Most cryptocurrencies are in red today, but Bitcoin has gained 8.6% and has again 51.5% of the whole crypto market capitalization!
I think many people sell their altcoins for Bitcoin to get the 'free airdrop' of Bitcoin Cash on August 1st. That means we can expect 3 more days of pressure on altcoins. Hopefully these people sell their free Bitcoin Cash and use the money to buy back their altcoins after August 1st :)
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Latest Crypto News - July 28, 2017
Bitcoin Price Goes up by $160 as $3,000 Target is Within Reach
Bitcoin is primed for another major take off, by the look of things. The Bitcoin price has shown bullish signals over the past two days and the trend is starting to materialize as we speak. With a near 10% gain in the past 24 hours, we may very well see a new all-time high for Bitcoin in the coming hours. That would certainly put any speculation of “jumping ship” to Bitcoin Cash to rest.
Read more: themerkle.com
The Future of “Bitcoin Cash:” An Interview with Bitcoin ABC lead developer Amaury Séchet
If all goes according to plan, August 1st will see the launch of a new cryptocurrency, described as an “airdrop altcoin,” a “spinoff-coin,” a “fork-coin,” a “clone-coin,” or — as the people behind the project call it — “a new version of Bitcoin:” Bitcoin Cash (“BCC”). Anyone who holds bitcoin (BTC) on this day, at 12:20 UTC precisely, will automatically receive the equivalent amount in BCC, attributed to their Bitcoin private keys.
Read more: bitcoinmagazine.com
Litecoin Terminals Pop Up Across US, UK and Canada Amidst Surging Demand
Litecoin ATMs are reportedly popping up around the globe as the numbers have doubled in making it a market leader in digital currency-supported banking terminals.
Read more: cointelegraph.com
Survey: 28% of Russians Have Heard of Bitcoin
As the Russian government works on the regulatory framework for digital currencies, a nationwide survey is published showing that only 28% of Russians have heard of bitcoin or other cryptocurrencies, and only 1% has any investment in them.
Read more: bitcoin.com
Bitpay Will Not Suspend Services — 'Very Little Risk of Network Disruption on August 1st'
On July 27 the world’s largest bitcoin payment processor, Bitpay, announced its plans for August 1st. According to the company, there is a lot of “misinformation” concerning updating Bitcoin’s consensus rules and the firm does not plan to suspend services that day.
Read more: bitcoin.com
Can Ethereum Overcome Its Immense Technical Problems?
Princeton Computer Science Professor Michael Freedman on why scaling this blockchain-based computing platform will be so difficult.
Read more: reason.com
AMD: Cryptocurrency Mining Isn't 'A Long-Term Growth Driver'
Chip maker AMD has seen its sales buoyed in recent months by big demand for graphics cards by cryptocurrency miners.
Read more: coindesk.com
Enterprise Ethereum Alliance Joined by 34 More Organizations, Including Mastercard and Cisco
The Enterprise Ethereum Alliance (EEA), the world’s largest open-source Blockchain initiative, has recently added 34 new members expanding to a total of 150 organizations.
Read more: cointelegraph.com
$8.2 Million: Court Orders Default Judgment Against Cryptsy CEO
A U.S. judge has ordered that the chief executive of the now-defunct cryptocurrency exchange Cryptsy must pay $8.2 million in damages to its customers.
Read more: coindesk.com
Kraken On Bitcoin Cash: Prepare For ‘Extreme Volatility’
Kraken has issued a warning to margin traders in its official Bitcoin Cash statement, saying they should prepare for “extreme volatility.”
Read more: cointelegraph.com
Bitcoin Startup KeepKey Ends Support For Multibit Wallet Software
The long-running bitcoin wallet Multibit is being discontinued, the firm that bought it last year has announced.
Read more: coindesk.com
Coinbase Advises Users To Transfer BTC
Amid fears of the proposed Bitcoin Cash (BCC) fork coming on August 1, cryptocurrency exchange Coinbase has issued a notice to their users.
Read more: cointelegraph.com
SEC ICO Decision Signals Crowdfunding, Investors Shift From US to Asia
The recent move by US Securities and Exchange Commission to potentially regulate ICOs has excited many ICO investors and companies in the Asian region, as the hot Blockchain-based investing trend could potentially shift to the region.
