GBTC Trust Announces Plans For Bitcoin Cash Fork
Despite being somewhat unclear on other forks, there was a press release from Greyscale that discussed Bitcoin Cash distributions for GBTC shareholders.
Cryptocurrency Forks and Airdrops
Cryptocurrencies like Bitcoin can be “forked.” In simple terms, this either creates two versions of a coin or updates one version.
Sometimes new coins are created this way.
In other cases coins can be “airdropped” to people who hold existing coins for a myriad of reasons.
This section includes information on cryptocurrency forks and airdrops.
GBTC Isn’t Doing Itself a Favor Being Unclear on the Forks
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.
The Risks and Rewards of “Being in BitCoin For the Fork”
At block 494,784 (estimated to occur Nov. 16) Bitcoin will fork in two. Bitcoin holders will get 1 Bitcoin Segwit2x for every Bitcoin they own. That is a big reward, but there are risks.
When is the Segwit2x Fork?
The Bitcoin Segwit2x fork happened at block 494,784. This block occurred on Nov. 17. Anyone with Bitcoin before the block now has equal parts Segwit2x.
Block Number Matters With Crypto Forks
The block number (AKA block height) tends to matter more than the date with crypto forks. In many cases a snapshot for a fork will happen at a block height, and the date is secondary.
Will Altcoins See a Boom After the Fork?
We ask the question, “will Altcoins see a boom after the Bitcoin Gold hard fork; or, not.” That is, “should we be eyeing alts, riding Bitcoin, or sitting back and waiting?”
Coinbase Says Bitcoin Gold Fork Already Occured
Coinbase has come out and announced the Bitcoin Gold fork has already taken place! If that is true, it means the time to get free Bitcoin Gold by holding Bitcoin has already passed.
Bitcoin Gold Fork Means “Free Coins”… But How Exactly to Get them is Unclear
Bitcoin Gold “hard fork” means “free coins” for holders of Bitcoin, but it is unclear if the snapshot date is Oct. 25, block 491,407, or something else.
Understanding Hard Forks in Cryptocurrency
A hard fork is when a single cryptocurrency splits in two. It occurs when a cryptocurrency’s existing code is changed, resulting in both an old and new version.