Both Dash and the recent addition of bitcoin cash are in my core portfolio. I am taking this opportunity to add to one, and wait on another. The reason is simple as I explained in the NEO' article. CHINA! Bitcoin cash has many ties to China and anyone in the markets for any amount of time knows how China does business. Right or Wrong is not what I care about. I'm sure there will be several bitmain comments with this one, but this is the exact reason I like Bitcoin Cash over Dash'.
Let's look at some facts:
Bitmain Co founder is Wu Jihan - Chinese Dash Founder is Evan Duffield - Not Chinese
Bitcoin cash and Dash are competitors in the space. But this is the reason I like BCH better! Dash has a good presence in Europe and the America's but no so much in China. The Euro and the Dollar (along with the Yen) are considered the more stable world currencies. But China and other asian countries their currencies tend to fluctuate which is the reason the chinese are one of the biggest hoarders of gold! We also know that China is totally focused on Chinese businesses and the Chinese Business person. They create numerous regulations to give them an edge in all aspects of doing business. Note very little market penetration into China with DASH.
As Bitmain is a chinese mining company, and China is the 1000lb Gorilla in the room when it comes to Asia. For this reason and the fact Dash has little market penetration in Asia, I think the growth will be in Bitcoin Cash.
But look at the charts they do tell the tale!
Note on the left the difference in rebound between Dash' and Bitcoin cash. Cash rebounded higher. Also note the current correction and the spike we got in bitcoin cash recently compared to Dash'. To me that is someone buying a large block and price did not matter here. Also if you notice on the right hand chart, while the resistance level remains the same for DASH' the resistance level for Bitcoin cash has moved up a level! Nice a rising support line.
Now this does not mean I'm buying here as I still want things to play out, but if Bitcoin cash shows solid support at this level I'm adding. Dash' on the other hand I want to see it fall back to the next level before adding or show some kind of movement. Dash is not tradeable in my opinion and I'm not adding here either! Bitcoin cash could be a play to the long side, but we could also retest the lower support level in red, and as there are better setups I think I will pass. But for the long term I'm adding a little here and hopefully will get an opportunity one more time to add lower.
@xdwingdx, Wow..Thanks for the share. I have been following BCH very closely and have this sinking feeling. I already got in 20% into BCH (65% BTC) and feel like a deer caught in the headlights now sure which way to jump into.
BTW talking about a wonderful use-case of yours.org+BCH. For the first time in my 20 years of Internet usage, I paid/tipped to read an article. Makes me think that this not just SF
goldbug1
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@imkeshav, Yes the radio show tomorrow is on it as well. The Henry Raines show. I'll be on it! Lots of fun!
@goldbug1, sorry, actually that sounds a bit creepy :D but you know what I mean!
BRRD
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@imkeshav, that sinking feeling is good - it means you are buying low!
What I write here is only my opinion and not a guarantee. But I have my money where my mouth is.
Bitcoin cash is very relevant. For years different groups, investors, devs have tried to put forward implementations of Bitcoin that raise the blocksize. Today many conflate Bitcoin cash with these earlier implementations (Bitcoin XT; Bitcoin Classic; Bitcoin Unlimited; et al) but this is not accurate. None of these earlier implementations succeeded because none of them ever ended up overpowering the main chain and now have dwindled. And with Segwit2x looking very shaky it looks very much like Bitcoin Core will NEVER allow a big block implementation to happen. They simply will not accept bigger blocks.
Bitcoin cash HAS succeeded because they went the whole hog and forked - they have a chain which is not under Core control, and this will not go away. Big blocks are on a totally different level now.
Now all those supporters of big blocks from years back (it is not a conspiracy by a few - there are many supporters) have the solution in Bitcoin cash. That's the basic technical side of the argument.
Probably even more important for my own bullish view is the human / business side of the equation. As Goldbug highlights you have very powerful supporters of Bitcoin cash - miners, early adopters of Bitcoin, businessmen... - the evidence shows that these guys are in it for the long haul. For proof of this see how Roger Ver has now gone past the point of no return and tied Bitcoin cash with his domain Bitcoin.com. See Bitmain accepting only Bitcoin cash for new mining hardware. These guys are tying up their businesses and reputations with Bitcoin cash. This is very significant.
So coupled with the fact that the market has been dropping for months but now looks clearly to be going flat, the incredible - absolutely huge - amount of criticism and FUD that is aimed at Bitcoin cash, Roger Ver et al on a daily basis (huge negative sentiment), I would be very cautious to sell now. There are clear signs that extremes are being reached and so I'm willing to be betting a rebound is in play.
One obvious point - if big players are really in it for the long haul the first thing for them to do is load up BCH when it is low. The one thing they cannot do at that point is go all out on marketing, unveiling their plans, etc. They remain in "stealth" mode while buying. There is no other way to do it.
Anyway, regardless of the coin if you look at the charts you can see some coins are up and some are down. The ones that are up the craziest are the ones to be most wary of if you are holding. The ones that are down the most are the ones to be watching closest for buying. Otherwise there is no "buy low; sell high"! :)