Read more: cointelegraph.com
Investor Howard Marks: Cryptocurrencies Aren't Real
A noted investor is taking aim at bitcoin and cryptocurrencies, deeming them in a recent investor note as "not real".
Read more: coindesk.com
So the reverse of this @penguinpablo and a possible trade play, after the hard fork date of August 1st--don't you think most people will quickly move back into the cryptocurrencies they already held? I think you hit it spot on why BTC is rising so fast today, but I think a better play is to move into the other currencies that are bleeding today because after the 1st I think they will rise again. What do you think?
This is EXACTLY what I was thinking! I'll be buying up all that EOS and Steem, thank you very much!
I'm thinking of picking up some more Steem right now as well. Seems a good time.
I've had tradingview.com up all day long waiting for that good good dip
That is what I am hoping for @bigpanda.
It will be awesome when the gold rush to sell all that BCC crushes the exchanges and no one can finalize anything.
It's going to be a few crazy weeks.
Right @amirl. That is part of the fun! Trying to figure out how to be one step ahead of the crowded trade.
Thanks for the info and the links for the news! It's very very helpful really!
Really good post. I hadn't considered this point and in doing so see it as a good sign to add to my altcoin positions. None of us know how the price of BTC will be affected come the 1st, but I hope to eventually see some altcoins start to stand on their on 2 legs and distance themselves from simply acting as a derivative of BTC.
great advice to hold not in exchange! let the free cash comming in!
Not directly related to this post, but I just wanted to thank you for the great tool "Steem Now". I use it everyday and it's really usefull. So thanks again 👍
You are welcome :)
So do I, started to read this article and forgot that came in here for that, for say thanks for Steemnow.. and now thanks for the post too! ;)
What! Free airdrop of BCC! Didn't know till this Informative Post.
Oh... thanks for the explanation, I never thought it would be that way and really thought many would get out of bitcoin into altcoins for fear of something weird happening during the fork on 1st August, and would BCC be of value after the dust settles?
Everybody wants to have some of that Bitcoin Cash! Sold my altcoins too.
Greed kills. Only the biggest and fastest whales will benefit, cos they'll drop the price the most when they drop their BCC. It's already $350 down from $550 and it isn't even August 1st yet. BTC is already losing momentum.
Most people will not substantially benefit from getting the free BCC. I fully agree. I think it will be quite funny to watch it unfold on Aug 1st and following
Sold all of my altcoins, hoping to get some of that bitcoin cash. Nice post sir!
I will be waiting in Alts. Not buying into this FOMO.
Great to see you putting in your valuable input!
Same here.
I am transferring my BTC from Coinbase to Bittrex. because Coinbase will not give out BCC if you hold BTC, but Bittrex will.
How does this free Bitcoin Cash work? Everybody owning BTC will get Bitcoin cash for free and for what amounts? And how to get them actually?
This is a good article that explains it.
Bitcoin Cash: What You Need to Know: https://medium.com/@jimmysong/bitcoin-cash-what-you-need-to-know-c25df28995cf
Really helpful article thanks. I'd no idea how it actually worked
Thanks!
if you are holding Bitcoin you get 1:1 meaning that if you have 2 BTC you will get 2 Bitcoin Cash. I don't know on paper wallets, but Kraken said that if you have Bitcoins with them at the moment of the fork they will credit Bitcoin cash.
Thanks!
On the plus side Steem hasn't moved much in the last 3 days.
Great post, but I see something different here. This Surprise is really no surprise, I see this as a sweetener and reward for the Cartel in order to move forward especially those heavily invested in mining operations. This move gives them a chance to potentially double their holdings with BCC on their way out of the BTC game as well as giving them a chance to retool their operations in a different direction although I wouldn't be surprised at all if they simply cashed all the way out of BCC and moved on to other greater scams. Although there are really no losers here except those who are rushing in at the last minute to buy BTC only to find themselves stuck with third parties who weren't prepared for this and so their BCC double up turns into leprechauns Gold and then panic and sell their BTC low thinking the world is coming to an end. The Reliability of Crypto is the real looser here and again these greedy cartels behaving no different then the FIAT institutions that we are trying to escape by coming up with a US FEDERAL RESERVE worthy mega Inflationary move conjure a new coin whose value is derived from one which they themselves already possess en masse and the gullibility of make a quick buck geniuses myself included. My question is? What's next? The Jedi coin is what this should be called or the force coin or the faith coin. But really what's next? If communities can seemingly just surprise us like this anytime is crypto really valuable can it be trusted? Is it truly decentralized? and I love decentralized but it doesn't have to mean disorganized or decencyfied "new word here". I'm rambling but this is not good, this magical coins are going to hurt us in the long run.
