When Does Leek Fork (When Dividing Leeks Is Good)

When does leek fork? Who determines which currency will receive the first airdrop across the network? When does leek fork?

January 8, 2020: Ethereum Constantinople hard fork.

After block height 1250000, Bitcoin (BTC) underwent its third halving, this time with the Ethereum Classic hard fork (TheMerge).

The second halving took place at the end of 2019, when the Ethereum price was close to its all-time high. The reason for Bitcoin’s rise this time was the increasing competition between Ethereum Classic and the Lightning Network.

After the first halving, the price of Bitcoin rose from $20,000 to over $40,000, an increase of more than 60%. However, it subsequently dropped to around $30,000. This halving led to a significant decline of over 30% in Ethereum Classic’s price, reaching a very low point. Therefore, many people are still concerned about the current situation of Bitcoin. However, this situation will not last long for Ethereum because many investors do not have a positive outlook on the project’s prospects. Therefore, many believe that Ethereum Classic will continue to exist, but some also believe that Bitcoin may experience another bull market. (Note: as of the end of the third quarter of 2018, we can refer to the previous article “ETH 2.0 is Coming”).

So why is Ethereum considered to be the “leader” in the blockchain field? One reason is its decentralized finance (DeFi), which is essentially a permissionless, distributed database. Decentralized digital identity also implies that there may be more possibilities for digital currencies in the future. For example, some smart contract platforms on Ethereum can use DeFi to implement their own applications or services, or even become platforms for decentralized applications or services, allowing users to complete these functions without relying on third-party custodians, thus improving transaction speed, reducing costs, and minimizing risks. If we consider blockchain technology as a breakthrough in a new economic paradigm, it may be the arrival of the so-called blockchain 3.0 era. At that time, everyone in the blockchain field will have equal opportunities for participation, just like the internet today, where you can obtain corresponding benefits as long as you have some data. Of course, if you do not have large data storage resources, your assets may be controlled by others. For example, if you hold virtual assets such as Bitcoin, you will lose investment value.

When is a Good Time to Divide Leeks

According to CCN, Bitcoin has fallen by 70% since October last year and now it happens to be the year-end.

Interestingly, in the past two months, “leeks” seem to have chosen a path: if they haven’t made money or haven’t cut their losses, they won’t invest in cryptocurrencies. Many people believe that this is because the greed index of “leeks” has dropped below 50, so this sentiment will continue, but when the price of the currency falls, panic selling behavior will occur.

Some say this is normal, but in reality, investors are often harvested in this way. For example, those who think Bitcoin is rising too fast and the price is skyrocketing will lose some of their capital. This is the so-called “leeks’ get-rich-quick mentality.”