It’s Bitcoin Fork Season
If you’re new to bitcoin you may be going, what the heck is a fork? And what’s it got to do with bitcoin?
Well, it’s essentially a software change of the digital currency. And it creates two versions of the blockchain. Both have the same history, but new futures from the time of the fork.
The most well-known example is when Bitcoin Cash forked from Bitcoin this past August 1. Another recent hard fork was Bitcoin Gold from bitcoin on October 24.
If you own bitcoin you should pay attention to the forks. As an owner you get a match of the new coin. It’s like a crypto dividend. And there’s more bitcoin forks on the way.
First up is Bitcoin Diamond (BCD). It actually forked on November 24 but doesn’t look to be trading yet. According to coinmarketcap the BCD futures are going for about $48 right now. That may not seem like a lot but according to this you get 10 BCD for every 1 BTC you own.
Next up is Super Bitcoin (SBTC). For this one the snapshot took place at block 498888, which was December 12. According to coinmarketcap the SBTC is going for about $252 right now.
Next is BitcoinX (BCX). This one also had a snapshot that took place at block 498888, which was December 12. This looks like another one where you’ll get 10 BCX for every 1 BTC and the BCX futures are currently trading for $0.06.
There’s also Bitcoin Platinum (BTP) that forked on December 12. But according to this it’s a scam.
Next up is Lightning Bitcoin (LBTC) which plans to fork at block 499,999, which is estimated to occur around December 23. No price on this one yet.
As the new year roles in we’ll get Bitcoin Cash Plus (BCP) at block 501,407 which should occur around January 2. No price on this one yet.
There’s also talks of Bitcoin Silver (BTCS), Bitcoin Uranium (BUM), and Bitcoin Atom (BCA).
And for Christmas we’re supposedly getting Bitcoin God from Chandler Guo.
Don’t expect it to stop. Check out the fork history of Linux below, which has been around since 1991.
Forks on forks on forks.
May the fork be with you.
It just reeks of rampant opportunism and market ignorance to me.
All the Bitcoins can rot in hell for all I care. Lets get something that's really better to be the market leader.
Agreed, plan to sell them all.
I don’t like the fokking one bit and I did not misspell it.
lmao!!!
nice information..
too many forks
lol, yes it's kind of a pain
Nice share. I didn't realize there were this many forks. It's almost becoming a bit too much. It is going to water down each new one...kinda like money printing.
Thanks! A bit too much yes, like money printing... we'll see. Really depends on if it adds value. And that takes time and investment unlike money printing.
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And this is part of the reason I have been staying far away from bitcoin and its various forks. I thought cash might become something of its own but with so many other forks coming out who knows what will happen at this point. Also, we really need the lightning network on bitcoin else people will bail out like crazy.
Stay in BTC is all I'm sayin ;-p
It's crazy! Literally! It's like even insanity can go parabolic in crypto..
But I honestly don't know what to do anymore. I sold my BCH pretty soon after it came out for what I thought was a decent price. Now, of course, I regret it. Bitcoin Gold seemed like a total scam, and I sold it for a great price but instead of dying off it's actually not doing bad - it may even go higher?!
So now with all these new forks coming out, I'm completely torn on what I should do. I guess I'm going to have to actually research all of them one by one, tedious as it sounds. Somehow a Bitcoin fork just doesn't have the same appeal as a shiny new alt with some awesome use. But it may be worth it..
The added problem is that only Binance seems to add them easily. Bittrex I have no clue about, and Ledger isn't the fastest either with their support. I hate that my funds are so spread out all over the place currently :-/
Got any tips on which of these new bitcoins are the 'good ones' to hodl?
I think they're all a sell and getting to them will likely be a pain. Although Ledger has been good so far. I don't mind waiting because they do it right. Binance is great too I just can't hold all my bitcoin on an exchange, too risky. I sold BTG at lower prices too. BCH I kept half as a hedge. The goal is always to stack BTC ;-p
restemeed
thank you and my the fork be with you
You gotta wonder how much is too much. Resteemed for awareness!
Thanks!