Bitcore Analysis ($BTX)
The following is not financial advice.
Welcome to back The Scoop!
This is the next post at a place where we share analysis and opinions for interesting coins, tokens and pure gems in the vast landscape of the blockchain world. There's so many coins out there, but not a lot of free information (looking at you, paid groups) and analysis on them. The Scoop aims to change that by sharing and improving the data available for a given coin.
What is Bitcore?
It's a new coin made by a hybrid fork of Bitcoin and created by the BitSend (BSD) devs. And if you like airdrops... legit airdrops... keep reading. If you have BTC, you can claim BTX. If you have BTX, you can easily register for airdrops that are currently going on every week. Free money for having money, can't beat that. And you don't need to leave your wallet open or use any computing power like in staking, you just need a BTX balance.
Quick Technicals
Algo: Timetravel 10 (GPU) / POW
Block time: 2.5 minutes
Blocksize: 10MB (20MB Segwit)
Additionals: Segwit, Bloom
Where's the wallet?
https://github.com/LIMXTEC/BitCore/releases
BTX FAQ:
https://bitcore.cc/faq.php
How many of them are they?
21m (or ~16m) just like Bitcoin, but ~2m in circulation.
Who's the team?
Chris and Jon from BitSend are the core devs as well as Ivo, the head PM.
How is Bitcore different?
It's an airdrop that isn't the "gogogogo, grab, oh no missed it, almost" kind of deal. Fun system to participate in and tech seems pretty solid. Maybe it will succeed, maybe it won't, but it's hard to ignore the advantages of participating and we'll have to see what happens, what new projects they use it for and the use cases it ends up lending itself to.
Pros
- fantastic airdrops
- dedicated team
- cool distribution
- decent tech
Cons
- adoption
- specific use cases
Where is it traded?
It's on a few mid-tier exchanges today with Bit-Z and Cryptopia giving it the most volume:
https://coinmarketcap.com/currencies/bitcore/#markets
The Final
Based on the FA, BTX looks like a low to medium risk with high reward potential if they continue to deliver and catch on. Picking it up under 130k sats would be bargain or under a thirty to forty dollars would be an upper entry while still expecting solid gains.
And that's your scoop!