This past Saturday, April 28th 2018, Jake Greenbaum a.k.a. “The Crypto King” (@JBTheCryptoKing) announced that ZClassic ($22.69 / 0.00249934 BTC – 5/1/18) will fork once more this coming September. This time, the new coin will be called Anonymous Bitcoin. It is presumed, at least for now, that the ticker symbol for this new anonymous Bitcoin will be BTCA (@BTCA_FORK).
The announcement was aired by CNBC Africa. You can see it here in the following YouTube video by CryptoTrader (https://youtu.be/hYDJ-lDYFKw):
Two to three days earlier on April 25th and 26th 2018, Ran NeuNer (@cryptomanran), the CNBC CryptoTrader host and founder of Onchain Capital, tweeted about the upcoming news.
At the time, ZClassic (ZCL) saw its first significant rise in price since the colossal ZCL/BTCP dump. The ZCL price was at $36 on April 26th 2018 up from just under $3 (3/30/18).
If you look back some more, you’ll find the April 21st 2018 Bitcoinist article by Jake The Crypto King in which he mentions ZClassic (ZCL) as one of three coins to pay attention to. That day, the price of ZCL was at $6 even.
A poke or two @HeyRhett follows, to no surprise, given that the previous ZClassic fork into Bitcoin Private ($38.86 / 0.00428032 BTC – 5/1/18) was such a complete disaster. If there ever was the perfect example of ‘buy the rumor, sell the news’, the Bitcoin Private (BTCP) fork was it.
Back on August 1st 2017, ZClassic (ZCL) was at, wait, just a buck. That’s right. A dollar could buy you one whole ZCL. In November 2017, you could get one ZCL for just under $2.
Over the course of December 2017, the price of Zclassic (ZCL) skyrocketed from $2 to $117 and, from there, down to $81. In January 2018, it went from $100 to $200, settling at around $170.
With all the time Zclassic has to grow before the Bitcoin Private hard Fork, I believe Zclassic could hit $1000-$3000 before the Fork. Really cheap right now a little over $100 #Bitcoin #BitcoinPrivate #Zclassic #ZCL #BTCP #BTC $ZCL $BTC $BTCP
— Boss of Privacy Coins [PLUTO] (@AnonAltCoins) January 22, 2018
In February 2018 it dumped all the way down to $75 and jumped back up to just under $200. At that point the ZCL/BTCP snapshot took place and the ZCL price tanked. It went from $200 down to $10 and further down to just $2.86.
New investors were livid! ZCL wallets were disabled on Bittrex and Cryptopia and TradeSatoshi was the only exchange that was willing to support the fork. No one wanted to list BTCP.
Then the Nanex exchange listed BTCP. The initial BTCP price was at $300 on Nanex and at $70 on TradeSatoshi. And then it tanked. In early April 2018 you could buy one BTCP for less than $15. Recently it climbed up to nearly $60, only to dump again. The issue at this point is a market cap of $793,515,350 and a price of $38.86. No moon here. The price limit is $180 under the best of circumstances. $180 was also the average ZCL price paid by hype investors.
As said in March, all work has stopped on #Zclassic. Nothing about this has changed. Any proposed fork you may hear about does not have widespread consensus. Please use caution before participating in any fork that is promising guaranteed returns or may sound too good to be true.
— Zclassic (@ZclassicCoin) April 27, 2018
Seasoned crypto traders laughed because they’re in the game. They follow the news, buy the dips and sell before the official announcement or the official event takes place. New investors cried because they bought the hype (instead of buying the rumor) and sold when it was all over (instead of selling the news).
Speculation & Rumors
Speculation and rumors followed. @HeyRhett a.k.a. Rhett Creighton and team announced that they will abandon ZClassic and focus solely on developing Bitcoin Private. On one hand, you had the fork investors holding their much lighter bags and desperate to retrieve their losses. On the other you had the ZClassic community who just realized they’d been left high and dry by @HeyRhett and Co.
New questions arose: Could ZClassic be a forking coin? Could it be that its purpose is to be used to create more forks in the near future? Ethereum Private and Litecoin Private, perhaps?
Bitcoin with Dividends
Anonymous Bitcoin looks to advance the technology of both Bitcoin and ZClassic blockchains through a co-fork of both…
Someone even threw in Bitcoin Anonymous as a joke. Well, the Anonymous Bitcoin is here and it’s forking from ZClassic and it’s not a joke because it has been announced well ahead of time, exchange negotiations are in place and holders profit because unlike ZCL, BTC, BTCP, etc. Anonymous Bitcoin (BTCA) comes with masternodes which means it produces dividends as an incentive to buy and hold and not sell the coin. This, in turn, lowers the amount available for trading thereby ensuring price appreciation. Price appreciation raises trading volumes on exchanges making traders happy. Hodlers gain a doubly with Bitcoin Anonymous and keep holding (or, hodling:)
The Snapshot Date
The ZClassic (ZCL) / Anonymous Bitcoin (BTCA) snapshot is set for 9/10/18. If you own either ZCL or BTC on that date you will receive a 1:1 ratio of BTCA.
#HeyRhett bu adamın el atacağı hiçbir işe yatırım yapmayın bundan sonra kendisi 2018'in yeni dolandırıcısı,jet fadılı,tosunu,titan kenanı,adam bir coini bırakıp ötekisine geçiyor şimdi sıra #BitcoinPrime'da bu millet seni zengin etmeyecek.#scammerAlert #PumpAndDump
— onur karakaya (@briqhtlord) April 30, 2018
According to Cryptovest, @HeyRhett wants to do another Bitcoin fork, this time with Primecoin ($3.79 / 0.00041433 BTC – 5/1/18). Apparently, he tweeted about how Bitcoin Prime is happening and got kicked out of the BTCP dev team as a result. The Primecoin (XPM) price quadrupled in a matter of days.
What’s a Hard Fork and what’s the point?
It should be noted that hard forks happen and that they don’t always produce new coins. The typical purpose of hard forks is to improve on the existing technology of a coin. The following article explains it some more: https://hackernoon.com/why-are-hard-forks-required-cdffbb6bd6b9
It looks like the Anonymous Bitcoin (BTCA) team are focused on marketing and networking and hopefully will do a good job.
In addition to the ZClassic community there is a new group of ZClassic supporters who call themselves the ZClassic Blue Team (@zclassicblue). Together with the Zclassic Community Volunteer Dev Team (@ZclassicDev) they are looking to ‘resurrect’ ZClassic (ZCL). Coincidentally (or not), both of these ZClassic tech support groups went public late last month which corresponds with the price spike.