Segwit2x cancelled, "The Flippening", the price of Bitcoin Cash and everything else

lilbabycat

2[H]4U
Joined
Jun 21, 2011
Messages
3,810
Just checking in with ya'll here. Segwit2x on bitcoin got "cancelled". This is turn caused BTC to jump a bit, but for some reason it also caused Bitcoin Cash to start jumping as of friday morning. (the coin that forked off in august, shown as either BCH or BCC depending on exchange but not to be confused with another coin that uses BCH on those exchanges that use BCC)

BCC went in ~3 days from ~$300 to $1300. I jumped on at $800 splitting off some of my BTC.

In the same time period, BTC has nose dived from its fat $7500 position down to $6200 (and lower?). Is it just a correction?

There are forum/discussions calling this "the flippening" where a majority of miners are supposedly going to switch to BCC, likely monday when the difficulty is adjusted (routine thing). This will supposedly divebomb BTC and make BCC the new "bitcoin". This of course is all rumor and speculation. People are calling it a pump+dump. Others are saying its XYZ party playing rich-guy games (be it the chinese, bankers, random mega-bag holders, etc). There people discussing the outside viewpoint, where "normies" only know/trust BTC, as well as the "normie" markets like Coinbase that only hold a few major coins, which BCC isn't one of them; and this in itself will prevent BTC from divebombing, even if half the miners bail. Some are saying "this is just another of a dozen other dips for BTC, HODL", to which I believe they have a point, but not every event is exactly the same as the last.

Plus there are some more complications coming in. There will apparently be an episode of Big Bang Theory (yeah I know) devoted to bitcoin. People have already predicted the likely terrible-cliche-plot (laptop with millions in btc, blah blah, ends up getting lost), BUT, it gives a MASSIVE advertisement to the coin/market itself, which leads to google searches, and random buy-ins from people who have never touched the market before. This will likely mean a significant bump for BTC and likely all coins that week.

I'm still mining (very slowly) ETH btw. It has been floating around $300 for a while now.

THOUGHTS?
 

oblox

[H]ard|Gawd
Joined
Nov 27, 2013
Messages
1,079
Just checking in with ya'll here. Segwit2x on bitcoin got "cancelled". This is turn caused BTC to jump a bit, but for some reason it also caused Bitcoin Cash to start jumping as of friday morning. (the coin that forked off in august, shown as either BCH or BCC depending on exchange but not to be confused with another coin that uses BCH on those exchanges that use BCC)

BCC went in ~3 days from ~$300 to $1300. I jumped on at $800 splitting off some of my BTC.

In the same time period, BTC has nose dived from its fat $7500 position down to $6200 (and lower?). Is it just a correction?

There are forum/discussions calling this "the flippening" where a majority of miners are supposedly going to switch to BCC, likely monday when the difficulty is adjusted (routine thing). This will supposedly divebomb BTC and make BCC the new "bitcoin". This of course is all rumor and speculation. People are calling it a pump+dump. Others are saying its XYZ party playing rich-guy games (be it the chinese, bankers, random mega-bag holders, etc). There people discussing the outside viewpoint, where "normies" only know/trust BTC, as well as the "normie" markets like Coinbase that only hold a few major coins, which BCC isn't one of them; and this in itself will prevent BTC from divebombing, even if half the miners bail. Some are saying "this is just another of a dozen other dips for BTC, HODL", to which I believe they have a point, but not every event is exactly the same as the last.

Plus there are some more complications coming in. There will apparently be an episode of Big Bang Theory (yeah I know) devoted to bitcoin. People have already predicted the likely terrible-cliche-plot (laptop with millions in btc, blah blah, ends up getting lost), BUT, it gives a MASSIVE advertisement to the coin/market itself, which leads to google searches, and random buy-ins from people who have never touched the market before. This will likely mean a significant bump for BTC and likely all coins that week.

I'm still mining (very slowly) ETH btw. It has been floating around $300 for a while now.

THOUGHTS?

Seems like with BTC already having its diff adjustment and BCH in less than 24 hours, it would be more profitable to mine BTC:

https://fork.lol/

Compound things with BCH forking in a few days and things are going to get even weirder.
 

lilbabycat

2[H]4U
Joined
Jun 21, 2011
Messages
3,810
its still jumping... I've doubled up in less than 48hrs with BCH... between me typing this one line its gone up $100. digital-fake-stock-market-trading is addictive.
 
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