BS
Yes. I do believe the money will flood back into the alts again after the next Bitcoin surge. Here is my Top 10 list for this week:
https://steemit.com/cryptocurrency/@cryptosphere/top-10-cryptos-of-the-future-july-29-2017-a-weekly-ranking-of-the-best-place-to-put-your-money-in-the-cryptosphere
That is the good posting @penguinpablo.
That posting is useful for many people on steemit.
Thanks for sharing @penguinpablo....
Keep steem on...
I am @viqral will support
I am really shunted by your post and that's a lot of hard work.... @penguinpablo
Very informative post.
This post received a 4.4% upvote from @randowhale thanks to @penguinpablo! For more information, click here!
I am holding my altcoins and I am worried... :(
there's not point in selling now we can only wait
Good call, I came to the same conclusion - that people are buying up BTC to get their hands on some free BCC on August 1!
My question is, does it make sense to dump your BCC as soon as you can, or wait for the price to rise? I'm sure there will be a lot of BCC dumping, but I'm not so sure if there will be a price bump after that stage.
I'm pretty sure the price of Bitcoin Cash will be very volatile on August 1st. It's very hard to predict a good price for the coin.
Bitcoin marketcap have increased from 48% to 52% in the last 9 days.
I have some BTC off my exchange and im waiting for the aug 1st.
Just sold some monero and litecoin , bought me some btc and trandferred to electrum wallet :)
bitconnect seems to be a pretty solid coin, always in the green.
Feels like a buying opportunity in some of the other coins :-)
this was actually expected before 1 august! It will be interesting! thanks @penguinpablo for the interesting news! Looking forward to more
That means they are intelligent
Will Exchanges list the BCC or not? I have read about bitstamp that it will not list it on their exchange.
Kraken will add it: http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/
Poloniex won't: https://poloniex.com/press-releases/2017.07.24-Our-plans-to-handle-potential-BTC-network-disruptions/
Oh it id really painful for the polo users.
The best is to buy Chocolates! :)
Who knows, maybe they know things that we don't. Best of luck to them.
Sure, you'll get free Bitcoin Cash but at the same time, either the BTC or the Bitcoin Cash exchange rate will plummet.
Yup. Irrational greed. It will be an entertaining day, Aug 1st will!
I would expect extreme volatility in alt-coins on all exchanges until we see which exchanges are going to comply with the new SEC regulations. Until then, any alt-coin on an exchange not in compliance is in dang of being seized.
upvoted
True. How does the SEC plan to enforce their regulations? I'm not very educated on these matters. Will it be similar to income tax, where they only audit a tiny percentage of individuals and the 99+% of people pay out of fear of the severely unlikely scenario where they are investigated?
I turned some cash into BTC today . All the talk of switched off transactions around the 1st made me decide this is close enough . God hates a coward so bring on the lightning bolt .
Very nice read my friend. Im definitely going to keep this in mind.
creo que la gente esta loca ya que ninguna exchange va a coger la bbc ya lo puse yo en uno de mis articulos https://steemit.com/spanish/@apoloo1/bitcoin-finalmente-rompe-el-50-en-el-indice-de-dominancia-el-precio-cerca-de-usd-2-800
Great analysis! So it's a good time to buy cheap alt coins! Do you think so?
Excellent post, helping me with my personal life. Thanks buddy.
So I should sell my alt coins ~ then
Great read!
People need to think beyond cryptocurrency and realise that the future of blockchain technologies starts now. Stop panicking when ever Bitcoin drops, it's just one of the many applications for the blockchain. We are a part of history.
https://steemit.com/crypto/@lukeallison/future-crypto-a-list-of-projects-with-purpose
Good post. Interesting to see I'm not the only one that is thinking about this. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. Personally I always use: https://www.coincheckup.com Since I use this site I make so much less basic investment mistakes. For example: https://www.coincheckup.com/coins/Bitcoin#analysis For the Bitcoin Investment research report.