Kraken to support bitcoin cash in upcoming split (BCH)

Cuddles

Cuddles

In case you want to take advantage of the split on Aug 1st and want to take advantage of the free money, I'd recommend moving your money here (or a private wallet). I personally want to have it in an exchange so I can sell right at the split (though I doubt I'll beat the frenzy).

We have posted an important announcement on our blog about the “Bitcoin Cash” (BCH) hard fork that will happen on August 1. Everyone should read the complete post, but here are a few highlights from the post:

  • Kraken plans to support BCH on our platform for funding and trading in the pairs BCH/XBT, BCH/USD, BCH/EUR
  • Clients holding Bitcoin (XBT) balances at the time of the forkwill be credited with an equal amount of Bitcoin Cash (BCH) - e.g. 1 XBT will result in 1 XBT + 1 BCH
  • Clients borrowing Bitcoin (XBT) for margin positions at the time of the fork will be debited an equal amount of Bitcoin Cash (BCH) - e.g. if you borrow 1 XBT you must pay back 1 XBT + 1 BCH
  • Margin traders should read the blog post carefully to understand the added risk and how margin trading will work across the fork
  • The BCH fork is planned for 12:20 pm UTC on August 1
  • Bitcoin (XBT) funding will be halted at 11 am UTC and resumed sometime after the fork when it is safe to do so
  • Trading will continue across the fork, but we may need to halt trading briefly around the time of the fork so we can adjust balances and add pairs
http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/
 
Here4money said:
In case you want to take advantage of the split on Aug 1st and want to take advantage of the free money, I'd recommend moving your money here (or a private wallet). I personally want to have it in an exchange so I can sell right at the split (though I doubt I'll beat the frenzy).

We have posted an important announcement on our blog about the “Bitcoin Cash” (BCH) hard fork that will happen on August 1. Everyone should read the complete post, but here are a few highlights from the post:

  • Kraken plans to support BCH on our platform for funding and trading in the pairs BCH/XBT, BCH/USD, BCH/EUR
  • Clients holding Bitcoin (XBT) balances at the time of the forkwill be credited with an equal amount of Bitcoin Cash (BCH) - e.g. 1 XBT will result in 1 XBT + 1 BCH
  • Clients borrowing Bitcoin (XBT) for margin positions at the time of the fork will be debited an equal amount of Bitcoin Cash (BCH) - e.g. if you borrow 1 XBT you must pay back 1 XBT + 1 BCH
  • Margin traders should read the blog post carefully to understand the added risk and how margin trading will work across the fork
  • The BCH fork is planned for 12:20 pm UTC on August 1
  • Bitcoin (XBT) funding will be halted at 11 am UTC and resumed sometime after the fork when it is safe to do so
  • Trading will continue across the fork, but we may need to halt trading briefly around the time of the fork so we can adjust balances and add pairs
http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/
More...

Reading this: http://www.zerohedge.com/news/2017-07-28/bitcoin-civil-war-over

It might be better to keep BCC (or Kraken's BCH) for at least 3 months.
 
well shucks...
upload_2017-8-1_21-56-13.png
 
All the money seems to be going into Bitcoin Cash at the moment. Up 46% since the split and has now surpassed Ripple in terms of market capitalization.

It has fluctuated wildly ranging from 214 to 424.
 
lovethetrade said:
All the money seems to be going into Bitcoin Cash at the moment. Up 46% since the split and has now surpassed Ripple in terms of market capitalization.

It has fluctuated wildly ranging from 214 to 424.
More...

It takes time before most of the new BCH is tradable on the Exchanges. Probably days. The current prices are only for the coins which were on the few exchanges which did offer immediately support for BCH (for instance Kraken). Most other BTC holders are struggling with their wallets to convert (even Trezor reported glitches). And after they manage to get their BCH it will take several days to move them to an exchange, as there is a 20-confirmation obligation (on a BCH network which has trouble to confirm anyway: hours? instead of 10 minutes per confirmation).

So the current real market is still very thin, and large BCH supporters can easily (there are enough dollars on the exchanges) press up the price to a level, for which they can say: "see it works, there is a market, there is a future for BCH".
I wonder what will happen in a week, when exchanges will be swimming in BCH.

Anyway: I already sold some of my BCH for $380. But most I will hold for 3-months to see what the 2X hardfork for Segwit2X will bring. My guess is that the 2X-miners will use the success of BCH as bargaining chip (so they will push up BCH even more, and point some more mining equipment to it).

Never a dull day in Bitcoin-land :sneaky:
 
The market cant get enough of Bitcoin Cash at the moment. They love the cash.

At this rate it will be worth more than Bitcoin very soon. It has limited supply at 21 million just like Bitcoin and apparently has faster processing.

ETH and BTC wont go anywhere while BCH is being gobbled up like this.
 
lovethetrade said:
It has limited supply at 21 million just like Bitcoin and apparently has faster processing..
More...

Pfff.. we already have something like Litecoin, with much better specs than BCH.

What we see now, is that the battle-field is moved to the exchanges. Currently the big-blockers camp has the possibility to push up the price (see my previous post). The Segwit camp will join the battle in a few days. Next 3-months will be popcorn time.
 
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