Coinbase bitcoin cash price jump

A very strange thing happend on December 19th, 2017.  The price of Coinbase bitcoin cash (BCH) jumped up almost 4 times while other crypto exchanges were going up also (only 50% to 100%)  but not so fast. All the figures of cryptos were negative on coinmarketcap except for one coin, Yes you guess it: Bitcoin Cash

All kind of speculations were in the air about pump and dump (a way to inflate the price artificially and sell for a great price leaving the other people with an asset that is not in line with the real market price).

Coinbase bitcoin cash

WTF happened with coinbase?

Coinbase bitcoin cash added to account

There was something going on with coinbase where the previous owners of Bitcoin would receive their Bitcoin cash coin if they owned Bitcoin on coinbase before August 1st 2017.

Trading (buying and selling) was halted on coinbase. The strange price was a result of adding Bitcoin cash to the user accounts.

More information about this change can be found on the coinbase FAQ support page.

It will stay a mysterie for now what really happend on the market (all major crypto coins down and a price jump of 100% for Bitcoin cash in a few hours).

Insider market knowledge

Will be added later when this strange event has been investigated further.

Cryptovest about Suspicions of Insider Trading for Bitcoin Cash

Send LTC to legacy blockchain

Litecoin L-addresses are legacy (non Segwit or non-P2SH) addresses.

Litecoin addresses starting with 3 will start as M (to differenciate from Bitcoin addresses).

The complete Litecoin address will change but they point to the same Litecoin address on the blockchain.

You can convert an address from legacy to the new Segwit.

PS: If you use,  to convert cryptos, It can only sent to the old legacy Litecoin address. You have a small challenge here now.

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The Bitcoin indicator

The value of the Bitcoin is an important indicator in our current society. It can be seen as an aggregated performance indicator for the new money: value, trust and emotion. Also other components are embedded in this indicator: greed and fear, just to name a few.

If you have not heard about cryptocurrencies, please take a few days off and investigate this further (this website could help you a little bit).

Read moreThe Bitcoin indicator

Cornerstone Cryptos

The Top11 list changes quickly. On May 28, 2018 a screenshot has been made. Compare this with half a year earlier, then you know, more changes are coming. The Total Market Capitalization is a misleading value. More about this soon.

Below the TOP11 list (December 18 2017, 171218). A number of Cryptocurrencies can be considered a crypto cornerstone. The problem is: It can really change fast. At this moment we can say there are 5 cornerstones or the Cryptocurrencies in the Top11 list. Those are:

  1. Bitcoin
  2. Ethereum
  3. Bitcoin Cash (a hard fork of Bitcoin)
  4. Litecoin
  5. Ripple
  6. NEM
  7. IOTA
  8. Cardano
  9. Monero
  10. Dash
  11. Bitcoin Gold (a hard fork of Bitcoin)

These belong to the Top10 cryptos. On the border (number 7 to 14) the names can change quickly due to the influx of new money from the fiat system or special news (like government and bank regulations, bans, hacks, politics, developments and many more).