Bitcoin Diamond’s price is surprisingly high, profiting with a hard fork - Japanese article translated to english

in cryptocurrency •  2 years ago 

Originally posted on: November 25, 2017


Yesterday Bitcoin Diamond (BCD) was distributed on the Binance exchange and trading already started.

The price is 1 BCD = 0.0075 - 0.009 BTC (about 7000 - 8000 yen). The price was around 1 BCD = 0.0075 - 0.009 BTC (about 7000 - 8000 JPY or 70-80 USD).

After this hard fork, 10 BCD was distributed per 1 BTC, so it seems that if someone had BTC on this exchange and sold, they gained considerable profits.

If you stored 1 BTC, you got around 0.08 BTC extra, 0.8 BTC for 10 BTC, 8BTC for 100BTC and so on. Modern alchemy is not ordinary at all.

In addition to the fact that only 40% of the return could have already been obtained with Bitcoin Cash alone, Bitcoin Gold adds another 4% and Bitcoin Diamond another 8%.
Total profits from hard forks from August to today are up 52%+. (Magic!)

This time it were the people who kept Bitcoin on the Binance exchange that gained the most.
Since I did not keep coins on the exchange, I missed the opportunity again (* _ *).

I did not expect it to have such a high price at the time I wrote an article about the exchanges where it will be distributed.

In Japan, only BTC BOX, a virtual currency exchange platform issued a statement that they will distribute Bitcoin Diamond.

Statements from other exchanges like Coincheck, Zaif or bitflyer did not come out and they did not announce support for Bitcoin Gold, Segwit 2x either.

GMO coin said at the time of BTG "I will not distribute it, so if you want it, please move the BTC to another exchange" you announced.
GMO coin at the time of BTG fork announced “I will not distribute it, so if you want it, please move your BTC to another exchange”.

Looking at the Twitter feed of another exchange’s CEO, they seem to be exhaused from the increase of in-house work after every hard fork, so how long will we go like this?
Some still has’nt distributed Bitcoin Gold and transactions have not been made, so it seems that maybe in a month or even until the next year until this issue is dealt with.

Bitcoin will continue with the hard fork festival

Bitcoin is going to have many hard forks in the future.

Upcoming Bitcoin hard fork schedule:

  • December 15th: Super Bitcoin (@ block 498888)
  • December 23-24th: Bitcoin Platinum (@ block 500000)
  • December 31st: Bitcoin Uranium (block unknown)
  • Around January 2nd: Bitcoin Cash Plus (block 501407)
  • Date and time unknown: Bitcoin Silver (block unknown)

The schedule is calculated assuming that the block height as of today will proceed with an average of 10 minutes per block.

Perhaps most of the virtual currency exchanges are disgusted and will not respond to the increased number of hard forks.
If you want a hard forked coin, it may be added to the Binance exchange, they are flexible and they promptly add new coins.

Even hitBTC, which added support for Bitcoin Gold quickly, they did not add Bitcoin Diamond.

If you already have Bitcoin, you can make more money with hard forks.

Someday, I think this will all come to an end, the number of exchanges that add support of these coins are getting smaller, still the market capitalization is still not as large as the market’s future growth expectation, so I wonder if there is a need to worry or think too much about it.

The hard fork festival will likely to be over soon. [translator's note: hopefully]

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What's up with all this bitcoins forks? it all seems very strange...