1 Level
6 Review
1 Karma
Review on Bitcoin Diamond by Holly Smart
BCD is a diluted verson of Bitcoin and will be useful when more mainstream…
BCD is a diluted verson of Bitcoin and will be useful when more mainstream adaptation is present. While many despise it, I believe all forks will only strengthen Bitcoin. In the years to come, Bitcoin's value will come from it acting as a store of value where code will be usedby many forks, who will pay Bitcoin holders a share of their token - from 10-1 to 1-1. Think of the value Bitcoin CasH added to Bitcoin Holders. YaZEN Cryptophilosophy "from one seed, one apple tree, from one apple tree a 1000 apples, with each apple containing multiple seeds
Pros
- Bitcoin Diamond uses legacy signing for all non-SegWit transactions and BIP143 for SegWit transactions. This is unlike BTG and BCH which use the BIP143 for all transactions. Because of the large number of BCDs which will be in circulation, it is not clear exactly how BCD is a fork of Bitcoin. The miners of the coin use X13 algorithm which engages GPU miners fully. According to BCD developers, this altcoin does not require Bitcoin blockchain as other forks of BTC do. The distribution of this coin is not as generous as that of BTC because you only get 0.5 BTX per 1 Bitcoin you had as of block 492820. Unlike many of the cryptocurrencies launched in 2017, it is stated on BCD’s website that the coin was created as a ‘free dividend for BTC holders’.
Cons
- On February 3rd, the price of BCD surged to reach a high of $49.84. Even though the price went down on 6th February to $28.8, it regained on the 7th when it traded for $34.36 at 0600 (CET). The volumes traded for this coin aren’t consistent because on January 13th BCDs traded were $187 million while the previous day it was only $9.5 million. Two days later, the volumes dropped to $17 million. On February 6th, the volume traded was $8.2 million. The market cap of the coin is zero.
