I tried to participate in the Bitcoin Private fork by purchasing 2 ZClassic coins. For those crypto newbies that do not know what a fork is, it's when a coin, for example gets split into 2 coins, producing a new coin. In my case, the fork for Bitcoin Private was a double split, using Bitcoin and ZClassic coin.
In this fork the holders of either Bitcoin or ZClassic would be gifted Bitcoin Private at a 1 to 1 ratio.
Still being newish at this, I stupidly puchased two ZClassic coins each at $140.00 each because I thought that this coin must be good if it's be 'forked'. Not knowing everything about forks I went ahead and transferred my two precious ZClassics into a wallet at CarbonWallet.com.
For those who do not know, if you are to get the free coin from a fork, you must have the original coin, in this case the ZClassic in a wallet where you are the only one who holds the 'Private Keys'. The Private Keys give you the access to deposit and withdrawal from a crypto wallet.
On the day of the said fork, a snapshot/photo of the blockchain on which the coin rides upon is take. That ensures that whoever had the coin at the time of the snapshot can use their private keys to paste into the new Bitcoin Private Wallet to collect the 'new coin'.
People online said it may be safer to wait a day or two after the snapshot to withdrawal the original coin.
I waited till the following day, then tried opeining my Carbon Wallet which held my ZClassic which I spent $280.00 in order to obtain but I couldn't access it. The team in charge of that wallet said that they were working on something and that the wallet would be restored soon. I waited 3 days I think, then I tried again.
I was not able to access my ZClassic wallet so I went on coinmarketcap.com where everyone checks out the prices of all cryptocurrencies and where you can purchase each.
AHHHHHH! SHOCK! To my horror, the price of my 2 precious ZClassics became worth $11.70 each. Whaaaa What happened? Oh My God! What happened to the $140.00 price for each coin, where did it go?
.
My head began to race, 'OH SHIT!' I thought, my head felt dizzy. My throat got really dry all of a sudden. Where did my $280.00 go? My 2 coins were now worth $23.40 usd. FK! FK! F**K!
After losing most of my cryptos from the Bitconnect SCAM, I had little Bitcoin left so I stayed away from any ICOs dealing with 'Lending' programs. What little I had left I decided to purchase ZClassic coins. Now ...
I had this bad feeling all over my body, just like the time I thought my own MyEtherWallet was hacked and the balance was 'zero'. That was the stomach churning feeling rushing around my body. Total anxiety.
So lesson learned. Even a person that is in a bad situation, can get dealt with more bad stuff while trying to crawl out of a black hole. What to do now? I later found out that ZClassic was a coin that not many people wanted plus coins usually get dumped soon after a fork unless that coin has some real value like Bitcoin, Litecoin or Ethereum.
My only chance to recover the lost amount is to invest my $23.40 into a lower valued coin that has upcoming value. I may put my small amount into Electroneum ( the new mobile miner coin that's coming out Monday March 5, 2018 ) or a great one may be Theta ( the future of YouTube on the Blockchain ).
Electroneum is around $0.07 and Theta is now $0.18, both coins have great potential (Theta is a token though). OKAY! I'll be able to get around 334 ETN coins for my $23.40. Please God Help Me! ( feeling sad )
Oh Well! Most people know that the Cryptocurrency world is brand new and now called the Wild, Wild West, so please be careful when investing into Crypto. Do you own research and don't be stupid like me.
Back to my slice of bread ...
If you liked my post, donations are welcome. Thanks
Litecoin
LZ1fPQpEfA7acjp6ZnmkGf6aUX7te8w2Hs
Ethereum
0x100575ab78797cb69f1a0cef0660dc9e6165d288
Dash
XxasjCp8CvEeYxTsoqSy77nx6QDxoZbCkL
ZCash
t1T8TGfsFvG6ownnmnB6CSGPHJY5vJTHkLW
Bitcoin
1EZFKxkkb4nk24LEQeG2oR4H1sTpZWBuWP
THE TRUTH ABOUT CANCER
You do realise it was Bitcoin Private that you paid $140 for, not ZClassic. If you can get your private keys from your ZClassic wallet you can claim your Bitcoin Private as soon as they release their own wallet (next 24 hours hopefully).
Thanks so much. There's a lot to learn and understand.
No problem, you can download the Bitcoin Private wallet from here:
https://github.com/BTCPrivate/electrum-btcp/releases/
The link is also on their website.
There are lots of videos out there explaining how to claim your Bitcoin Private
okay, thumbs up
Coins mentioned in post:
Thanks
Hi Yoona
I'm John Fenton CEO of Carbon Wallet, Firstly let me apologise for temporary outage of service on the 28th Feb immediately after the snapshot, we scaled our servers twice but where overwhelmed by the traffic, it was back up and running that evening, As Imaverick pointed out ZCL was never going to hold its value ( before the fork was touted it was running at less than $5) I wrote an article about this factor https://medium.com/@john.l.fenton/bitcoin-private-fork-btc-zcl-btcp-7cb652a39709
Buying ZCL gets you like for like BTCP, as does BTC but for a fraction of the price
We have created the BTCP addresses for everyone and are currently testing the TXs as soon as complete we will release to ac holders
Meaning when we release all you have to do is add the BTCP private wallet by clicking the add ccy option and your 2 BTCP will be there.
I will post here, twitter and medium when this is complete
In mean time could you email me direct at [email protected] and we can discuss the issues you faced accessing your wallet, as I take these matters very seriously
Regards
John Fenton
Dear John Fenton, thank you so much for your reply. I was a little disappointed that I was not able to access my account when I needed to and my ZCL depreciated but was very happy that your Carbon Wallet honoured it's word and issued each ZCL holder their Bitcoin Private. Will continue to use the CarbonWallet.com