What is Bitcoin Diamond? - Bitcoin Diamond (BCD) Explained

I don’t know about you but I keep hearing about  bitcoin diamond. If you are like me you are probably wondering what the heck is  this? I finally had to  break down and go look it up. So this presentation will cover what is  bitcoin diamond (bcd) and will allow you to  more fully understand  this new  bitcoin hard  fork cryptocurrency.

What you already know is bitcoin is  the  first successful cryptocurrency to prove it’s true worth and stability . It has done  this so well to where major  financial institutions are backing it and it  helps to bring in lots of  new investors to  cryptocurrency exchange markets.  Sometimes when a currency is so popular   developers want to  branch out and  take the same  idea but improve upon it  or  make some  changes  to make it work in a better way. This can also  be in a way that the original wasn’t capable of performing.

bitcoin diamond (bcd)

This is how we end up with things like  bitcoin cash, bitcoin gold and now  bitcoin diamond. The code for  the original  bitcoin was  modified with some light changes and then pushed out  to those who  held  the original bitcoin cryptocoin  before block 495866 was  created. If so then you were eligible to  receive  10 bcd for every  1 bitcoin that you held at the time.

How is Bitcoin diamond really different from Bitcoin original?

 Well first off there is will be a supply that is 10 times more than bitcoin at  210 million bcd coins versus bitcoin  which will eventually be at  21 million.
Bitcoin diamond is focused on being a privacy-oriented coin, similar to another  coin called monero. It plans to achieve this by encrypting the transaction amounts and balances of all BCD users. In it’s current state the original  bitcoin  isn’t exactly  anonymous when it comes to transactions. They are  all displayed on a universal ledger. Every  bitcoin wallet address and  every transaction for public view.

How Do You CLAIM Bitcoin diamond?

Well if you  were holding  bitcoin originally before the creation of block 495866 then you  are eligible. You can then claim your amount.
 If you hold your bitcoin on exchanges they   will start  or have started  trading them already. The  blockchain for  bitcoin diamond  should go live by the end of January 2018.

Exchanges that currently deal with  bcd are binance,, Yobit,gate.io.
If you don’t currently hold  bitocoin on any of these exchanges that  trade or will trade in bitcoin diamond then one should look for alternative ways to  claim their free coins manually.

So what  we have is a new hard fork  added to the  bitcoin  cryptoverse that promised to help with increasing privacy of  users transcations and balances. It  will have 10 times the supply of coins as  the original bitcoin and will run on it’s own blockchain once it goes live. This also hopes to  free up  congestion  from the  main bitcoin blokchain network and allow for  smoother transactions on a regular basis.  So it does  show some promise but only time will tell with this one.


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