Bitcoin forks cause a lot of controversy, and some of them can become the most scandalous. Bitcoin Prime and Anonymous Bitcoin are considered brazen scams of funds through a pump-and-dump scheme orchestrated by enterprising developers.
Rhett Creighton has always been a controversial figure, but his latest outburst has the entire cryptocurrency community worried. EOS network programmer Dan Larimer constantly moves from project to project, but his changeability is nothing compared to Rhett's suitcase mood. Last December, Rhett announced a double fork of bitcoin and zclassic, which inflated the price of ZCL and brought profit to Rhett and his friends. Now he is creating Bitcoin Prime, combining bitcoin and primecoin.
In addition, as part of a separate project, he is creating Anonymous Bitcoin, which is a fork of zclassic and bitcoin, and which will become “the new standard for truly private banking.” This means that zlassic now has two forks - with bitcoin to create the zk-SNARK pair, even three if you count zencash, which also came from the ZCL fork. Zen has since created its own community and differentiated itself from its parent coin. Bitcoin Private, on the other hand, only angered ZCL holders, many of whom lost their money. ZCL has since died and been resurrected many times, now its price has risen 242% in a month.
Primecoin was trading at 80 cents until Rhett Creighton bought a bunch of coins, announced plans to create forks, abandoned the Bitcoin Private project and went to make money. Many of Rhett's promises infuriate the cryptocurrency community. Some individuals, including bitcoin developer Jimmy Song, believe that BTC forks are altcoins and do not deserve to be classified alongside bitcoin.
Regardless of their status, the approach taken by developers such as Rhett Creighton received universal condemnation. You can't just keep forking forever. Rhett rides on speculation, such as his claim that Buterin once considered creating ethereum based on primecoin, as if this somehow makes it legitimate to create Bitcoin Prime. Primecoin's price has risen 350% since the fork was announced, those who bought it early, like Rhett Creighton, will profit no matter what happens. At least Rhett sees the brighter side of the furor he caused, tweeting the following:
This week another Bitcoin fork appeared on the Bitfinex exchange - Bitcoin Interest.. Most major exchanges do not pay attention to Bitcoin forks, but for unknown reasons, Bitfinex has decided to support Bitcoin Interest (BCI). The coin represents a fork of Bitcoin developed back in January, and Bitfinex intends to release BCI later this month before commencing trading. It remains to be seen what functions BCI will offer, other than paying interest to token holders. Whatever its fate, Bitcoin Interest was not created based on a pumping scheme of an existing coin, and for this reason alone should prove less controversial than Bitcoin Prime.
According to https://news.bitcoin.com
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