I have my reasons.
First off, I am not a “crypto dude” from way back, but I’m wrapping my head around some of this stuff. That said, this is just a guy sharing his opinion and it is not investment advice of any sort.
MY FIRST HARDFORK
On August 1, 2017 when the Bitcoin Cash (BCC/BCH) hardfork happened, I was holding some BTC. Then, out of seemingly nowhere, I had just as much Bitcoin Cash. It was like instant free money, and I learned my lesson. For one, if I would have had more BTC before the fork date, I would have gotten more Bitcoin Cash when the fork occurred. When a single cryptocurrency splits in two, I think it’s a great opportunity.
BITCOIN PRIVATE : THE “EASY WAY"
On February 28, 2018 at 5:00pm UTC there will be a hardfork where Bitcoin Private will be released. The new BTCP coins will be distributed on a 1:1 basis to holders of BTC and ZCL, which is where things get interesting. At the moment that I type this, BTC is round $10K USD for the most part. ZCL is still around $125 USD or so. So, if you wanted to get one BTCP and had no BTC or ZCL right now, all you would have to do is purchase either one BTC or one ZCL.
Personally, I’ve done it the “easy way” and bought some extra ZCL in preparation for the fork. If I could have gotten more Bitcoin Cash at that fork I would have, so I want to make sure not to miss out on this one. Also, since BTCP will be more anonymous and able to support a larger block size than BTC, I think we will see some interest in it and a great potential for it as an investment for 2018, whether short term or long term.
WHAT I EXPECT
First off, I expect ZCL to increase in value over the next three days as more people pick some up before the fork. Then, once the BTCP wallets are active, I expect a major dump of ZCL by some holders and then a rebuy at the bottom, before a rebound and stabilization.
As for the BTCP itself, another BTC may not really be needed, but it certainly does have brand recognition over other cryptos. Private coins always have a draw, and since the payments will be published on a public blockchain while the sender and recipient (along with other transactional metadata) remain unidentifiable, it’ll become a go to coin for many people. Where it will actually end up as far as value remains a mystery, but if it is worth anything and you get some for free, that’s an obvious increase in value and a bonus!
Again, I’m just sharing my own personal thoughts about this, so don’t take this as any sort of advice. Do your own research on any potential investment and never risk anything that you are not prepared to lose.
Until next time…
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