If You Invested In Bcash In It’s First Year You Are Scammed Or You Are A Scammer - If You Invest In Bcash In The 2nd Year You Are A Moron

2년 전

Bcash just had it’s first birthday and might be already half way it’s lifetime, or time of relevance at least. From the beginning people warned investors that Bcash is a useless scam coin and only driven on lies and manipulation, but some kept promoting it like it was their religion. It is hard to say whether they are scammers or just stupid, but after one year so many scandals came out and so many black swans are on the horizon that you just have to be a moron to still keep your money in it.

firstimmage.png

Before the birth of Bcash it was suspected to be a tool to attack Bitcoin

The big block community caused a lot of damage to Bitcoin before Bcash came to existence. Segwit and thus Lightning are delayed more than a year thus the great scaling solutions and additional applications we are seeing rolled out now (that is literary eating the altcoin market) could be 3 times further developed and adopted than we are today. Also, a lot of FUD and confusion scared away new users and investors.

After Segwit was finally implemented (forced by the users) I hoped the big blockers would not cause to much more damage.

bcash bullshit.png

When the Bcash fork was announced it was brought to the market as a ‘friendly fork’. Replay protection was implemented and the creators said clearly that it would become an altcoin because there was by far no consensus for this fork. However, some already suspected that Bcash would be used to attack Bitcoin in times of tension between Bitcoin and Segwit2X. Here is an old article that I have written before the fork:

bcc fork.png
https://steemit.com/bitcoin/@michiel/six-reasons-why-i-will-keep-my-bcc-after-the-fork-on-the-first-of-august-even-when-i-am-heavily-against-it

Bcash was born with a flaw and without consensus

Because there was totally no consensus for the Bcash fork (so tell me how on earth can it be the real bitcoin!?!) the low quality Bcash devs have build the EDA (Emergency Difficulty Adjustment) to prevent it from dying on arrival. The EDA was greatly flawed and caused periods that Bcash was extremely profitable to mine followed by periods that it was extremely unprofitable. This made miners shift between the two chains and caused hyper inflation in Bcash followed by extremely long block times and so on. It even de-stabilised Bitcoin.

The flawed EDA was used by Bcashers to leverage the flippening attack in combination with a BTC dump and BCH pump, the S2X cancelation event, a tsunami of paid trolls on social media shouting that BCH is the real Bitcoin and heavy spam attacks. In this post you can see more details:

bcash attack.png
https://steemit.com/bitcoincash/@michiel/be-careful-with-bitcoin-cash-all-the-value-is-created-by-manipulation-and-it-is-not-bitcoin

The Segwit2X fork was cancelled by 6 important persons (really decentralised LOL) and Bcashers were able to use the anger of the S2X proponents to leverage their attack on Bitcoin. Finally a few miners decided to trigger the fork despite the cancelation and the S2X chain froze immediately because of a bug and was dead on arrival. Imagine that S2X was not cancelled and the 95% of the miners that backed it shifted over! Bitcoin might have failed as the most important project for freedom in human history!

After this attack multiple less powerful attacks took place and Bitcoin .com started to confuse and mislead people by saying that Bcash is the real Bitcoin. I kept warning for Bcash:

warning for bcash.png
https://steemit.com/bitcoincash/@michiel/bch-is-slowly-dying-bch-is-exactly-0-1-btc-now-and-tanking-when-you-still-own-bcash-dump-it-now-before-the-whales-start-to-sell

bcash lies.png

Bcash scam.png

Bcash manipulation.png

Bcash manipulation3.png

bcash pump and dump 1.png

bcash pump and dump2.png

Like I did for other scams like Bitconnect (Hilarious enough both started of with the BCC ticker):

Bitconnect scam.png

Calling out bitconnect people.png

AAAAnd I kept give more warnings:

Bcash is NOT Satoshi’s vision:

satoshi vision.png
https://steemit.com/bitcoin/@michiel/bitcoin-cash-bcash-is-going-against-satoshi-s-vision-proof-is-here-the-promotion-of-bcash-is-a-scam

It is solely based on manipulation:

soleley manipulation.png
https://steemit.com/bitcoincash/@michiel/beware-of-bitcoin-cash-bcash-manipulation-is-the-only-fuel-bitcoincom-now-officially-a-fraud

It would NOT survive without the help of Roger and Jihan:

roger and jihan.png
https://steemit.com/bitcoincash/@michiel/the-rise-of-bitcoin-cash-bcash-showing-strength-or-just-a-pathetic-attempt-to-stay-alive

Bcash is evil:

bcash evil.png
https://steemit.com/bitcoincash/@michiel/why-i-hate-bcash-competition-is-a-good-thing-right

