This past Saturday, April 28th 2018, Jake Greenbaum a.k.a. “The Crypto King” (@JBTheCryptoKing) announced that ZClassic ($22.69 / 0.00249934 BTC - 5/1/18) will fork once more this coming September. This time, the new coin will be called Anonymous Bitcoin. It is presumed, at least for now, that the ticker symbol for this new anonymous Bitcoin will be BTCA (@BTCA_FORK)
The announcement was aired by CNBC Africa. You can see it here in the following YouTube video by CryptoTrader: (youtu.be/hYDJ-lDYFKw).
Two to three days earlier on April 25th and 26th 2018, Ran NeuNer (@cryptomanran), the CNBC CryptoTrader host and founder of Onchain Capital, tweeted about the upcoming news.
At the time, ZClassic (ZCL) saw its first significant rise in price since the colossal ZCL/BTCP dump. The ZCL price was at $36 on April 26th 2018 up from just under $3 (3/30/18).
If you look back some more, you’ll find the April 21st 2018 Bitcoinist article by Jake The Crypto King in which he mentions ZClassic (ZCL) as one of three coins to pay attention to. That day, the price of ZCL was at $6 even.
A poke or two @HeyRhett follows, to no surprise, given that the previous ZClassic fork into Bitcoin Private
($38.86 / 0.00428032 BTC - 5/1/18) was such a complete disaster. If there ever was the perfect example of ‘buy
the rumor, sell the news’, the Bitcoin Private (BTCP) fork was it.
Back on August 1st 2017, ZClassic (ZCL) was at, wait, just a buck. That’s right. A dollar could buy you one whole ZCL. In November 2017, you could get one ZCL for just under $2.
Over the course of December 2017, the price of Zclassic (ZCL) skyrocketed from $2 to $117 and, from there, down to $81. In January 2018, it went from $100 to $200, settling at around $170.
With all the time Zclassic has to grow before the Bitcoin Private hard Fork, I believe Zclassic could hit $1000-$3000 before the Fork. Really cheap right now a little over $100. ~ Twitter@AnonAltCoins
In February 2018 it dumped all the way down to $75 and jumped back up to just under $200. At that point the ZCL/BTCP snapshot took place and the ZCL price tanked. It went from $200 down to $10 and further down to just $2.86.
New investors were livid! ZCL wallets were disabled on Bittrex and Cryptopia and TradeSatoshi was the only exchange that was willing to support the fork. No one wanted to list BTCP.
Then the Nanex exchange listed BTCP. The initial BTCP price was at $300 on Nanex and at $70 on TradeSatoshi. And then it tanked. In early April 2018 you could buy one BTCP for less than $15. Recently it climbed up to nearly $60, only to dump again. The issue at this point is a market cap of $793,515,350 and a price of $38.86. No moon here. The price limit is $180 under the best of circumstances. $180 was also the average ZCL price paid by hype investors.
When ZCL tweeted this, they were unaware of our fork and were responsibly silencing rumors. It's more than a rumor though. ~ Twitter@BTCA_FORK
Seasoned crypto traders laughed because they’re in the game. They follow the news, buy the dips and sell before the official announcement or the official event takes place. New investors cried because they bought the hype (instead of buying the rumor) and sold when it was all over (instead of selling the news).
Speculation & Rumors
Speculation and rumors followed. @HeyRhett a.k.a. Rhett Creighton and team announced that they will abandon ZClassic and focus solely on developing Bitcoin Private. On one hand, you had the fork investors holding their much lighter bags and desperate to retrieve their losses. On the other you had the ZClassic community who just realized they’d be left high and dry by @HeyRhett and Co.
New questions arose: Could ZClassic be a forking coin? Could it be that its purpose is to be used to create more forks in the near future? Ethereum Private and Litecoin Private, perhaps?
