Fork You.

This article is about Hard Forks in general, please verify my findings to be true, bcuz I have been wrong once B4. Lol

WhatThaFork (WtF)
Created by: Mr. Lee Modified on: Tues, 27 Feb, 2018 at 3:37ish.

Hard Forks usually happen at a predetermined block height, agreed upon by miners, and made public. Leaving investors plenty of time to re-position their assets accordingly.

In advance to said block, miners begin creating blocks with different rules, and these differences are the cause of the bifurcation of the blockchain.

The original blockchain(bitcoin in this case), will continue on unaltered.

Stemming a new branch of the blockchain will split off, known as BitcoinPrivate.

The new branch is a distinct blockchain with the same transaction history as the original one up until the planned fork, then diverges from it origins. As a result of this process, a new cryptocurrency is born(BTCP).

If you had coins in Coinomi at exactly the time of the fork (snapshot), or in a different wallet. ONE where YOU control the private keys to your Wallets addresses, you will benefit from the split.

If you had a balance in an exchange at the time of the fork (snapshot), you most likely are not in control of the coins, and cannot claim them.

You will only be able to claim them if the exchange decides to start supporting the fork.

The dates and block heights when the supported forks were born are:

Clams (CLAM): May 12th 2014 (BTC block 300,377, LTC block 565,693,

DOGE block 218,556)

Bitcoin Cash (BCH): August 1st 2017 (BTC block 478,558)

Bitcoin Gold (BTG): October 23rd 2017 (BTC block 491,407)

Bitcore (BTX): November 2nd 2017 (BTC block 492,820)

Bitcoin Atom (BCA): January 24th 2018 (BTC block 505,888)

Litecoin Cash (LCC): February 18th 2018 (LTC block 1,371,111)

Bitcoin Private (BTCP): February 28th 2018 (BTC block ?, ZCL block ?)

Callisto (CLO): March 5th 2018 (ETC block 5,500,000)

Bonus questions:

Q: What if the transaction sending coins to Coinomi was still unconfirmed when the fork happened?
A: That transaction was not yet included in a block. So as far as the fork is concerned, it never happened.

Q: How do I get the coins in the wallet exactly in that block?
A: You don’t need to do that (and shouldn’t try to). You can transfer the coins at any time before that block is reached on the network. The most important thing is to already have coins in your wallet by that time/block.

Q: I sent my coins to Coinomi before the fork (snapshot), now what do I do?
A: Get a coffee, read a book… Just wait until after the fork and you’re good to go.

Q: When can I move my coins?
A: You can spend or exchange your original coins one block after the (snapshot) Hard Fork, and you will still be eligible to receive the forked coins.

Coinomi is one of the safest places to keep your coins before, during, and after a fork, as you are the sole owner of your privatekeys at all times.

If I may recommend,

There is no reason to move your coins out of Coinomi: It can all be done simply by sending your original coins to a new “Receive address” Within Coinomi for that coin, before adding the forked coin wallet and claiming your forked coins. The privatekey for each address is different, therefore your original coins will be safe.

Q: Can I get forked coins from a paper wallet?
A: Yes, as long as the paper wallet had a positive balance at the time of the fork. Instructions can be found in the second link above.

Q: Can I sweep the forked coin from a paper wallet without sweeping the original coin?
A: Yes, you can sweep each coin separately. Simply go to “… / Sweep wallet” and choose which one you want to sweep. If there are any other coins in the wallet, they will remain untouched until you decide to sweep them. It is recommended to sweep the most valuable coin first.

Litecoin LitePay has begun.

On Tuesday, February 13, LitePay Inc. announced a release date for its supposedly payment interface with Litecoin (LTC), and to the surprise of many the platform will arrive much earlier than expected.

LitePay gives companies the ability to easily accept Litecoin payments, using the official Litecoin debit cards with VISA technology. Making real time cryptocurrencies transactions.. instantaneous and easier than ever before, ‘they say’.

IF THEY are to be successful, LitePay could actually revolutionize the cryptocurrency by bringing it into the mainstream.

LitePay seeks to eliminate the volatility associated with cryptocurrencies transactions by allowing providers the ability to instantly accept Litecoin payments, as well as instantly convert Litecoin into fiat money with only a 1% fee associated with each transaction.

According to Palwasha Saaim, Lombardi Financial’s research analyst, LitePay will really make a difference. Saaim explains:

“Litecoin users will be able to convert tokens to dollars and vice versa through their Visa-compatible LitePay cards, which can be used at all ATMs or companies that support company payments.”

Again, IF LitePay is to be successful, the NOW sixth largest cryptocurrency by capitalization Could become the first to truly break down the barriers that prevent cryptography from advancing by opening a new era of acceptance and usefulness within a market critics consider useless and purely speculative driven market.

Keep in touch for more crypto News and don’t forget to follow us on our twitter. Search for us on twitter. @BITCOINATX

What the Fork bitcoin in 2018

just fork bitcoin, new ICO
50 Hard Forks scheduled for bitcoin in 2018
Forks on Bitcoin have become almost as common as ICOs, and in fact, forks on the Bitcoin chain look to be the latest trend for 2018 as new companies look to cash in on the familiar Bitcoin name.

