WARNING:
This article is not for risky investors.
If you're a risk taking, high reward seeking speculator, go ahead and get BCC right now.
For the rest of us, read on.
Why You should Wait to Buy
This is a brand new "Alt-Coin". We're in unchartered territory here. Never has a coin split from bitcoin and kept such a similar name, or been allowed to anyway. Though it's very exciting, and we all could be missing out on big gains, being so new as such it is going to be very volatile in the short-run.
You have greedy investors that were prepared to get in and will be jumping in the early stages taking that risk. Most investors don't want all this risk. It's like jumping in on a coin at the beginning of the release or ICO! (Remember facebook's IPO?, yeah that shows you what kind of price over-appreciation can happen on a digital asset).
Many people (as mentioned in the video) JUST want to SELL their newly acquired Bitcoin Cash but the problem is the learning curve with how to sell it! I know (at least I think I know) that I have some bitcoin in a basic software wallet and that I can get this split into both regular bitcoin and bitcoin cash for some free return, but I right now don't have the time or patience to try to learn. I can't turn on a dime, and neither can or do most investors who are in it for the long-haul.
So, before you rush out and find the nearest exchange offering some bitcoin cash, why not wait until the full hoard of people wanting to sell their free money by throwing it back into bitcoin basic drive BCC's price down as they likely will, and then come in and buy at the time "everyone thinks it's dead" as the video says below. When things are less interesting that's when you get in at the best value for the highest potential long-term gains!
YouTuber "Coin Mastery" compares this to the split of ethereum into Ethereum Classic.
At 12:20 is the comaprison.
(can't figure how to play the video at a certain timestamp, someone please let me know!)
Peace
and let's hope that the original bitcoin doesn't adopt such an abhorrent nickname as "bitcoin basic"
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Pretty cool @markparker, congrats on the badges! Nice post, super easy to understand!
You're the first and only person I've followed so far!
Feel free to check out my post and tell me what you think. I am trying to come up with a reward/punishment system wherein my followers can earn free STEEM through my blog (my punishment lol).
Looking forward to your thoughts, here's my post - https://steemit.com/introduceyourself/@fuzzigog/minimalism-and-how-fuzzigog-s-transformation-journey-1-introducing-myself-how-you-can-help-me-gain-self-discipline-to-gain-more#comments
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Thank you for follow. reading now
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I made a killing, betting against the buttcoin zealots and putting everything on BTC cash while the idiots were selling and managed to lock in 300% gains in about 30hours.
Then of course I went back to Dash and Etherum :-)
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Great to hear; where did the price start at? I wasn't there for early market trading
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It was between $130-$800. I bought under $200 and sold while it was around $650-$700
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Wow, good trading :) - Yeah I did now some research and analysis released my analysis concluding:
Don't Buy Bitcoin Cash Until After August 15
https://steemit.com/bitcoincash/@mikeparker/i-was-right-about-bitcoin-cash-but-is-it-time-to-buy-yet
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Do you think this is because of bitcoin cash too? https://steemit.com/bitcoin/@adrai/no-trust-in-bitcoin
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whoa, seems super weird they'd say to use another..I wonder what audience (location?) is the userbase of this service.
Alexa says they're not very popular so I can't view which country they're used in. I guess since they're a software distribution company their userbase is familiar with bitcoin; but could they really think something like litecoin, dash or etc. is a better choice?? Only if they require micropayments...
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Your not wrong mate but time will tell. Will see how it trades in next few hours, if we get a similar big hit like yesterday. I'm not sure and I'm no trader but it seems bcc is perfect for traders it's moving up and down 100s of dollars
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I used to be a trader; volatility is the next best thing to trade after arbitrage. And the dang FinCEN shut that arbitrage (the easy ways) down right quick
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