Someone even threw in Bitcoin Anonymous as a joke. Well, the Anonymous Bitcoin is here and it’s forking from ZClassic and it’s not a joke because it has been announced well ahead of time, exchange negotiations are in place and holders profit because unlike ZCL, BTC, BTCP, etc. Anonymous Bitcoin (BTCA) comes with masternodes which means it produces dividends as an incentive to buy and hold and not sell the coin. This, in turn, lowers the amount available for trading thereby ensuring price appreciation. Price appreciation raises trading volumes on exchanges making traders happy. Hodlers gain a doubly with Bitcoin Anonymous and keep holding (or, hodling:)
The Snapshot Date
The ZClassic (ZCL) / Anonymous Bitcoin (BTCA) snapshot is set for 9/10/18. If you own either ZCL or BTC on that date you will receive a 1:1 ratio of BTCA.
According to Cryptovest, @HeyRhett wants to do another Bitcoin fork, this time with Primecoin ($3.79 / 0.00041433 BTC - 5/1/18). Apparently, he tweeted about how Bitcoin Prime is happening and got kicked out of the BTCP dev team as a result. The Primecoin (XPM) price quadrupled in a matter of days.
What’s a Hard Fork and what’s the point?
It should be noted that hard forks happen and that they don’t always produce new coins. The typical purpose of hard forks is to improve on the existing technology of a coin. A Hackermoon article titled "Why Are Hard Forks Required?" explains it some more.
So far, it looks like the Anonymous Bitcoin (BTCA) team is focused on marketing and networking and will hopefully do a good job.
In addition to the ZClassic community there is a new group of ZClassic supporters who call themselves the ZClassic Blue Team (@zclassicblue). Together with the Zclassic Community Volunteer Dev Team (@ZclassicDev) they are looking to ‘resurrect’ ZClassic (ZCL). Coincidentally (or not), both of these ZClassic tech support groups went public late last month which corresponds with the price spike.
Some time ago I discovered something called an airdrop. I had no clue what it was but it had something to do with a fork I was participating in.
If you are a total newbie, or, noob, as the crypto traders call it, you’re probably thinking ‘What is she talking about? Participating in a FORK? And that’s how these people make money? And it’s not even real, hard cash? I’m out of here.’
Let’s start with the definition…
Is this news business model necessary?
According to BusinessInsider.com, only 6 corporations control 90% of the media in the United States today (down from 50 in the 1980's).
Ever seen one of those YouTube videos showing news anchors from different networks say the same things word for word? Did it make you wonder if that’s all that’s happening in the world that’s newsworthy? Or even factual?
Decentralized News Network ICO:
Where to begin?
Start by joining 25,000 of their members on Telegram. You’ll get some free tokens and learn more. Make sure to click the pinned message. It’ll give you a summary of what the team has to offer and where to go from there: Telegram@DNNMediaBounty_Bot.
What’s a bounty?
A bounty is when an ICO (Initial Coin Offering) team invites people to learn about their project. This is typically conducted by the ICO’s marketing team. The marketers get a bounty (a form of compensation, similar to an affiliate commission). You get the airdrop (a small sample of coins). The purpose is to give you an incentive and pique your interest so that you consider learning more about the product or service they are offering and, perhaps, decide to invest your time or money.
Time or money?
If you have extra time or are looking for a new job or even a new career, you may be surprised to discover that there’s an endless supply of freelancer gigs and professional jobs offered by this novel industry — anything from earning a few bucks in your free time to getting a $60,000-$100,000/year full time job.
If you are too busy or lack interest in investing your time, but you happen to be looking for new investment opportunities, you’ll discover that there is no shortage of ICOs with working products and generous discounts for early investors.
Money out of thin air
At this point you may be wondering how it’s possible for people to derive monetary rewards for reading or reviewing articles without income generated through ads.
Firstly, networks like DNN, offer cryptocurrency to investors during ICOs and traders on cryptocurrency exchanges. After the cryptocurrency is listed on one or more exchanges, it is bought and sold in crypto/crypto or crypto/fiat pairs. The buying and selling, in most cases, is a trade of one cryptocurrency for another.
During this process a monetary value of the traded cryptocurrency is established. The market sets the price when buyers and sellers place their buy and sell orders. News, events and announcements also play a role in the valuation and price fluctuation of a given cryptocurrency.