Already a forking mess

Bitcoin Cash is, of course, the most well known Bitcoin fork out there, sitting comfortably in the top five coins in terms of market cap. However, in 2017, there were 19 registered Bitcoin forks. Still, that pales in comparison to the 50 that are expected this year, according to Lex Sokolin, global director of fintech strategy at Autonomous Research.

That number could still rise further as there is even services out there that are providing rudimentary programming skills to launch a clone. This will of course have a big effect in the cryptocurrency market as hedge fund manager Ari Paul predicted in a tweet:

What the fork?

There are a number of reasons to fork off the Bitcoin Blockchain, some do it, in the case of Bitcoin Cash, to seemingly improve facets of the old coin, while others may have different motives. As George Kimionis, chief executive officer of Coinomi puts it:

“Unfortunately, most fork-based projects we see today are more of a mere money grab. Looking back a few years from now we might realize that they were just mutations fostered by investors blinded by numerical price increases rather than true attempts to contribute and improve upon the Blockchain ecosystem.”

Worth Billions

Years ago, entrepreneurs drew on Bitcoin’s code to launch alternatives such as Litecoin and later Dogecoin, seeking to differentiate themselves in name and often in features.

But while Dogecoin now has a $744 million market value, younger clones Bitcoin Cash and Bitcoin Gold already dwarf it. Bitcoin Cash, launched in August, is now the fourth most valuable coin, worth a total of about $27 billion, according to CoinMarketCap.com.

“Bitcoin Cash was successful, quite a lot of momentum,” Charlie Hayter, CEO of coin researcher CryptoCompare, said in a phone interview. “Now other traders try to see if they can pull off the same thing.”

A fork can often make millions for its developers as well as the server farms running and supporting the new software. Bitcoin Gold distributed 100,000 coins, currently worth almost $190 apiece, to an endowment funding its ecosystem and development.

About 5,000 of those coins went to the core team that created the fork. If the coins appreciate, that’s a boon for the developers as well.

Kimionis also sees a new phase in the ICO marketplace with the original hype simmered down somewhat. Forking adds a some edge to a new coin. And Rhett Creighton, who’s working on the upcoming Bitcoin Private fork.

He predicts forking may soon sideline a more popular alternative, initial coin offerings, where startups raise money by selling entirely new tokens. That market has gotten crowded after raising about $3.7 billion last year, and smaller offerings have struggled.

A fork’s main advantage lies in sprouting from Bitcoin, the world’s most famous cryptocurrency. In a typical fork, all existing Bitcoin owners are eligible for the forked-off coin – giving the new asset a potentially huge number of users.

Most coins arrive with at least some name recognition, because they bake “Bitcoin” into their moniker. Take for example, Bitcoin Diamond, with a price that started off strong. It didn’t last forever.

“Bitcoin forks are kind of the new alt coin,” Rhett Creighton, who’s working on the upcoming Bitcoin Private fork, said in a phone interview. “We are going to see now a bunch of Bitcoin forks. And they are going to start replacing some of the top hundred alt coins.”

Bitcoin Private promises to offer more privacy features than the original Bitcoin.

Forks can also help startups raise funds in countries such as China, where ICOs are now BANNED, said Susan Eustis, CEO of WinterGreen Research.

Bitcoin God arrived last month. Bitcoin Pizza was delivered in January. Bitcoin Private’s issuance date is… still a secret.

These are just a few of the growing number of so-called forks – a type of spinoff where developers clone Bitcoin’s software, release it with a new name, a new coin and possibly a few new features or different algorythm. Often, the idea is to capitalize on the public’s familiarity with the Bitcoin Brand to possibly make some serious money, at least virtually currencies.

In total some 19 Bitcoin forks came out last year – with up to 50 more scheduled to happen this year 2018, according to Lex Sokolin, global director of fintech strategy at Autonomous Research.

50 is just the estimate, Ultimately, the number could run even higher now that Forkgen, a site enabling anyone with rudimentary programming skills to launch a clone, is in operation.

In a Jan. 14 tweet, hedge fund manager Ari Paul predicted more than 10 percent of the current value of Bitcoin and Bitcoin Cash will reside in new offshoots.

Danger to the vision

It is hard to see these minor forks, even the likes of Bitcoin Gold and Diamond which reached the news, really, truly, adding much to the Blockchain environment. Even Bitcoin Cash has been accused of being a money-making scheme from the likes of Jihan Wu and Roger Ver. The difference between trying to improve the Blockchain, and to make money off a name, is a very blurred line.

Motives behind the efforts vary. Some backers try to improve on Bitcoin. Others seek a quick profit. Developers typically score a cache of newly minted coins in a process called post-mining. Yet prices don’t necessarily hold up for long.

Even some of Bitcoin’s initial forks are getting forked, with Bitcoin Cash getting a proposed derivative, Bitcoin Candy.

Support from miners isn’t always enough to support a price. SegWit2x [B2X], a fork from late December, drew more than 10,000 miners, according to an email from one its creators. But B2X has been sliding, losing more than 90 percent of its value since Dec. 22, according to exchange Yobit.net.