From: Sandara
https://www.tradingview.com/chart/BCHUSD/qXIBbiPY-Bitcoin-Cash-The-Dragon-is-Awake/
Welcome to the future, friends. So many people, all these months, have said this would never happen. Mostly, they said this during times of Bitcoin Legacy pumping. In reality, people do not care about Tether, transaction fees, confirmation times, who Blockstream is, who their backers are, wash trading, or the nature of the ultimate ending of the banks behind Core, Lightning Network.
People care about one thing, which casino token they can ride to make money on. All of their profits are eliminated during correction and the ensuing bear market, and they lose all the money in their accounts, but they couldn’t care less along the way.
Why? Because most people are simply gambling and chasing a get rich quick scheme.
Investors have made nearly 1000% since November 1. Gamblers have likely lost money. You can decide for yourself whether you want to listen to trolls, shills, and charlatans, or if you want to find better sources of information.
Right now, mining profitability has stabilized to equality after being heavily in BTC’s favour for the last few weeks.
Fees on Bitcoin Legacy have reached an astonishing $88/kb. This is up from $45-60 before last difficulty adjustment. No, I wasn’t kidding during the last week of sideways trading and choppy ups and downs about what’s coming.
Unconfirmed transactions are at a massive 220,000. This is up from a 110-185k before last difficulty adjustment. Again, this is is not a drill. Bitcoin difficulty only adjusts every 2016 blocks with an average of 6 per hour being found according to the whitepaper’s specifications.
What’s worthy of note here is that Bitcoin Legacy is processing 24 transactions per second and still encountering these problems.
What’s also very interesting of note here is relative hashrate for BTC remains about the same as its 7 day average, despite the above considerations. Yet, Bitcoin Cash’s hashrate has doubled.
Does this mean that miners have added hashpower to Bitcoin Legacy in order to keep the chain alive? Are we in a situation where rather than the conspiracy where they try to kill the chain and death spiral comes true, that they’re actually keeping it at least somewhat functional by appropriating additional hashpower to it even though Bitcoin Cash is strong?
Well, looking at the number of blocks found, we can see that is the case as BTC is being supplied with enough hashpower to stay stable at 6 per hour when it’s been mulling through an average of 7 over the last few weeks.
We also see how good the Bitcoin Cash Difficulty Adjustment Algorithm is as it’s stayed tight at 6 per hour even through all the massive hashpower oscillations.
With the additional mining on the chain right now, Bitcoin Cash will return to 6/hour in about a day.
We know the above issues are major issues. The market has indeed reacted to it. Bitcoin Legacy is now amidst the first stages of correction.
It is now returning to the long-term yearly channel line. It may bounce here, and rocket ship up. However, looking at it on the 6 hour, the patterns of all three oscillators are extremely bearish. What would be required, in my opinion, for a bounce, would be a major rip back over $18,000 sustained.
There really is a lot to the situation at hand. There is also a potential black swan on the horizon that we must be cautious of.
Price for this post will be $7.88. I am basing this price on the average exchange fee of 0.25% on 1 Bitcoin Cash at $3,400 being approximately $8.50, which means $17.00 because of having to sell as well.
I do think there is more than adequate value in this post to justify the cost by comparison to what a machine charges for clicking a button.
In this post there will be:
  • Trade structure, strategies, stops, and targets
  • Insights on the Bitcoin Cash futures market
  • Insight into the situation with a possible black swan for Bitcoin Cash
  • Multiple updates as price action progresses and as news progresses
Average trade structure post so far has gone on for 24-48 hours and has had ~10+ updates provided along the way.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
 

