I want to do a longer version of this post sharing what is exactly happening in the backend
TLDR: Richard Heart can be potentially collateralizing the vaults of the forked version of makerDAO on Pulsechain with his own tokens, PLS, PLSX and HEX
What is a fork?
Have you heard of bitcoin cash?
Bitcoin cash was born August 1st 2017
I remember this day, for one, I met a cute cat in my mom’s backyard that day. We call the cat Mew Mew because my grandma said that the cat was mewmewing while looking for me lol
This cat actually comes to visit me a few times a year. Has a collar and have seen community people posting pics of him on facebook saying how he is affectionate and well fed. So I know I am not special in this case lol he must get around. But when he does visit he hangs around all day
Anyways, sorry for sidetracking
August 1st 2017 the bitcoin network had its last major update. Implementing segregated witness (segwit)
There was a small community that felt this goes against the initial core values of bitcoin. So, a chunk of miners refused to upgrade their software
So what happened. There was a split on the chain.
A large group of people who continued with the “core team” and another group of people who stuck to the old software with the idea of increasing block sizes moving forward
For a short while there was a lot of confusion, and the old saying of “the longer chain is the real chain” was put into question and ultimately it was decided that WEIGHT and not just length was what mattered
So a bunch of empty blocks to speedrun through the blocks ended up not winning them the race.
Those of us who didn’t like bitcoin cash from the start know it as its informal name, bcash
Funny enough, the forked version of ethereum’s wrapped bitcoin on pulsechain is worth more than bitcoin cash see for yourself
Let me say that again But with more detail
Did you know you can Wrap a bitcoin and then trade that bitcoin around on Ethereum?
Ok, well pulsechain is a fork of ethereum and all that is on etheruem
So, what happens to the wrapped bitcoin that is forked?
Well… the idea is this coin will also peg
Look at what happened to the dai that was forked over
Look at those x’s
Read the chart… think about how much hive you could have right now if you sold it all for this forked stable coin at under $0.00002 and sell it back for hive when it pegs back to $1
If just a handful of us did this then we could pump the hell out of hive when this coin pegs
Well, that is probably whats going to happen to pls, plsx and hex along with a bunch of other coins on pulsechain. All these people who made millions with this stable coin will rotate into core tokens and others.
The best thing is… this coin can hit $1 any minute.
It doesn’t need buyers to push it to $1. It can just peg to $1 through the makerDAO protocol once the vaults are fully funded
If any of this is interesting please leave a comment and let me know I will go more into it :)
