Zclassic to Bitcoin Private fork - Boom or Bust?

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pclausen

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So ZCL has been on a crazy ride this last week or so with the fork coming tomorrow. So far none of the large exchanges have announced support, but a lot of folks, including myself, have been pulling our balances down from the likes of Bittrex to local wallets, to ensure we will be rewarded the BTCP equivalent.

I have been mining ZCL almost exclusively for the last 2 weeks, and it has been painful watching the value drop from a high of around $200, to a low of $67 early this morning. It has recovered to around $95 as I type this.

The next few days should make for an interesting ride and I'll know soon enough if I made a mistake mining and hodl'ing this coin for the last 2 weeks I suppose. With no support announced by either Bittrex or Binance yet, it will be hard to dump either coin if it starts crashing right after the fork.

Anyone else holding ZCL?
 
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So am I reading this right that to get the fork with BTC you need to export your private keys to some desktop wallet the Bitcoin private people made? That sounds mildly terrifying.
 
I've been mining it for a few days and I have a tiny amount over on tradesatoshi who is participating in the fork,
 
illram said:
So am I reading this right that to get the fork with BTC you need to export your private keys to some desktop wallet the Bitcoin private people made? That sounds mildly terrifying.
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Pretty much, and it's likely that you don't have enough btc to make it worth your time. If you're lucky your exchange will credit you the btcp if they support it, but they also might just keep all the btcp for themselves.

Personally I got into zcl in December when it was a good thing to mine with my 1080 ti, and just kept accumulating it since then. I did actually buy ~2.6 with $300 when it was like $115. I've got 4.0 in my own wallet, and I have been mining on the donation pool all month with 0.67 mined for them so far, so that should get me about 1.4 btcp to add to my 4.0 since the donation pool shuts down in 11 hours.

Hoping btcp does something interesting this year, I'm going to move on to something like nicehash to get regular payments that I can cash out, this shit is too volatile for my stress levels lol.
 
TripleAgent77 said:
Same here. Bought two, mined a bit over three. Hoping it turns out like Bitcoin Cash. HODL.
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Everyone and their mother thinks ZCL is going to mean free EZ cash, which means it won't be. My friends on different group chats and texts haven't STFU about this for 2 weeks- "got my ZCL bro, now just waiting for my free munnee". Facepalm.

When too many people are doing the same thing in crypto, run. It almost never turns out as expected.

Re: Bitcoin Cash only turned out into anything because Roger Ver, Jihan Wu and his Bitmain Miners union propped it up. BCH is going nowhere longterm, it's never going to overtake BTC.
 
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Yup I'm gonna walk away from this for a while. Nothing else really worth mining right now, and zcl and btcp are completely dead. With bittrex outright refusing to allow btcp on their market, the vast majority of the crypto world will never give two shits. Would be nice if btcp does something, but I'm feeling like the devs took that donation pool money and ran. How could they not get bittrex with 3 million usd?
 
arnemetis said:
How could they not get bittrex with 3 million usd?
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BTCP didn't pass the smell test. This was sketchy from the beginning, because a legit rebrand with no profit motive could've just been handled with a coin swap.

Remember kids: Don't FOMO into forks. And if you DO want to get excited about a fork and airdrop, make sure its a freaking Top10 coin - not #131.
 
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odditory said:
BTCP didn't pass the smell test. This was sketchy from the beginning, because a legit rebrand with no profit motive could've just been handled with a coin swap.

Remember kids: Don't FOMO into forks.
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Yeah this was my first foray into mining and crypto, besides burstcoin which I'm just accumulating. Zclassic was the coin of choice to mine when I started in December, and I got carried away by it. Lesson learned, will just stick to things like nicehash I think when I look at it again.
 
arnemetis said:
Yeah this was my first foray into mining and crypto, besides burstcoin which I'm just accumulating. Zclassic was the coin of choice to mine when I started in December, and I got carried away by it. Lesson learned, will just stick to things like nicehash I think when I look at it again.
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Well not all is lost, if you didn't panic sell your ZCL then there's always a chance BTCP has some insane rally in weeks or months from now. Right now it's only on "the exchange of last resort" aka Cryptopia, but who knows. Bittrex didn't want to list BTG initially, then (if I recall) a month and probably a big bribe later, voila it was listed.

If it were me, I'd just sit on the coins for 1-2 months.
 
odditory said:
Well not all is lost, if you didn't panic sell your ZCL then there's always a chance BTCP has some insane rally in weeks or months from now. Right now it's only on "the exchange of last resort" aka Cryptopia, but who knows. Bittrex didn't want to list BTG initially, then (if I recall) a month and probably a big bribe later, voila it was listed.

If it were me, I'd just sit on the coins for 1-2 months.
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Yeah I haven't sold anything, funny thing is I only have a cryptopia account anyway. It was pretty smooth buying my zcl back in January when Bittrex was fully closed to new accounts, but yeah they aren't the greatest. If btcp ever actually becomes a coin I should be getting 1.4 from the donation pool to add to my 4 zcl so I'll check out the wallet then. I'm only in $300 and the electricity of my rig running for a few months, which I can live with losing.
 
I managed to mine 18 ZCL between the 16th and early this morning with my 40 kSol/S. Right after the fork, I initiated a transfer from my local wallet to Cryptopia. I'm at 7/10 confirmations still.

Oh well, 2 weeks of mining effort with very little to show for it. I'll HODL both ZCL and BTCP in the hope they may do something down the road.

I'm going back to just pointing my rigs to the NH Equihash pool and cash out daily at 0% to Coinbase I think. Steady $220/day right now and no stress. Once BCT shows signs of a steady rise again, I'll switch to HODL'ing BTC.
 
illram said:
So am I reading this right that to get the fork with BTC you need to export your private keys to some desktop wallet the Bitcoin private people made? That sounds mildly terrifying.
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That is exactly why LCC has been labeled a scam.
 
oblox said:
No one should be importing keys into alt coin wallets without first sweeping the original coins to a new wallet.
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This is the correct answer right here. Assume that old address is no longer usable once a fork happens that you plan on claiming.
 
Got my BTCP, just waiting for exchange support to see what the price will turn out to be.
 
I need at least $68.xx per BTCP to break even. Might just hold it for a while and see what happens.
 
wait wasn't zclassic a mostly abandoned fork anyway? now thats forked? I might have to pull my old zencash wallet out of offline storage and restore it to get the forks.
 
Probably missed out now since it has been pumped and dumped already. but yea, was like $2 for longest time and then idea for bitcoin private fork came at bitcoin mania peak mid dec. so price rised to over $200, now down to $7 and falling. Also I think you had to have your zcl in 1 of 2 wallets for btcp fork.
 
I never had any ZCL going into this insanity.
But bought and mined when the price bottomed.
Shot back up 65%, and I sold off about a third.
I'm still sitting on a few coins yet.
 
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