I woke up to Bitcoin Cash prices up almost 30%. I know I've advocated Bitcoin cash, and that it's not the most popular thing to do - but I see the utility of BCH vs BTC at this point.
Bitcoin was supposed to be peer2peer payment and not Whale2Whale. For the record, I do own 60% more Bitcoin cash than I do Bitcoin core. Meaning, I own a LOT more value in Bitcoin core than in Bitcoin cash. However, I would profit from a flippening event. But it hurts every time i see Bitcoin core fall in value. Why? Because I love Bitcoin, regardless of it being Bitcoin cash or core. And I hate to see the community divided.
First they ignore you, then they laugh at you, then they fight you, then you win
Like you know, I'm not taking side in the BTC vs BCH debate. I think it's ridiculous and childish. But looking at the facts, and looking at what's going on, I must stay objective and emotionless If I'm going to make good decisions. And at this point people are definitely mocking and laughing and hating on Bitcoin cash. And you can say what ever you want about Roger Ver and his methods. If it was an attempt on a take over, I don't know. But from what I know about human psyche and markets, I think there are good odds that BCH will be adopted. Some people are very vocal when it comes to bashing BCH, but the majority of people are not. What they are concerned about is how they can make a good investment and make a lot of money.
I've seen this kind of hate before - against Bitcoin. And who had the final laugh?
Personally I don't think there will be a flippening. I think Bitcoin cash will grown a lot in value, while Bitcoin will stay more stable. This is because BCH will become easier to buy with Fiat, and I suspect Coinbase and or other exchanges will add Bitcoin cash. And as more people see the utility in BCH they will buy that instead of Bitcoin. My theory is that we will see an unprecedented growth in BCH, while BTC will slow down a little bit.
This of course will mind baffle the media, which will report on things like "has the Bitcoin bubble burst?" "Why has it stopped growing". Because the half brained journalists has not understood two things; 1, that Bitcoin core owners pre August fork also owns Bitcoin cash, and 2, people buy Bitcoin cash which is a fork of Bitcoin core - meaning the Bitcoin blockchain is still increasing in value even if BTC is not. It has just forked into something more usable. And more people will slowly get into BCH. That's just how markets work. If Bitcoin is not transacting, and you can't send your Bitcoin, or the fees are 20% of your accounts worth..meeeeh, you're going to look for options. And that's partly why we're seeing this huge demand for Litecoin and BCH. As more people AND commerce are adopting to cryptos, demand for actual peer1peer transferrable currencies are increasing. Bitcoin core CAN'T do that at the moment.
I still believe they will continue to live side by side, serving different purpose. But on the looks of it, I struggle to see Bitcoin core being the coin that will increase the most in value the coming year.I think Bitcoin core will level off around 20-30k in 2018. I mean, I would be thrilled and happy with that. At this point I'm going to be very happy if it just stays at this level. Bitcoin cash however I think will go 5-10x next year. Same with Litecoin.
This is not investment advice. I am not a professional, and you should never take advice from a Viking - on any issue. I do own 60% more Bitcoin cash than Bitcoin core, so I am biased towards BCH. However, my opinions are 100% honest and I want both coins to survive.