Bitcoin and Zclassic Plans Fork Called Bitcoin Private
Zclassic (ZCL) plans to fork Bitcoin (BTC) to create Bitcoin Private (BTCP). Holders of both Zclassic and Bitcoin will qualify for the fork. The snapshot date is February 28th, 2018.
To get BTCP you need to hold Zclassic and/or Bitcoin in a wallet or exchange that supports the fork when a still undefined Bitcoin block height occurs on February 28th, 2018. The Main Net will go online approximately two days after the snapshot, and at that point people will begin being able to claim Bitcoin Private coins.
What is Bitcoin Private? Bitcoin Private is an upcoming fork of Bitcoin meant to create a privacy-focused Bitcoin that mashes up the features of Bitcoin Gold and Zcash/Zclassic.
Who gets access to the fork? The plan is for Zclassic holders and Bitcoin Holders to each get Bitcoin Private ( BTCP) in a 1:1 ratio. In other words, you get one BTCP for every Bitcoin or Zclassic you hold in a wallet where you control your private keys or on a wallet that will embrace the fork like Coinomi.
Supply:
There will be 19,700,000 BTCP (the circulating supply of BTC + ZCL).
Snapshot date: The fork occurs February 28th, 2018 according to the official site, however no snapshot block height has been announced yet.
Fork Date & Main Net Launch: Approximately 2 days after the snapshot occurs.
Please note that you’ll likely need to hold Zclassic in a Zclassic wallet to be privy to this, thus buying and holding on Bittrex, for example, many not be enough (there is no way to know unless the platform you are holding Zclassic or Bitcoin on makes an announcement).
See the Official Zclassic Twitter and Zclassic Dev Rhett Creighton’s Official Twitter
Learn more about the upcoming Bitcoin forks and how to qualify for them.
UPDATE:
The Developers of BTCP pointed out that the circulating supply of ZCL is 3 million (not 1.8 million). The original supply of BTCP was said to be 18,500,000, however this was later corrected by the developers and confirmed to be 19,700,000. See Official statement about updated circulating supply of ZClassic. You can verify this on the official Zlcassic Twitter noted above.
NOTE:
BTCP will have a low inflation rate. The aim is to stay below 21 million BTCP once all coins are in circulation.
NOTE:
With all forks, we can never be 100% sure that the fork will occur until the snapshot is taken, the chain is live, and everything is confirmed as stable and workable. This fork is no different. Sometimes we get a Segwit2x (a fork that didn’t happen or didn’t happen as planned); sometimes we get a Bitcoin Cash (a fork that did happen has planned and ended up being a valuable asset). One must be prepared for both the best and worst in the crypto space.
