With all the hoopla around the infamous for this week on August 1st, I must say it was a high energy let down. There was so much talk about how its gonna be the new Bitcoin taking over a lot of the hashpower and the adoption of the major Chinese miner making all the difference.
Everyone and their mother was thinking 12 steps ahead and willing to make the most from this fork. I personally made almost nothing from this fork but this fork was the most benevolent to the simplistic minds. Since I did not want to be the one losing my USD i even adopted Kraken so save myself from the mighty USDT. But all my plans were in vain as I moved my bitcoin from Bittrex; which happened to be most rewarding exchange during the fork.
The play was simple:
- Keep your bitcoins on an exchange which would reward you with equal amounts of Bitcoin Cash.
- Hold onto to BCC for a day and wait for the (co-ordinated) Pump.
- Sell it for as high as 1300 (Bittrex- as mentioned before)
- Be happy and cocaine and bitches (I guess)
There are various conspiracy theories about collusion between Roger Ver and Jihan Wu to execute an elaborated pump and dump scheme.
In the long run, I think it only goes to show Bitcoin fanatics and the religion of bitcoin needs a new reaffirmation. If this keeps going, we shall see more forks in the chain and lo and behold Litecoin will come to the peoples rescue with its low fees and awesome block times. But only time will tell.