The market is watching carefully for the BCC Hardfork initiated by viabtc on 1st August.
The idea of BCC is based on the UAHF idea of bitmain which they announced as answer to the UASF.
Whats happening now is that it got a new name and is from viabtc so that bitmain is not longer involved. But the truth is that bitmain is the main investor in viabtc.
The real reason for this fork remains unknown, one can only guess. But its obvious that bitmain is the key player in this event. It's also the company which profits most from asicboost.
Its likely that BCC will get dumped after a few days. But then we will come closer to the 2mb hardfork from the segwit2x proposal and this blocksize increase is unlikely to happen because with segwit blocks wont be full anymore. With the agreement broken some miners could start to pump BCC trying to overtake BTC or just dump the accumulated coins to people not having BCC anymore and need it to hedge their investment.
Just my thoughts on it.
The idea of BCC is based on the UAHF idea of bitmain which they announced as answer to the UASF.
Whats happening now is that it got a new name and is from viabtc so that bitmain is not longer involved. But the truth is that bitmain is the main investor in viabtc.
The real reason for this fork remains unknown, one can only guess. But its obvious that bitmain is the key player in this event. It's also the company which profits most from asicboost.
Its likely that BCC will get dumped after a few days. But then we will come closer to the 2mb hardfork from the segwit2x proposal and this blocksize increase is unlikely to happen because with segwit blocks wont be full anymore. With the agreement broken some miners could start to pump BCC trying to overtake BTC or just dump the accumulated coins to people not having BCC anymore and need it to hedge their investment.
Just my thoughts on it.
Comment:
"Its likely that BCC will get dumped after a few days. But then we will come closer to the 2mb hardfork from the segwit2x proposal and this blocksize increase is unlikely to happen because with segwit blocks wont be full anymore. With the agreement broken some miners could start to pump BCC trying to overtake BTC or just dump the accumulated coins to people not having BCC anymore and need it to hedge their investment."
Thoughts from back then are happening. Mining power has moved to bch, people who sold their bch are buying it now as hedge and a lot of speculators want some quick money.
I personally dont believe that bch can overtake bitcoin, its more likely that it will just pump and dump. But i am holding my free bch which i got for free as hedge. I also took some additional bch in the $300s anticipating this move which i start to sell now.
Thoughts from back then are happening. Mining power has moved to bch, people who sold their bch are buying it now as hedge and a lot of speculators want some quick money.
I personally dont believe that bch can overtake bitcoin, its more likely that it will just pump and dump. But i am holding my free bch which i got for free as hedge. I also took some additional bch in the $300s anticipating this move which i start to sell now.
Also keep in mind the segwit2x hardfork scenarios: