Gem of the day 13 – ZClassic(ZCL)
All time high price:
$248.70 – 1/7/18 (312 days)
24 HOURS -3.74%
7 DAYS -22.78%
What is Zclassic?
Zclassic is a fork of Zcash founded by Rhett Creighton but with the 20% founder’s reward and slow start removed. Creighton’s reasoning was that the Zcash’s founder’s tax and closed-door, private funding round with top VC firms and Bitcoin whales were unfair.
So, he removed 22 lines of code and released this new Blockchain into the wild. He got rid of the slow start of mining in Zcash which created artificial scarcity of token supply.
Zclassic acted as a launching pad for other projects:
Zclassic was forked a number of times in the past year with 1 Zcl = 1 of each of the following;
- Bitcoin Private
- Bitcoin Anonymous
- Bitcoin Incognito
The unforgettable ZCL price rise and fall
Zclassic went from $4 in January 2018 to $248 a month later and then back to $7 in the first week of March.
When the 1:1 split of Bitcoin Private/Zcl hard fork was announced, people rapidly bought up all the Zclassic tokens they could in preparation for the airdrop, causing a record-shattering all-time high of $248
Once the snapshot took place the price hurtled back down to $7 in what’s probably one of the most unbelievable charts ever.
Although if you had bought cheap and sold anywhere near the top you would have life changing money right now,
How many times has ZCL been forked?
Why I like ZCL:
- Zclassic pumps HARD a few times a year. Having a few coins in reserve always pays dividends multiple times a year.
- Zclassic loves to be forked! Because of its privacy features it lends itself toward privacy currency forks. Usually Zcl is forked in a 1-1 ratio basically guaranteeing free coin that in some cases can be relatively successful short-term.
- Great for long term swing trading.
- Easy to mine
- If not swing traded at correctly zclassic generally drops in price as quickly as it went up.
- Either hold for free forked coins at different times during the year or swing trade on the long term. Zclassic never fails to deliver a few hard pumps annually. It really is a Forking great coin!
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