As you probably know another Bitcoin fork is coming at the end of February, Bitcoin Private (BTCP). It's pretty much the same as any of the others, 21m supply, 2MB block size every 2 1/2 mins and Segwit. In addition it will use Zerocash for added privacy. You can read that up yourself, has been documented a number of times, no need to repeat it here.
What makes it interesting, it is an actively developed and promoted coin, not one of the Chinese clones that can barely write in English on a website template what they want to achieve other than making a fast buck.
The developer Rhett Creighton previously started ZClassic, which by itself is based on ZCash. And this shall become the basis for the new BTCP. There have been two Bitcoin Private Conferences as well in Austin and NYC. So overall this looks quite promising.
Now to the key point, the fork date is set to be on 28 February. On that date you will be allocated BTCP based on your existing Bitcoin and ZClassic balances, which should be in your wallet and you have control of the private keys. Allocation will be in the ratio 1:1. Meaning you get 1 BTCP for each BTC, and you will get 1 BTCP for 1 ZCL (!). Meaning in this exercise ZCL will carry the same weight as BTC, which actually is ~80 times more valuable.
So, if you would like to get most out of it, get some ZCL before end of February. It's traded currently slightly below 100$. Nobody knows where BTCP may land trade-value wise, but I think it could get in the high 2 digit $ range, if not more, given the backing of the fork by BTC and previous results (BCH, BCG).
Happy trading! :)
Looks like the massive sell off just kicked in, 2 days before the blockchain snapshot. So it seems we see another NXT here. Sold 80% to cover costs. Only future can tell now....
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It's now 3 days ahead. Revisit your position, adjust if you think it makes sense, and hey, get ready for whatever comes next :)
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all forks are scams imo just rebels trying to keep the old version for good profits by promoting it
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NYC is not a coin, but thanks little robot :-)
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lol there is actually coin called NYC...Bot is very sharp
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Hey @madmac after reading over your post and going back to mine. I came up with a different strategy which is what I will be doing makes more sense.
So I will keep my ZCL up to the fork and sell before the fork then use the profits from zcl and buy back into btcp before it starts pumping this way I won't end up with plunging zcl after the fork. what do you think?
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