NEXT BITCOIN FORK IS JUST 33 DAYS AWAY, YOU CAN STILL MAKE GOOD MONEY IF YOU ACT

Back in August 2017, the first coin created from a Bitcoin fork came into existence Bitcoin Cash. However, since then, two other coins have also been “forked” from Bitcoin, Btcoin Gold (October 2017) and Bitcoin Diamond (November 2017). Most people are still wondering what these forks are, how they happen, and how one can profit from them. Here’s my take on all of this.

What is a Bitcoin fork?

We discussed Bitcoin forks back when Bitcoin Cash was just coming out. A fork is basically an alteration of the current Bitcoin code (or protocol). It means someone is changing the rules. Imagine you’re playing a game with thousands of people from all around the world and then someone says, “Let’s change the rules.” Normally, for the game to work properly, everyone needs to agree on the rules being changed.

If that happens, then the change is implemented and everything continues as normal. If there isn’t a large consensus about the change, two versions of the game will be created (one with the old rules and one with the new rules)—in other words, there will be a fork in the game. The same can happen with Bitcoin’s code. Generally speaking, when a fork happens, you’ll have an “original Bitcoin” and a “new Bitcoin.” For example, Bitcoin Cash changed the block size from 1 MB to 8 MB so more transactions could be processed with each block. There were those who supported this change and switched to a new coin called Bitcoin Cash (or Bcash), and there were those who decided to stay with the original rules and keep using the original Bitcoin. Of course, this is a very simplified explanation of forks—not all forks are created equal. There are soft forks, which allow the new rules to play well with the old rules, and there are hard forks, which don’t allow this and create a totally different coin. All of the Bitcoin forks you’re hearing about lately are actually hard forks.

Why should I even care about a fork? Great question! There are several reasons you should care about a fork: You may want to switch over to the new rules and the new coin because you think it’s better than using the original Bitcoin. The fork could have an impact on the Bitcoin community, Bitcoin’s adoption, and even Bitcoin’s price (we’ll get to that later on). You may want to profit from the fork by selling the new coins that are delivered to every Bitcoin holder. Wait, what? I get free coins? Yes. Let’s go back to our game analogy. Imagine your game has been running for a very long time, and you’ve managed to accumulate a considerable amount of points in it. Now someone wants to change the rules but doesn’t want everybody to lose their points, so the new game will start at a certain point in time, and everyone will have the same amount of points they accumulated up until that point. If, for example, you had 150 points in the original game, you could switch to the new game and still have 150 points. You could also play both games in parallel and have 150 points in each. Now let’s see how this works with Bitcoin.

When a fork occurs, the people who decide on forking Bitcoin say, “Look, we don’t like the original rules—we want to create new rules. So starting from block number 453,342 (for example), we’ll change to the new rules.” Anyone who had Bitcoins at the time of the fork will now have two Bitcoins: the original one and the new one. You can decide which one to use, or you can even use both. If for example, you have 1 Bitcoin in your possession when the fork occurs, you’ll still have that 1 Bitcoin, but you’ll also be able to claim 1 “new Bitcoin” on the network that’s running the “new Bitcoin rules” (since that coin didn’t start out from scratch and is continuing the original Bitcoin’s history). It can get a bit confusing, but the main point to remember is this: When a Bitcoin fork occurs, anyone holding any amount of Bitcoins will get the same amount of the new currency as well.

This doesn’t happen automatically; you do need to claim these coins, also buy at their extremely low price, and they do give good bonus when you buy, but each new coin has a different claiming mechanism, and we won’t be able to cover them all. Once you claim your new coins, you can then hold on to them or sell them if they’re being traded on an exchange. This means that you can basically generate money for nothing; all you did was claim coins from thin air and sell them on an exchange.

NOW THE BIG DEAL

NEXT BITCOIN FORK IS JUST 33 DAYS AWAY, YOU CAN STILL MAKE GOOD MONEY IF YOU ACT

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the fork dont happen until the 11th of june so you have time to build the money up by getting your friend on board then withdraw when they fork bitcoin. the last time they forked bitcoin was bitcoin cash and they're worth 0.03 btc each.