Bcash is NOT Bitcoin:

image not bitcoin.png
https://steemit.com/bitcoincash/@michiel/10-reasons-that-bcash-is-not-bitcoin-if-bitcoin-cash-bch-is-the-real-bitcoin-why

You can’t trust the Bcash devs and the tech is risky and not interesting:

bcash devs.png
https://steemit.com/bitcoin/@michiel/bitcoin-btc-vs-bcash-bch-a-closer-look-at-the-transactions-decide-yourself

Bcash is NOT secure:

not secure.png
https://steemit.com/bitcoin/@michiel/bcash-is-extremely-vulnerable-for-an-51-attack-attacker-will-make-huge-gains

The Blockstream conspiracy is BUllshit:

blockstream.png
https://steemit.com/bitcoin/@michiel/they-say-that-bitcoin-core-devs-are-compromised-are-bcash-proponents-real-anarchists-a-deeper-look

Bcash is heavily overvalued:

overvalued.png
https://steemit.com/bitcoin/@michiel/the-valuation-of-btc-ltc-and-bch-based-on-transactions-remarkable-outcome

AND why big blocks and hardforks are a bad idea:

big blocks hardforks.png
https://steemit.com/bitcoin/@michiel/the-valuation-of-btc-ltc-and-bch-based-on-transactions-remarkable-outcome

The 2nd year of Bcash

In the 2nd year the Bcash price is sliding well under .1 BTC after the 4th pump and dump scene, as low as it started off when the fork was created.

bcash pump and dump chart.png
Compare this chart to charts of other cryptocurrencies: Do you think it looks natural? PUMP & DUMP

This in itself is not so worrisome, but the black swan I warned for months ago is coming closer:

bcash black swan.png
https://steemit.com/bitcoincash/@michiel/and-another-huge-black-swan-for-bitcoin-cash-i-would-say-strong-sell

Bitmain had to open it’s books for the IPO and the results are very shocking! It turns out that they been pumping the Bcash price all the time while selling their Bitcoin stack. Bitmain now own a staggering one million+ BCH, this is even more than the stack of Satoshi himself!. Firstly, it is proving what we were saying all the time:

BCASH IS MANIPULATED BY A FEW WHALES WHO WANT TO DESTROY BITCOIN BECAUSE THEY CAN’T CONTROL IT AND BCASH THEY CAN CONTROL. WHEN THE FLIPPENING WAS SUCCESFULL ROGER, JIHAN AND CRAIG WOULD BECOME THE NEW ROCKEFELLARS AND ROTSCHILDS!

Secondly, decentralisation was already questioned by the crypto-community, but when one entity owns a huge share of the mining hardware, mining power and currency itself too, we can not call it decentralised at all.

Furthermore, The Bcash price didn’t manage to climb in BTC terms while Bitmain heavily supported the price. Since Bitmain is almost out of BTC and IPO investors probably don’t allow them to spend more on this dying shitcoin the price will probably crash without their support.

Also, everyone is scared like hell that these coins will be dumped on the market when Bitmain doesn’t see the bright future anymore. When coins in one of the known wallets of Bitmain start to move a huge selloff will take place because this can bring the price extremely low in the low liquidity Bcash market. Bitmain will never manage to sell all the coins, thus this threat will be as a dark cloud above the Bcash market forever.

The Bitmain story is not the only issue for Bcash. Still nobody is using it and they will miss out on all the innovation enabled by Segwit. Atomic swaps are being done already between Bitcoin Lightning and Litecoin Lightning. An onchain Bcash atomic swap with Bitcoin Lightning was possible but far from straightforward. This means that Bcash will probably be excluded on decentralised exchanges build on Lightning.

Also the re-introduced risky op-codes or the reckless work of the Bcash devs can instantly crash the network. Recently a critical bug is anonymously reported by a Core dev. When this was not fixed it would probably make every Bcash holder lose all his money. Since Bcash devs like to create new hardforks to further centralise the network it is very possible that the next bug will end badly………..

So whats the outlook for Bcash:

-Big chance of 51% attacks and double spends (7% of BTC miners can become majority on Bcash)
-De-list dead spiral very likely (exchanges are at heavy risk to lose money in Bcash double spend attack)
-Huge crash Bitmain dump possible
-Long bear market because Bitmain doesn’t support Bcash anymore
-High risk for bugs (already 3 in one year) because of bad development and risky op-codes
-Heavy competition from faster, safer and cheaper Lightning Network (Dogecoin DOGE and Bitcoin Core BTCC are faster and cheaper too)
-Miner exodus when the halving of Bcash takes place earlier because of the hyperinflation in the past caused by the flawed EDA. This will make Bcash slow, unreliable and extra easy to attack for a while
-Exclusion from Lightning based decentralised exchanges and Lapps

But most importantly: It is simply immoral to take part in a pump and dump scene!

