Dumping "Bitcoin Cash" on the exchange will actually hurt Bitcoin(BTC) in the long-term
A lot of people are very emotional about the Bitcoin split at the moment and they are planning to dump the bitcoin cash(BCC) right the way. This will actually hurt the real Bitcoin(BTC) in the long-run and slow down the adaption of cryptocurrency, here is a thought in a different perspective: While everyone is dumping bitcoin cash, whales could potentially take advantage of this and buy most of BCC to manipulate the Bitcoin Cash market. Later on, they can drive up the price of the bitcoin cash and even surpass the BTC price to attract more investors onto Bitcoin Cash. This will cause confusion to new investor and they will think this bitcoin cash is selling at a higher price, it must be the bitcoin I've heard about from the news. That's going to slow down the adaption of cryptocurrency since all Altcoins follow the price of the big daddy bitcoin. If you are planning to dump/sell Bitcoin Cash, please think twice if you want the real Bitcoin to succeed. I will personally keep all my Bitcoin Cash and let it die naturally. What's your opinion on this?
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Agreed. I am taking a little different tactic. If I see the price of Bcash plummet rapidly I will sell it. I will then turn around and buy it all back at bottom prices. That way, you can make profit once from panic selling and once more from the ride up with the whales. And then probably again when (old) BTC skyrockets. You can make $ from the fork on all fronts. May the best bitcoin win!
May the force be with us. :)
Interesting idea. But every side has a risk. You don't know what will work out.
That's true but if the BCC's price gets dump to less than $30, I would buy $1000 worth of BCC to take the chance. Keep in mind never invest using scared money.