Episode Highlights:
- 00:23 – Bitcoin Versus Bitcoin Cash
- 00:44 – Details About Bitcoin Cash
- 01:16 – Bitcoin Chart
- 01:42 – Bitcoin Cash Chart
- 04:50 – Debate On Either Bitcoin Cash Is Truly Bitcoin
- 05:18 – Bitcoin Cash And Bitcoin Analysis
- 06:32 – Trading Bitcoin Cash On Coinigy
- 08:11 – Reason Why Bitcoin Cash Is Going Up And Bitcoin Going Down
- 09:14 – Bitcoin.com CTO Denounces Bitcoin For Bitcoin Cash
- 10:48 – Roger Ver Declares Bitcoin Cash To Be True
- 11:13 – Be Familiar With Jihan Wu
- 13:12 – Coinigy Trading
- 13:12 – Get Familiar With Craig Wright
- 15:19 – Reason For Making This Video
- 15:48 – Take Note Of What John Macafee Said
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Transcription:
Hey, what’s up, guys? It’s Dan again from cryptocamacho.com where each day I teach you how to make more money in cryptocurrency. Guys things are going crazy today with Bitcoin cash. I hope you had a chance to get on the action and see what’s actually happening. If not am going to review to you all right here, and show you exactly what’s happened, and what you can expect next.
00:23 – Bitcoin Versus Bitcoin Cash
You know things are really heating up, in the debate between Bitcoin versus Bitcoin cash. what is the true Bitcoin? What is the real Bitcoin? What bitcoin will actually survive? Will they both survive? You know what one’s going to kind of go up on top? And it’s been a debate for quite some time now, between the core development team of Bitcoin versus the new folks that actually did the hard work for Bitcoin cash.
00:44 – Details About Bitcoin Cash
And so, I want to dive into some of those details here, but first I want to show you a little bit about what’s actually going on. So, today guys the price of Bitcoin cash jumped up about 30% approximately 20%. At $2,805 that’s where we’re at now. It actually broke 3,000 earlier today, and I’ve been day trading on it all day along. And I just taking a break now for a minute to make this video really quickly. To show you guys what’s actually happening. I hope you’ve been following this because there have been some huge-huge price surges.
01:16 – Bitcoin Chart
So, let’s jump right over to the charts. So, if you look at Bitcoin in the last…gosh since December 17th, in the last two days literally, in the last two days it has fallen all the way down the right. We’ve fallen 16% off bitcoins high of almost $20,000 down to about 16,600 approximately right. So, that’s on the Bitcoin side.
01:42 – Bitcoin Cash Chart
On the Bitcoin cash side, you’ll see that we’ve actually gone up. We’ve gone all the way down from let’s just start right here right, all the way down all the way up about 85% in the same time right. So, in the same time Bitcoin dropped 16% Bitcoin cash went up about 85%. Pretty crazy right guys, and you can see my charts I’ve been trading like crazy on this over the last few days right. So, why is this happening? Why is Bitcoin cash all sudden surging up? why is Bitcoin losing momentum? I don’t want to miss a trade here guys, I might have to pause this video for a second here, but actually give me one seconds. I’m going to pause this video for one second. Okay guys random while am making this video I actually had to make a trade. And let me just show you in real quick, let me break it down for you a little bit. I saw the price rising a bit, and it’s still…I mean it’s not rising in time, but I wanted to get in just in case I made my trade right here guys. And I saw another rise and I don’t want to miss it. So, I bought it. I may have to pause this video again, but this is how it works guys. This is how I trade all day. I’m watching these charts among other things right. I’m doing other things and there it goes, and there we go perfect. Okay, so I’m hoping this is going to keep going up, but let’s get right into the nuts and bolts of this video. I’m going to go back to an hour chart here. So, in the last few days, in the last two days we’ve seen Bitcoin decline about 16%. We’ve seen Bitcoin cash go up about 85%. Why is that happening guys? Why is that happening? Well, if you do a quick search on Google, and just type in Bitcoin cash you’ll start to see some of the news around there right, 20300 and rising. All eyes games against Bitcoin. Bitcoin punches $1,000 in less than an hour. Crypto watch and if you look at more of the stories you’re going to start seeing headlines of what’s actually going on. Skyrocketing fees are fundamentally changing Bitcoin. Bitcoin risks bearish price reversal as altcoins Serge. Thomas reutters [inaudible, 03:46] Bitcoin cash to their platform. So, you could go through and do this yourself Bitcoin.com co-founder dumps Bitcoin for Bitcoin cash. So, what’s actually happening is Bitcoin core, the original Bitcoin several months back, I think it was around August, it’s split. There was a hard [inaudible, 04:01]. Bitcoin actually created Bitcoin cash right. I don’t know if you remember that. There was a whole kind of fluff around it, people got a bunch of free Bitcoin cash coins and made a decent amount of money right. if you had any Bitcoin you got Bitcoin cash coins and that went right up, but then it fell right back down. And there’s been a debate since that happened of what coin is truly Bitcoin right. Bitcoin core has now been incurring fees, that are becoming astronomical. it’s becoming very difficult to use Bitcoin to make everyday transactions right. And the speed at which you can buy, and sell, and transfer Bitcoin is actually very -very slow. Bitcoin cash need to solve that by increasing the block size of the blockchain right. so, that it will facilitate faster transactions at a cheaper price. So, that’s actually what’s technically going on behind the scenes.
