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Bitcoin Cash (BCH) and Bitcoin (BTC) Showdown – Let the Fight Begin

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In the Red corner, we have the dominating, crypto crushing, sledge hammer of cryptocurrency investing…. Bitcoinnnnnn… In the other corner, we have the fast talking, quick moving, fancy footwork moving, sly… Bitcoin Cashhhhhh. Let the showdown begin.

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I don’t usually talk about Bitcoin as I like to invest and focus on altcoins, however I wanted to go over this now because altcoins are tied directly to Bitcoin. Usually, when Bitcoin rises and goes on a decent bull run altcoins will fall and vice versa. Even though I don’t talk about Bitcoin much I do watch it on a daily basis to better forecast money flowing back into altcoins or into Bitcoin. The Bitcoin hard fork has affected the market drastically. Watching Bitcoin and Bitcoin Cash fight it out would be slightly amusing (if so much money wasn’t involved). This proves that a lot of the market is based on emotional response and not necessarily fundamentals. Ethereum and Litecoin are far better than Bitcoin Cash. BCH has “borrowed” the Bitcoin name and the man behind it, Roger Ver, is pushing Bitcoin Cash hard as “the” Bitcoin. I wanted to go through this a little because I believe that Bitcoin Cash is being manipulated at the moment. While Bitcoin Cash does offer a little value but it is doing so well by borrowing the Bitcoin brand name.

On a side note, Bitcoin is getting a ton of press and attention from people that have never even heard of it because of ICOs, SEC scrutiny, Jamie Dimon (CEO of JP Morgan Chase) and from the interest of traditional investment firms announcing futures trading based on Bitcoin. Also, a very popular show called The Big Bang Theory will be dedicating an entire episode to cryptocurrency called The Bitcoin Entanglement which will air on November 30th. 14 million people watch that show. The IRS and the SEC are looking into cryptocurrencies closer and is starting to figure out how to regulate ICOs and how to tax cryptocurrency investing. Just something to keep in mind.

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From an objective point of view let’s look at what BCH actually does offer. To be 100% clear, I am not promoting one or the other. Personally, I have moved everything into alts until the Bitcoin showdown is over. One thing to think about is the majority of the volume going into BCH is coming from Korea. That means that most are not selling off their BTC to get into BCH. A lot of the BTC drop, I believe, comes from those that had gambled on BTC going up with margin accounts now are cashing out to cover their borrowed money. BTC sell off is also coming from those that have taken a profit believing that BTC is at a short term all time high. There is a lot of uncertainty with the BTC hard fork, BCH buyers and manipulation to make it look like it is taking over BCH. Enough of that, let’s get started:

Bitcoin Cash offers a block size of 8MB, while Bitcoin has a block size of 1MB. BCH speeds up and decreases fees of transactions. This is actually a major deal.

Bitcoin Cash offers replay and wipeout protection which will protect investors from losing their coins during forks.

Bitcoin has the original brand.

Bitcoin has a very large, loyal community. Most Bitcoin maximalist will stay with the original and support it being updated for scalability.

What I am doing is waiting, watching to see what happens regarding the Segwit2x hard fork and Bitcoin Cash. My main trading activity will be focused on altcoins and not in Bitcoin. I am not a financial advisor so please do your own research. Wait, Watch, Fight…. CryptoDayTrader out!

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2 Comments

2 Comments

  1. csinkey

    November 12, 2017 at 1:26 am

    This analysis is missing miner profitability analysis, BCH difficulty adjustment, and makes no suggestion as to which coin will be where in any particular amount of time. How is this article helpful to anyone wanting to understand what is happening right now? How about real insight into why BCH is rising, BTC falling (also, this was posted 12 hours ago, after segwit2x hardfork has already been cancelled yet author says hes waiting to see what happens w the fork?!), and which coin is likely to have staying power over the other. Honestly frustrated by this article, would expect this level of analysis on Medium, a free site. Please enlighten us with not just what is happening but why! Thats what we pay for

