A bitcoin fork is those cryptocurrency which is simillar to bitcoin but not a bitcoin. They are created due to a slight change in the protocol of blockchain network.Currently There are 105 Bitcoin fork projects in total. Of those, 74 are considered active projects. Of these Bitcoin SV ,Bitcoin Gold and Bitcoin Diamond are one of them. Just like other controversial altcoin some of the Bitcoin hardfork are very fond of controversey and hence need to be aware of because of its bad reputation. Here is three of them
BITCOIN SV(BSV)
Bitcoin SV (BSV) is a bitcoin hard fork designed by the nChain company. Here SV stands for Satoshi Version.It was first launched on August 16, 2018. The purpose of BSV is to restore the original Bitcoin protocol. It was created after Bitcoin Cash (BCH).It is a very controversial Bitcoin hard fork and is also a complete waist of money, made by a man who claims to be Satoshi Nakamoto Craig Wright.Some believed that Graig wright completely artificialy pump the BSV. Binance the largets exchange in the world delisted bitcoin SV . Being more contensious BSV has also been removed from many centralised exchange making it hard to buy, sell, or hold. This is mainly due to BSV community member. Where Craig Wright’s unfounded claims that he is Bitcoin creator Satoshi Nakamoto. So jt better to aware of this coin while investing.
BITCOIN DIAMOND (BCD)
Bitcoin Diamond is another extremely controvercial hard fork of Bitcoin . It was launched on November 24, 2017 after block #495,866. BCD was already a controversal cryptocurrency from the day of launching.
The main reason behind its controversy is that there was no white paper regarding the project and no community was formed. Above all there was a little information regarding the project.Also it was charged of scam. But till now there is no real proof of any scam. But we have seen a lot of pump and dump on thia coin. Also Kucoin had issued a warning on BCD after soaring a price of 40x and than crash ultimately. It is almost a dead project.
But still it is traded in all source od exchange including binance. Which means this project is 100% straight up. But investing in somthing which ia pump and dump coin is not benifecial at all. It could lead to a huge lost.
BITCOIN GOLD (BTG)
Bitcoin Gold is another most controversial bitcoin hard fork ever which we need to stay away from.Though it have a slight more development than Bitcoin diamond. But that is not saying much.BTG was hard forked on October 24, 2017, after block #491407.
Quite Similar to BCD just after it launching controversy sparks against this coin. It was mainly due to service attack on the website .During the attack, 388,000 BTG (worth approximately $18 million USD) was stolen from several cryptocurrency exchanges. Hence it received many criticism from coinbase and Bittrex. And it was latter delisted from Bittrex due to unpayment of the damage caused by the attack.
Lately in january 2020 BTG suffer another 51% attack from hacker which lead them to double spend about 72k inorder to make up the lost.When a network is easily able to take it and overrun it is better to stay away from it.And find a better investment coin
I have read about them already! I was receiving some post and messages about BSV airdrop also! But I didnot give it a try! Thanks for this article.Came out useful for me