Is the game worth the candle: on the value of «free» coins 70 forks of bitcoin

A year ago, the fork of Bitcoin were rare, and has now become not just the norm, and meme – forks happen almost every week. Today was made 69 forks of bitcoin and major altcoins forks 18. The owners of bitcoin, monero, ether and litecoin can now claim more than 80 of «free» coins. However, the game is worth the candle to light another issue that has been raised repeatedly by leading experts in the market, for example, Andreas Antonopoulos.

Many people know that since launch Bitcoin Cash quality and value of the subsequent forks went downhill. However, few people know exactly how many forks have happened in the network. Coral Bitcoin, Bitcoin Sudo and Bitcoin Star are just some of the coins that result from the branching core network, which are unlikely to ever make a name for himself. As in the case of most coins are forks of Bitcoin that can be found in the exhaustive list, these tokens could not get listed on any exchange.

On this website there are detailed instructions on how to get coins forks for those who are interested in it. However, before to receive «free» coins, it is worth considering whether the game is worth the candle.

Recently Andreas Antonopoulos told
about how coins are forks of Bitcoin affect the confidentiality of your savings and why you should stay away from them. In addition, the «posting» of each fork threatens the loss of the original bitcoins out of your wallet. Given the fact that only 10 forks of the bitcoin at the moment are traded on exchanges, it hardly makes sense to risk their anonymity and safety.

What is the value of a coin forks

Of the 69 forks of bitcoin today traded on exchanges are just a dozen. Together at the original 1 BTC they are worth 941 dollar, or about 0.12 BTC. Remove the Bitcoin Cash out of the equation and you will get a total cost of only $ 206 or 0.026 BTC. If you don’t have at least a couple of hundreds of bitcoins, to obtain these coins are virtually meaningless. But for those who are blessed with a decent status in BTC, move them, risking to reveal their secret keys in an untrusted wallet or any third party website, and to part with all their savings – is just silly.

When it comes to altcoins, it’s even worse. On lists 18 forks of altcoins, most of them just duplicated the original code with minor changes. For example, in the case of Verge – a fork of the Dogecoin cryptocurrency (in turn, the fork lickona, in due time copied from bitcoin) which have never been available at a ratio of 1:1 owners of the original coin.

In the list of altcoins Forkdrop lists six forks of Ethereum, three ‘ fork of Litecoin, six forks, Monero and several other cryptocurrencies. In this case, the exchanges are traded only three coins, and their total cost is only $ 20. No need to be a mathematical genius to realize the futility of obtaining coins are forks of altcoins, most of which are not even listed on cryptocurrency exchanges, but also bear the risk of loss of confidentiality of the original savings.

A fork of Bitcoin at home

To create a new fork of Bitcoin easily. Tools like Forkgen, make hardwork – just click the button «Create a new altcon». However, as was found by the developers of these forks, Minor as Bitcoin, Bitcoin is King and Bitcoin Boy, branch network BTC is not enough to implement the present hard forks.

One coin, not included in the lists Forkdrop Bitcoin Private. It’s a little different from the other — that was the result of a simultaneous fork Zclassic and Bitcoin. BTCP started trading at around $80, but fell in four times in a month.

In fact all forks of Bitcoin after Bitcoin Cash – worthless coins «free» which may jeopardize the safety of your private keys, and privacy. The vast majority of cases, it is better to stay away from these tokens to protect your capital.

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