I’m happy that Jihan and Haipo will lose control of BCH. It’s their fault for mining BTC. It pained me for so many days to see BCH starving for hash while miners chose BTC. Some even laughed at those mining BCH.
Those two alone could have taken BTC down and shown the world how hashpower works. But no now CSW needs to show them.
I felt Blockstream spit on our face. How could anyone turn around and mine their coin?
Because profit is profit. You cannot blame them.
So for those short term gains (which were on average puny 1-2%), they will end up losing so much more.
2/2. BCH becomes less likely to be Bitcoin again. Ultimately, and now they see firsthand, they will lose control of BCH altogether
1/2 Yes short term profit. However, BCH network becomes less secure while chasing those profits (51% attacks happen). BCH becomes chain with less work overall.
Moron, if they only mine BCH and sell it for profit it would crash the price even further. Do you actually think mining with a high hashrate is beneficial? Only when 51% threat exists.
For everyone reading this, there is HUGE false point. (I suspect Corean). Miners selling does NOT crash the price! (To long to explain but they are false.)
Yes, that is simply a distribution/inflation mechanism. If miners sell steadily it will help to stabilize the price.
Only If miners suddenly dumb like a million coins it would crash
Lots of miners mining and trading would actually lead to INCREASED liquidity which would STABILIZE BCH price. We got angry Corean in the house. CSW taking Blockstream down next!!
No it would not. We are nowhere near real liquiditiy yet, most people still hoard and wait for price increase (for every crypto). Also who are you calling Corean, moron?
If you don’t understand, I don’t have time to explain it to you sorry.
Yeah, let's quote Satoshi and pretend we know what we are talking about. ;)
🤖 1 BCH = 642.16$ 📈 1.99%
Tips = fuel️
More miners mining BCH and selling means more liquidity which is better for BCH. Obviously miners don’t all always sell (I don’t). Happy to get angry replies!
Bitmain specifically holds and burns some BCH to keep the price more stable, if they only mined BCH they would have to sell more of it for profit. Why don't you understand this?
The amount antpool burn would not affect price, its really low like $20/day
What conditions are necessary in your mind for a "51% threat to exist"?
Also you caannot assume that large for-profit companies lose large amounts of money just so you can see a higher hashrate number next to BCH. They have to pay bills too.
If a miner is gaining hashpower at a rapid rate maybe you can start to get worried and redirect hashpower towards BCH. However, current BCH hashpower isn't small by any means.