The general rule at the moment is to buy the rumor and sell the news, i.e. buy at the time of the rumor and sell before the newsworthy event takes place. To avoid a dump (mass sell off), ICOs and established cryptocurrency teams offer further incentives in the form of crypto dividends of which there are different types (we’ll get into that some other time).
After the price has been established, the cryptocurrency is than used as payment in exchange for goods and services placed on the market by its blockchain company (or developer team if it’s a community coin).
The users (customers), contributors, employees, contractors, and team members pay with and/or are paid with that cryptocurrency, which further supports the economy of both, the cryptocurrency and the product or service provided through it.
Such currency can then, once again, be traded (peer-to-peer or via exchanges) for other cryptocurrency, fiat money, and/or other goods and services. Alternatively, it can be stored privately in cryptocurrency wallets or on exchanges, for as long as the holder (also known as ‘hodler’) wishes (long term investing, savings, retirement, etc.).
In fiat terms, the same ‘money’ touches as many hands as possible. High circulation of fiat cash has typically been observed during historic economic booms. High circulation creates a more balanced economic equilibrium. It reduces scarcity and creates contentment. It’s overall healthier.
The bottom line is that in this new and booming financial technology industry you can get monetary rewards for just about anything and you can do with it as you please. Of course, once you exchange crypto back into fiat and it’s more than you put in, you have capital gains or at least newly created income which may or may not be taxable, depending on where you pay your taxes.
And that’s it for today. I hope you’ve learned something and I hope you find the idea of a Decentralized News Network that rewards it’s community and is free of annoying ads intriguing.
The other day an interesting ICO caught my attention. It’s called Dating with Benefits (DWB). I wondered what that could be, so I decided to look into it.
What are the benefits?
As it turns out, the benefits in question are somewhat controversial but not uncommon. Wealthy individuals seek out dates who are looking to grow their own wealth, more or less. A form of wealth redistribution, if you will.
Who are the players?
The ICO, which is already established and has a working product, involves multiple parties:
Demand is met by the supply with a touch of romantic intrigue.
Why would something like that require a (blockchain) ledger?
As with any other type of business, precise transaction and liquidity records help improve efficiency and reduce unnecessary expenses.
In this case the blockchain is used as a means of verification.
“Sugar” buyers must purchase BENEFITS before they can start interacting with their potential dates.
“Sugar” providers can see which buyers own the most BENEFITS and direct their attention accordingly.
Verification, identification and privacy are no longer mutually exclusive.
Safety and reliability are further optimized through data encryption and smart contracts on a decentralized blockchain network.
The service also includes optional activity consent contracts, facial recognition, realID, and signup incentives.
Who is this for?
Where is this service available?
Everywhere. It’s a global community marketplace.
Is this a startup?
No. This is an established company with a working product and 650,000 users lead by a popular dating coach with 12 years of experience in the field. The purpose of the ICO is to grow the company, upgrade the technology and continue to expand on a global scale.
Additional plans include partnering with the most successful online dating sites. Expected roll out is set for September 2018.
Maybe a year from now. Learn more by visiting DatingWithBenefits.io and their Bitcointalk.org announcement page.
For those unfamiliar with crypto slang, moon refers to a considerable rise in price within a short amount of time.
Crypto traders are a hungry bunch. Making 4x your money is not considered moon. 10x is. Lambo (making gains big enough to buy a Lamborghini) would be 100x the original investment and beyond.
What if I can’t afford Dating with Benefits (DWB)?
No worries. Verge cryptocurrency (XVG) just partnered up with Mindgeek’s Pornhub. You can buy super cheap memberships and comparatively inexpensive online dates with cam girls and, I think, even buy them gifts with XVG (or tip them, not sure).
XVG is a good example of an almost moon. The price shot up over 4x within 3 weeks. After the partnership announcement it tanked despite having partnered with Tokenpay as well recently.
Tokenpay, a decentralized anonymous payment platform, currently has multiple fascinating partnerships and acquisitions in the works which include banking, gaming, a debit card (with XVG and TPAY), a gift card and more.