Currently, with all the leading digital currency markets suffering from small to medium losses, there is nothing much to be fascinated as par now. ZClassic is now making headlines though it lies down the list of crypto. ZClassic has managed to hit a price of over $128.5, which represents 10% of the increment margin. It is a fascinating development considering that the markets are not in a good state now.
Read more here:
http://bit.ly/2oy6VTvThere is a very good reason for that, which you posted only 3 days ago, and yesterday 28 FEB, 2018, was the deadline to obtain more Bitcoin or Zclassic, to be eligible for an equal amount of the new Bitcoin Private resulting from a fork happening likely tomorrow.
oops, can't post an image yet... There's a good graphic and all the explanation of how it will work and who is eligible to receive the new coin, Bitcoin Private, on the website:
https://btcprivate.org/The Zclassic website has a link to the same fork information on the Bitcoin Private site.
The snapshot to prove you had owned a specific amount of each of BTC and/or ZCL took place at 5pm UTC time, approximately as it was tied to a certain block creation, and that is why the price spiked from near $65.00 to $128; way less expensive than one BTC. The ATH (all time high) was just over $247 per Zclassic on January 7, 2018, likely after many more people had heard about the fork and opportunity to get some BTCP for free.
The fork is to occur about 2 days after the snapshot, and people were scrambling to buy Zclassic and also move any already owned to a wallet or an exchange that specifically is supporting this fork by means of helping to ensure that those hodling will receive the 1:1 ratio of Bitcoin Private (BTCP) to Bitcoin/Zclassic owned.
So Zclassic value was bouncing around between roughly $75-$190 most of February, then started a downward slope 19 Feb-24 Feb from $198 to $98 per coin. Just over 2 days prior to the fork, on 25 Feb, it climbed to $134 and wound up around $118 just around the time of the 'snapshot', after which it immediately took a severe dive (weak hands) on the 28th to about $28, and now around $10. I know there will be a lengthy thread about this somewhere as many people still hodling Zclassic aren't likely happy about this and at the same time I did watch a video by a well known You Tube blogger suggesting that he might sell prior to the fork, just after the snapshot... while I was under the impression one needed to still have the Zclassic and/or Bitcoin in supported wallet, or exchange, through the snapshot and the fork.
Anyway there you have it after the fact. Some guessed right about selling off their Zclassic maybe, but they literally dumped it to the point it has hurt the overall value for now. It may not recover to values it has hit in the past and hasn't even been around all that long as Zclassic resulted out of a fork of Zcash; but it is still being maintained and is mineable, I believe even with CPU alone as well as GPUs, so there still is residual value ongoing. How much will it recover... who knows, I just hope it does. Neither does anyone know what the market value of Bitcoin Private will be. I was betting that although Zclassic was more than I wanted to spend, at just over $100 when I bought 4.2 coins, that even if it dropped back to the $50-60 range that with the gained equal amount of Bitcoin Private that I would at least break even... or would once BTCP establishes itself in the market (and I still can if it takes off fairly quickly and Zclassic bounces back 30-40%).
The following is from the Bitcoin Private website, for info/educational purposes only:
What is a hard fork?
A hard fork is when a single cryptocurrency splits in two. It occurs when a cryptocurrency’s existing code is changed, resulting in both an old and new version. This case is somewhat unique, whereby ZCL and BTC will be co-forked into Bitcoin Private (BTCP).
When is the hard fork?
Snapshot date: February 28th, 2018.
Fork Date & Mainnet Launch: Approximately 2 days later.
How do I receive BTCP?
When the hard fork occurs, a snapshot of all existing ZCL and BTC holdings will occur. Anyone holding ZCL or BTC in a wallet or supported exchange will be credited Bitcoin Private (BTCP) at a 1:1 ratio. For example, if you hold 15.4 ZCL and 0.1 BTC, you will receive 15.5 BTCP.
