Bitcoin Cash's value is backed by Miners
We have 50% of the mining power on Bitcoin Cash at the moment. As long as miner continues to put more hash powering onto Bitcoin Cash, the value of Bitcoin Cash will increase. Historically it took $1000 USD of Electricity to mine a Bitcoin, and now we have 50% of that money spent onto Bitcoin Cash. Isn't that eventually means Bitcoin Cash should have 50% of the value of a Bitcoin? What do you think?
Here is a graph showing the mining power in the past few days: BCH vs. BTC
ähm, NO! i'm a ex-miner and i know how things work... but thats not the point. bitcoins vaule and bitcoin cash's vaule are ONLY driven by supply and demand. like it always was. miners just put in electricity (bills) to get a share of the coins mined... and thats their calculatory game. so from what i am seeing, you might be doing it wrong?
the value of BCH only depends on supply and demand. to be honest:
people might be thinking, that Bitcoin Cash is like Bitcoin, but Bitcoin has acceptance. You actually can buy stuff with Bitcoins and this took years to develop and beeing adopted! BCH is a fork. very similar but NOT Bitcoin at all when it comes to use... you should know this! (By the way: i am not holding BTC nor BCH. it's dead technology to me, to be honest ;)
There is actually more Bitcoin Cash supply than Bitcoin at the moment, the price of Bitcoin Cash hasn't changed much still at the $600 range so supply and demand is not the only way to determine whether Bitcoin Cash has value. :)
by they way, if anything: a higher supply would decrease a coins value!!! but whatever...
talking about supply? Bitcoin Cash is a fork... of course it has the same supply than Bitcoin (maybe slightly more but it does NOT matter)... because it is a FORK!!! it has the same blockchain from 2009 until 01.08.2017 (24 days ago)... so it has almost the same supply! what are you? some kind of paid Bitcoin Cash add?
this slight difference (o.ooo1%?) in supply does not matter in this case.
I am asking you: please name ONE vendor who accepts Bitcoin Cash? name just one!?! (exchanges don't count) i could state a thousand in case of Bitcoin! this is the true use-case value we are talking about here! and Bitcoin Cash has zero acceptance in my eye. Please, tell me i'm wrong?!?
...and again. I am not affiliated to/or like Bitcoin (anymore), nor do i like this fork of it,...
By the way, I have been in the cryptoworld since 2011 so you don't need to explain to me what is Bitcoin Cash, and to me you are just one of the greedy miners who mines whatever that has more profits. Which helps creating this Bitcoin politic mess. All I am saying is the greedy miners shift a lot of the mining power to Bitcoin Cash which will help adding value to Bitcoin Cash.
excuse me, sir? i was mining, yes, but i am not mining any more... but this is not the point!
please don't tell me you are mining to help the crypto community or anything... mining is always about profit! dang... of course it is! i mean you put in a lot of electricity (CO2) to keep your ASICs running... if you want to do something good, then just stop all mining! this could safe the planet some time ... or at least contribute your hashing power to BOINC and solve some real world problems! ...if you want to do good...
but this is going too far...
ok. back to the point: so, in your initial post you stated, that you are mining BCH and how great it is, that there is so much hashpower there and BCH should/could have the same value as BTC. right?
...aaand now you are saying that these greedy miners (excluding you, i guess) mine too much BCH and this creates this political mess? maaaan? what?
can we please leave it like this? this is getting silly...
I am an Trader so I still can call you a ex. greedy miner!
Of course you can! It's Steem! There is no censorship, so the freedom of speech reigns here :)
Still doesn't make it true, though ;)
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