Don't sell your BCC too quickly???
If you haven't been living on the moon for the last 2 days you will know that if you hold BTC you will receive free BCC (Bitcoin Cash) today. Basically it is an Airdrop where you receive the new Altcoin BCC. BCC has a bigger Blocksize and can have 8x more Transaction in 1 Block than BTC.
I made a calculation based on the following assumptions: BTC with Segwit can process 1.7x more transactions than before, 20% of the Hashingpower of BTC will go to BCC
TPS Calculation
So everybody is expecting that BCC will drop to 1 USD or almost 0 and die. After doing some calculation I am not so sure that this will happen. I am sure that at least 20% of the Hashrate will go to BCC. You will say well it takes 2016 Blocks until the Difficulty adjusts so nobody will mine BCC. I read today that the difficulty will adjust within 12 Hours in case of a sudden drop of such magnitude in Hashingpower. (Please correct me if I am wrong here)
Anyways if my calculation is correct, BCC with a 20% Hashrate will have a huge boost in TPS and even at only 20% Hashrate the TPS (Transactions per Second) will almost be as fast as BTC with Segwit. If this is true I think that once 30% decide to mine BCC the TPS of BCC will be faster than BTC. The only question is than, how much are the transaction costs.
I agree with most of the people that BTC will very likely go down a bit, BCC will get killed and than BTC will raise even higher, but after selling my ETC at 3 USD and than ETC going to 20USD I am not selling a single BCC now. Maybe some of you want to follow my example and not sell off 100% of it.
What's your plan for BTC and BCC???
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Great info, there will be a massive dump first days and better to wait. Reminder that ETC went from less than 1$ to more than 20$.
Here I wrote a detailed post on how to get your BCC: https://steemit.com/bitcoin/@bcn/preparing-for-august-1-hard-fork-how-to-claim-your-free-bitcoin-cash
upvoted !
I like the thinking applied here using the experience in ETH - ETC, and applying what you learned in the now BTC - BCC. Sad to say my wallet does not support BCC though. Almost everyone is this space is doing a countdown 4 hours, 40 minutes to go! Thanks for sharing your thoughts. Resteeming this.
thank you. I hope someone smarter than me can check my calculation and tell me if I am correc.t if only 30% hash power is needed than we might see BCC come out strong
It is up over 150% congrats!
It's free, so there is nothing to loose with holding, so I'll HODL ;-)
thats the spirit
I have sold all my bitcoins, so nothing to worry now.
Selling so fast could be a dumb thing to do. No one knows what is gonna happen. I will keep to your advice and hold it if eventually it appears in my account. Thank you for this great post.
well you could sell part of your holdings. I expect btc itself go down to 2400usd again.
" I read today that the difficulty will adjust within 12 Hours in case of a sudden drop of such magnitude in Hashingpower. (Please correct me if I am wrong here) "
You are right mate..
Thanks for great post
I will keep the BTC as I do not trust the BCC
Please if you have sometime check
https://steemit.com/bitcoin/@lordoftruth/few-hours-before-bitcoin-splitting
Let's see how this pans out
@knozaki2015 I love to see people get confused about what to do next or what to do with the BCC. I will suggest that no one should be in a hurry. Just sit back, relax, and watch out for market trends.
Good article @knozaki2015 my opinion is majority of investors wants only 1 bitcoin and that is bitcoin segwit i won't be surprised if the BCC prize crashes quickly.
I am assuming that too. but I am prepared for the worst. even I only earn 1 usd per bcc when I finally sell it. i wont risk selling one of the bictoins as I am afraid that I will sell the wrong one. imagine everybody selling bcc , but bcc becomes the stornger chain...
Exactly my thoughts the whole situation is very unpredictable. I stayed clear to keep myself sane, but I am still watching anxiously for what and when to buy.
No fun airdropped on me. I haven't got any BTC, so no BCC for me 😢
you can still buy btc on exchanges if you have altcoins
Can't dare to do that @ 2850
There are maximum people selling their BCC due to panic . But professional traders and investors will hold on to it.
