Bitcoin Diamond: Brand New, and Already Trading

Published on 24 November 2017 by Cryptovest Staff

The hard fork for Bitcoin Diamond has gone through at the appointed block, 495,866, and OKEx has already announced trading would start.

"$BCDBORN !!! At Nov.24 GMT 9:20am !!!Bitcoin Diamond ($BCD) successfully forked at block height 495866 and 28 global exchanges launched !!pic.twitter.com/6dpjLhmZeX" – Bitcoin Diamond (@BitcoinDiamond_) November 24, 2017

Binance, OKEx and more than 20 other exchanges, mostly in China and Korea, may add the asset.

But Twitter comments were already skeptical of the wallets listed on the official site – despite the disclaimer, after the recent theft of between $3 and $4 million from Bitcoin Gold owners, no one is so brave as to try out unknown wallets for the newly mined coin.

It is also unknown if the exchanges are accepting actual deposits, or if they are trading a temporary instrument.

At the moment, YoBit is already trading the asset, revealing a wild price fluctuation between 0.1BTC and 0.006 BTC. The asset is not yet listed on CoinMarketCap. The average price on the day of the fork was around $110.

The appearance of Bitcoin Diamond coincides with a leap in the price of Bitcoin Gold, which has started trading at a premium on BitHumb. The price doubled in the last day to around $500, as users re-focused their attention on growth, while still rattled by the wallet theft.

For now, wallet providers have managed to support Bitcoin Gold. Now, it may be up to users to contact exchanges and wallet providers. For now, Bitcoin Diamond has not even released a GitHub repository, and wallet providers would need to get acquainted with the code first, as Trezor did before deeming Bitcoin Gold safe.

Bitcoin Diamond is being traded on smaller, experimental exchanges and selling it may be quite difficult without additional accounts and risks. At the moment, Binance seems to be one of the safest options, but it is best to wait until exchanges allow for deposits. The selling-off of Bitcoin Diamond may not happen immediately and actually take months.