*Update 23 Feb* Bittrex, in all likelihood, will support ZCL-> BitcoinPrivate fork

in #cryptocurrency7 years ago (edited)

****Scroll down for 23 Feb update****

I'll start by saying I bought a decent amount of #ZCL between 1 January - 4 January, so I definitely hope this is the case. But when making portfolio decisions I try my best to be unbiased/unemotional and just look at the evidence. The evidence in this case leads me to believe Bittrex will support the #BTCP fork, at least from the ZCL side (and likely the #BTC side as well).

Here's the evidence:

21 Oct 2017 - Bittrex supports BTC -> #BTG fork

20180222_042913.jpg

BitcoinGold was widely percieved as a "scam" fork. They hadn't announced who the devs were, didn't have a fully formed consensus code, had no mainnet launch date and hadn't implemented replay protection.

Still, two days before the snapshot #Bittrex announced support.

BTCP has replay protection, public devs, finished/tested code, a mainnet launch date, replay protection, even a whitepaper (the first BTC fork to have a whitepaper prior to the fork). One thing BTCP is not is a scam coin.

12 May 2017 - Bittrex supports ZCL -> #ZEN fork

20180222_044418.jpg

Bittrex has already previously supported a ZCL fork.

Then there's this...

I wasn't able to confirm it myself but many sources on Twitter and in Telegram said the Bittrex ZCL wallet was in maintenance for about an hour around 1am EST this morning (22 Feb). Here's a screenshot a user provided me:

IMG_20180222_044901_837.jpg

So I think when deciding whether an exchange will support a fork you have to look at their tendencies in the past. Knowing what we know about their prior support for both BTC and ZCL forks and the possibility that they conducted maintenance on their ZCL wallet this morning I have to believe the announcement is imminent.

Remember, the BTG fork wasn't announced until two days prior, so there's still plenty of time (before 28 Feb snapshots). But if this is one you're considering getting in on now might be the time.

Good luck.


*****UPDATE 23 FEB*****

It just gets weirder...

Last night Bittrex tweeted this:

20180223_040649.jpg

And here's the policy they're talking about...

Screenshot_20180223-040722.jpg

Sooo... A couple things

They'll share "advance notice" if they're participating and no notice they're not participating. Uhhh... How much advance notice? Two days like BTG? Or six days like ZCL -> ZEN?? How about you just fucking tell us if you're supporting the fork or not!?

You could do this one of two ways...

a. "We're working hard to have support in place by the snapshot on 28 Feb. In the event we aren't able to support we'll announce at least 24 hours ahead of snapshot so users have ample time to withdraw ZCL to a supporting wallet or exchange"

b. "Bittrex will not be supporting the ZCL -> BTCP fork. Please use these next days to transfer your ZCL to a supporting wallet or exchange."

The tweet sounds like NO fork support but then you read the linked statement and it says:

Bittrex will also consider some of the following criteria:
-The existence of a development team and if they have contacted Bittrex
-Whether the coin has public developers
-Whether the coin has a Testnet
-Whether there is availability of public code
-Whether there is a premine

#BTCP satisfies all these criteria: it has a public dev team, public code, a testnet (and surely they've contacted Bittrex). The pre-mine should be satisfied either way they want it. Technically there's no pre-mine of BTCP (which exchanges prefer because it's a more fair way of distribution and less prone to price manipulation) but the team is essentially pre-mining ZCL with the volunteer mining program, so they do get the benefits of a pre-mine, namely they have funds for exchange listings, marketing, etc.

So what in the actual fuck is the deal Bittrex... Stop speaking in riddles and just tell us what's up. Please.

Updates as #ZCLgate develops


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Disclaimer:
This isn't financial advice, I'm just some guy, blah, blah, blah

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Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
BTCBitcoin10110.600$-0.32%-0.56%
BTGBitcoin Gold121.078$1.76%-13.29%
ZCLZClassic137.363$-4.75%-15.1%
ZENZenCash35.728$8.97%-19.89%