Here we go again.
Another coming soon fork named Bitcoin Private (BTCP)
is about to enter the ring and try to get his piece of the market.
Img Source
This time it is not just a fork of Bitcoin, it is (the ugly?) child of Bitcoin and ZClassic. According to their website the devs try to enhance Bitcoin with the zk-snarks privacy technology used by ZClassic. The buzzwords are: private, decentralized, fast, open source, community driven, and a fair start. I am not sure about their intentions and the reason for co-forking Bitcoin and ZClassic at the same time. All Bitcoin and ZClassic holders will be credited BTCP in a 1:1 ratio.
Looking at the price of ZClassic which is around 100 $ right now,
this might be a slick move to pump ZCL.
Or a new successful coin? We'll see.
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Heard about this on SteemSpeak and it sounded promising removing the 20% going to the founders. But then the creators started talking about adding a treasury for Bitcoin Private which is basically the same as what they removed in Zclassic which got me on the fence...
Nice idea, will it be successful? Probably not. So many forks these days and the zk-snarks method is not without it's faults. Also, it's not exactly future proof when it comes to quantum computing, there could be future risks if not resolved. We'll see how it plays out but I wouldn't hold my breath on this one. If nothing else, nice little kick back possibly for the ZClassic holders.
Nowadays it's just another fork. Forking Bitcoin seems like a marketing thing to me, maybe it sells better if it is called Bitcoin something something. I didn't go into details, so I am not sure about the differences between ZClassic and the new coin and the necessity of adding Bitcoin DNA to it.
It’s like a new trend. I don’t get why those big shots don’t seem to realize they’re harming their reputation and - even more important - their credibility...
It certainly is. It seems everybody tries to generate free money out of thin air. Make a website, make an announcement, fork something, write bitcoin on it (and don't forget to sell).
lol when will they stop?!? :)
Never, until it gets fractal :D
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Dear okkiedot, thanks for bringing this up! Please also look at my post with an overview of all current and upcoming Bitcoin forks, including BTCP. I hope you find it interesting! https://steemit.com/forks/@smallstepschange/651qu6-bitcoin-forks-latest-overview-forking-dates-block-heights-distribution-ratios-official-homepages