Hard Fork is a way to earn money?


HardFork is a way to earn money?

After stabilization of the crypto currency and correction of the market, speculators are looking for new schemes for making a profit. Kryptonovyh say that the popularity is gaining in speculation on hardforks. The principle of earning speculators is very simple. Expecting the division of the currency you need to buy a few coins, and after the hard currency quickly throw off both currencies (both old and new). The main rule of this speculation is the speed of operations. That is, the currency player earns instantly, until the market adjustment has passed and apart from the old price of the crypt, the bonus is a new currency for free. For a good example, you can consider the operations with EthereumClassic. On March 5, the Callisto (CLO) crypto currency was created as a result of the hard core in the EthereumClassic blockade (ETC). Before this event, the etherium classic on the market was trading at $ 30.

Some speculators bought up at this price a digital currency in the hope of receiving a bonus and Callisto. Then immediately after the separation it was planned to throw off $ 30 ETC and for any price CLO. As a result, the profit will be equivalent to the price of Callisto. But in practice, everything turned out quite differently from what the digital speculators thought. The market of crypto currency is not predictable, and in the case of EthereumClassic everything ended in failure. Accent after the separation, the price of the ETC sank more than 16% (the original 30 changed 25 dollars). For clarity, you can see the data provided by the authoritative exchange YoBit (Figure 1)
Even more interesting was the created currency. Literally for a couple of minutes, Callisto sank by 50% (the original $ 4 was replaced by a more modest $ 2). Currency movements can be seen in Figure 2. Simple arithmetic shows how miscalculated the speculators. Before EthereumClassic’s hardfire, they bought $ 30 each, and after the ETC division they sold $ 25 each and CLO $ 2, which at best gives $ 27 a gain or loss of 10% of the original ETC price. This example proves that hardfork for earning is not always good and it is necessary to go into such deals with the mind.

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There is a deeper, the reason for the failure of such a transaction is very simple. Only a couple of crypto-instruments (by the way, those that are difficult to classify as large) were ready to award the holders of EthereumClassic Coins Callisto after the hail. In other words, all speculators need to remember a simple axiom: there is no support for large crypto-bills – there is no earnings on hardfork.

Figure -1

Figure – 2

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