04:50 – Debate On Either Bitcoin Cash Is Truly Bitcoin
But there’s been a debate whether or not you know Bitcoin cash is truly the Bitcoin, or if we should stick with the Bitcoin core team because that’s what Satoshi Nakamoto the founder of Bitcoin the inventor of Bitcoin really wanted right. So, it’s a debate going on right now. The thing that strikes me and why I’ve been watching this so-so closely is because some of the biggest players in the space have now been declaring their allegiance to Bitcoin cash right. and when that starts happening you really have to start wondering okay. what is going on here?
05:18 – Bitcoin Cash And Bitcoin Analysis
So, let me show you exactly what I’m talking about really quick going to jump over the chart. Look at this guy’s super-super excited about this guy. I just made trade literally five minutes ago in this video it’s already up 4% nice. I just literally made probably a couple hundred dollars within two-three minutes. So, anyway I’m not going to focus on that, but let’s jump right in and see as you can see I want to show you something really quick. I’m doing this in real time, so bear with me here. As Bitcoin cash goes up you’ll notice Bitcoin goes down. And that’s what’s happening, and I’ve been playing these trades all day. You can see my arrows on here because every time I sell Bitcoin cash you can see my arrow because I’m doing it on you know in quantity and it’s making the transaction here. And basically, what I’m doing is, I’m buying and selling my Bitcoin cash for Bitcoin here. So, it’s automatically adding it to my account here. So, that’s why you don’t see those arrows. it’s a little technical detail but I’ve been playing these bounces all day long. You can see that it’s going down, it goes up, it goes down, it goes up, it goes down, it goes up. And if you time this right you can actually make a lot of trades, and a lot of money all day long right. if you have the patience and time to do that. That’s what you can do. So, what I typically do is, I’ll work on other things while I’m actually trading.
06:32 – Trading Bitcoin Cash On Coinigy
So, that I could just kind of walked in with coinigy. You can set alerts you know if it drops below here alert me right. That’s exactly what I’ve done. I’m going to go ahead and set an alert right now because if it drops below here I want to be notified. Because if it does drop below there is likely going to be a bounce-back, and I want to get in on that action. So, as the price of Bitcoin cash is going up, the price of Bitcoin is going down right. Okay, so that’s how it’s working guys. So, now the heavyweights behind this and actually it’s…sorry before I get into that really quick I just want to show you kind of how I’ve been playing these dips right. So, there’s a Buy and a sell right. I buy, I sell. I buy, and I sell. And a lot of times I’ll buy, and I’ll sell, and it’s not all perfect right. Sometimes I buy too high, and I sell too low that happens right, but the ones that really-really make a difference are the ones that are downright before the huge surge right. Like right here that’s where I got in. Right here that’s where I got it, right here now it looks like that’s where I got in. So, there was a dip, and then you got a watch on the dip, is it going to keep dipping down, or is it going to bounce back up? In this case, it’s bouncing back up. And I’m super glad that I got in on this before it went too high right. So, I am going to pause the video really quick come on other this for just a second. Hi, guys, I’m super pumped about this trade that I just did man. I am excited I should do some live sessions and if you guys would like some live sessions I’m happy to do it. It doesn’t always turn out like this right. This is not you know an everyday thing that happens. This is definitely an anomaly and recording it live. So, you have a chance to witness what’s actually going on. It’s pretty…it’s truly amazing. It’s actually pretty fascinating. What’s actually happening right now between the two, but that’s beside the point I had an address.
