BSV may pump higher than BCH and try to pretend it is the better Bitcoin.

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Avatar for Big-Bubbler
Written by
4 years ago

Like BTC, BSV is development-centralized and can't scale, so I am not worried.

I think BSV's owners may pump BSV to a higher price than BCH. Recently I may have been seeing more than the usual 'BSV is legitimate' social media chatter such as this article that says BSV will be flippening BTC soon:

https://bitcoinandtheblockchain.blogspot.com/2020/01/the-coming-bsv-skip-and-flip.html

This is most likely manufactured social engineering from the BSV's owners. I think they can easily afford to make BSV grow higher in value than BCH. If I remember correctly, the rich owners of BSV have pumped it higher than BCH before. The first time was probably just for ego/psycho. reasons. I think they may be working on doing it again now. If so, I would guess this time they are making some kind of "big move". Maybe so they can dump at the top or maybe something more devious? I am not concerned over this unsustainable run up by BSV. I think it will actually help BCH, but, I am concerned about what they may have up their sleeve. Such uncertainty is sometimes their goal, but, I would just be vigilant if they do keep this up.

This is adapted from a couple of my posts on r/BTC: https://www.reddit.com/r/btc/comments/eojn0u/bsv_may_pump_higher_than_bch_and_try_to_pretend/

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Avatar for Big-Bubbler
Written by
4 years ago

Comments

No need to worry. What if they pump to 1000 dollars? What is they pump to 10 000? Its only interesting if you want to speculate on it. Otherwise its totally irrelevant for you and for us. They already split long time ago. They will also have halvening in april, thats probably one contributing factor for the price rise.

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User's avatar Geri
4 years ago

Ya, unless it is an attack on BCH, I do not think it matters much to BCH.

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User's avatar Big-Bubbler
4 years ago

Good forcast. Do you think it will pump higher or slide back down or...?

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User's avatar BCHakaBitcoin
4 years ago

Thanks for your support here and elsewhere!

My theory (guess) on BSV pumping is that it is mostly the rich owner doing it so he can dump the huge amount of BSV he has accumulated while propping up the price since it was spun off from BCH. He wants to dump at a profit, so, he can't sell it all fast as that would crash the price. After the recent pump I guess he has been selling some and that is why BSV has been falling even when other crypto's have been moving upward a little bit now and then. I do think he will pump it again and then sell on the way down repeatedly if making these moves leads to him having less BSV over time. I think BSV is all marketing and no fundamentals. I assume he knows this and want's to reduce his BSV ownership at a profit.

I have seen a social engineering article suggesting they may be planning to push BSV as high as BTC, but, that seems unlikely even though I think it may be possible. The social engineering frenzy from BSV that accompanied the recent pump seems to have settled down again mostly. I would expect that to get more aggressive again if they were going to pump significantly higher than it is now. If the pump they just did made them good profits, I would expect more in the future. I am just guessing about most of this though.

EDIT: If they are going to pump it, they may sell it down in price for a while before a pump? Or, they may just support it at these prices while preparing to pump again? I do not know how the math pencils out on pumping and dumping to reduce holdings of a pretty illiquid crypto..

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User's avatar Big-Bubbler
4 years ago

Thank you for the detailed response.

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User's avatar BCHakaBitcoin
4 years ago

I don't think it'll last. Probably will just repeat the last time.

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User's avatar Read.Cash
4 years ago

they 24h volume grew sginificantly

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User's avatar Geri
4 years ago

It's BSV preparing for the halving. Prediction: they'll try to attack BCH when the hashrate is lower and will use that to help position BSV as the only "big blocks" fork which could survive. That's the only reason BSV exists, an attack chain, and as a public attack chain it needs hashpower from the market's money. No honest miner will waste his money on making another fork fail. When they appear to be making it succeed as by pumping it or attracting users they really mean to make scaling the (permissionless) blockchain fail.

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User's avatar unitedstatian
4 years ago

So-called centralized vs decentralized development have their respective pros and cons.

Perhaps a more important distinction than the above would be how to structure and, very importantly, how to achieve CONSENSUS on, development goals.

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User's avatar marley2020
4 years ago

Without sufficient decentralization of both development and mining a currency becomes censorable and can be broken or changed at the whim of the controlling entity(ies). Neither situation makes for a reliably trustworthy currency with a large marketcap. If there is an apparent need for consensus, it is because the "owner" allows it to appear that way.

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User's avatar Big-Bubbler
4 years ago
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