Bitcoin used to be a rarity. Then it became the norm. And then it became a meme, with anyone and everyone bifurcating bitcoins weekly. Now there have been a total of 69 bitcoin forks plus another 18 altcoin forks. The holders of bitcoin, monero, ethereum and litecoin can claim almost 80 additional coins for free. If it's worth your time to do it, however, it's another matter.
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Fork all things
Bitcoin has bifurcated almost 70 times It is known that since bitcoin was launched in cash, the quality and value of the subsequent forks have deteriorated. What is not so well known is the number of forks that there have been. The likes of Bitcoin Coral, Bitcoin Sudo and Bitcoin Star are not well-known names. Nor will they ever be. Like most of the bitcoin forks found in the exhaustive list of Forkdrop.io, these currencies do not have swap lists.
For anyone with a passing interest in the holders, and who is considering claiming some of these coins, Forkdrop.io's resources include guidelines for claiming them and sections on passive and active air releases. For those who are not particularly tech-savvy, there are sites that will help you claim your free coins in exchange for a cut. Whether these coins are worth claiming, with or without a commission attached, is debatable.
Bitcoin has now bifurcated almost 70 times
The only bitcoin forks that are currently interchangeable
How much are your forked coins worth?
Of the 69 bitcoin forks to date, only 10 are interchangeable in exchanges. Combined, these have a value of $ 941, or around 0.12 BTC. Remove the Bitcoin money from the issue and you have only $ 206 or 0.026 BTC left. Unless you are sitting in a treasure trove of bitcoins, claiming these forked coins simply is not worth it. And for those who are blessed with an abundant supply of BTC, move them and risk exposing their private key on a third-party site, claiming an additional 2.5% of BTC simply is not worth it.
When it comes to altcoins, the returns are just as poor. Forkdrop.io lists 18 altcoin forks, although many more have been forked by cloning the code and then adding their own spin. Verge, for example, is a fork of dogecoin, but was never available on a 1: 1 basis for dogecoinders. Forkdrop's altcoin section includes six ethereum forks, three litecoin forks and six monkeys forks plus a couple of others. Only three of these forks are interchangeable, with a combined value of only $ 20. You do not even need to drill the numbers to appreciate that claiming bifurcated altcoins is a meaningless exercise, unless they are automatically distributed by an exchange, preventing the holders from having that move a muscle.
Bitcoin has now bifurcated almost 70 times
Forkgen makes it easy for anyone holding bitcoins
Free coins, but at what price?
Bifurcation bitcoin is easy. Tools like Forkgen will do all the work for you. Using the mantra "Fork until you do it", they guide the noobs through a simple process that concludes by pressing the blue button marked "Generate new Altcoin". As the developers of such forks as Bitcoin Minor, Bitcoin King and Bitcoin Boy are discovering, however, after branching off from BTC, the hard work is just beginning. As Jimmy Song put it:
Bitcoin will remain different because, unlike centralized currencies, it is market driven, immutable and unaffordable. These are the properties of a large store of value and this gives Bitcoin a utility that no other token has.
A currency that does not appear in Forkdrop is Bitcoin Private. It was a little different from the rest in that it bifurcated simultaneously from zclassic and bitcoin. BTCP started trading at around $ 80, but was reduced four times in less than a month. It seems that no matter what you mock, how or why, the fact is that everything, from bitcoin cash, has been destined to irrelevance. The forked coins can be fun, but according to the evidence so far, it's not worth claiming.
Have you bothered to claim any of the bifurcated coins available to you?