Re:Bitcoin cash mining profits jump
by jstanley on Saturday August 19, 2017 @04:27PM
(#15055399)
Significantly so. The price of BTC alone is still more than BTC before the fork.
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How do cryptocurrency adherents explain this? I mean, that value has to come from somewhere.
As I recall, when the fork just happened, the explanation was that the price of BCH was largely meaningless, because you couldn't actually withdraw them as cash, either directly or via BTC or other coins. You could only trade within confines of exchanges where they materialized. Did that change since then?
> How do cryptocurrency adherents explain this?
Speculators be speculatin'.
> I mean, that value has to come from somewhere.
Demand is constrained: only miners and those who bought BCC since Aug 1 fork have any BCC to sell. Most of us struggle with "hmm how do I recover/import my BTC wallet keys into BCC? Holy crap it's worth how much?!" And finally much of the BCC is semi-orphaned by the fact that they hold pre-fork currency but have no idea that BTC exists.