Bitcoin Forum

In the last year i saw a lot of interesting patterns in charts, but this one is new. Very interesting that the value dropped 50% just right after an early hard fork, when zclassic splited into zcl and new zencash. Its also interested that the split occurred 4 days early?!

http://i.share.pho.to/c4d30652_o.png

Why did the value of zclassic plummet? What did the hard fork achieve?

It seemed that zclassic had all the advantages of zcash without the problems.

I don't see a zencoin, is zccoin (ZCC) the new one from the split?

Right?! New coin is called zencash and is still without a value...

From official website:
Zen, an evolution of the Zclassic codebase built by Zclassic’s original developers. When the Zclassic network reaches block 110,000, a snapshot will be taken. On May 23rd, the Zen system will launch from this snapshot. Zen will contribute to the human right to privacy and provide the necessary networking infrastructure for people to securely and anonymously collaborate within a borderless ecosystem. We believe that decentralization is the engine of moral progress, and that voluntary solutions are the most creative and enduring.

Hard forks always will bring the price down, because of the uncertainty about what chain will survive, if any at all. Could be much worse, considering it is just an altcoin.

You are not educated on the matter.

People were buying into Zclassic in order to get the same amount of Zencash(at the time of the fork, if you had Zclassic, you would have received Zencash on 23th of May). So majority of the people bought just to get the Zencash and they dumped the Zclassic afterwards, because the development will be focused on Zencash.

I am aware of that, but the last 2 days, Zclassic wallet was under maintenance on Bittrex, so you coudnt buy or sell ZCL. And Bittrex has 99.34% ZCL volume. It doesnt make any sense..

I think that Zclassic will go up in value on or around the 23rd! I think both Zen and Zclassic will play off eachother   

Hello, I have hold zclassic long time before block 110000 in a private wallet and I have my private keys. Just to make sure, if I sell my Zclassic now on Bittrex I will get my ZenCash once the release is done by importing my zclassic private keys to my ZenCash wallet, right?
Thanks for your help :)

ZCL pumped leading into the fork, the drop is just an over-correction to that.  I'm confident it'll rebound , doubtful it will fully revive for a while though.

The split isn't 4 days early. The fork is done so nobody needs to hold ZCL for Zen. The actual launch of Zen is the wallets and the blockchain so the Zen people already have can get going up and live.

The Zen community is very adamant about buying up from the dumpers who got in just to buy both coins and will be snatching them up. Due to nodes locking up funds and increased zk-snark interest recently after the split happened and the demand has grown already well above where ZCL started

I'm little bit confused, somebody dumped ZCL till the 1k, is this was immediately after trade was started again? (then this is understandable) In other case this caused another dump, and then all this have sense, panic as a weapon was used here many times very efficiently. This is very good time for entering.

Zclassic is and will remain a very good project.

But this hard fork was a unique opportunity to have Zclassic and ZEN!

Both are very good projects! ZEN is going to have great value in the future !!

I need more information and confirmation about this. I see this is very undervalued at the moment but also it scares me this situation where luck of information and updates can harm  investors very easily. How many coins we have at the moment? What is next? Any update on this?

You just have to keep up with Zclassic.

The fork never meant the end of Zclassic. ZEN is a very good project but Zclassic also has a nice road ahead.

Just wait and be patient.

This doesn't make me to feel better, only clear explanation would help now. What is going on? No update on subject in main thread. Dump was epic. Buy support lowers day by day.  In case of sudden BTC dump this might end it's story, so this one is good opportunity but too much risk..

People just abandoned Zclassic in the middle as everyone thought hard fork will kill it and ZEN will be the new one. It was just a thought, not the actual truth so its sad to see what happened to a good coin. The dump was epic, really, felt like everything was just an artificial pump.