CRYPTANALYSIS - HOUSE VIEW ON KEY ALTCOINS

For general questions, please read our F.A.Q.
Disclaimer: Cryptomover is not a licensed financial advisor. The information presented in this piece is an opinion, and is not purported to be fact. Cryptocurrency is a volatile virtual commodity and can move quickly in any direction. Cryptomover is not responsible for any loss incurred by following this advice.

 

36.BITCOIN CASH BCC (Published: 01st Aug, 2017)
Basic Information
Bitcoin Cash is the UAHF from the original Bitcoin by developers who disagree with SegWit. It features a flexible block size between 1mb to 8mb, protecting replay and wipeout attack by a new flag SIGHASH_FORKID, improved speed and security, and lower transaction fee etc. The UAHF will activate on 12:20 1 August (UTC+0) and split from the original chain.
On 22 July, ViaBTC stated that they are allowing people to convert their BTC into both BCC and BTC_FROZEN2 with a 1:1 ratio, meaning that users can convert 1 BTC into 1 BCC and 1 BTC_FROZEN2. However, deposit and withdrawal for both BCC and BTC_FROZEN2 are not permitted at the time being. On the same day, they were also listing BCC/CNY and BCC/BTC trading pairs.

Future Development
BTC_FROZEN2 represents the BTC assets other than BCC, and they will be redeemable after the activation of UAHF. However, ViaBTC will announce later about the exact date for deposit and withdrawal of BCC. 
For other users who don’t use ViaBTC, Bitcoin Cash mentioned in their FAQ that Bitcoin owners will automatically own BCC after the fork. However, if the Bitcoins are stored in an exchange or third-party wallet, it is not guaranteed to acquire the BCC. Hence, it is recommended to store the Bitcoin in your own wallet and have controls over your private keys to gain access for both coins.

Trade Suggestions
Right now BCC is trading at around 0.1 BTC, sometimes ago it was even 0.5 BTC, that means there is an arbitrage opportunity. For example, if a user deposit 10 BTC into ViaBTC, and convert them into 10 BCC and 10 BTC_FROZEN2, he can then sell the 10 BCC for 1 BTC, and after 1 August he can withdraw the remaining 10 BTC_FROZEN2, ultimately earning 1 BTC on the SegWit2x chain.

Risks
If the SegWit2x chain becomes the majority, the above strategy will have a net gain, otherwise the user will lose 10 BCC on the UAHF chain in the above example. Also, there will be a counter-party risk by storing the BTC asset on a relatively new exchange. Therefore, to completely mitigate risks, one should store all BTC in a personal wallet in order to secure the original BTC and receive an equivalent amount of BCC after 1 August. 

© 2017-2018 Cryptomover.com