  2. Kent Hamilton

    November 13, 2017 at 7:09 pm

    Hey, thanks for reading. First off, the fork has not been cancelled. It has only been postponed. There is so much happening behind the scenes that is conjecture that it is hard to explain what is happening. The real fight is happening between Roger Ver and the Core Bitcoin team. It has been said that Segwit2x was never meant to happen but was part of a larger plan. To be completely honest, this explains exactly what is happening. Roger Ver and team is manipulating Bitcoin Cash and the core team is fighting to keep control of the hash power. The miners are looking to switch to whatever coin is making them the most at the moment. No technical analysis will tell you this. Just as the article states, this is a fight between BCH and BTC and miners want to control which coin wins. Roger Ver is trying to take advantage of this while the fork is happening and core seems in a weak moment. Difficulty adjustment and miner profitability all hinges on which one the miners choose. Understand that this article was to bring the behind the scenes fight to people’s attention that may not know about it. Even the best technical analyst cannot tell you where the coin will go in relation to the fork. No one saw the BCH parabolic run before it happened because it is 100% manipulation. If you are a long term holder of BTC then I would leave it alone as to not create more instability in the core BTC coin.

    I am not going to pretend to know what will happen with the fork, BCH and BTC over the next few weeks as some of this has caught everyone by surprise. Here is the letter that everyone is talking about if you want to know the conspiracy behind the fight:
    https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/

    It is not a great idea to rely on technical analysis right now in my humble opinion. Have an awesome day.

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AirToken (AIR) – Extremely Undervalued Long-Term Investment

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I have the opportunity to research many altcoins on a daily basis. While reading through altcoin websites and whitepapers, it sometimes gets overwhelming. The reason is that a lot of altcoins are doing amazing things with their technology, but it is hard to understand what exactly they are trying to accomplish and how the token integrates with their product.

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AirToken has been a breath of fresh air. I am always looking for companies that are solving a real need and utilizing their token in a way that is integral to the ecosystem of the company, and not just an afterthought to raise money.

AirToken, which was founded by a former Google employee, provides mobile access to the underserved. It is based on the assumption that the cost of mobile data and internet access is too high for some to afford. So, how does it work?

Users earn free AirTokens by using the AirFox browser. AirTokens are earned and redeemed for data on pre-paid plans. Reaching those that are currently using pre-paid plans will lower their cost with redeemable tokens. A user simply watches advertisements from the free Android app as well as the AirFox browser. The user earns free AIR tokens and will be eligible for micro-loans based on the proprietary AirToken scoring system.

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Let’s look at the current state of AirToken:

Following the AirToken ICO, you can see that it had a couple of spikes but has since leveled out. The current price of AirToken will change very quickly after a couple of things happen. First, AirToken will need to get listed on a major exchange, and this will immediately increase liquidity and volume. From what I understand, this is supposed to happen as soon as next month. Second, AirToken releases Phase 2, which allows users to recharge their pre-paid mobile cards as well as obtain physical goods by redeeming AirTokens (AIR). Hitting this milestone in the first quarter of 2018 will accelerate growth by attracting more companies to participate in the AirToken advertising and micro-loan program.

Companies like AirToken that are solving real-world problems are pioneers in the blockchain and cryptocurrency space. A lot of the altcoins will come and go. Some will never deliver a product, while others will just take the ICO cash and run. I believe AirToken is here for the long-term. AirToken is easy to understand and is helping a large part of the population that may otherwise be forgotten. When I  look for altcoins to invest in, the most important financial factor for me is the market cap. You can see that the market cap is currently only $5.5 million putting AirToken in 305th among the list of other tokens at the time of this writing. In my professional opinion, once AirToken hits its first major exchange, the market cap will easily rise to $20 million, a 4x ROI (Return on Investment). While I believe AirToken will rise much higher in the long-term, this is a conservative, realistic view of the short-term growth of this token.

Disclaimer: The analyst does not currently own AIR tokens but after researching may put some cash in for a long-term hold.

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Altcoins

Trade Recommendation: Enjin (ENJ)

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Enjin Coin has recently finished its ICO and is currently available on a few exchanges. The primary metric to look at is the market cap of a company, especially after the initial exchange selloff. Most ICO investors are looking for a coin with a small market cap so that they can get 2x – 5x return. Enjin Coin has a very low market cap at the moment in relation to the maturity of the company. This will be a great candidate to swing trade. There are four reasons this coin is a swing trade candidate besides the fact that it has dipped to previous lows and is a great buy at the moment.

