First of all, what is Bitcoin Private?
Maybe you haven't heard about this project yet but BTCP is a coin that was forked from Bitcoin and ZClassic. Both Bitcoin and ZClassic holders received their BTCP amount in the ratio of 1:1. Obviously, it seemed to be the smarter choice to invest in ZClassic (ZCL) since it was much cheaper than BTC but I'll get to that in a minute. For now, I can say that this project is currently controlled by a lot of (organized) FUD that is making the price tank.
Should I invest in BTCP/hold BTCP?
The future is uncertain. Lots of people are worried that this was a scam done by Rhett but honestly, this just plain stupid. The team behind BTCP is very active on Github and remember that this is an open-source project.
BTCP had bad luck that the only exchanges that supported it at the beginning were very small in trading volume. Bittrex did a very bad job as we know and speaking of other exchanges like Kucoin and Binance, we can say that it's still uncertain whether they will list BTCP. Kucoin originally listed BTCP but not publically. Their twitter staff is saying that they won't list it (again) but again, they're a completely different team from the dev team. HitBTC should list today as promised (28th of March). While HitBTC has got bad reviews it's the top #12-#13 exchange at the moment and it should at least increase the volume by a lot or maybe even the price.
So should you invest or not? I don't know since I'm not a financial advisor. I hold BTCP bags and judging by the current development I could have more BTCP if I didn't invest in ZCL first and bought at the current price. I still do believe in this project and to all the FUDers I'd like to say that BTCP has only been around for a few weeks. Major exchanges are coming and if you read just a little bit about the team behind BTCP you'd know that this will be a potentially successful project. Also, don't forget that we are in the biggest market correction since MtGox and if BTC goes down alts go down too.
Make your own decisions and think about what you're going to invest in. Never risk all of your $$$ or you deserve to get burnt.
Can BTCP replace BTC?
Finally, the question arises if BTCP could one day get bigger in value than BTC. In my personal opinion, this should not happen in the near future as almost nobody knows about BTCP yet. If we, however, look at livecoinwatch.com, BTCP is ranked at #30 and if crooked CMC were to include the market cap/circulating supply in their data we might see a good surge in price coming.
What's your opinion?
I'd be very interested to hear what other people think about my post. Do you agree or not? Have you invested in BTCP yourself? What are you going to do with it? I'm looking forward to a friendly discussion!
Bye!
