Easy mining.

As the difficulty for SegWit dropped.

BTC going towards 5K.

Is it too early to shout it out that the original Bitcoin is the winner? There still seems to be a big mining battle going on. And I already have explained that there is a fishy smell to that split version named Cash. There is the low market price for BCH, and there is the low 24 hour trade volume. Sometimes there is a peak in mining power for the split version, that makes no sense. Why? Because of the economical incentives. It is very doubtfull that huge mining pools are willing to lose out on a piece of the original Bitcoin pie almost worth 8 million per day! So, there has to be some financer, of some sort, that is willing and able to finance this weird mining behaviour. And the price must have been set very high to compensate the miner pools for their loss on mining Bitcoin {BTC}. This is going to cost somebody billions. But that is available in the Cash{ BCH} split version, right...?

When one looks at the 24 hour trade volume for BCH then that shows a slow decline in price. Now let us assume that this sell off is used for compensate mining pools for their loss in real Bitcoin {BTC} income. Then that would mean they still may get payed in BTC, that would rise the price of the original Bitcoin. Those who have watched the mining numbers the past week may have noticed that a lot of pools moved back to the BTC blockchain at a certain point. And that was the right economical choice to make, right? Then all of a sudden things apparantly were moving back to the split version valled Cash. This makes absolutely no sense when miners were actually concerned about Return On Investment {ROI}. So, then the question rises: "Who could make this happen?" Well, a group with a lot of cryptos to finance pools to mine BCH. And that would be those who have Bitcoin worth billions and the same amount in Cash {BCH}.

And whenever payment is needed to keep the miners compensated BCH will be sold. Maybe somewhere in the range of 5 million might be needed. On a daily base that is. But, dumping Cash like that on the market will lower the price of BCH. Because others will follow that lead. Low volume trading in 24 hours and large selling of BCH? That will trigger a lot of other Cash holders to sell. But, as not many trade in Cash right now, the price of BCH will go down slowly. Until at some point the reserves to pay miners to keep mining BCH will dry out. And then at some point, if this coup goes all wrong, the big owners of BCH will start to dump their Cash. Can this be turned over by those who still own BCH and want Bitcoin to win? Well, in time it will anyway, but for those who want to Cash out, now might be a good time to do so.

Bitcoin will mine easy.

With this investment attack on the original Bitcoin there is probably an advantage that the split version creators had overseen. Because at some point, while the Cash group is busy buying pools to support BCH mining, the result will be that the difficulty will go up for the Chinese split attack version. And also another effect will be that Bitcoin, the real one with SegWit activated, will get a lower difficulty! So, it will become harder to mine BCH, that keeps dropping in market price. While the one that gets easier to mine, BTC, goes up in price! Soon to reach 5000 US Dollar. You see why I think there is something fishy going on with the BCH mining? When miners were concerned about losing Return On Investment {ROI}, why then would they now take weeks of losses? This stinks, although I can see how this could be pulled off, as long as BCH can generate about 5 million dollar a day in sales. And when Bitcoin, the real BTC, goes up to 10.000? Or all of a sudden to 40.000?

Now there is all kinds of information being spread. So, who is right and who is wrong. Well, in case of SegWit, Litecoin already had it activated long before Bitcoin. And that one is doing just fine, undervalued still, but steady as it goes. There is a move over period for SegWit to settle in well. Still the price of BTC is up and rising. Now, because of the virtual value inside BCH {Cash}, it could be milked for quite a while. Remember though it is not real value, it was carbon copied in a clever way. An initial price was set and from there on it even got a virtual market capacity. This is a kind of weird, but stranger things have happened. The fact is that the Chinese split version {BCH} carbon copied the Bitcoin {BTC} one and pulled invested capital out that way. Some might even state this should actually be known as a hostile take-over by a group that call themselves bitcoin maximalists. And I started to notice them as fanatics, here at Steem too.

Counter the attack.

Well, I think that the Bitcoin community has a right to defend itself against any split attackers. Some things will sort themselves out. Like mining difficulty adjustments. Currently that is looking double advantage for SegWit Bitcoin {BTC}. The other thing that would help is when trade in the carbon copy version called Cash {BCH} would stop. Preferably after a massive dump of BCH, so it would crash down to a more realistic value, that relates to their own mining since the split. So, it should start at 1 Satoshi and then see if the cryptocurrency market still will want it. But, chances are that this will not happen any time soon. It would help though to sell BCH as much as possible. And buy cryptos that have real value and not carbon copied virtual value. The current value of BCH is fake anyway. It should not be there in the top 10, not even in the top hundred. At least that is my conclussion.

The mining advantage will still be for Bitcoin, with SegWit now activated. For a part because of the markt price. And because more will finaly understand that it holds the real value. Cash should have started with a genesis, not carbon copy, that makes it a hostile take-over investment attack. But then again, there are already cryptos with big blocks, like BitBeans for instance. Anyway I could go on for pages why BCH should be getting dropped to get a more realistic value of a few cents, counting the value from the moment it really got mined. It should, but there is a small change it will on a short term already.

Bitcoin wins, hands down.

But, the best way to counter the investment attack of the split Cash version it through the cryptocurrency market. That will show what is really going on. And that will proof that BCH has only carbon copied virtual value. If this milking cow dries out, Cash mining will collapse. Because the miners that were compensated will not be payed millions anymore. Is this too far fetched? Well maybe, but to mee there is not logic in mining BCH, except believing the void one day will have a lot of value. That seems very improbable to me, so somewhere there is a manipulation going on. And my guess it is done with the virtuall carbon copy Cash that slowly gets dumped on the cryptocurrency market. Hence the slow decay in the price of BCH and the low 24 hour trade volume.

Some might still want to hold on to the false virtual value of BCH. Even if there are enough signs not to fall for this carbon copy trash. And I am probably not the first one to warn for this Cash out coup, nor will I be the last one. Anyway remember to only invest in cryptos what you are willing and able to lose. And your speculation might be as bad or as good as mine. But I think Bitcoin, as in BTC , already won and will show its victory in its market price.

Have a great one.

Please note: This is a blog where I express my personal opinions. For me that is objective, for others that will always be subjective.

And the winner is? Bitcoin!

image cc-by-sa @oaldamster

EDIT: Text corrections.