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Bitcoin Diamond Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Bitcoin Diamond.
Bitcoin Diamond was probably one of the most controversial hard forks of 2017. People all over the internet were speculating that the coin itself was a scam. Some claimed that it was created only to cash in on the Bitcoin brand, and others said that you could expose your personal information in claiming Bitcoin Diamond from the hard fork. As of today, no real evidence as to wether it is a scam or not has surfaced. However, we have seen extreme volatility in the price, also called “pump and dump action”, which can be an indicator sometimes.
People claiming that the hard fork was a scam, might have had good reason to foresee it as so. Because, at the time of launch, on November 24, 2017, when the BTC blockchain reached block 495,866, there was nothing released from the foundation behind it. No community formation, no whitepaper and it was hard to tell wether they even had a blockchain, because there was no source code released. They did not even have a GitHub account, and for developers creating a brand new, disruptive technology, that’s pretty much a must.
Regardless of what the less-informed blockchain enthusiast believes, the Bitcoin ledger has some serious privacy issues. Investigative companies like Chainalysis are helping Interpol, Europol and IRS (to name a few) to decode identities like never before. Apparently, developers behind BCD have come up with a way to encrypt balances and transactions on the blockchain. But this has yet to be proven. Right now, there are too many red flags circumventing this project. Therefore, we advice our readers to take caution and wait until more comprehensive information comes out.