But Bcashers, don’t worry! As with every scam there will probably be a lunatic around to pump the shit out of your shitcoin, even after it crashed from hundreds of dollars per coin to under a dollar!

bitconnect chart.png

LOL

Disclaimer
This is no financial advice, just my view on the market.

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Had a good laugh with this one 😄
But now they changed it. It was like this for a while.
sas.png

Cheers!

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lmao

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A powerful upvote you got. Check out what I wrote about when lambo

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pre-book your lambo , when market booms there will be a long waiting period

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Your balance is below $0.3. Your account is running low and should be replenished. You have roughly 10 more @dustsweeper votes. Check out the Dustsweeper FAQ here: https://steemit.com/dustsweeper/@dustsweeper/dustsweeper-faq

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@michiel TBH i know nothing about Bcash and have nothing invested in it , I just posted the meme to gain your upvote....

Bitcoin is true king only lack of thing is anonymity. We've seen how altcoins dumped hard during bear market.

Posted using Partiko Android

Indeed Bitconnect better (͠≖ ͜ʖ͠≖)

ulol.jpg

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miss him

Probably Looking Like Right

Wow. really wow!!

I'm not sure if I'm more astonished by the fact that Somebody actually ...

  1. wrote this
  2. believes this
  3. expects others to believe this
  4. feels this threatened by Bitcoin Cash

The Bitcoin core tribe always make me laugh with content like this when they want to attack Bitcoin Cash. The most hilarious part of this hate campaign is they insist on calling it Bcash which demonstrates their flawed logic. If you want to attack Bitcoin Cash, a semi-intelligent person would make sure that most people know which currency you're referring to. You guys can insist on calling it Bcash if you want because it not only highlights the stubborn, childish side of your argument, it also proves how threatened you are by it.

I'm not going to argue the points or highlight the misinformation and blatant lies in this post. Instead, I am going to ask that the INTELLIGENT readers do it themselves by researching each and every point made in this post because the truth is VERY EASY to find.

What I will say is, I don't hold Bitcoin Core OR Bitcoin Cash so I am totally unbiased. In my humble opinion, Bitcoin Cash has the strongest argument and the fork happened because of Bitcoin Core.

Also, the Bitcoin Core tribe hate on every altcoin and think that they are the ONLY cryptocurrency that matters. DYOR.

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I will explain:

1: Bitcoin is the name of the longest chain, that means most hash power behind or more than 50% consensus. Bcash didn't reach this and is called Bcash to avoid confusion among newbies (BTW you call it Bitcoin Core, this is a software implementation and not a currency until recently. Since a few months there is a currency Bitcoin Core (BTCC), a fork from Bclashic, but that is not what you mean).
2: Yes I felt threatened by Bcash, that is true. I am all in in Bitcoin because I love the technology and the idea that nobody controls my money and I fully believe in it. If you have read my article you can see that Bitcoin (= my life savings) was almost destroyed by the Segwit2X attempt and later with the 'Bcash flippening attempt' it was very exiting too. Also, Segwit is blocked for more than a year by them, Bitcoin would be much further developed otherwise and thus BTC would be much more valuable as we speak.
3: You don't hold any Bitcoin so maybe you don't understand it very well (otherwise you would be deep in the habit hole like me and have bought some). Please let me know what my lies are? Believe me, I been full time on it for years and I don't make anything up, this are my observations.
4: Bitcoin is the only cryptocurrency that really matters, there is NO single altcoin that is really decentralised. They get all pumped by a marketing team and they delude the mindset where Bitcoin was created with. I don't hate alt coins, but they created a lot of mall investment, confusion and distraction in the market and I think in the long term they don't add anything.

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My friend, I've been an outside observer of Bitcoin since the very early days and I fully understand the technology and the FORK which I believed killed Bitcoin. I call it Bitcoin Core because I don't see it as the authentic/original Bitcoin. Neither do I feel Bitcoin Cash is the original either, so don't worry.
However, as much as I don't really like Roger Vey, you can't deny his arguments nor his motives for creating Bitcoin Cash. It was the Bitcoin Core team who wanted to change Bitcoin and went AGAINST the consensus. Forcing Roger Vey. I hate all of the arguments in the Bitcoin space. There is some very mean-spirited and spiteful people who demonstrate levels of arrogance like nowhere else on the internet.