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1. Enjin currently has a contest running on Binance.com that will pay large amounts of ENJ tokens  to the top holders during the competition. This ends on November 25th. Basically, you just have to buy ENJ on Binance and hold it until the end of the contest. The top holders will be rewarded. Here is the contest info: Enjin Binance Contest

2. Enjin is releasing its Mobile Smart Wallet as well as the Minecraft plugin soon. This will allow game developers to use ENJ in the gaming community.

3. The chart shows the MACD crossing upward over the EMA 9-day signal indicating another bullish run.

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4. Enjin could be compared to GameCredits, which is currently trading on Bittrex. GameCredits has a market cap of $123,000,000; DigiByte has a market cap of $85,000,000. If Enjin only reached the market cap of DigiByte that would be a 5x ROI and if it reaches GameCredits’ market cap then investors would see an ROI of 8x. For the short term, the entry point is 0.00000265 BTC with a stop loss order placed at 0.00000242 with a profit target at 0.00000318 BTC.

Market: ENJ/BTC
Buy: 0.00000270 BTC
Stop: 
0.00000248 BTC
Profit Targets: 
0.00000324 BTC – 0.00000328 BTC

If your profit target hits 0.00000324 BTC, you will have made 20% return.

Disclaimer: The analysis is invested in ENJ.

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Bitcoin Gold Developer Is Allegedly Profiting from a Hidden Fee

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Controversy surrounding the Bitcoin Gold (BTG) project intensified Thursday after it was uncovered that the algorithm’s developer has been allegedly profiting from a hidden fee. The news is just the latest setback for a project that has failed to win over investors.

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BTG Mining Pool Fee

Rumors circulating on Bitcointalk suggest that Bitcoin Gold developer Martin Kuvandzhiev allegedly integrated a 0.5% fee into a BTG mining pool that was then directed to his cryptocurrency wallet. It was later reported by CCN and others that some mining pools removed the code as it became publicly available. This is what some members of Bitcointalk suggested in their daily musings on or about Nov. 15.

Without getting overly technical, the fee appears to have been hard-coded into the z-nomp fork, which means this was a concerted effort to raise the 0.5% revenue.  Kuvandzhiev said he was aware of the embedded fee and decided not to integrate it into the main code. However, there has been no concerted effort to remove it, either.

Kuvandzhiev responded to the allegations in an interview with Bitcoin.com, where he said the code was open source all along and that it wasn’t hidden from pools that wanted to remove it.

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A fee of “0.5% for a regular miner is less than a $1 a month,” he said. “Don’t act like it is too much. The other software has 1-2% fees and are closed source…”

The developer also clarified Bitcoin Gold’s premine period, which is generally known to be 8,000 blocks. Kuvandzhiev said that 60% of it is time-locked for the next three years.

Controversies Abound

Bitcoin Gold has been at the center of controversy since its developers announced plans to fork the blockchain several months ago. The hard fork was kept tightly under wraps by the protocol’s backers, leading many in the cryptocurrency community to question its integrity.

The project, which is being led by Jack Liao of LightningASIC, was intended to democratize the blockchain’s lucrative mining structure. But a failure to publicize the fork and the private mining of tens of thousands of blocks raised suspicion that Bitcoin Gold was a way for its developers to enrich themselves. An unfinished proof-of-work implementation was also raised as a potential flag.

BTG forked in late October, but officially launched this past weekend. Its value plunged immediately after the network survived an alleged attack by hackers shortly after launching.

BTG Price Levels

The ensuing controversy has left a major dent in Bitcoin Gold, with the value of the digital currency falling more than 7% on Thursday. At press time, it was seen trading at $151 on daily volumes of $29.2 million.

Prices exceeded $500 after the cryptocurrency went live during the weekend. However, it didn’t take long for prices to halve before continuing lower to their present values.

With current levels in mind, BTG has an overall market cap of $2.3 billion. According to data obtained from CoinMarketCap, much of the turnover has occurred on the Bitfinex exchange.

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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