Bitcoin War Begins - Bitcoin Cash Rises 50% While Bitcoin Drops $1,000 In 24 Hours
Don’t be fooled… there is a war going on for bitcoin.
I posited to TDV subscribers months ago that factions of Bitcoin Core and Blockstream are a globalist attempt at taking over or destroying bitcoin. Or at the very least, an attempt to profit from it being slow and expensive.
How else can you make sense of a group that thinks it is totally fine for bitcoin to have transaction fees in the hundreds of dollars. In fact, they prefer it to be expensive!
Bitcoin Segwit2x was purported to be the answer to speed and cost issues. And, as we know, that fell through this week.
At first, the cryptocurrency space did not know how to react. Bitcoin surged to nearly $8,000 on the news and then quickly retraced back to near $7,000. Altcoins soared as much of the crypto money was waiting to ensure they retained their bitcoin through the fork before deploying other bets.
How quickly things change.
Today, bitcoin sank below $6,500 and the alts got demolished. Only one cryptocurrency stood out in the green today… and big time.
Bitcoin Cash soared more than 50% and peaked over $1,000 earlier in the day trading nearly $5 billion in volume… almost the same as bitcoin.
That’s a stunning 200%+ gain from $320 where it sat one month ago.
I recommended strongly to TDV subscribers (subscribe HERE) in August not to sell Bitcoin Cash.
The reason? It may end up being the real bitcoin.
What is the “real” bitcoin, you ask? That’s a tough question to qualify.
But if you thought bitcoin was an anarcho-capitalist digital currency meant to make the current central banking fiat currency system obsolete by being able to handle transactions of millions or billions of people for little cost and with digital age speed… then bitcoin is Bitcoin Cash.
I don’t know how to explain the actions of many of the Bitcoin Core developers.
Blockstream is the biggest funder of Bitcoin Core and employs many of the developers.
Who owns Blockstream? Well, one of the main shareholders is insurance giant AXA. CEO and Chairman of both the Bilderberg Group and AXA are the same person, Henri de Castries.
Yes, essentially, the person most in control of bitcoin development is the Chairman of Bilderberg; the place that I have gone for the last three years to expose from the outside! And, even one time, briefly, from the inside.
If the globalists wanted to destroy bitcoin, they would do exactly what they are doing with Blockstream.
Does this mean that I think some of the top developers of bitcoin code are part of the globalist agenda to destroy bitcoin? Only they know.
But, I wouldn’t be surprised if they’ve been duped.
No offense, but I know techies. They are wonderful and incredibly necessary to design code.
But, when it comes to understanding how life works, economics, money, marketing or even how to pick up girls… well, forget about it.
In any case, whether they are aware or complicit or not, the anarcho-capitalists are now making a strong move to take back bitcoin and leave it and everyone alone.
Anarcho-capitalist and USSA defector Roger Ver of Bitcoin.com has been a very important part of this process.
He tweeted today:
Rick Falkvinge, founder of the Pirate Party and author of Swarmwise, has also chimed in.
And, you know me. Anarcho-capitalist and one of the biggest proponents of bitcoin since 2011.
Here I was at a hockey game last night in a third world country, always staying on message.
And, yes, I support Bitcoin Cash.
Does this mean I’ve sold my bitcoin and bought Bitcoin Cash?
No. But I did retain all the Bitcoin Cash on the August 1st fork and recommended that all TDV subscribers also HODL and not sell their Bitcoin Cash.
What is happening today is why.
This isn’t over. In many ways it hasn’t begun.
Roger Ver, Rick Falkvinge, myself and hundreds if not thousands of ancaps will be at Anarchapulco and Cryptopulco this February discussing the future of a stateless money intended to rid the world of governments and central banks.
Either you are with us or against us. If you are with us, register now to be part of the evolution.
If you are against us, get ready for a fight.
It begins.
Curious to see what will happen in the end
Meanwhile Litecoin has 0 forks, 0.01 fees and Charlie Lee!
litecoin rocks but i have none... should get some...
