Bitcoin above $2800

Looks like going over 2800 triggered some bots.

True that. Everyone is selling alts, all alts in RED.

I'm loving it. Cheap alts.

Am I doing the right thing by holding my alts? I guess I don't really have a choice unless I want to sell at a huge loss, and I'm not doing that.

People are buying, because of BCC.
It will all end after 1st.

Twice the pride, double the fall.

yes, from $6666 to $5899

>free bcc

How I admire naivete. FREE BCC

Have you stopped to think about the possibility that the whales are setting a trap?

...

youtu.be/l9yLZFTPMa4

The worst is that there are people who still believe that BCC will be free.

Lol.

Let's make a personal fork every day. So Bitcoin will get there fast at $ 100k fast.

...

It's essentially just printing money. People still falling for this scam after thousands of years.

>Two weeks ago: BTC will crash
>One week ago: BTC will crash
>Three days ago: BTC will certainly crash
>One day ago: BTC will crash (wipes sweat)

THERE WILL BE NO FUCKING CRASH YOU STUPID FAGGOTS!!!!! BTC IS GOING TO THE MOON WITH OR WITHOUT YOU

I'll try to explain it again because it seems like some people here are retarded.

1) The value of Bitcoin is: The total amount of money invested in Bitcoins divided by the number of coins that are in circulation.

2) The value of Bitcoin at the exact moment of the fork will be: 1/2 of the total money invested in Bitcoins

3) The value of Bitcoin Cash at the exact moment of the fork shall be: 1/2 of the total amount invested in Bitcoins.

I need to make it even clear to the retarded that this is what happens at the exact FORK MOMENT. Then it is the market that will decide how much each will be worth. But the devaluation of bitcoin is PROPORTIONAL TO WHAT BITCOIN CASH IS VALUIZED.

What some imbeciles seem to be thinking: That the money that is inside the exchanges invested in Bitcoins at the exact moment of the fork will double and every bitcoin and bitcon cash will be worth the same at the same value that the bitcoin is now worth at the moment.

My thoughts exactly. This smell of a big set up. Bait and gather people in one place, then dump the hell out of them. If this happens this is going to cause some serous panic since diversification is minimal atm. If I was GS and wanted to kill crypto or at least knock it out cold for a while that's the kind of thing I'd do.

That!
They are basically doing what the Central Banks do and the people who originally started buying bitcoins did to flee from the Central Banks.

It's all happening one more time.

>Two weeks ago: BTC will crash
Well two weeks ago the BTC did crash you mong.

>Thinks dip to $1,900 is a "crash"

why didn't i buy the dip

losing 20% of value in just a few days in the exact definition of a crash, retard.

>Thinks he's smart
>Forgets basic market principles
Lel, no. You just contradicted yourself and spreading some SERIOUS MISINFORMATION.

Forking Bitcoin will not somehow magically pull out half of all money invested in BTC. That's not how it works.

The BCC fork is essentially giving out a speculative asset proportional to the amount of BTC someone has, to mimic the BTC market. But this in no way magically makes BTC's marketcap fall in half.

The value of Bitcoin Cash will be what the market places in it. If the market treats Bitcoin cash like Bitcoin, then it will be worth whatever BTC is valued at. In terms of pulling money from BTC, the money can come from three sources

1) Bitcoin's marketcap
2) Any other altcoin's marketcap
3) Money outside of the crypto market

That is all the possible places the money can come from. Like any other free, unregulated market, the market itself will decide the price of Bitcoin cash and its value. Period. So no, Bitcoin is not going to just magically drop in price the minute the fork is released. Use your brain, don't be retarded.

There is no trap set by whales if you have been following this saga. This is all done by spiteful members of the BTC community that are angry about how BTC is going. BCC is dead on arrival anyway, no one outside of the BCC community really wants it.

No, its the definition of the crypto market, retard. This isn't stocks. GTFO newfag and trade some more crypto, if you've been trading for years this shit is a regular occurrence.

>a few days
>exact definition

>being this dumb

The fact it happens often in crypto doesn't change the fact it was a crash, brainlet.

20% flash drop is not a crash. Sigh, I guess you'll continue to act like a stupid autist. Some people simply can't be helped.

I know how to deal with low ability people like you.

Just for a second let's change the name of BCC to DGB.

The moment the fork happens you get 1 DGB for every BTC that you own.

How does this make the price of the newly created shitcoin called DGB, half of the price of BTC?

BCC is just another shitcoin which you get for every BTC you own.

It's the same if you would get 1 SC or BLK or BELA or whatever at the start of their life.

It's not possible. I'm trying to explain it like I'm talking to retarded children for 10 years and it still does not work.
Okay then. Let's see what will happen.

fuck off, retard

this IS NOT A STOCK SPLIT

BCC futures have THEIR OWN VALUE ALREADY

how do you exist?

