Bitcoin has struggled to stay in the $14k range after hitting a high of $20k. Logic might say sell and wait, but those who sell could miss a number of forks.
Cryptocurrencies like Bitcoin can be “forked.” In simple terms, this either creates two versions of a coin or updates one version.
This section includes information on Bitcoin forks and other forks.
To get “free coins” from a Bitcoin fork, you need to have Bitcoin on a platform that supports the fork before the block height at which the fork occurs.
Zclassic plans to fork Bitcoin to create Bitcoin Private (a privacy focused Bitcoin that mashes up the features of Bitcoin Gold and Zcash/Zclassic).
Many Bitcoin forks have occurred or been announced. We know Coinbase/GDAX supports Bitcoin Cash and Bitcoin Gold, but will they support the new forks?
The following Bitcoin forks have been announced (although not every one is confirmed as legit). They are Super Bitcoin, Bitcoin Platinum, Bitcoin Cash Plus, Bitcoin Silver, Bitcoin Uranium, and Bitcoin God.
Despite an official cancellation it seems a group of miners went ahead with Segwit2x anyways. The Bitcoin Segwit2x fork happened at block 494,784. This block occurred early Nov. 17 Pacific Time.
Many, including us, predicted alts would rally after the fork and Bitcoin would pull back. The fork didn’t happen, but the announcement that the fork was cancelled had this effect.
Bitcoin’s SegWit2x fork is canceled. This means a hard fork will not be occurring at at block 494,784 (which was expected Nov. 16).
Despite being somewhat unclear on other forks, there was a press release from Greyscale that discussed Bitcoin Cash distributions for GBTC shareholders.
GBTC could cause major problems by being unclear on what it plans to do with the Bitcoin forks. There is only one answer, HOLD all coins in the trust.