08:11 – Reason Why Bitcoin Cash Is Going Up And Bitcoin Going Down
So, let’s look at why this is actually happening. I already kind of scratched the surface a little bit, you could read some of these articles yourself. Now look if you go to coin Telegraph, you’ll see the same thing right. Bitcoin.com CTO denounces Bitcoin. I’ve switched to Bitcoin cash. That was 10 hours ago and the [inaudible, 08:27] says he’s switching to Bitcoin cash. Bitcoin cash surges above 2000 following Bitpay integration announcement. Bitpay is now going to adopt a Bitcoin cash right. They’re going to still support Bitcoin, but they’re making the transition. This is happening all over the industry guys. Coinbase is about to list Bitcoin cash on the exchange there right. others you saw Thomas Reuters in this last one I just showed you I think it’s right. He was the…Thomas Reuters as Bitcoin cash to the increment platform whatever that is. So, everybody is starting to get it…they’re starting to catch on that we need to switch to Bitcoin cash. And you can see what’s actually happening before our eyes literally.
09:14 – Bitcoin.com CTO Denounces Bitcoin For Bitcoin Cash
So, let’s keep going with this. So, Bitcoin cash…Bitcoin.com CTO denounces Bitcoin for Bitcoin cash. Basically, he says an investment in Bitcoin right now I would say is the riskiest investment one can make. It is an extremely high risk. I’ve actually sold all my bitcoins recently and switched to Bitcoin cash. I would agree with that, and I have been fearlessly watching the markets Bitcoin, and Bitcoin cash every single day as much as I possibly can, because I knew this was coming. Because of the news guys, I’ve been watching the news and following the news, and this is what’s coming. And the big players in the industry are telling us this. And that’s who you need to pay attention to. And here’s another little tip right, he says this is again the CTO of Bitcoin.com. We’ve actually stopped developing new service for the old Bitcoin network now in Iran and are now focusing mostly on developing for Bitcoin cash. Where it costs only 12 cents to send Bitcoin cash, and there’s no waiting. The only backside is that it requires larger hard drives, but that’s not a problem for most people. There’s only a limited amount of transactions per second you can make in a Bitcoin network, which in part depends on the block size of the memory that store the transactions on the blockchain. The bottleneck makes for a highly risky and liquid cryptocurrency. It old Bitcoin network is as good as unusable. So, this is what’s happening guys, people are dumping the old Bitcoin because they’re saying the transaction fees are too high. And they’re saying that it’s too slow to transfer funds. And so this is what’s actually happening now is people are switching. Every large player is doing this. Roger Ver he’s like considered the godfather of Bitcoin.
10:48 – Roger Ver Declares Bitcoin Cash To Be True
Roger VER declares Bitcoin cash to be the true Bitcoin, market forces bring more attention. He has been warning us about this for probably at least a month, maybe two months he’s been telling us this. And I’ve been watching, I’ve been listening, and I’ve been waiting for this moment to happen. Which is why I can make a trade like I just made. And that I’ve made down here right. This is a very-very exciting time guys.
11:13 – Be Familiar With Jihan Wu
One other person, I want you to become familiar with and a very-very smart intelligent guy his name is Jihan Wu. He is the largest Bitcoin miner on the planet. He owns the largest pool of Bitcoin miners and mining software. A mining company I should say on the planet. And he really is the one that dictates a lot of what happens, because the miners have a lot of power in what bitcoins actually survived, and don’t right because whoever is mining the coins are actually creating the coins for people to trade. If they’re not mining them, or if there’s less mining then people are going to trade them right. and the more people are mining it the cheaper it’s going to be to actually mine that’s scale right. So, that’s what Jihan Wu was doing. John McAfee said Jihan Wu is the smartest person he has ever met. He’s put a lot of faith in him. John McAfee, I have a lot of respect for him. He’s a super intelligent guy. He knows a lot about this cryptocurrency space, and he’s been telling us as well. Jihan Wu says all Bitcoin cash fans should be braved, to tell the truth to the world, and friends when Dragon’s Den coordinated another social engineering attack. What does he actually mean by this? It was kind of cryptic when I first read it, but if you read through these comments and this is on Reddit guys. So, you can search this, or I can put this in the show notes, but when you read through these comics guys, you notice that what he is saying is that bankers and other business people have hijacked the Bitcoin core community. And they’re basically trying to steal it, to make it appear to be valid Bitcoin. And what Jihan Wu is saying is nope that is not the case, you have to be brave. You have to tell people that bitcoin cash is the real Bitcoin, and this is what’s happening. I’m kind of indifferent to you know what bitcoin I use. I don’t really personally care All that much, but I do want fast transactions. I want cheap transactions and I want to be able to transfer my Bitcoin around very-very quickly and that’s not happening with the core Bitcoin right now. And I’m actually kind of getting sick of the fact that it takes me two hours to transfer a Bitcoin from coinigy you to an exchange. I mean in that time I could miss a bunch of trades right.
