Fork Fork Fork, What Does This Mean To You?


NYCflash.me is doing great, and we are open for business. Make sure to visit Grenzland Crypto Club, where our President and General Manager Sami Ahmed can be found. He is usually happy to answer any and all questions you may have.

Remember that we are not an exchange, but a service. Our aim is to help you understand what you are purchasing, the staying power of it, and how to become not only a user and holder of NYCoin, but also an ambassador for this amazing blockchain protocol.

If ever you have any questions or need advice regarding your NYCoin, please reach out at contact@nycflash.me.

NYCoin will be having a fork soon.
This means that NewYorkCoin will be building upon its existing technology with new code to give NYC more ability to do things, but also reduce high inflation.

Currently miners of NYCoin are rewarded with 10,000 coins every 30 seconds. This adds a lot more coins to circulation which keeps the value of our coin lower than we like it.

After the upgrade miners will be paid 5000 coins every thirty seconds. Upgrades will continue until the rate of reward is only 50 NYCoins per block.

Simply put after the fork, there will be less NYC added to the current amount of coin
This will bring deflation, and should make all of the coins more valuable. There will be less supply. This means more demand.

The fork will also make the coin more secure
This will be done by updating the code base which has not been changed since 2014. This means that the locks have not been updated on our NYCoin home since 2014. This is a lot of time in internet years.

It is time to make our coin more secure.

Luckily, our developers have all the tools they need to make this happen.

What will happen to my existing coins?
Nothing.

The NYC Official Website is advising that you upgrade your wallet as soon as possible once the upgrade is released. For those of us using coinomi, NYC-web wallets or discord, the updates will be done for us.

For those who have other wallets, please check for specifics on the NYC Community Official Discord but keep in mind that although you are being encouraged to update as soon as possible, there is no danger in the fork.

Because no coins will be burned
The fork will reduce inflation and make our coins more secure, but all existing coins will still remain.

Lost wallets will retain the coins lost with them.

Broken hard drives will take the coin to the grave with them.

Forgotten passwords will keep the coins forgotten but in existence.

All coin in existence will stay in existence.

All NYC in circulation will stay in circulation.

We firmly believe that the fork is going to make them a whole lot more valuable than they are now.

Are you ready for the fork?

*images from nycflash.me

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