Topic: Is it worth chasing hardforks? (Read 168 times)

Well, I've lived through the Litecoin Cash fork and the Bitcoin Private fork. However, I'm not sure if I will participate in another fork any time soon if at all. The LCC fork was handled very poorly, this coin still does not have support from any major exchanges and it's been a couple of weeks since the fork. Regarding the BTCP, that too was handled very poorly in my opinion. I think the leaders at BTCP did a poor job of communicating what was going on, there was a last minute announcement from Bittrex that was not really great news. They said they would make a reasonable effort to distribute the BTCP coins and that it could take up to a week but they were not going to list BTCP on their exchange.  Cryptopia had ZCL withdrawal issues and it took forever to get coins in or out of there.

So overall, it was very stressful and I'm not sure that it was worth the trouble. The LCC coins are nearly worthless compared to the price of LTC and I don't think it is likely to gain any significant value until it is listed on a major exchange. I think BTCP has very good potential but I'm not sure that participating in the fork was any better than just waiting for BTCP to hit the exchanges and just buying in. I don't think I will get in on a fork any time soon unless I happen to own a coin already before any fork announcement is made.

Thanks to everyone for their comments.

Participating in hardforks are good because it gives us free money of course but not a big deal most especially in Altcoin forks. Same thing happened to Bitcoin but only BitcoinCash makes something different with other forked coins. For me If I am going to participate in hardforks the safest strategy for me which I actually did inBitcoin is to buy a pre-forked coin and make gains right after the event. Sometimes team might abandon the project if they noticed nobody will of course gonna support their ideas or it could be that they just want to have gains.

Well for me just my opinion and little knowledge on BTCP I think it's worth it other than those hardforks or airdrop. But still in the end you are the one will decide like what you really think of BTCP if you think it has a big potential in the future or not. Well goodluck.

From my experience watching many forks, the coins involved (so for BTCP aka Bitcoin Private, in this case, Bitcoin and zClassic) a pump in both Bitcoin and zClassic should happen since people buy the coins to get the fork before anyone else. Then a dump on the forks typically happens. After the dump, there's an stagnation process and eventually there's some other additional pumps most likely for whales to exit, then they will get nowhere, including BCash which is a scam that only holds it's price because Roger Ver pumps it from time to time and wastes a lot of money in marketing telling youtubers to shill it and paying writters in bitcoin . com to make articles about it.

I am not really a fan of hardforks, therefore the only hardfork I claimed was Bitcoin Cash. All others seem to be worthless in terms of value, so I'm not really into it. The recent forks all had a pre-mine, so it's clear that these people are just creating these forks for the profit.

It really depends on whether the hardfork coin has backing. You see tons of useless hardforks, like bitcoin blah blah blah, and there are so many of them. Most of them are blatant cash grabs, so they're not worth anything, but a few of them have been successful like bitcoin cash, gold.

By successful, I mean purely in terms of price. I don't like what bitcoin cash and others have done to the industry.

There are too many forks going on, I don’t think it is good idea to chase after all forks. It depend on the hardfork coin project, I will go after if it is promising.

It depends, but I don't like it personally. I prefer not moving my holdings just to have an airdrop of a certain hardfork because it will just stress me out. I'd rather do something more worth doing than that.

If they have something new to offer it could be worth it, if not I wouldn't hold on to them and I'd sell.

If you already have the coin in possession then why not, but if you have to buy it first then i suggest not doing so because the price of the coin will rise before the fork and it will go down after it, so if you are late to sell yours then you are most likely going to suffer losses.

it is very profitable for those who trade on coins that will hardfork and sell coins before the day of the snapshoot. hardfork coin i think it is no longer popular to get free money, i prefer not to get that free coin frompad lose alot of money after thats

In my experience, chasing hardfork are generally profitable. The price of the coin rises before the fork and it's fall in price after the fork is minimal compared to the rise and you too will have the new forked coin with you.

If you are buying litecoin and zclassic just to earn fork coin and you might have taken a horrible decision because of the price of litecoin and zclassic at peak right now. It may better for you to avoid to buy both of coins right now. You can try to take a conclusion after you are seeing what was happening with so many people after purchasing ignis token only to obtain ignis fork coin. They are all getting pishes by the whales.

I am against hardforks at the first place. So my direct answer to your question would be NO. Chasing for forks is just stupidity according to me. Forks are done because of a particular implementation of an idea into the current system. It is in no way meant to be used as a strategy to earn more money. Although people do it anyway, it is probably not going to make a huge difference.

Normally forks are not very lucrative. But if you already own alot of the pre-forked coin ofc you should also claim the forked coin, anything else would be stupid. But do not buy a coin only to get the fork aswell. You need some hardcore trading software to make that into a profitable trade.

Forks must have an Idea behind them and a Team willing to execute and market this new network.
If not - I would stay away from them.

With the recent hardfork of Litecoin and the hardfork of ZClassic coming tomorrow, is it really worth getting into a hardfork? Or is it better to just buy the new coin after the fork? What are some common strategies?

I participated in the LTC hardfork and now have LCC coins that are not listed on any major exchanges. Regarding ZCL/BTCP, ZCL value as fallen like a rock even before the fork and there are no hard commitments for any major exchanges to list BTCP after the fork, seems like a potential disaster is taking shape there as well.

So what do you all think about participating in hardforks?