The Bitcoin Cash situation is getting more interesting by the moment.  HitBTC announced that they were going to give their users their Bitcoin Cash after the fork on August 1st.  So if someone has Bitcoin parked there you are supposed to get your Bitcoin Cash deposited into a separate wallet for the same amount of Bitcoin that you have there.   I don't recommend utilizing that strategy to hold our coins through the fork. I recommend that you utilize a wallet like Electrum to hold your coins.   

So basically if you haven't heard their is Bitcoin Cash futures trading on a Chinese exchange called ViaBTC. There have already been some pops and drops but in US Dollars it is trading for $351 at the time I'm typing this.   Over on HitBTC it is trading for $901.45.   The volume is somewhat low right now but is at 35 BTC worth of trading volume.   It just started out though so we will see what happens in the next couple of days.   

My Thoughts On Bitcoin Cash

I honestly think this is going to end up being a bigger player than people think right now.   Let's look at the Numbers.   Let's say there are 16,475,575 Bitcoins in circulation.   Well there are going to be the same amount of Bitcoin Cash at the fork.   Let's just say a lot of people dump it and and the price thrashes all over the place but lands around $100 / coin.   Well that is a $1,647,557,500 Market Cap which would put it #5 on the Market Cap list right under Litecoin.   

I think it is going to be for sure a top 10 crypto currency for awhile.   Exchanges will likely add it because they can generate fees off the trades and if something is heavily trade it they will add it whether they think it will survive or not.   

Miners will jump over and mine it if it is more profitable to mine than BTC.   Traders will trade it if they think they can make a buck off the price swings.  So there is going to be a lot of activity with it.   

Ultimately the scaling debate has been going on for over 3 years which personally I think is ridiculous.   I haven't been impressed with Bitcoin's inability to move into the future so the fact that someone is stepping up and forking it doesn't surprise me.  I'm actually surprised it didn't happen sooner.   I think that Bitcoin (BTC)  will come out stronger after August 1st.   

I actually think the overall market cap of crypto currency will expand from this fork.  These forks are weird because it sort of creates more money out of thin air.   

About Coinbase

It is taking extremely long to move coins out of Coinbase.   Literally like 8 hours or more.  The Bitcoin network as a whole is clearly bogged down with all these bloated blocks.   People are going to have a hard time taking a position at this point unless they can do fairly large instant buys and get their coins out immediately.   

My Strategy

I'm utilizing Electrum to store coins.  My theory is that after the fork I will be able to start another instance of Electrum but connect to Bitcoin Cash nodes and utilizing my keys from my BTC wallet I will be able to recover the Bitcoin Cash sooner than most people who aren't very technical.   I will then probably shoot them over to HitBTC and ultimately try to cash out half of the holding converting it to either to Litcoin or ETH just to move it to Coinbase and cash out.   I will likely let the other half play out.   

Additional Alt Coin Play

Because so many people are selling their alt coin positions for Bitcoin to tap into the Bitcoin Cash coins in the next couple of days I will likely bring more fiat into Coinbase and purchase either LTC or ETH.  Likely ETH just to move it to Bittrex and since they have a pretty broad ETH market I will be able to trade into other things like Monero and other coins where I think there will be a sell off to BTC just to tap into the Bitcoin Cash.   I'm going to try to pick up a quick ride in the alt coins and then shoot that back to Coinbase and go back to USD again potentially.   

Conclusion

• I think there will be a larger support for Bitcoin Cash than people initially thought. 
• Exchanges will support it to collect trading fees. 
• Miners will mine it if it is more profitable to do so than BTC.
• The network won't be bogged down like BTC.
• It is an opportunity that is exciting to me and is like a strategy game to capitalize.  
• I feel that Bitcoin Cash will be at least a top 10 crypto for awhile.

None of this is trading or investment advice.  I'm just a guy who plays with blow up toys in the pool.  Make your own investment decisions or ask your grandma for advice.   

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