I expect the same. I won't sell any of the BCC. I don't think it will die. so we will have a BCC like ETC
maybe they would trade the margins or options as people dump
Hey there! Great read bro, tho I miss the delicious looking food :P
I will hold on to it for some time. Also I plan to buy Bitcoin on the dip to hold for like forever, not gonna mess around with that.
So... good luck on your holdings!
I will buy a lot too if it drops to 1usd. someone will pump it oneday ;)
meep
I hear you on that point! don't want to be regretting not owning a Bitcoin when it gets to $10000 as predicted by some. Bitcoin is definitely for long term.
I don't have enough satoshis to matter.
btc price going nuts
Pretty green in the market today.
that makes both of us. I prefare to hold DASH and Litecoins
BTW, with the current growth rate in acceptance of crypto currencies, for how many years this TPS of 56 will be sustainable, according to you? And what are comparative figures for TPS 11.9?
I would assume that the tps of 56 will be fast enough for at least 24 month
👍 Long live BCC!
You might as well hold it and see what the price action is. If it crashes oh well. But if it remains stable or rises then you will make a little bit of coin as they say.
Ohh. That's really interesting! Upvoted!
Thx, you motivated me to change back some STEEM to BTC and I'll wait for the magic to happen...
very good post..
I do not understand what you are doing, because I just joined the steemit :D
handy even for a novice to hear the views of those who have experience and opinions - i hope your right and it works out to be the profitable call
yeah I will definitely hold it for a while, nothing to lose but if the price will go up it's pure profit then :)
BTC will go to 5000, and the new BCC will stagnate!
How can we tell? I didn't even see this coming. In all the talks of the fork it was always Bitcoin Unlimited and Bitcoin Core the fact that they made this decision and are going ahead with it means they have been quietly working in the background ignoring all the noises. Take a look at the number of Exchanges accommodating the new coin from day one. It looks like they will be on more exchanges than some older coins. It is clear to me they have an ace up their sleeves.
Sometimes what we assume is the common opinion is not really, as people will play it safe if their views are strongly opposed - Don't forget Hillary and Trump election , and Brexit in UK
And McAfee will have to cut off his dick on live TV cause he made a bet for BTC to reach $500,000 by 2020. In fact I think BTC is a relic that belong in a Museum and BHC has a brighter future. Still the real winners will be Dash and Etherum and to a lesser extent sia,Maidsafe and factom. After that there is STEEM and EOS. At least that's how I'm making my bets.
So glad to find someone who is not a buttcoin zealot. https://steemit.com/gaming/@vimukthi/how-mmo-and-e-sport-games-can-make-blockchain-mainstream-and-why-dash-would-soar
https://steemit.com/bitcoin/@vimukthi/bitcoin-is-the-the-internet-explorer-of-2006-own-it-but-don-t-mine-it
I've only got a fraction of a BTC as it stands, so I see no point in selling my BCC for a few dollars. Who knows? Maybe it'll surprise us.
I had my bitcoin in a wallet that did not support BCC. So what happens now ?
The current understanding is you would not be able to claim your BCC. I guess in the next few days all will be revealed
Thanks for Share. upvotes & like your post!
👍👍👍👍👍
Is BTCC really that worth it?Ive dropped all my btc to buy other coins that were going these past days, and Im making profit from my deals...
Well if the existence of BTCC is necessary, maybe it would have some value.
Great post - I'm glad someone is making the case for not just dumping the free coin and giving it a chance. You're right that ETC, though low, hasn't crashed, so it could be comparable. I guess we'l have to wait and see! There's a great countdown page here if anyone needs it: https://bitcoinxbt.org/
Bitcoin cash is an added advantage so why the dump? Holding nmine
Yeah.......... The best bet is to hold
Regardless of what will happen, I hope altcoins will raise :) the ones with good development behind them.
hold, because i dont wanna trade too much :)
lol i just think about it...Its not likely maybe its a fkd up plan to press money from the btc holders. Most will sell their bitcoincash stake. What if the outcome will be that bch will be the lead bitcoin? The cryptocommunity is easy to manipulate. Hold guys hold, dont go for the shortterm profits
I'm going to sell neither BTC nor BCC.
May be I'm just stupid, but I prefer to keep both and also I'll buy both when their prices would drop
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