13:12 – Coinigy Trading
Let’s jump back and look it’s still going guys it’s still going this is freaking insane anyway. So, Jihan Wu look out for this guy, watch him, follow him on Twitter, on wherever just follow him. You know he is definitely a market maker, and he is definitely behind a lot of this. He’s switching to my Bitcoin cash and that is why you’re seeing this jump. It’s going up and up and up look. Bitcoin is going down and down and down again guys. Take note hopefully, you’re watching this now.
13:44 – Get Familiar With Craig Wright
So, again lastly not only well actually there’s two more people I want to make you familiar with Craig Wright claims 2008 will be the year a Bitcoin cash. Craig Wright if you remember who Craig Wright was, he actually suggested a claim that he was Satoshi Nakamoto maybe five months ago, six months ago something like that. Claimed he was Satoshi Nakamoto that he invented the Bitcoin whether or not, he is I have no idea. I don’t know. I don’t really care, but he’s warning us again. This man is super intelligent whether or not he’s Satoshi I don’t know. This guy has a plethora of mathematics degrees and advanced engineering degrees. He knows what he’s talking about. He knows the intricacies of Bitcoin. The Bitcoin network, the mining networks, set point topology in terms of how you calculate the analysis of what’s happening in the Bitcoin network. And he is also saying 2018 will be the year a Bitcoin cash. Does that mean we’re going to see Bitcoin cash go up to 20,000 like Bitcoin? I don’t know, but it’s certainly going to rise right. so, Craig, you can read through this. I’ll put this in the show notes as well. He says we will see the following in 2018 secure threshold systems to make even web wallets secure transaction, blinding for increased privacy…whoops sorry about that. Improved mixers, all work with low fees, open Bitcoin cash to global adoption. So, this is a big-big-big move guy and you need to take note. Looks like we are slowing down a little bit.
15:19 – Reason For Making This Video
So, I think that’s fine, but anyway, the point of me making this video is for you guys to understand what’s happening here with Bitcoin cash and Bitcoin. There is a war going on, between the two. The Bitcoin core development team and the Bitcoin cash team. That is hard Fork ultimately, this is going to be left up to the miners and the traders because the miners are the ones that make the coins. They’re the one that put in the money, the blood, sweat, and tears to show proof of work. They spend the money to mine the Bitcoin right. They’re going to largely dictate how this plays out. And if some of the largest players in the industry are saying this, then you should take note.
15:48 – Take Note Of What John Macafee Said
The last thing I’ll leave you with is that John McAfee said the same thing. You know he’s been saying the same thing about a month ago. He’s a little bit more cryptic in terms of saying specifically Bitcoin versus Bitcoin cash, but when he talks about Jihan Wu the guy I’m just mentioning here. He talks about him with the utmost respect, and he talks about him like he is a God. And the most intelligent man he’s ever met. If Jihan Wu is switching to Bitcoin cash, investing his mining pool, and miners into mining a Bitcoin cash. McAfee is doing the same thing. You can expect that, and that is why you are seeing this enormous price surge, guys. Anyway, hopefully, this was helpful for you guys? If you have any questions, please let me know. If you haven’t subscribed yet, click on that little red button on my YouTube channel. I’d love to know your feedback. I’d love to know if you agree. If you’re a loyalist to Bitcoin core, or if you are a…what’s the word if you’re an adoptionist or an innovator. I should say and if you’re more leaning towards Bitcoin and cash let me know. I ultimately do not care, but I do think Bitcoin cash will be very bullish for the next probably a couple months to come. I think we’re going to see a long run-up with Bitcoin cash coming very-very soon here. And you’re actually seeing the start of that. Anyway, guys, I’m Dan from cryptocamacho.com hopefully this was helpful? And I will talk to you next time see you guys.