I am sorry to hear you are so heavily invested and for your sake I really do hope you reach your target. I think you probably will if it's realistic but might I recommend a bit of diversification to protect yourself.

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Look I understand that segwit did change somewhat how Bitcoin worked but to many it was a necessary change. There was consensus for segwit majorly the miners just did not want it. Maybe you can call it a flaw in POW but there was consensus for segwit. Not 100% mind you but more than 70%. Roger Ver arguments are flawed. Give me his and I can disprove them all. Roger Ver was someone I respected but he has a much flawed idea on how Bitcoins works...
And please don't say Blockstream controls bitcoin-that got to be one of the most dumbest theories I ever saw.
And most of what @michiel said is true, there are part he exaggerated majorly.
Plus if we have the follow the whitepaper and Nakamoto...
He did give the idea of the LN and he did say the thing that keeps Bitcoin, Bitcoin is the hashpower. Bitcoin cash or BCH can try to defeat Bitcoin to become the real Bitcoin but until then BTC is Bitcoin and BCH is an altcoin/not Bitcoin.
And I share this view while being diversified as well.

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Consensus is not only reached by the miners, but by the entire community. Users are able to pull miners in a certain direction by creating incentive for miners to mine the most valuable chain which is decided by the users by supply and demand. This multi layer decentralisation is not a flaw but a feature. Bitcoin would have failed already otherwise.

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Bitcoin is exactly the same as pre-Segwit Bitcoin, you can still use the same software and make transactions without Segwit if you wish. Segwit was a softfork thus 100% voluntary and if you don't want to use it Bitcoin will still function EXACTLY the same for you. Try to run Bcash with older software LOL

Yes Yes , You were right all along!!!

Good...Look like right...

Bitmain can't afford to hodl bcash forever...

yoo !! BTC king!

I never invested in this shit.

OMG! That Titanic image is hilarious!!

Great article 👌👌👌
Snapshot of my last infographic:

Crypto Market Share_20180812.jpg

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A matter of concern..

  ·  2년 전

You got a 34.58% upvote from @upme thanks to @michiel! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).

  ·  2년 전

经验之谈啊,不错

You got a 12.39% upvote from @postpromoter courtesy of @michiel!

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You got a 52.17% upvote from @emperorofnaps courtesy of @michiel!

Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!

Man, I wish there was a way to short Bcash, but then again the whales manipulating the price would probably just get more money off of that.

You have recieved a free upvote from minnowpond, Send 0.1 -> 10 SBD with your post url as the memo to recieve an upvote from up to 100 accounts!

I sold abour 25 percent of my forked coins and kept the rest. I won't buy more but I'll hold unless something big happens.

Ahah pretty funny post man! Can't wait to see more from you!

Hi, You have made a good contribution to steemit

@michiel

Thank you.

I upvoted and followed you; kindly follow me and we can help each other become successful.

My Recent Post

yo guys. i just started on this site. pretty lit this site. i was wonder if u guys can help me out with a follow and check my blogs. have a nice day to everyone!

I never though of such big conspiracy before. Big whales exist anywhere in the world include crypto world.

Bcash is going through some real trouble now. As you all know Bitmain, the biggest manufacturer of mining equipement and one of the biggest miners themselves, is launching an IPO in the upcoming quarter. Looked at the published investors deck and noticed some interesting details.
Bitmain currently holds over 1 million BCH (Bitcoin Cash). As we know BCH has suffered disastrous losses since beginning of the year and the asset is highly illiquid. There is no sizeable OTC-market for BCH and Bitmain cannot sell it on the exchanges because this would crash the price extremely and possible lead to the death of BCH. Bitmain made a very big mistake of exchanging most of their BTC to BCH and now they are stuck with it. They must be praying for a bull market right now. This is their only chance.
Additionally, they have problems on the hardware Front, we haven't seen a new Antminer in a while and the B3 was a desaster. So, to summarize:

  • Bitmain is stuck with a huge position of a highly illiquid asset that is rapidly losing value
  • Hardware developement isn't going good as in the past
  • suffering from huge opportunity cost from the mass exchange of BTC to BCH

I don't like BCH at all, after doing my research and seeing some of the lies that have been said about it. I still find it sad that the community is split but I suppose that's inevitable.

Secondly, decentralisation was already questioned by the crypto-community, but when one entity owns a huge share of the mining hardware, mining power and currency itself too, we can not call it decentralised at all.

It's a perfect example of irony about crypto's main motive to destroy centralization and traditional banking system. Well, crypto is built for that main purpose but as long as human greed intervenes, problems always arises.