Hey guys! Have you heard of Bitcoin Private? Bitcoin Private is another forked version of Bitcoin announced by Rhett Creighton that utilizes the same bitcoin blockchain but adds privacy features of the ZeroCoin protocol. In addition to the new privacy features, Bitcoin private is also set to utilize Segwit protocol as well as increase the block size from 1mb to 2mb.
Now..Here is where it get's interesting for you, the investor. You are to receive a 1:1 drop of Bitcoin Private (BTCP) for every one Bitcoin (BTC) AS WELL AS for every ZClassic that you own. ZClassic was just two weeks ago trading at less than $5.00 USD. It is now trading at $165 at the time of writing this due to "buying the rumor."
How do you get your free BTCP? Well, this is where it gets a little tricky until more exchanges and wallets announce support for the coin (which has not happened as of writing this.) You have to have your Zclassic coins on the Zclassic wallet provided by them. You can download it at http://zclassic.org/#getstarted.
Until an exchange or wallet announces support for the hard fork coins, that is the only way to guarantee that you will get the 1:1 ratio of BTCP. Rhett Creighton did tweet a link from Github that Ledger will support Zclassic and BTCP, however as of writing this, it is still incomplete and untested, so you would still have to hold your Zclassic on the exchange you bought it or the Zclassic wallet until Ledger support is up and running. Here is the original tweet from Rhett.
https://twitter.com/bitcoinprivate/status/950492696635985920
- bitcoinprivate
Here is an example of how this will work.
Let's say you have 3 BTC and you bought 20 Zclassic. You will now have 23 BTCP.
3 BTC: 3 BTCP
20 Zclassic: 20 BTCP
Now once again, my opinion doesn't matter because I am not a financial advisor, so don't listen to me... BUT it is my opinion that the closer the date comes to the hard fork, as well as more public the information becomes made about holding Zclassic to get free BTCP, the higher Zclassic will go for the short term. Many are predicting $500-$1000USD per Zclassic.
With that said.. It is VERY possible that as soon as the snapshot of the blockchain occurs, many people will be dumping their Zclassic and the price returns back to single digits. If you don't act fast, you could be holding a large bag of a worthless coin that you paid a premium for. If that happens, hopefully the price of all your newly acquired BTCP makes up for it.
If you were to ask for my personal strategy.. I would say to buy a considerable amount of Zclassic in hopes that BTCP sells at a premium as well as hoping that Zclassic "buy the rumor" continues pushing the price higher until the day of the snapshot. You could just sell Zclassic when it arrives at a desired return on investment, netting you the least amount of risk scenario. You could also hold onto it for the snapshot and sell your Zclassic quick enough in hopes of double dipping.
Whichever you do, know this is once again, not financial advice and that none of these things could happen! The hard fork could get cancelled. BTCP might be worth $5 dollars. ZClassic might already be pumped as high as it will go in anticipation to the news. Make your own decisions with your brain and not your emotions!
About me: I go by Bitcoin Blondie and I love health and wealth! I am passionate about anything that makes me feel good in the body, soul and mind as well as financially free!
