Just moments ago a series of alarms began sounding on my laptop. Why??
An entire market cannot sustain growth on the back of one of it's weakest currencies , an upcoming hard fork , and the absolutely uncertain results of it.
As I pointed out before , nobody is making any promises beyond "supporting" something that will happen whether an exchange "supports" it or not. When last I checked , most of the opinions were negative on "Satoshi's vision," and most of the possible iterations of BCH to come. Coinbase has said that "in the unlikely event that two viable chains exist," key word unlikely ; and there are a number of opinions published by noteworthy fiduciary experts submitting that the original BCH chain may prove to be not viable after the fork , quoting one source as saying in parentheses that original BCH chain will "die, of course."
Throughout this BCH bubble, other currencies have been destabilized based on their relationship to BCH and inter currency exchange rates did not hold up to their respective fiat rates. There were points where a person could have bought BCH for BTC , sell it for fiat , and buy back in to BTC at a profit within the time it would take to do so , including fee's etc. . That kind of behavior is not healthy for the market. That is what we are seeing now , the results , and I predict that the price of BCH is going to cycle this way again.
As someone who bought in for the first time, this year in the 1st quarter, I find it difficult to understand just why a failing currency has appreciated so much..... and my best guess is that people want free money - I know I do , but some cannot understand that paying for free money has the effect of making it no longer free.
It has often been said that a person can be smart , but en masse , when people move in herds.... well? Buying BCH for 600 plus?? You just helped someone to profit a great deal if THEY bought in at 420.00 U.S.D. so thanks on that persons behalf, but where do you really believe things are going from there , especially given the singular nature of this rise , and the broader markets rejection that was simply a matter of time. Events like this damage people , their finances , and their psychology. Do I want regulations?? Of course not , just a bit of common sense in the crypto community.
Have f.o.m.o.? Buy a bitcoin if you can , or a portion and HOLD it. The only thing one can miss out on now is not hedging against the coming crash in the economy , and not understanding that digital currency is the future. Bitcoin is halving and there will only ever be an already determined number mined. Miners are operating at a loss in most circumstances but they are still doing it , and that - to me , speaks volumes more about the future market than the upcoming plastic BCH spork. Yes , I said spork.
Caveat emptor , and may fortune smile upon your endeavors .
An entire market cannot sustain growth on the back of one of it's weakest currencies , an upcoming hard fork , and the absolutely uncertain results of it.
As I pointed out before , nobody is making any promises beyond "supporting" something that will happen whether an exchange "supports" it or not. When last I checked , most of the opinions were negative on "Satoshi's vision," and most of the possible iterations of BCH to come. Coinbase has said that "in the unlikely event that two viable chains exist," key word unlikely ; and there are a number of opinions published by noteworthy fiduciary experts submitting that the original BCH chain may prove to be not viable after the fork , quoting one source as saying in parentheses that original BCH chain will "die, of course."
Throughout this BCH bubble, other currencies have been destabilized based on their relationship to BCH and inter currency exchange rates did not hold up to their respective fiat rates. There were points where a person could have bought BCH for BTC , sell it for fiat , and buy back in to BTC at a profit within the time it would take to do so , including fee's etc. . That kind of behavior is not healthy for the market. That is what we are seeing now , the results , and I predict that the price of BCH is going to cycle this way again.
As someone who bought in for the first time, this year in the 1st quarter, I find it difficult to understand just why a failing currency has appreciated so much..... and my best guess is that people want free money - I know I do , but some cannot understand that paying for free money has the effect of making it no longer free.
It has often been said that a person can be smart , but en masse , when people move in herds.... well? Buying BCH for 600 plus?? You just helped someone to profit a great deal if THEY bought in at 420.00 U.S.D. so thanks on that persons behalf, but where do you really believe things are going from there , especially given the singular nature of this rise , and the broader markets rejection that was simply a matter of time. Events like this damage people , their finances , and their psychology. Do I want regulations?? Of course not , just a bit of common sense in the crypto community.
Have f.o.m.o.? Buy a bitcoin if you can , or a portion and HOLD it. The only thing one can miss out on now is not hedging against the coming crash in the economy , and not understanding that digital currency is the future. Bitcoin is halving and there will only ever be an already determined number mined. Miners are operating at a loss in most circumstances but they are still doing it , and that - to me , speaks volumes more about the future market than the upcoming plastic BCH spork. Yes , I said spork.
Caveat emptor , and may fortune smile upon your endeavors .