Bitcoin: Are You Forking Kidding Me?
December has been a wild month for Bitcoin with massive price gains, and it’s only going to get even crazier.
Several new hard forks are due to be implemented throughout the next few weeks.
Is it out of pure greed, or are these proposed forks truly trying to solve Bitcoin‘s woes?
Bitcoin Platinum (BTP)
The codebase for Bitcoin Platinum is on Github and plans to fork at Block 498533.
BTP is GPU and CPU-friendly, allowing anyone to mine with their existing hardware.
It will also adhere to the Segwit2x protocol.
There is no pre-mine, and block time is decreased from 10 mins to 2.5 minutes.
Check out their Github for more info!
Super Bitcoin (SBTC)
Super Bitcoin will follow closely behind Bitcoin Platinum, forking at block 498888.
Futures for SBTC are already trading around .13 BTC, which moves it way ahead of Bitcoin Cash (BCH).
So far, most exchanges and wallets have remained quiet regarding SBTC and whether or not they will support it.
Total supply will be 21.21 million – 210k are pre-mined and will be managed by the Super BTC Foundation and are mainly used to encourage early developers, invest in the super BTC ecosystem and ensure the operation of the Super BTC Foundation.”
Lightning Bitcoin (LBTC)
Proposed and developed by European team Lightning, LBTC will fork at block 499999.
This will be the very first Bitcoin-forked coin to adopt the delegated Proof-of-Stake scheme.
Lightning Bitcoin is picking up major traction from various exchanges and will be officially supported by Ledger.
So, make sure you stash your Bitcoin on your nano-ledger if you own one!
Bitcoin God (GOD)
Bitcoin God symbolically forks on Christmas Day, just a few short weeks away.
The founder of GOD and angel investor Chandler Guo remarks that he is ”bitcoin Santa designated by God” to distribute free “candies” to bitcoin holders.
There will be 21 million coins in total, with no-premine.
Bitcoin Cash Plus (BCP)
January 2, 2018 will bring yet another Bitcoin fork – Bitcoin Cash Plus (BCP).
According to their website, anyone holding Bitcoin at the time of the fork (block 501407) will also become a proud owner of BCP.
BCP will use the Equihash mining algorithm, which allows ordinary users to participate in mining them as well.
Bitcoin Uranium (BUM)
Uranium-infused Bitcoin will fork sometime in December (no block or date has been mentioned as of yet).
BUM will feature GPU and CPU mining capability, and will not support a pre-mine.
Currently, the Bitcoin Uranium team is working on their online presence (website and Github). As more info becomes available, I will update this post.
Bitcoin Silver (BTSI)
Yet another upcoming fork, BTSI is expected for fork sometime in December. However, no official block or date has been set as of yet.
Bitcoin Silver changes Bitcoin’s POW algorithm from SHA256 to Equihash, once again allowing everyday users to mine without being bullied by the ASICs.
Make sure you store your Bitcoin somewhere that gives you access to your private keys – BTSI is crediting owners of BTC at the time of the fork on a 1:1 basis.
There’s not a ton of news out regarding Bitcoin X at the moment, but we do know that it’s worth keeping an eye on.
Total supply will be 210 BILLION coins, which is absolutely insane.
Owners of BTC at the time of the fork (whenever they figure that out) will be credited on a 10000:1 ratio (if you own 1 Bitcoin, you’ll receive 10000 Bitcoin X).
Do you know of any other Bitcoin forks? Do you think all of these new forks will devalue Bitcoin, or will it do the opposite? Drop a comment and let me know!