>Putting up ironic pictures of himself
Bro, you're embarrassing yourself here. Just stop.

en.wikipedia.org/wiki/Dunning–Kruger_effect

Please read this and reevaluate your entire life.

If btc loses half of its value on 1 aug, does it means all alts will lose half of its value as well?

You are too dumb to understand that it is not a CREATED value but an ABDUCTED value!

Yes
SELL
SELL
SELL
>sellsellsell.jpg

They will lose because they are all backed by Bitcoin.
Or do you buy and sell the cryptos using what?
If they are worth 4k sat and Bitcoin is worth half the value it was then these 4k sat are worth half of what they were worth.

>using what?
USD
EUR

...

fuck you in the booty

Sort of similar to what happened the deutschemark when the euro was introduced?

So when bcc come to exist where does the money come from that makes bcc worth anything? Money doesn't just magically get created because BTC split, does it?

>being this retarded

how dumb so many people in this thread are really antagonized my chia seeds, but then i realized the crypto market needs a constant inflow of economic illiterates if people like myself are going to continue to make money. so...
...sperg on, sperglets

I guess we'll see soon.

There is quite of buy volume going into BTC. Could it be mooning instead?

What will happen is two one:
1) Whales are building the trap to throw their bitcoins at everyone's head and this can happen before the fork.
2) Extreme stupidity of people not to understand that the value of bitcoin is the total amount of money invested divided by the number of coins in circulation and that the value of Bitcoin Cash is not being created but stolen from Bitcoin plus their greed Will cause the Bitcoin value to drop just after the fork.

When I saw the value of Bitcoin rising I thought we were facing the first scenario but judging by the comments here in biz and practically all the cryptos in the red I am beginning to believe that is the second case.

So you can expect that bitcoin's value will plummet after the first day. Be prepared to sell and buy at the dip after that.

...

>expect that bitcoin's value will plummet after the first day. Be prepared to sell and buy at the dip after that.

This seems to everyone's plan. Waiting for BTC to crash after Aug 1 but what if now is actually the time to buy?

Unless it's some self fulfilling prophecy, that supposed "crash" doesn't look likely. BTC is implementing Segwitt and is already up 8% in the last 24 hrs.

What's going to happen to the price of ETH after all of this Bitcoin nonsense blows over?

Its going to crash, it has TOOOOOOOOOOOO

The price will tank once the SEC inevitably steps in to regulate crypto as securities.

The value is based on supply and demand. That's why suddenly having double the amount of currency will halve the price.

>This seems to everyone's plan. Waiting for BTC to crash after Aug 1 but what if now is actually the time to buy?

The problem is that the crash is a house on fire with a small door and everyone wanting to leave at the same time.

can't wait for brainlet newcoiner tears when BTC and BCC both plummet on Aug 1st and they transfered all their alts into it

and then they'll panic sell right into my open bags

BCC will succeed and usurp the outdated bitcoin technology. It will be a much faster coin and also less centrally controlled. If you don't get your BTC out of the exchanges by the 1st then you will be left poor forever.

cap this post.

>SEC
>Murica #1
80%+ of crypto currency is traded in Asia.

Can someone redial me on the BTC/BCC situation?

>If you don't get your BTC out of the exchanges
Not necessary on Bitfinex.
They will credit Bcash to BTC holders.

Redpill *

sorry user, too late, I'm already redialing you.

or did you mean "redilate," like you have to do err day to your neovagina?

Phoneposter confirmed.

You people understand the current value (and im thinking goes up to 3000 before Aug 1) is BTC + BCC....once the split occurs, btc value will drop.

This. I followed closely the rise of those last hours and it's clearly artificial. You had those huge green candles out of nowhere at regular intervals. Some whales are buying huge quantities of BTC right now and guess what they are going to do with it? I wouldn't even be surprised if they were the same whales who caused the crash a few days ago in the first place. Back then It all happened in one huge sell off, carefully timed to break support lines.

I feel people who are going all in BTC right now to get BCC are in for a very very bad surprise before August.

...

you understand bitcoin cash is going to under 50$ by august 2nd right?

the majority of value that btc has right now will remain and bitcoin cash will be the fastest altcoin death to date.
Not even jihan wu wants bitcoincash, it is entirely dead

