Inside the current BTC-BCH Situation

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Comparative to BCH and generally alts,BTC is outdated in tech and specs compared tomost alts and its own forks.

All miners were hoping and pushing the Segwit2x fork, and as we know it was canceled, not by the community nor the people who signed the New York agreement (Roger Ver, other major BTC and fork coin stakeholders, exchange owner groups, mining pool owners, etc)with a purpose of essentially dethroning BTC and taking over.

Now, conditions and circumstances for miners were going to be much better due to tech upgrades (mainly this whole thing is due to them not getting the 2MB blocksize)and other terms BCH and B2X have set/had set, however due to the cancellation by the leader of the Segwit2x project andfork cancelling it from happening, these miners, who progress BTC and move the blockchain along, in retaliation and in uproar (for the sake of profits) moved over to BCH as Segwit2x (B2X) was cancelled, which would have contrasted well (in miners case and in the case of the major stakeholders and exchange and mine pool owners and in their benefit)

again, to retaliate, Miners moved their profit and BTC to BCH as its better techwise than BTC. Now, so what? The thing with miners is they run the hash power, they are the ones progressing the blockchain and mining the blocks to keep TX running and transactions processing day after day, hour after hour, minute by minute, transaction by transaction.

If miners were to move their BTC and hashpower to another currency and leave BTC, rally a fork coin and try to take down BTC to further the Segwit2x mission essentially, this is quite scary to think, not just for BTC, but for alts. Remember, BTC affects coins based on Bitcoin Core, and BTC also affects ETH. ETH affects ETH and Solidarity based coins, however BTC indirectly yet directly affects all of alts across the board.

After news of cancellation just 2 days ago, everything boomed crazily. Now today, its a complete bear market after BTC and alts selloff for BCH to stop BTC in its track.

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Remember where I spoke about the New York agreement and how mining pools like ViaBTC and Kraken etc were into it to retaliate vs BTC?

ViaBTC collectively has 17% of all miners aka 17% of the BTC hashrate, and Kraken has 13% respectively, both CRAZY AMOUNTS. In scale, all miner pools own or control about 90% of BTC's total computing hashrate... yea.

A full fledged miner attack and switch to BCH can fuck BTC over.

We saw an ATH @ $7800, and now over $1,000 down within 2 days due to just miners switching to mine BCH and leaving BTC without the same level of hash power, and taking their BTC and throwing it at BCH.

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TheSEGWIT2X fork is actually happening and in progress, just not with a new currency or exact fork. Also note how not just BCH is pumping hard, Segwit2x [Futures] is pumping extremely hard.

Also on Bittrex, BCH has a 24hr volume of worth of 36,000 BTC. YES, a worth of 36k BTC. And thats not amounting for all exchanges... total volume across all exchanges5,169,800,000, while BTC's total volume is $5,193,500,000...

EDIT: BCH has surpassed BTC in total 24hr volume by +$50million...



yup

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I truly wonder one thing now, and I'm not a conspiracy theorist, but could this have been planned to happen? It's alltoo coincidental...

Think about it (in chronological order?):

[quote pid='56201058' dateline='1510362595']
[*]We know what happened with BCH (bitcoin cash) and it's huge dump
[*]Then the Segwit2xFork introduced with the wish of the whole mining community to have 2MB blocksizes (which BTC didn't offer, while BCH did)
[*]New York Agreement signed to forego on with Segwit2x (huge mine pools, major BTC BCH shareholders, Roger Ver (bitcoin.com guy who promotes BCH as BTC or more so than BTC, and he is one of the biggest pushers for BCH
[*]The (first)fork suspended randomly by an"ethical" stop by the leader of the Segwit2x project fork, that its "not good for the community and the BTC ecosystem"
[*]With this news and prevention from the Bitcoin Core Foundation, miners get pissed within the next 2 days w/o the 2MB blocksize promised
[*]Roger Ver promotes BCH as a safe haven for miners, since BCH has a 2MB blocksize
[*]Miners take their money and BTC and hashpower (miner pools and the companies/people who signed the New York agreement own about 90% of all of BTC's computing hashpower) and pump it into BCH
[*]BTC drops +10%, FOMO - fear of missing out turns into FOLM - fear of losing money, people sell out, prices drop
[*]FOMO develops for BCH as BTC dips
[*]Re-buyin point created yet again?
[*]BTC forced to adapt 2MB blocksize and Segwit2x on BTC, not a fork coin previously made?



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