Few year later a man come to me and try to sell his 10 bitcion in just 1000 pound i said i m not intrested now i m thinking i m idiot lol i all aboute fate
litecoin will be awesome again soon
Is that a fart-powered train? What is that brown shit? No pun intended-
the ride might be shitting bitcoins :D
Nice logo, dude. Haven't seen that one before, but probably because I haven't really seen you on here at all in quite some time.
thank you very much, made it when busy announced their updates :)
logo was due as well :D and it's 2k now :D a bit too big for a logo :D
https://busy.org/art/@j3dy/updating-my-logo-for-the-beta-test
the root post :D
it basically took me a few hours to render out a few versions.
and yeah I was out of steemit for a bit, got really disappointed a few times and bored and left out and all that ...
or shitcoins
Lmao
I'm bummed that litecoin has segwit though. It seems like a good idea but under the surface it makes it possible (still unlikely) for someone to threaten the security of the blockchain. segwit basically allows bitcoin to break its own rules thus allowing someone to exploit it if they have enough power (ie government)
Yea I agree but it's open source and a decentralized coin so user consensus could reject any changes. At the end of the day it's up to the users to decide
Segwit allows for things like recovering loss funds and miss payments which are huge to mass adoption
super duper
Wouldn't the same threat apply to P2SH addresses?
lol a very good point there are plenty of alternatives out there
Lol God Point
It has Segwit and will eventually have the Lightning Network., So why buy Bitcoin. It makes more sense to buy Bitcoin Cash.
Used to respect, but after Charlie went on a rant against Bash, it's suspiciously simple he feels his whole project is totally threatened. Litecoin: Faster blocks Yes. 4X. 4X coins Yes. New tech? Yes viz-a-viz Segwit + Lightning. But alas, Bash came in August, and now even Lite + Dash combined is lower in total cap.
What is the “real” bitcoin, you ask? That is NOT a tough question to qualify.
BCH is the real deal, it follows Shitoshi's white paper BTC does not!
It is time to hold btc cash. Nice information @dollarvigilante
Did you really think BTC was just going to rise parabolically and not be challenged???
The bigger they are, the harder they fall...and Bitcoin is a behemoth (I'm not saying it's going to fall, just pointing out that the bigger they get, the bigger the target they become).
But Goldman Sachs said that the bitcoin will consolidate at $8,000
I think people are going to see quickly how limited BCH is as well. I also really believe a big part of the sell off was from news that bitcoin classic is no longer being supported and instead they support BCH. Well hearing bitcoin classic I think most people thought of BTC which ITS NOT! perhaps people will realize this soon or maybe its already happened as we seem to be on a steady increase again in BTC.
Whats scary is simple misunderstandings and news can alter the value of a coin by that much it almost makes me want to cut my profits here soon and run because honestly a majority of people are real dumb when it comes to investing and trading sorry to say.
On that note, I'm wondering how much BTC will keep being pumped up simply because main street just knows "Bitcoin" and at which point will main street flip to Bitcoin Cash - will $2,500 be enough or will it have to surpass Bitcoin? Or will it just be a news event like Coinbase switching the designation?
I just dont see it overtaking it, there is to much infrastructure etc backing BTC compared to others like BCH. Correct me if I am wrong but all the systems out there and ETFs etc all work on the BTC blockchain and it would take some effort to convert them over to BCH ?
I think it is relatively simple to switch to BCH because it has virtually the same code as bitcoin... I could be wrong though
Well it might not be but what everyone fails to realize is BCH does 1/10th the transactions that BTC does. So their example of low fees is flawed simply because people are not using it as much as soon as they do it will run into the same exact issues and the only thing they know how to do is increase the block size from 2MB to 4MB which is murder on miners lol
They are at 8mb right now and they are testing doing 1gb blocks. Just to prove it can be done. I don't know if that's the answer, I think faster block times would be better but I'm not an expert...
How much does the news really affect market sentiment? BTC made huge gains and is having a healthy normal correction. Just seems this coincided with bch btg etc kabooms... yes it a time for alts. while btc corrects.
Is there any reason for Bitcoin holders, other than trading, to split their Bitcoin Cash. Is there a time frame for splitting or are they safe so long as u held BTC at the time of the fork? Same for Gold?
Nope as long as you hold your private keys from before the fork then you have your coins on both chains.
Thanks Patrick.
thanks to the Koreans who are pouring their money into BCH...
Korean exchange market doesn't necessarily mean Korean people. Anyone can create an account in Korbit or Bithumb. Recent US exchanges have been plague with questionable decisions of freezing account, maintenance, btc stolen (Bitfinex) and other mishaps (Bittrex, Coinbase). These users would try to use other options.
ha ha ha so love this. You're awesome Jeff
