Bitcoin Diamond: More Free Coins, With a Warning

With the ban of ICOs in China, the rise of another scheme was seen- the Bitcoin hard fork as a source of funding. The advantages of a Bitcoin fork are an instant brand association and a community of interested users- all owners of Bitcoin would receive a corresponding amount of the new coin at the time of the fork.

And in a few blocks,Bitcoin Diamondwould appear:

"Disclaimer: the Bitcoin Diamond Organization (btcd.io) cannot take responsibility for third party providers, such as the listed exchanges, wallets, sites and pools. All links hosted on our domain are by community members and third parties and by clicking on any of the listed links you are accepting the risks of using the third party domain and taking responsibility for any losses, damage or other issues using said domain. Crypto-currencies are inherently risky and investors and users must remain vigilant."

As theexperience with Bitcoin Goldhas shown, the community starts the project with many concerns and questions, and the team and community are distributed globally- so thorough due diligence is sometimes impossible.

But while Bitcoin Gold had well-known team members and still managed to attract a scammer that proposed a wallet, Bitcoin Diamond comes up with three anonymous developers, listed as "EVEY", "007" and a third that does not even have a pseudonym.

Bitcoin Diamond, which will come with 210 million coins, does not even have a GitHub page, it links back to the main site. The team claims it would publish the code after the hard fork. So far, there are scarce announcements and little activity on the Telegram channel.

There are 22 more blocks until this hard fork, and only after a blockchain has been created it will be known if mining works and if actual digital assets were created. Bitcoin Diamond futures are not traded, as was the case with Bitcoin Gold, and the asset is not yet listed on CoinMarketCap.

The best approach for new users is to wait for official wallets to integrate an asset, instead of risking exposure of the private keys and seeds.