Bitcoin Private (BTCP) is a forthcoming crytocurrency that will be created in a way that hasn't been done before. It will co-fork ZClassic (ZCL) and Bitcoin (BTC) on a date that is yet to be determined. Another layer of interest added to the mix is that ZClassic is itself a fork of Zcash (ZEC).
News of this unique hard fork sent the ZClassic market into a frenzy, with the price rising from $2 to as high as $235. This could be explained by the expectation that Bitcoin Private may trade at a high price upon release, as have previous forks, Bitcoin Cash and Bitcoin Gold.
The concept behind Bitcoin Private is a very clever indeed, as it will benefit from aspects of both of the coins from which it forks. It will have the privacy features of ZClassic and the recognition and branding power of the word 'Bitcoin'.
The naming aspect itself could give Bitcoin Private the edge over competing privacy focused coins, such as Monero and Zcash. While almost everyone has heard of Bitcoin, the other names would register with very few people outside of the cryptocurrency community. The familiarity of the Bitcoin name helps to establish trust, and this goes a long way towards promoting acceptance and adoption.
So how can you get your hands on some Bitcoin Private when it becomes available? Well, the best way is to own some Bitcoin and/or ZClassic. If you possess either or both of these and control your private keys at the time of the snapshot, just prior to the fork, you will receive an equivalent quantity of Bitcoin Private for free. For example, if you have 2 ZClassic and 0.5 Bitcoin you will get 2.5 Bitcoin Private.
For more information about Bitcoin Private, visit their website btcprivate.org and official Twitter page @bitcoinprivate.
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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