What the hell is going on with Bitcoin Cash? Programmer explains.

what is going on guys welcome back to my channel and today we’re going to talk about a question that is on everybody’s mind namely what is happening to Bitcoin cash Bitcoin cash is up 80% the past day it is at four thousand three hundred twenty nine dollars a completely insane parabolic exponential move some people are also wondering why bitcoin is crashing why we have a 10% correction and between currencies like is at sixteen thousand four hundred seventy two dollars and let’s start with Bitcoin and then we’ll talk about between cash and the reasons why the price is moving why the prices skyrocketing and so first of all we have to understand that a 10% correction is not a massive drop it is completely normal and the reason why I think so many people are worried is because so many people are new many people come from normal stock markets and they invest in cryptocurrencies and they see a 10% drop and they haven’t seen the crash in 2013 they haven’t seen the crash in 2011 and they don’t know that Bitcoin can drop with 50% with 70% even with 80% so I mean if we see those kinds kinds of red numbers I would call it a crash but 10% is completely normal it is completely normal and in fact it is expected because we’ve seen the huge rise to $20,000 without any major Corrections and of course we are a Jew to a correction so this is completely normal and if you are new to Bitcoin you need two cryptocurrencies please keep in mind that it is extremely risky and extremely volatile situation you’re playing with and this is something that gets me gets me worried when people are freaking out when we’re losing 10% but what will happen when we lose 30% and I’m afraid that people take loans and they really think that this will only go up and up and up please guys be careful be careful and keep in mind that this is extremely volatile market it can drop by I’m in double digits it can drop by 40% by 50% this is something we need to keep in mind in the short term nobody knows in the short term normal knows and that is also why education is so important you have to realize the long-term potential you have to realize the impact that this has on society on the economy on the world and this is exactly my mission with this channel to educate about that because if you know the long term vision you understand the impacts you’re not affected by this short term drops this short term crashes that I’m certain we will see I mean at some point we will see a 50% crash once again and Bitcoin we will see maybe an 80% crash in Bitcoin so this is an education we need to spread to everyone who is new to cryptocurrencies it is not really a toy if you don’t have the you know and nerves of steel and if you’re not cool enough so guys please help keep that in mind and let’s move to our main topic of today namely between cash it is up 80% it is at four thousand three hundred twenty nine dollars and it is several news several aspects to this price number one is bit pay so bit pay came out and announced that they will have a Bitcoin cash option early next year so for you who don’t know bit way is the service that you you can use as a merchant in order to accept cryptocurrency payments so currently you can accept payments in Bitcoin but in 2018 we will add between cash and this is very interesting and this is very important for Bitcoin cash because bit pay is extremely popular if you want to take payments in the cryptocurrencies as a company and you just want cash you do not want to deal with cryptocurrency you use this way because bit pay will allow your customers to pay in cryptocurrencies but you will receive just normal Fiat you will not receive cryptocurrencies and of course many businesses do not want to have cryptocurrencies on their balance sheets they don’t care they only want to sell the product and they only want to add an extra payment option so it’s they can even get more customers so they they can get even more customers they don’t care about cryptocurrencies if you own the shop you sell clothes or you own a restaurants you sell food and you’re not into this whole blockchain sphere you just want to add Bitcoin as a payment method or between cash as a payment method to get even more customers so in that sense bitpay is a very important player when it comes to businesses and merchants using cryptocurrencies so by them adding between cash they suddenly made between cash a lot more usable suddenly you can use between cash to pay for different things that you couldn’t previously because there was no payment processor that could handle Bitcoin cash so in my view this is the reason number one why between cash is seeing this parabolic move reason number two is coinbase which is even bigger it is even bigger news because now when you open your coin based app you will have an option to buy and sell Bitcoin cash and because coin base is so huge I mean they have thousands and thousands and thousands of new users each and every single day many of these users are completely new to cryptocurrencies they have never touched cryptocurrencies before and they just download coin based app and they start using cryptocurrencies so coinbase they really are a gateway to crypto for many new people and they’re a huge player I mean this is just insane how much influence they have and so by them including between cash they are giving so much exposure to between cash and because bitcoin and between cash have so similar names many people will not understand the difference really they will see that bitcoin