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What Happened to ZClassic? Why Did ZClassic Dump?

Everyone is asking what happened to ZClassic and Bitcoin Private after the fork?

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 A Quick History Of ZClassic

ZClassic Is a fork of a another cryptocurrency (called ZCash) and it was originally created by a computer scientist from MIT name Rhett Creighton who lives in the city of Austin which is located in the state of Texas.

The reason that Rhett created ZClassic was because he did not like the idea that 20% of ZCash mining rewards were given to the private investors who help fund the ZCash project.

 A Quick History Of Bitcoin Private

In 2017, the political in-fighting within the Bitcoin community reached its peak and the community split into 2 major factions each with it’s own version of what they believe Bitcoin should be.

One community wants Bitcoin to be a “store of value” and wants to implement the segwit technology so they can later add a feature called Lightning Network to increase transaction speeds. I will call this version  “Bitcoin Core”.  This is the version of bitcoin that Leon Fu Dot Com™ started with back in 2012.

The other community wants Bitcoin to be an “electronic cash” so they prefer bigger blocks to increase the transaction speed. we will call this version as “Bitcoin Cash”.

By forking ZClassic into Bitcoin Core, Rhett is adding the best known privacy technology on the market right now into Bitcoin Core. The new token would be called “Bitcoin Private” and the official symbol would be BTCP.

The snapshot of the Bitcoin Core blockchain will take place on February 28, 2018 and no one knows how long the snapshot will take due to the high difficulty hashrate of Bitcoin Core. Immediately after the Bitcoin Core snapshot is done, a snapshot of the ZClassic blockchain will take place and when that is completed the Bitcoin Private tokens will be available to everyone holding a Bitcoin Core or ZClassic token.

What Happened To ZClassic ?

Everyone is asking what happened to ZClassic and Bitcoin Private after the fork?

Here is our thoughts & opinions about ZClassic & Bitcoin Private BEFORE & AFTER the fork:

Before) We expected that the price of ZClassic to likely spike before the Bitcoin Private fork because people prefer to buy a lower cost ZClassic token (~$200) in order to get a Bitcoin Private token versus paying over $10,000 for a Bitcoin Core token to get a Bitcoin Private token.

After) After the snapshot & fork around February 28, 2018, we expected some folks will immediately sell their ZClassic while the price is still high. Many people will have this same thought so everyone will scramble to dump their ZClassic tokens before the price crashes.

The disadvantage of selling immediately after the February 28, 2018 snapshot is that the Bitcoin Private network may NOT be stable yet and there is a slim chance I may NOT get any BTCP tokens because I moved my ZClassic tokens too early before the snapshot/fork process was completed and stable.

Conclusion

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