$3.05
0.0¢

Reviews
38 of 39 reviewers say it's worth paying for

1 of 39 reviewers say it's not worth paying for

Comments
  spent 20.0¢
@smullers - Stop-loss should be to exit your entire trading position. It's there to prevent a position from getting way out of control. That's one of the biggest ways people lose their money.
@codemojo - Dragonslayer probably isn't really a thing, in reality. Difficulty is being driven up, yes, but right now it's already in a position where they could ruin BTC by moving enough hashpower off to drop block discovery to 3-4 blocks/hour. Unconfirmed txs are already 220k deep and that's a huge problem.
Yet they don't.
@Dan - Charlie Lee just took all his skin out of the game with Litecoin. That's hugely bearish for LTC. It could be bullish in the long term as someone might actually care about the coin coming after him, but he's unbelievably awful.
@aviv - Yes USDT is dangerous. But, unless you're trading BCH on Stamp or Coinbase then that's what you're dealing with.
You can also trade into the BTC pair but then you have to hope BTC is functional and worth while.
@quang - Amidst major market calamity nothing is safe and nobody is safe. It's the same in the regulated markets. Everyone has problems when disaster strikes, so why worry about it.
@T38 - Mining is actually more profitable for miners with microtransaction fees than the current situation because it's the same idea as you can sell 100 of something for $1 or 5 of something for $10.
Mining is a long-term investment. I'm not very familiar with mining in terms of the perspective of investing so I'm not sure about resources available to be honest.
@matuap - Substantially higher than zero.
0.0¢
   9mo ago
  spent 20.0¢
Good stuff once again
0.0¢
   9mo ago
  spent 20.0¢
Oh man...you write a love story with a happy ending and now you start a horror story with a scary assed ending. Best crypto fiction/non-fiction ever
0.0¢
   9mo ago
  spent 20.0¢
How do you set stop-loss ? Do you take off a certain fixed percentage from the current value or do you have some other approach to determine the best stop-loss value?
0.0¢
   9mo ago
  spent 20.0¢
Your comment price is a bit high but anyways... the idea behind dragonslayer is exactly to push difficulty higher. Not to keep te network alive but to make it more voulnerable.
0.0¢
   9mo ago
88.0¢
  spent 20.0¢
It's so cool, I deposited BCH to yours.org and overnight I have double the money to buy paywalls and post useless comments such as this one. Rejoice :D
0.0¢
   9mo ago
  spent 20.0¢
@Imkeshav Totally agree ! Horror story indeed !
@RiversAndMountains Whats your thoughts on how the Charlie Lee news has affected this rise in BCH today ? There seems to be a few LTC holders nervous today too ?

0.0¢
   9mo ago
  spent 20.0¢
How do you do the SL in USD? Via the tether/USDT? (Haven't you said its a scam/dangerous?)
0.0¢
   9mo ago
  spent 20.0¢
@Rivers You’ve be one a Sherpa for me in this crypto mountain (thanks). Do you mind if I ask you to direct me where to go accelerate my learning re: forecasting mining revenue btc vs bch? What happens when bch displaces btc in market? What are miners to do? It seems that hash power on bch wants to be driven by profitability on btc. They seem to want to be in parity. I'm trying To figure out what drives the apparent equilibrium force. And then forecast future based on model I derive.
Can you also guide me to what forum this question is best suited for?
0.0¢
   9mo ago
88.0¢
  spent 20.0¢
Let's talk exit strat. In the scenario of massive corrections. People will be running for the fiat xchanges. Could a bank run bankrupt these fiat exchanges?
No one is actually safe then right?
0.0¢
   9mo ago
88.0¢
  spent 20.0¢
how high would you set the probability of core increasing blocksize in the next 4 weeks?
0.0¢
   9mo ago
  spent 20.0¢
EDIT: Hey @RiversAndMountains, I am little confused. My new stop from your update #5 got activated. When should I enter again? Even though I am in USD profit, I am looking to end up with BCH.
I honestly like Charlie Lee. He seems to be a nice guy trying to do the right thing. And that's his biggest weakness.
He got copy/pasting Bitcoin Core to a ridiculous point and it is very troubling. His decision to sell all of his LTC is simply stupid. Did he not ask anyone about this at all? What you see is usually what you get. No skin in LTC no future for LTC.
I am so glad to have sold all my LTC yesterday and have entered this trade. As always, great job @RiversAndMountains.
0.0¢
   9mo ago
  spent 20.0¢
No one could have predicted that Bitcoin would take a huge shit on the market, dragging everything else down with it. On the plus side, Bitcoin is finally experiencing a much needed correction. 300k unconfirmed transactions and rising. This could get very, very bad - Bitcoin could easily correct a couple thousand more points downward as fees continue to rise and people finally realize you can't actually *do* much with your Bitcoin. Very sad state of affairs.
0.0¢
   9mo ago
  spent 20.0¢
any update on that bitmex wallet?
0.0¢
   9mo ago