The Bitcoin Private hard fork is coming fast, and the ZCL price may gain more on Bittrex exposure.
In February, ahead of the hard fork, the price of ZClassic (ZCL) may have given anyone a headache. The asset rose to nearly $200, then during the deep market correction went down as low as $59. But interest in the hard fork has lifted the price again above $180 for a while. ZCL then slid toward $175.
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The pre-fork publicity is also intensified, and ZCL has the visibility of Bittrex to lift the price further. But it is unknown what the price would be after the fork.
The Bitcoin Private team, however, has been ready with a white paper of their own, claiming they are the only Bitcoin hard fork with a separate White Paper.
Our whitepaper is ready for release! To our knowledge, this is the first Bitcoin hardfork whitepaper. Read the whitepaper here:https://t.co/qn6mGFNami
— Bitcoin Private (@bitcoinprivate) February 20, 2018
Others from the crypto community believe part of the rationale behind the fork is to pump ZCL and give it more prominence, since it became a failed coin with a price of a few dollars. Indeed, it was the news of the fork that lifted ZCL to triple-digit prices.
But Bitcoin Private already seems to be at work on its new image, inviting users to spread the brand awareness.
Are you interested in helping spread the word of Bitcoin Private across the world? Do you want to build out your very own localized community for Bitcoin Private? Then our ambassador program is for you! Apply now for our second recruitment cycle. https://t.co/2f8YzsawPq
— Bitcoin Private (@bitcoinprivate) February 19, 2018
A few months after Bitcoin forks proliferated, it has become clear that none of those forks would move Bitcoin from its lead position. However, the various offshoot blockchains are charting their own path as altcoins, with varying results.
Some fork-based coins immediately sank into obscurity, and others managed to command relatively stable prices and a community willing to hold onto the asset.
But the claims of Bitcoin Private are quite ambitious. Instead of just challenging Bitcoin, in theory Bitcoin Private could displace several digital assets:
The big picture is that once BTCP is trading it eliminates need for: BCH, LTC, BTG, & ZEC (that’s $35Bln MktCap tied up) for transactional use. BTCP solves what other forks/coins haven’t: consumer brand geared, speed, transaction cost & security. #BitcoinPrivate #BTC $ZCL $BTCP
— Gordon Gecko (@GordonGecko001) February 14, 2018
Yet crypto coin users may be more conservative, and there are one too many technical and logistical difficulties to abandoning already usable assets for a brand-new coin with an untested network, community and team of developers.
And while technical features may be relatively easy to deliver, community adoption is a thing that may take years even in the fast world of crypto coins. The recent price reversal for almost all digital assets saw the robustness of coins with older, more stable communities. In the case of ZCL and Bitcoin Private, the airdrop holds some appeal:
In this market it pays to be a contrarian.
Everybody is saying “sell your $zcl” remember what happened with $nxt
But when $ignis was airdroped, almost nobody was saying that.
That’s why I am thinking that I am going to keep my $zcl through the airdrop.
1 $btcp = 500$ EASY
— Moza (@_M_o_z_a) February 17, 2018
But with many buyers intending to sell and miss the airdrop, ZCL may see a fast correction right before the fork, if those not interested in BTCP simply sell at peak prices.
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