is worth $16,000 between cash is so much cheaper so chances are more more people will discover between cash and buy bitcoin cash in order to have that in their portfolio because something else we need to understand is that a lot of new people who are joining I mean they don’t care about the scaling debate they don’t don’t care about Bitcoin core with versus Bitcoin ABC they don’t care about beacon cash versus between is none of their business they just want to have a cryptocurrency portfolio and many of these people they will not discover G Dax or Polonia or a crack and that’s too complicated that is too complicated they will only use coinbase and many people currently only use coinbase because they want to have some kind of investment in cryptocurrencies but they don’t care about the rest and so now they will have a new option to buy between cash and so in that sense I think between cash will get a much much broader adoption now that coin base has added between cash and it will be confusing in that sense that people will not really know the difference between Bitcoin and between cash I know that many of you are passionate about this debate and I’m passionate myself however we have to realize that normal people do not care and they will not even learn about this most probably and so in that way now between cash we’ll have a lot more exposure so this is the two major reasons why I think we see this huge increase in price bitpay and coinbase moreover we heard the accusations about insider trading that someone within coinbase leaked the information that coin base will add between cash on their platform because people are suspecting that the rise in price just before coin bases announcement is due to insult raising that someone was just buying up a lot of Bitcoin cash in order to use the knowledge in order to use the information they have that coin base will launch beacon cash on their platform and to buy a lot of between cash prior to that public announcement and so this is why we see this insider trading you know accusations and coinbase themselves they said that they are investigating and they’re looking into this so it will be interesting to see I mean what will well if they will find anything or not and finally I mean the final news we have is that eg dykes crashed when it comes to Bitcoin cash I mean they suspended all trading and the price was frozen at 9500 so it is of course a completely a completely ridiculous price it was so different from all other exchanges and this glitch was due to I mean this price was due to a glitch and whenever this video is up on YouTube this issue might already been fixed and the trade is resumed by but as of recording of this video the trade is stopped the price is at 9500 per one Bitcoin cash and we will still have to see how they resolve this and of course it is impossible to talk about Bitcoin versus between cash without talking about scaling and talking about the wise paper Satoshi white paper because the whole reason why between cash for it is because they wanted to stay as close as possible to the white paper they didn’t want lightning Network they didn’t want sanguine so they just said we will increase the block size but what I mean the way I see the world the way I look at it is I like compare it to Internet because if we just used Internet as it was intended by the white paper by the creators we would only have links and text on the Internet no one would innovate if we would be afraid to you know deviate a tiny bit from the white paper so in that sense I am very very curious how light can and segments will play out and I have my faith in lave two solutions and more innovations on top of the Bitcoin protocol however only evolution and time will tell which will win it might very well be the case that bigger plug blocks and just increasing the block size is the answer and the Lightning Network will not work sacred they will not play out because corporations will not implement it and so on and so forth we will have to see but I mean personally when I look at how insurance develops developed when I look at how many other technology is developed if we just kept to the basic white paper we would still have very boring technology and this is like a Bible many people will interpret the white paper in their own way Satoshi is gone we will just have to solve this ourselves many people will have their own interpretations their own versions their own forks and so on so forth so guys what do you think about the scaling issue what do you think about the recent developments in between cash leave your comments in the comment section below and I mean it is all about education in my view it’s all about education educating new people what is basically what is the video and what is between cash and that is exactly why I’m making the Academy so Academy at that Ivano tech comm you can go and take a look you see here in the corner that you can sign up if you haven’t and it will be a course an online course well structure you will get quizzes you will get exams where I will teach you the fundamentals in blockchain technology you can see the course contents on the website and my whole goal is to give you a fundamental knowledge base that you can use in order to learn on your own because you need a knowledge base so yes if you’re interested take a look and if you’re new to this channel you should definitely subscribe to it because you will find this channel interesting I myself am a software developer and I’ll see you guys next time

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