After the success of the Bitcoin Cash hard fork where Bitcoin was essentially copied but this new copy was controlled by a new team of people which is why anyone holding a private key has the same amount in both currencies.
Now, just like the boom in ICOs, anyone who thinks they can pull off something similar wants to give it a shot.
The money doesn’t come straight away, what they get is the ability to say they were the founders of Bitcoin X.
The latest one is from a punch of Chinese called Bitcoin Gold and just like everything Chinese they are stealing all the innovation of Bitcoin Cash, slapping “Made in China” on it (like its a good thing) and calling it their own.
Why would they do this you ask? Well apart from being Chinese? The easier way to answer that is why would they not do it? They get to be the Chinese satoshi nakamoto experts in all things copy and paste. Plus they have influence in the mining market.
What made Bitcoin cash so appealing is the ROI on mining power and the restoration of the low transaction fee that priced Bitcoin out of the micro transaction market.
Then again it could be a slam dump and overtake Bitcoin like Coke Gold overtaking Coke. Who knows, either way I will collect them with my private keys then probably transfer them immediately to Bitcoin Cash, all 0.05% worth 🙂