Operation Airdrop! - BTS / New BitShares (NBS) Hard Fork

Image From Pixabay.com / Canva App Illustration

Intuition takes us places in life and in crypto. It does if we keep enough of our senses to listen to it. Acting on it is another proposition entirely. Two nights back, a moment of intuition brought new information to my awareness.

What was it that triggered this feeling?

It's been BitShares on my mind the past few days, bouncing around my synapses and bugging me. Wednesday evening, that nagging caught up to me. I took a look around HIVE using the search tool for any info on BitShares.

Here's what I found:

Hard Fork To New BitShares Yesterday, Sept 10th

It was this post by @karinxxl that brought the fork to my attention.

Ho! It was Wednesday night and the fork happened on Thursday. That meant it was a now or never situation that lay before me.

Deciding on the course of action rather than inaction (or selling all my BTS), I headed right over to Blocktrades.us. Using HBD, a bit of HIVE, and a little Ether, I exchanged for as many BitShares as I was comfortable spending.

Over To Gate.io

I have to say: when I first started in cryptocurrency, making all these fast trades would have freaked me out. Concern over sending coins to a wrong address was a real stressor.

Now the apprehension is gone, which sometimes worries me too. I wonder if I'm going so fast that I might make a mistake.

Then there was the concern about having a new, unverified account on Gate.io. Would they still honor the Airdrop even though I just signed up? There didn't seem to be any problem sending my coins over.

Why Was There A Need To Fork?

Pixabay.com

The story from BitShares.org is that one of the developers put in a backdoor code that could affect the BTS voting system. This code was claimed to have been placed without a vote.

According to the BCA (BTS China Association), attempts to reconcile this coding remained unresolved. Because of this, the BCA voted to fork the recent BitShares 4.0 MainNet.

Read more about it from the source article below:

https://finbold.com/binance-huobi-announces-support-for-upcoming-bitshares-hardfork/

Snapshot Taken Yesterday & The Airdrop Went Through

I was happy to see that my concerns were unfounded while checking my Gate.io account yesterday. All the BitShares I moved there were matched, 1:1. And so I now have the same amount of NBS (New BitShares), as I hold in BTS.

This is a great way to turn a hundred bucks into quite a bit more cash. Then again, should one or both of the blockchains go down the liquidity toilet, it could end up being a big loss.

Here the point where I make the disclaimer that none of this should be taken as financial advice.

Futures Contracts Looking Good For NBS?

I came across this tweet this morning. After all, the big question now is what the starting value of NBS will be?

https://twitter.com/semicorporate/status/1303623325957136389?s=19

It sure wouldn't hurt to see double or triple the current price of BTS. BTS has lost about 40% of its value since I bought it up for the Airdrop. My plan is to use that extra coin to pick up more HIVE.

It's always a hustle here in Cryptoland, and I must admit that I rather enjoy it. Don't be frustrated if you missed the opportunity. Use it as a reminder to check into the coins you follow frequently. You never know when the next opportunity will appear.

Stay in the know amigos!

Thanks for reading and as always...

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Posted Using LeoFinance