BTCP & CLO : All You Need to Know

I rarely talk about forks and hard forks because the market's behavior during these events is completely irrational and trading in them could cause investors to lose a lot of money. It turns out that soon we will have two major forks. One on ZCL / BTC which will give birth to BTCP, and one on ETC which will create CLO. This time, a small update is needed.

Bitcoin Private

Bitcoin Private (BTCP) is a hard fork of ZCL. The tech of bitcoin private will be the same as Bitcoin Gold but also with Zcash/Zclassic tech. This means payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private. The snapshot date was announced January 28, 2018, and will be occurring on February 28, 2018 and the mainnet launch for BTCP is approximately two days later. The total number of BTCP will be very limited at under 30 million total coins; the exact number will not be known until the day of the fork as individuals are still mining ZCL and BTC.

It is highly recommended keeping your ZCL and BTC off exchanges for the fork if you intend to take advantage of the free BTCP. It took Coinbase over six months to provide support for BCH. If you have any desire to exchange BTCP, do not rely on exchanges immediately, hold it in a wallet. It is likely in the next three weeks there will be many announcements regarding which exchanges will support the fork. With the announcement of each new exchange expect to see the price of ZCL to increase dramatically.

The question becomes what will the market adoption of BTCP be and will the price of BTCP be above the current price of ZCL. The answer seems to be a resounding yes. Bitcoin Gold is trading at $185 per coin following January’s correction. Bitcoin Cash is trading at $1600. Even Bitcoin God which had significantly less support is valued at almost $100 per coin and was well above $150 prior to the January correction. It is likely BTCP is priced in the $300-$1000 range in the short term, making it a 100-800 percent one to three-month play, if you plan to purchase ZCL shares to accumulate BTCP.

However, experience shows us that a hard fork attracts a lot of FOMO. That's why you have to be careful. Here, ZCL capitalizing on the name of Bitcoin, the number of people wanting BTCPs is likely to be large and the price of ZCL could still rise by then. But the potential fall could be just as terrible. (We have already seen falls of more than 50% on some forks). It is therefore prudent to remain cautious, even if the price of the BTCP could reach record highs. The fork of ETC

Essentially CLO coins will share the same history as the existing ETC chain but from block 5,500,000 and forward the network will be its own. The cloning is expected to happen next week sometime on or after March 2. The reason behind the snapshot is because CLO developers believe there are issues regarding ETC’s smart contract design. According to the CLO white paper ETC is susceptible to smart contract hacks much like the DAO platform. The CLO developers plan to create a “Official Smart-contract Auditing Department of CLO & ETC,” so one could assume the snapshot may be considered an extension of the ETC community

Our belief on CLO is that although crypto has potential for the future, we see it as less interesting. In our opinion, CLO should not exceed ETH or even ETC, but the future will tell us that.

Our strategy:

We have been buying ZCL and ETC for several days in order to accumulate. 50% of ZCLs are on the ZCL wallet to enjoy the fork. A few minutes before the BTCP fork, we will sell the remaining 50% of our ZCLs to take advantage of the rise. For the other coins remaining on the portfolio, we will send them back to a trading room and wait for a technical rebound. Regarding ETC, we intend to follow the same strategy, reselling 75% before the fork.

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