What the fork is going on!!!!! (Part 2 of 2)
Ok so here we go with hard fork #2
And you probably guessed it correct again, Bitcoin Private or BTCP is the hard fork that will be highlighted today. I will proceed the same way I did yesterday with Litecoin cash where I basically provided a few pointers about this coin in a FYI format, and they are as follows:
1). The snapshot is scheduled to happen on Wednesday 02/28/2018 with the fork date and main net launch scheduled to happen approximately 2 days later.
2). Anyone holding Zclassic ZCL and Bitcoin BTC (who owns their private key) will receive a 1:1 ratio of BTCP.
3). Here is an example, If Bob is holding 1 BTC as well as 1 ZCL at the time of the snapshot, Bob will receive 2 BTCPs
Hopefully that example was simple enough for everyone. For anyone wanting to find out more about the BTCP hard fork, click here.
BTCP is or will be a privacy coin like Monero XMR, the development and marketing team is most likely using the bitcoin name to draw the attention to the coin also combining that with the privacy of ZCL to delivery their perfect coin. I have noticed a spike in the ZCL price over the past several weeks and I would assume a part of that spike may have been attributed to the news surrounding the upcoming hard fork. We all know that Bitcoin will continue to be Bitcoin in the marketplace which leads me to my main concern in this particular hard fork, Lets make a positive assumption that the BTCP hard fork is successful and is quickly adopted in the marketplace (which is possible), What would become of ZCL and their investors thereafter?
Your comments are greatly appreciated
Cheers.
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Great post! check out the fork Monero is goign to do so ASIC miners cant have control over the coin.
Any idea how many cryptos are being created everyday, everyweek?
I understand to create a token, is easy, but are the new ones have a real purpose?
Honestly, I wish I had an answer for you but unfortunately I have no idea. If you do a google search for upcoming BTC forks, you should have a little laugh about it, Enjoy.
I am sceptical about forks.... this brings more confusion into the space. And new people who just entered the cyptos can be more confused than they need to be....
@ansisltd, I am in agreement with you, especially about the confusion it brings to the space however sometimes a hard fork maybe warranted as in the case of ETH and ETC waaaaaaay back in the day lol.
Do you have to hold both ZCL and BTC? What if you just have BTC? I assume holding both in Bittrex means you will get credited with the new coin.
Great Question @thewidowmaker, it doesn't have to be both coins, personally, I am currently not holding any ZCL but I will still be credited the BTCP on a 1:1 ratio. The thing to remember is to have your coin(s) in a wallet where you control/own the private key or on an exchange that is supporting the fork. I hope this answer helps, cheers.
Awesome. I contacted EXODUS and Bittrex to see if they will support it. Between you and me...just kidding... I might just add to my accounts and dump right before the fork if I can't get clarification. I think Bittrex will do it because I didn't do a thing and I got bitcoin gold after the last fork.
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