Airdrop #6: Receive free BCC
Don't sell your BCC too quickly???
If you haven't been living on the moon for the last 2 days you will know that if you hold BTC you will receive free BCC (Bitcoin Cash) today. Basically it is an Airdrop where you receive the new Altcoin BCC. BCC has a bigger Blocksize and can have 8x more Transaction in 1 Block than BTC.
I made a calculation based on the following assumptions: BTC with Segwit can process 1.7x more transactions than before, 20% of the Hashingpower of BTC will go to BCC
TPS Calculation
So everybody is expecting that BCC will drop to 1 USD or almost 0 and die. After doing some calculation I am not so sure that this will happen. I am sure that at least 20% of the Hashrate will go to BCC. You will say well it takes 2016 Blocks until the Difficulty adjusts so nobody will mine BCC. I read today that the difficulty will adjust within 12 Hours in case of a sudden drop of such magnitude in Hashingpower. (Please correct me if I am wrong here)
Anyways if my calculation is correct, BCC with a 20% Hashrate will have a huge boost in TPS and even at only 20% Hashrate the TPS (Transactions per Second) will almost be as fast as BTC with Segwit. If this is true I think that once 30% decide to mine BCC the TPS of BCC will be faster than BTC. The only question is than, how much are the transaction costs.
I agree with most of the people that BTC will very likely go down a bit, BCC will get killed and than BTC will raise even higher, but after selling my ETC at 3 USD and than ETC going to 20USD I am not selling a single BCC now. Maybe some of you want to follow my example and not sell off 100% of it.
What's your plan for BTC and BCC???
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Great info, there will be a massive dump first days and better to wait. Reminder that ETC went from less than 1$ to more than 20$.
Here I wrote a detailed post on how to get your BCC: https://steemit.com/bitcoin/@bcn/preparing-for-august-1-hard-fork-how-to-claim-your-free-bitcoin-cash
I agree with @bcn, BCC is a definite hold. Have patience with your free BCC balance holding it for a minimum of six months and i think it will pay off.
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upvoted !
I like the thinking applied here using the experience in ETH - ETC, and applying what you learned in the now BTC - BCC. Sad to say my wallet does not support BCC though. Almost everyone is this space is doing a countdown 4 hours, 40 minutes to go! Thanks for sharing your thoughts. Resteeming this.
thank you. I hope someone smarter than me can check my calculation and tell me if I am correc.t if only 30% hash power is needed than we might see BCC come out strong
It is up over 150% congrats!
It's free, so there is nothing to loose with holding, so I'll HODL ;-)
thats the spirit
I have sold all my bitcoins, so nothing to worry now.
Selling so fast could be a dumb thing to do. No one knows what is gonna happen. I will keep to your advice and hold it if eventually it appears in my account. Thank you for this great post.
well you could sell part of your holdings. I expect btc itself go down to 2400usd again.
" I read today that the difficulty will adjust within 12 Hours in case of a sudden drop of such magnitude in Hashingpower. (Please correct me if I am wrong here) "
You are right mate..
Thanks for great post
I will keep the BTC as I do not trust the BCC
Please if you have sometime check
https://steemit.com/bitcoin/@lordoftruth/few-hours-before-bitcoin-splitting
Let's see how this pans out
@knozaki2015 I love to see people get confused about what to do next or what to do with the BCC. I will suggest that no one should be in a hurry. Just sit back, relax, and watch out for market trends.
There are maximum people selling their BCC due to panic . But professional traders and investors will hold on to it.
I expect the same. I won't sell any of the BCC. I don't think it will die. so we will have a BCC like ETC
maybe they would trade the margins or options as people dump
Ohh. That's really interesting! Upvoted!