ICOs Are Out AirDrops Are in
With recent bans of ICOs a new method for splitting off coins and creating new ones is starting to increase. These are called airdrops.
What is an airdrop ?
A airdrop you might know better as a hard fork. When a hard fork happens a new coin is split off of the block chain but what happens is everyone that currently owns coins on the main blockchain also gets that many coins of the new currency.
What this is currently doing is driving up demand for the core coin such as Bitcoin and Ethereum.
My suggestion to you, pick up as much as you can and hold. Keep any eye out for any new splits and make sure you are in a position to capture the split once it happens.
Why an Airdrop instead of ICOs
ICOs have been kicked to the curb by governments and for good reason. I always hated it myself all these misleading coins that contributed nothing but scammed people out of money.
So why airdrops now?
Airdrops contribute much the same end goal as an ICO does.
It creates the instant distribution of tokens and also raises capital for the forked coin as we saw most recently with bitcoin cash and possible soon here with bitcoin gold.
The downfall here is that your coin needs to be on a exchange, wallet or other type of service which is going to support the new coins and find them for you. (I have yet to find most of my bitcoin cash from the last hard fork because of this)
All in all though if you are long on bitcoin and ethereum you most likely are sitting in a very pretty place right now ;)
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Air drops are hard fork. good substitute of ICO.
Super informative post, I'll have to do some more research on airdrops now. Do you have any good sources/research you have saved?
Also: Beware of the possible crash immediately after the hardfork in november though. Our last btc hard fork [8/1] definitely had us skyrocket, but it was artificial due to people wanting as much BTC as possible when the BTCash was distributed on Aug 1. The price didn't drop immediately, but this also might be due to the large amount of exchanges and issues people had recieving their BCH. Not only will the exchanges be more prepared for this event, due to the last ones excitement I think many traders will be shrinking their portfolios to strengthen their BTC all the way up until the hard fork, then re-diversify quickly after causing BTC to drop but eth and alt's to increase.
This is all just morning speculation though to be honest. Lets be real, none of us have any clue what is definitely going to happen in the volatile world of the crypto-space.
Thanks for sharing important information. .. i m sure it will be very useful for us all
Interesting, is it really that simple though? I see bitcoin has another fork upcoming and also a segwit?! 2 new coins to be created in november? I feel like this is the miners or original investors just driving up the price of bitcoin for their own benefit, but i could be wrong
Yes we don't know. . By the way People's speculation were wrong almost every time regarding bitcoin ... isn't?
One that I know of and that would be bitcoin gold which will be a GPU intensive coin
Although i love how much bitcoin is going up in price, the rise is artificial as everyone is trying to get as much bitcoin as they can before the fork. This probably will result it the price dropping after the fork, thats my bed but i could be wrong.
The upcoming fork is not the only thing pushing this rise though.
No? What did I miss?
But why would people sell off their altcoins and invest in bitcoins rather than keep their altcoins and use fiat money in purchasing bitcoins? Is this an indicator that Bitcoin has officially stamped its authority as King?
It seems so and governments such as China and the USA have pushed back hard on ICOs
Lets see china .. south Korea. .whos next.. I myself learning every day.
Well bitcoin fees needs to get cheaper again. Bitcoin has smartcontract laready and ico platform and market recognition.
Thanks for sharing this is very helpful, i took part in some airdrops and i have received some tokens and am still wait for some to arrive.
@bitcoinflood i like this "A airdrop you might know better as a hard fork" this quote i love read very well done & great job good luck for feature post
You hAve Got Nice profile
Excellent post; how did you make animation at the end? Also, I think ICOs and Airdrops can go hand in hand for now, as both need each other to succeed. I spend a decent amount looking for airdrops coins. And there are couple of methods I use to find airdrops:
Hope it's help to the crypto community :)
good inf