WOW. As you may know, I bought quite a lot of Bitcoin Cash (BCH) at around 600$ a week ago (which I wrote about in this post: .https://steemit.com/bitcoin/@scandinavianlife/my-stance-on-bitcoin-and-cryptos-a-week-before-the-forkening) woke up this morning and saw that my holdings was up almost 2,5x from the day before. I did not manage to get my morning coffee made before it fell to something like 1x and before I had managed to understand what was going on it was only up something like 20%
Well, I did not end up selling a single BCH yet. I have not sold a single BTC yet. I do however own exactly twice as many BCH as BTC. I do not cheer for any particular coin.
What I have learned today is however this.
Bitcoin needs to evolve. Satoshi made Bitcoin for transactions, and right now Bitcoin is almost useless for transactions. Queues are building up and fees are sky high.
BCH is not a final and ultimate solution, but it is an advancement.
You might not like the way all this went down, but it was never manipulation as far as I can see. Roger Ver was very open with what he was supporting and doing. Fortunately everything is transparent on the Blockchain. There was no surprise what would happen when someone (Ver) moved 25,000 Bitcoin over to Bitfinex and crashed Bithumb.
There is a possibility that both chains can exist together. Perhaps the point is not that Bitcoin is perfect, but that we have one Bitcoin that is a store of value, while the other is for transactions.
The fight is not over, and we will see a lot of volatility. Millionaires will be made while others will be bankrupt.
Right now, that's as much I know. I'm not sure what will happen. But I will continue to hodl both Bitcoins, and I will probably take a little bit of a profit if we see prices like $3000 BCH. But I will primarilly hodl.
Good luck, and I hope you all are prosper in these turbulent times.