Actually the value will rise

A few points:
BCC is already taken as a currency abbreviation, by some scam ponzi called bitconnect. When Bitcoin Cash gets listed, it will likely be under BCH.
There is no reason to expect that the market cap will be conserved. The market cap of BCH + BTC could be less, more, or the same as BTC pre-fork. Seems like free money, breaking some law of economics, right? No because market cap isn't a representation of total investment or anything like that. It's just the price times number of coins. If everyone tried to sell to fiat to actually collect this free money, all crypto would be worthless. The fiat price can wobble up and down as it always does, the main number of interest is the BCH/BTC ratio.
Consider the following tremendous oversimplification: assume X BTC are actively traded. (On exchanges, managed by people who know what's going on, overall relevant to the situation. Long term holders and those living under a rock will just keep both). We'll assume everyone has the same amount, or just assume all references to fractions of the population are weighted by bitcoin holdings. More assumptions: 90% of active market participants will sell their BCH for BTC. 10% (the big blockers, a minority but not as insignificant as some think) will sell their BTC for BCH. The same number of BTC and BCH are in the market, so the market should logically exchange those 0.9X BCH for those 0.1X BTC, so the market price should be 0.11111111 (1/9) BCHBTC. If the BCH faction is smaller, the price will be lower, and vice versa.
There are now two approaches:
Try to estimate the ratio of support for the two coins. Sell if the price is higher than that ratio. Don't make the mistake of only accounting for the english speaking world, a lot of the support for BCH comes from china, where the miners feel like they're getting fucked.
If you do think that market cap should be conserved, then relax. Your BTC will drop by exactly the price of BCH. (So bitcoin down by 11% in my example). Cont >

Given all this, you think it's an effective strategy for me to just keep all my btc in alts as it currently is and just wait for the drama to be over?

BitcoinCash are going against the majority. We voted, the nodes, the miners, the businesses, ... and got the majority on the current chain that you see and is called bitcoin.

yes, in the long run,but in the short term right after the split, there will be panic initially as btc should logically drop after the split, and rise once bcc slowly dies.

It's what I'm trying to explain from the beginning here but it seems like no one can understand. And look I tried to explain in a way that even a retarded 10-year-old would understand.

The US has the largest equities market in the world, and you are kidding yourself if you think its rules won't have a global impact.

So your total value will be conserved because the BCC and BCH will sum to the same value. Of course, if you think one will outperform the other in the long run, then it makes sense to move to 100% that, but that's a concern beyond the immediate neighbourhood of the split.
Basically, if you think BTC is doomed, there's no point selling because it'll be worth 0. If you think BCH is doomed, there's no point selling your BTC for it because BTC will go to zero any way. If you want to hedge your bets, keep both, and the market will price them according to their relative chances of success.
I don't think the markets are actually efficient (particularly in crypto), so I won't be taking this laid back approach. There's money to be made if you can guess the relative capital-weighted support for BCH better than the market.
Either way, once this is all behind us, expect to see a rally until the 2x hardfork slaps us down again.

im entirely in alts right now

basically have 0 btc/eth/ltc, except scraps from buying my altcoins

my top 3 are Neo, Monero, and Siacoin

waiting patiently and i expect to be up a lot by mid august

Bitcoin above $2800, oh no guise this means bitcoin is surely dead this time

>and Siacoin
The time for this one is coming, soon. I'm enjoying the low price, it's giving me the time I need to accumulate.

The captchas dont lie user

That wasn't a "flash drop" but a steady decline. It was FOMO, that's all.

>Gemini sends out an advance "no deposits/withdrawals on BTC" for 8/1
>Coinbase sends out "no TRANSACTIONS on BTC" for 8/1
I smell the fattest short

BAKA when you don't understand that bcc is not the same as printing more bitcoin. bcc coins are not accepted form of payment anywhere at the moment. you need industry adoption

>That's why suddenly having double the amount of currency will halve the price.
Except the fact that BTC =/= BCC. They are two completely different assets. The price of BCC is just like the price of any other altcoin.

but you could just stay and hold both BTC and BCC. wait for the market to recover even if it takes 1-2 months and you are back to your old BTC value + you gained whatever BCC is worth at that time.

Also I think it is probably smart to go into ETH right now because a lot of the money is flowing from ETH into BTC right now because of the free BCC on the horizon. So it is only logical some of that money will flow back into ETH and get it back up to where it was before it dropped a few days ago. or is that not a good assumption ?

what the hell is this bbc? big black cock? should i be conserned as a massive bitcoin holder

>illiterate /pol/ user
>obsessed with black cock and finds a way to bring it up no matter what
im really surprised

>Investing in ETH
>When its smart contract competitors are going to start having completed projects before the end of the year

what competitors

Holy shit you people are stupid. BCC is a different asset from BTC.

THEY ARE NOT CONNECTED IN ANY WAY. BCC is simply another altcoin.

THERE IS NO SPLIT. None. Zero.

The reason why BCC's supply is the same as bitcoin's is because of principle. That's the only reason why.

There is no split. You cannot affect the price of Bitcoin by creating coins out of thin air as a "fork". I dont get why you people are so fucking stupid that you dont understand this.

thanks for the info. im no more concerned about this bbc thing

>Your BTC will drop by exactly the price of BCH.
This is wrong too. You're assuming that money coming into BCC/BCH will be coming from BTC. That money can come from anywhere, not BTC. There is no universal law that states that in order to purchase Bitcoin Cash you need to sell Core.

Bitcoin Cash is just like any other altcoin.