Please Read This Entire Post & TAKE ACTION
Before Jan 9th, 2018 At 1:00 PM GMT+1.
This is an amazing opportunity for all CybCSec (XCS) coin holders.
It has come to my attention (thanks to Evgeny Kasperovich) that the CybCSec (XCS) coin will be forking into a new coin called ARMR due to a lack of a working CybCSec blockchain and functioning development team.
The details of this fork can be found on a pinned post their official Telegram Channel (you’ll have to be signed up to Telegram to read it). However, I’ll list the most important details and steps you should be taking before Jan 9th for all coin holders in the remainder of this post.
- These are the offical CybcSec News Announcements here.
- You can also find some excellent info on this Reddit thread.
- ARMR on Medium
- ARMR Offical Site
- ARMR On Reddit
- ARMR On Twitter
- ARMR Official Telegram Channel For Most Important Updates
Now after reading some of that it will seem like the XCS coin is literally going to evaporate into thin air, and the team will abandon it. So why would I still invest? Simple. Because the “good guys” on the team are forking to the new coin.
What Is A Fork?
A fork is what happens when a crypto currency splits off to form a new coin. This has already happened multiple times with the two most popular examples being Ethereum forking into Ethereum Classic, and Bitcoin forking into Bitcoin Cash. The physical development team (real people) actually leave the original team and start a new coin with a copy of the original source code of the software, and modify if to make the new coin. There is a split of both software and development team.
Why Is It An Opportunity?
When a fork happens, you can typically keep your original coins (in this case XCS), and if you have them stored properly in your XCS wallet, you’ll receive an equal amount of the new coin (in this case ARMR).
This becomes an opportunity because you will retain your original coins PLUS receive the new coins in an equal amount. If you have 10,000 XCS in your wallet at the time of the fork, you’ll receive 10,000 ARMR for free.
When Bitcoin forked into Bitcoin Cash, if you held 1 BTC (worth around $20,000), you also received 1 BCH (now worth around $2800). It’s basically free profit (or value) if both coins succeed.
The worst case scenario after the fork, is both coins fail and you lose everything.
The best case scenario after the fork, is both coins succeed and your investment balloons.
But I’d rather have two shots at success for the cost of 1. Meaning you only have to invest 1 time, to hold both coins. If either or both teams succeed, you win.
Here are the important details from the pinned telegram post that you need to pay attention to.
FROM The Telegram Update:
If you have your coins (XCS) in your wallet before 9th January at 1:00 PM GMT+1 you will be eligible to claim your ARMR in the snapshot. There will be no second time, no other ways to get in. So, get your coins to a desktop wallet (downloadable from CybCSec.com).
After your coins are in your wallet it is almost time to relax. You need to ensure you have a backup (we recommend having more than one in more than one location) of your wallet.dat file (from your XCS wallet). as you will need it to claim your ARMR coins.
What Do I Need To Do To Take Advantage Of This Upcoming Fork?
- If you don’t hold any XCS coin, but you’d like to take advantage of this for, go to CoinExchange and buy some XCS now! If you already hold XCS, than goto the next step.
- Download the XCS Wallet from their website. Make sure you grab the right wallet type for your operating system.
- Open your wallet and let it FULLY sync. It should happen automatically once you open the wallet. Your wallet will have to download the entire blockchain (239,539 blocks), so this could take a while (it took mine approx 30 mins). Leave your computer ON while it syncs.
- Once the wallet has fully synced, do a VERY SMALL transfer for your XCS coins from CoinExchange to your wallet to test that you receive the coins.
- If Step 4 was successful, move the remainder of your coins to your wallet.
- Most important: Make sure once all the steps above are completed, to leave your wallet OPEN and ONLINE on your computer for 9th January at 1:00 PM GMT+1. This will allow the snapshot to take place and ensure you’ll receive your ARMR coins when they release in March.
Once all your coins are safely stored on your wallet, you’ll receive instructions on how to receive the new ARMR coins.
FROM The Telegram Update:
When we release the new ARMR wallet, you will be able to use your XCS wallet.dat file to claim your ARMR coins (we will give instructions how to do this), and you will get to keep your XCS coins to do whatever you want with them.
Ok that’s it. Hopefully you take advantage of this huge opportunity, and we all make some nice profits! If you have any comments or questions, please leave them on this post and I’ll do my best to answer them all in a timely manner.