Mysterious Timer Countdown Finally Over!
Popular exchange Yobit revealed on Twitter yesterday that is releasing a new Bitcoin fork. Unfortunately, not much was revealed at the time. Many users waited for hours to receive more information on the mysterious Bitcoin fork. Until the reveal, nothing was known. Not the name of the fork, not the technical differences and not what exchanges it will be traded on.
So far, many key details remain in the dark, even after the timer counted down. One of the few things currently known is: it is traded on Yobit currently & its ticker is YOBTC. The technical details of YOBTC which tend to be key to the success of a Bitcoin fork are unknown at this point in time. Further details about other exchanges are also unknown.
It is also important to note that only Yobit account's that were holding Bitcoin (BTC) were awarded with YOBTC.
Currently it seems that YOBTC might not have what it takes to end up in the top 100 cryptocurrencies. The fact that it seems to be exclusive to Yobit at the time seems like an Achilles heel of sorts. For a Bitcoin fork to be successful like Bitcoin Cash, it needs to be widely traded and needs promising tech. While this might seem like a personal assumption, unless YOBTC releases some documentation soon & makes a few press releases, it seems useless.
Sometimes even Bitcoin forks with interesting applications fail. Bitcoin Private was one of those forks. After its delisting from well-known exchange HitBTC, Bitcoin Private slowly diminished. While still being traded, it is just slowly hovering above zero with no real future.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado