Be aware of looters.

Yet another China developed clone on its way.

Cheap product, easy gain.

Yes, it is happening, one Bitcoin blockchain clone after the other. It is the next get-rich-quick scheme. The first one to pull that trick was Bitcoin China, BCH. It was developed in China, cloned there, mined there, centrally controlled there and currently pumped there. Often supported by some well known people in the Cryptos realm. When looking at the numbers and figures the BCH, ViaBTC/Bitmain, version is not mining that well, and the amount of transactions per day are way behind Litecoin. Not even compairing BCH to Steem, because then Bitcoin China becomes a laugh. But not it has a Chinese based exchange and a clone or more of their own coming, so there might be some market pumping there.

Bitcoin, BTC, itself is mining at 15.2 Exa Hashes per second, while the China version BCH does not get passed 6.666% of that. Yet, one can expect it to go up now that the Chinese can trade in their own Bitcoin blockchain clone. Bitcoin BTC itself should be getting somewhere at 21 thousand US Dollar value soon. Before the holidays are coming. The Cryptos market is really booming business. Where Bitcoin China, BCH, seemed to have gotten away with cloning and looting part of the value of the mined BTC, claiming they have the right to do so, others will try it too. We saw Bitcoin Gold suddently appear in the top ten, using the same trick. Another looter entered the scene, good thing the Nakamoto Satoshi group did not put a cap on the amount of Bitcoin to ever be released. And hey, who is still mining Bitcoin with a CPU by the way? It says so in the holy Bitcoin scripture... That is why I asked.

United Bitcoin could be a scam.

Now, you might know I am calling out BCH for what I see it is, a Chinese orchestrated and centrally controlled Bitcoin blockchain clone. From an economical point of view I can even understand that this happened. And I wonder when the four year planning starts for BCH, by the Chinese government. How to keep the Chinese capital inside that country instead of moving into Cryptos outside of their central control? Suppose you had to solve that. With a lot of Chinese people investing in Bitcoin, BTC. Well, it looks like, with the help of some well known people in the cryptos realm that they are making progress. So, go ahead, buy into BCH... But remember that the facts are all there, it is Bitcoin the China clone, nothing else. And talking about Chinese clones...

United Bitcoin, UB, looks like a scam, it has stated that it will use the locked in BTC, after they have cloned the original Bitcoin blockchain. Now that is the part that worries me the most. First of all, how would the UB team be able to steal those freezed Bitcoin, meaning possibly those of HODLers too? Now that is looting millions of Bitcoin BTC by cloning its blockchain. Then some weird story how they would then stash all those stolen BTC, cloned to UB, into multi-sig addresses and start a hand-out with that. Where they will probably keep a lot to themselves. This sure would make some people that HODL Bitcoin, BTC, a kind of nervous. Is it possible that United Bitcoin could pull this off? ONly those who moved their Bitcoin, BTC, to one address before the hard forking UB clone could get theirs out again. Ough, that looks like some real FUD creating a lot of Bitcoin transactions. What is going on here?

Cheap Chinese developers.

Based in Hong Kong the so called United Bitcoin team(?) is creating what seems to be one big looting attempt. This stinks rotten all the way trough and surely people will give their current Bitcoin, BTC, private keys, sure they do. The scary part is that some will actually do. Yet, the most crazy part of the claim made by United Bitcoin is that they are able to get out all the locked in Bitcoin, BTC, after cloning the blockchain. If that would even be possible that this is a real danger. They would need all those private keys, meaning they have found a way to take public addresses and turn them into private keys again? Or am I missing out on something here? So, it sounds like a big pile of bullshait. Getting a lot of value out off locked BTC addresses and use it as to see fit. That is just plain theft. What is the catch?

Fishy, it stinks, the whole website, all the claims, or am I missing out on something? United Bitcoin seems to be really going for it, cheap Chinese developers, operating from a part of China, Hong Kong, what is going on here? And in the meantime one forking Bitcoin blockchain clone after another hits the Cryptos market. First it was just forks, some real good ones, like Litecoin, Dogecoin and so on. But there were also ready-steady-cook made forks, that one could order, even websites were made, logos designed, if one wanted to pay the price, in BTC of course. Where every there is wealth to be made also get-rich-quick schemes will rise to the occasion. Remember the ICOs? Seems so long ago already, but also there were legit versions and next a lot of looting scams. If one wanted ready-steady-cook made, including a website, logo design and even Social Media promotion... Yes, bots, but very clever ones. But those projects cost quite a lot of BTC to get going. Get rich quick, start an Fork or an ICO, next up? Blockchain Cloning...

Blocking cloning business.

After lots of forks and icos, blockchain cloning is big business. For China it was a way to keep their capital inside their own country by creating a centrally controlled Bitcoin clone. Now some fell for that and bought into Bitcoin China, BCH, and hey, if there is profit to be made then even evil is just a business partner at the end of the day. And if that works, and Bitcoin Gold gets in the top ten of the crypto currency market, then why not create a team of cheap developers and clone the shait out off the Bitcoin blockchain? It is well known brandname and the momentum is here. Just imagine only a fraction in the prospects of a trillion USD market. Bitcoin might to many people might be the only Crypto out there. So, sure, get anything that has that name attached to it. Even if it makes ludicrous claims, like being able to free locked Bitcoin, BTC, value using a blockchain clone.

To my knowledge it is impossible to get value out off public Bitcoin, BTC, addresses, without having the needed private keys. And it sounds even extremely dangerous when I read the so called instructions to get ones own United Bitcoin. Moving all ones BTC to one Bitcoin address before the clone blockheight has been reached? What kind of weird request is that? If it is a real forking clone that is not even needed. At least I have to hand it to Bitcoin China that one could just create a BCH wallet using ones own BTC private keys and hey presto! Same for Bitcoin Gold, BTG, bGold, no strange sending ones Bitcoin to one address before the forking clone block was reached. This would have caused a lot more traffic on the current Bitcoin blockchain too. And that one already was a bit congested, well a lot, actually.

Stay away from United Bitcoin!

Now the next step would be, after people moved their Bitcoin to one BTC address to get their private key of that and move it to... OOOOOH WAIT A MINUTE! Please keep your private keys to yourself, this whole United Bitcoin thing smells like a huge swindle. No matter how proffesional it looks, stay away from it. Looks can be bought, please be aware of this. In the upcoming days it will become clear that UB was unable to grab the locked in value from the cloned BTC blockchain addresses. Let us expose this fraud. And be aware there is only one Bitcoin and that is the BTC one.

May the cryptos be with us!

The looting business of Bitcoin blockchain cloning.
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Image CC0 licensed.