As you know, KaratBars was supposed to merge their two coins, KBC and KCB on December 16 which was called the Hardfork day.
Now the question is: Was this process done or not yet? And, if it was done, how the KBC and KCB coins were merged?
The other question is: Does the Karatbars Stock Market Launch have anything to do with the Karatbars Hardfork Day?
I will explain everything in this article, so that you will know what is going on now and what you should do.
Please read the below words carefully.
Please note that this article is not an investment advice. You understand that you buy/sell/convert/trade/exchange/invest etc. at your own risk.
KaratBars Hardfork Day
KaratBars was supposed to merge KBC and KCB on December 16 and create the new coin which was expected to be called GSC. They didn’t do it right on December 16. But it seems it is done now with some differences:
1. KBC and KCB Haven’t Been Merged, But…
Indeed, KBC and KCB haven’t been merged to create the new coin. KBC which was in the cryptocurrency market since long time ago is now like the new coin.
Even they haven’t changed the name of the coin, but it is possible that they do it later, which is not that important. It is just a name that doesn’t make any difference if they change it or not.
The interesting thing is that KBC will be changed to the new coin within the next 6 months. It will be done automatically and it doesn’t need you to do anything. All you have to do is transferring your KBC coins to your KaratBit account. If you have KBC coins anywhere else, move them to your KaratBit account as soon as possible.
Indeed, you can consider the current KBC coins you have in your KaratBit account, as the new coin. They may change the name later, but this doesn’t matter.
It means, in fact the Hardfork has happened, but without merging the KBC and KCB coins, which is good. Why do I say it is good?
I say this because now they have given you two options:
- You can convert your KCB coins into KBC if you want.
- If you don’t want to do this, you can hold your KCB coins with the value of €0.14.
Please keep reading. I will clarify everything 😀
2. You Can Convert Your KCB into KBC
KCB and KBC haven’t become merged. So your KCB coins are still there. But now you have the option to convert your KCB coins into KBC if you want. Each KCB equals 2.54 KBC. It means if you have 100,000 KCB, you can exchange it into 254,000 KBC coins.
How this 2.54 rate has been calculated?
It is based on a calculation which is done based a one year average of the highest (0.126064) and lowest (0.014298) price of KBC on the market (which is 0.070681 or 7 cents); and the average price (open, high, low, close) on the 15th of December:
(0.054594 + 0.060942 + 0.026930 + 0.059149) / 4 = 0.050400 or 5 cents
Now if we get the average of these two numbers:
(0.070681 + 0.050400) / 2 = 0.06054
This 0.06054 is indeed the average of one year of KBC’s price fluctuation (0.070681) and the average of the KBC’s price fluctuation on 15th of December (0.050400).
Now, as each KCB coins has a value of €0.14 that equals 15.38 USD cents, then each KCB is 2.54 of the KBC’s average price we calculated above:
0.1538 / 0.06054 = 2.54
1. First they’ve calculated the average of one year price fluctuation of KBC from 15th of December of 2018 to 15th of December of 2019 which is $0.070681.
2. Then they calculated the average of the open, high, low, close price of KBC on 15th of December 2019 which is $0.050400.
3. Then, they calculated the average of these two numbers which becomes $0.06054.
4. Finally, they divided the KCB value in USD into $0.06054 and reached the 2.54 rate.
You don’t have to understand the above calculations. All you should know is that now you can convert your KCB coins into KBC until 4th of January 2020 and withe rate of 2.54. You won’t be able to do this after 4th of January 2020.
How to Convert KCB to KBC on KaratBit Dashboard
- Login to your KaratBit account.
- Refer to your account dashboard.
- Click on the “Exchange” button in the KCB row.
- Enter the number of your KCB coins.
- Click on the “Exchange KCB” button.
3. KBC Coins Will Convert into the New Coin
The current KBC coins will change to the new coin within the next 6 months. If you have KBC coins anywhere else, you must move them to your KaratBit account as soon as possible.
Do it now. They say you can do it until June 2020. But I would do it now.
Indeed, the KBC coins you currently have in your KaratBit account is the new coins we were supposed to have after the Hardfork. Just they haven’t changed the name yet which is not important to us.
So the Hardfork has been done the way I explained above.
4. If You Don’t Convert Your KCB Coins into KBC…
What will happen if you don’t convert your KCB coins into KBC by 4th of January 2020?
They will stay in your account with the value of €0.14 for each coin.
For example, if you have 100,000 KCB coins in your account, their total value will be €14,000. They have this value even now. However, you won’t be able to exchange them into KBC after 4th of January 2020.
If you don’t exchange them into KBC by 4th of January 2020, you can use them to buy the KaratBars’ shares on the stock market.
Maybe you will be able to withdraw them too. But I am not sure about this.
KaratBars Stock Market Launch
Another good news we have received these days is about the KaratBars Stock Market Launch.
It is a good news for the KaratBars’ affiliates and coin holders, because entering the stock market for a company equals growing faster and having more value on their assets, products, services, etc.
The most important thing that all of us care about is the value of the KaratBars’ cryptocurrency which is currently called KBC. Many of us are holding thousands or even millions of KBC coins. We expect the KBC’s value to go as high as possible. Entering the stock market can boost the KBC’s value for several reasons.
What I Am Going to Do:
I will exchange my KCB coins into KBC because I am not interested in buying the KaratBars’ stocks. I am more interested in having their cryptocurrency, because I think it will make more profit in future and it will have less risk. It is even possible that I buy and hold more KBC coins in future.
This is not an investment advice. You have to think and make your own decisions at your own risk. I just talked about my preferences.
When Bitcoin became accessible to the public, nobody could imagine that it could reach $19,459.50, but it really did it.
Nobody can predict the future of a market. But we can analyze a market and calculate the risk and profit probabilities. When you are in the right place at the right time, there is a higher chance to make profit.
In case of KBC, there are some important factors that the other cryptocurrencies have never had:
- There is a company behind it.
- It is backed by gold.
And, we are in the right place at the right time, because the KBC’s price is still very low. You can buy hundreds or even thousands with a small amount of money that you can easily forget about. Then, you can hold and wait. When a cryptocurrency like Bitcoin that had no company behind, and was backed by nothing, went that high, it is highly possible that KBC goes even higher.
Again, this is a not an investment or trading advice. It is not a prediction as well. It is just my personal opinion.
Always invest the money that you can afford to lose. If you do so, you will never be in trouble.
This is how the Bitcoin market behaved during the past several years. It has lots of things to teach you:
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