Poloniex Allows Pre-Fork Trading of Both Bitcoin Cash Versions

XRP Cryptocurrency Gains User Adoption with XRP Tip Bot and Coil Payment Donation Tools

XRP Cryptocurrency Gains User Adoption with XRP Tip Bot and Coil Payment Donation Tools

"This is the first time we are offering pre-fork trading..."

Bitcoin Cash (BCH) traded up 10.47% on American dollar in the last 24 hours period closing 14:00 on November 6th EST.

A Bitcoin Cash hard fork does not mean that everyone, everywhere will open their wallet to find Bitcoin SV there, too.

If we look forward, the continuous uncertainties and the increased price volatility could weigh on Bitcoin Cash / USDT, which has increased too and above the 600 region which encourages a downside correction toward the major 38.2% retracement on the rally during November.

Many factors have influenced the recent increase in both price and volume of Bitcoin Cash, but perhaps the most important is a future hard fork, which will again be two main camps around the currency.

What are your thoughts on Poloniex offering the trading option of pre fork tokens? Notably absent is tether (USDT), the controversial-but-highly-liquid stablecoin.

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Poloniex, managed by Goldman Sachs-backed startup Circle, yesterday made an announcement on twitter amid the debate about the pending BCH hard fork.

However, such replay protection - which prevents a malicious user from broadcasting a transaction on both sides of the fork - does not exist in the wild, so users should be careful about moving their funds if they intend to hold coins on both sides of the fork.

The Bitcoin Cash price will likely remain volatile as the hard fork approaches, and will perhaps remain so for some time after, until there is clarity about surviving split chains and the hashrate ratio between all those splits. However, as this hard fork demonstrates, greater cooperation among its key developers is needed if Bitcoin Cash is to achieve its true potential. The new hard fork is said to be geared toward allowing a much bigger block size, which triggers all sorts of speculations on why you should or shouldn't make block sizes larger.

You see that kind of opportunity with Bitcoin, but you don't see it with BCH, so unless you have a rather sophisticated play on Bitcoin Cash, it's probably better to wade in with BTC.

The hard fork won't affect your BCH. Unable to reach a compromise, two development groups, Bitcoin ABC and Bitcoin SV, have launched competing BCH implementations that will be incompatible once the fork activates on November 15. SV stands for "Satoshi Vision", because they're reverting back to an older Bitcoin implementation.

"You do not have to engage in pre-fork trading". At present, BCHABC is trading at $535 against USDC, almost six times above BCHSV, which is priced at just $90. This is the time when traders tend to shift their assets into the forking coin prior to the fork to collect the newly forked coin. That should change as these markets grow more liquid.

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