Topic: Don't you think the BTC forks are making the Bitcoin ecosystem more chaotic? - page 3. (Read 1020 times)

For the August 1 hardfork, a lot I mean A lot of drama was going on like what is a hard fork, what is segwit, will bitcoin die or will it's price fall, will bitcoin cash will be successful and even after getting answers to such and related questions, most of the people quite didnt understand and got confused.
Segwit 2X won't be as dramatic as the one before and bitcoin gold doesn't seem like it's profitable other than its name, so idk much about it.

It was surely happen, whenever they create more confusion and disorder for the Bitcoin the more profit they may earn.

However, Bitcoin was long time immune to this circumstances, in almost 2 decades of existences at crypto world, no doubt, Bitcoin will always survive and stay on top of other crypto currencies.

Yes bitcoin hardforks are creating lots of chaos lately but as bitcoin is open source software anyone can have their own version of bitcoin when number of supporters for one version of bitcoin will grow rapidly than that will create debates which will eventually split the network and community in parts when more and more fork will happen than bitcoin community will be divided in lots of pieces which can have catastrophic effect on bitcoin network and its stability.

only for a short period of time. and that is not because of the forks per se, but it is because the market is hungry for chaos. everyone seems to love  FUDing so they can buy cheaper coins before the inevitable recovery happens. and so far it has worked for them so they will continue doing so.

but good news is that these types of fork which aren't doing anything and have no support, will just disappear in time as a shameful act by the people who supported them.

Almost all of users said Bitcoin fork are will making the bitcoins ecosystem chaostic, but in my opinion the activation of SegWit2x won't be more chaostic due to cryptos currencies are more than democracy, it is decentralize, transparent.
The users cryptos currencies be free to choose the cryptos will be used, invested based on their research of cryptos they can learn about the cryptos before being a part of ecosystem the cryptos currencies and all of informations are available.

Well there is also Bitcoin Gold fork that's supposed to happen in the 25th of October.

Forks are supposed to bring new—if not better—features to a coin that address other previously known issues that it had in the past. While this brings confusion to the market, it also allows people to choose the coin that they need depending on how they use it. However it is being overshadowed by its market causing other implementations of the coin to flop and the other one to succeed.

At the end of the day, new implementations of the same coin only has one goal: profit.

Creating confusion is the whole point of those forks - they are trying to take over Bitcoins name. Segwit2x called themselves "an upgrade to Bitcoin", Bcash supporters claim that their coin is the original Bitcoin. So, there's typically 2 groups of people who get confused - the ones who started believing in forkers propaganda and now actually think forks are "true Bitcoin" and some newbies who picked up forks by accident just because they are so unexperienced. But even the total amount of confused people is very small so forks have and most likely will fail to achieve their goals. If people just hodl their coins on their wallet and don't try to do anything without doing their research first, it's very unlikely that something will happen to them.

I imagine you're right. But for now, there remains a fairly unified front. Surprising, really.

I think we need to consider Bitmain's interests. Do they want to cause as much chaos as possible (kill the legacy chain, force its users to emergency hard fork) in a bid to promote Bitcoin Cash? Seems risky. But this seems to be the position that many BCH supporters are taking: support Segwit2x because it means that "Core loses control of the repo and will lose the block size debate." And I suspect that Bitmain has a lot more hash power at its disposal than we'd like to think.

I think we should probably assume that there will be more hashrate behind the Segwit2x chain at fork time. And the list of Segwit2x supporters (besides miners) has some heavy hitters. Major exchanges, payment processors, wallets, services, etc:


That's a scary list. And if both chains are viable, I think we can expect other exchanges (like Bitfinex) to start adding trading pairs for both forks. It'll be chaos.

It's not clear where BitGo stands. They were originally included as a signatory, but apparently that was erroneous. Mike Belshe (CEO) seems supportive, Ben Davenport‏ (CTO) is clearly opposed. Cryptic exchange between the two here:


Not sure how the market will react and which companies will get cold feet, but from the look of things right now, the Segwit2x backers are nothing to sneeze at. They can have a serious influence on the market.

things may seem "chaotic" for a short time and even cause some confusion to newcomers or even go as far as make them scared. we surely saw all of these in July before all the August first drama.

but in the long term all these things will only make bitcoin stronger. you can clearly see now that it was proven to the whole world that when you fork from bitcoin and nobody wants you, you will become an altcoin. BCH proved that.

There will be another fork, Bitcoin Gold. I think yes, this BTC forks are not good for the reputation of bitcoin. It confuses new folks who will be trying digital cash.

I have to agree that new people that are becoming interested in cryptocurrencies can get confused. There were few Bitcoin hard forks in the past. We can't prevent this from happening. It will be interesting to see who will withdraw from the New York Agreement. Bitcoin Core developers are not supporting it, aren't they? I still have to do some additional research before I make up my mind.

Block size increase = More space on harddrive = Less people can run nodes = Centralisation

That's what people who are against Segwit2X say, am I wrong?

It's chaotic but it's uncontrollable. Everyone is able to do whatever they want. You could create a fork of bitcoin too, but unless you are really influential and have actually good ideas nobody is probably going to even use your fork of btc.

Plus, forking can be good as well, as it upgrades the system to prepare for the future.

It does not always contribute to confusion or chaos.

I agree it's making it more chaotic, the investors also confused on which coin to invest and what is the additional feature that the new coin offered, I think the forking only making the Bitcoin looking weak and for sure it is going to impact the price and the trust from the investors
And I don't see any relationship between the forking and the LTC

The more forks there are, the more lovable LTC looks. Then again if it got big enough forkers might descend on that too.

I agree that it's not benefiting anyone but anyone is also free to do it and it can't be stopped. 2X is the big one though. That could be far more damaging than BCH. Because of that I think we'll see more supporters chickening out near the time.

The forks are definitely making the ecosystem more chaotic. They're confusing investors, for sure, and causing significant uncertainty for the market. Services supporting the forks aren't helping. The logos for BTC and BCH in the Copay wallet are nearly identical. It's almost like they want people to mistake BCH for BTC.

It'll be interesting to see what happens in November -- whether we'll see miners and businesses defect or not. For now, it seems like the NYA signers are moving forward with the fork.

Not sure what LTC has to do with anything. I've thought LTC was going to die a hundred times, but it keeps proving me wrong.

there never was any confusion about Bitcoin Cash. it was always an altcoin and still is, simply because it never had any support from anyone. not miners, not businesses, not user, not nodes, not developers.

the same will be true about SegWit2x. look around and try to see how much support and from whom it has that support. it may not be clear right now but it will become clearer as we get closer to the date and we can see the support and where it is coming from.

and in the future whatever fork has the support of majority will be considered BITCOIN and everything else an altcoin.

what does Litecion have to do with any of this?
litecoin is a completely separate and stand alone altcoin with its own developers, own community and users,... it doesn't matter what happens with bitcoin different forks LTC will be LTC.

Bitcoin Cash really confused me at which is the real BTC.
And the forthcoming SW2X is making a new puzzle.

BTW.
Question: Will the silver LTC gradually die after SW2X?