Topic: Fork vs Bitcoin and Altcoin (Read 576 times)

As soon as the announced before November Bitcoin fork was quitted, I suppose this month we will not see any new altcoin appearing as the fork result. It might let the existing altcoins grow further.

I wonder if December, 2017 fork will happen: it can bring Bitcoin Silver.

The fork is cancelled (at least it will not happen in the middle of November), and here we see already the changes. All cryptocurrencies, including Bitcoin and the most valuable altcoins Ethereum and LTC are growing. DASH and XPR jumped high.

With the fork canceled there isn't much to yearn for in BTC territory. What I'm wondering is how BTC is still up. The only reason BTC has a rally the last months is because people were looking forward to get "free" coins after the fork. But since that won't be happening anymore, people realize that they are overinvested in BTC (how it's not yet reflected in terms of BTC price - I don't know), but eventually people will realize that it's currently over valued and will move money back into alts. The obvious players that will benefit the most are ETH and XRP, which already have the top positions, and maybe LTC. Either way it would be wise to be invested in altcoins right now because they already had a handsome boost lately and that might continue in the short term, and long term as well.

Generally, before fork, people will sell altcoins to buy Bitcoin (altcoin down, bitcoin up). After fork few days, investors will sell Bitcoin to buy altcoin again (altcoin up, Bitcoin down).

i guess upcoming fork can greatly affect the values of bitcoin and altcoin because people will likely buy more and hold bitcoins right before the fork begins to get some free forked coins and as a result this can also affect the altcoins values because people will also sell their altcoins to buy more bitcoins or they trade it straightly to bitcoin to accumulate more bitcoin balance.

Bitcoib is the best and no other crypto can destroy bitcoin, even the ethereum or the best altcoin cannot reach the status of bitcoin, and even fork, and actually ive heard fork just when i read it in the forum,and my knowledgr about fork is limited but it cannot also reach bitcoin.

Fork is the best alternative compared to the BTC. Buy the bitcoin is too expensive so fork is best today.

The truth is no one knows yet and we just have to stay on the lookout, knowing there is so much debate that has been going on with this fork right from the beginning. All the above, support has really dropped badly for B2X and I really do not see how it would end really being much of a contention as most people would drop theirs anyway.

Although, the replay protection has been a huge concern but I guess we just see how the events play out.

B2X seems to me the one that would end up not surviving the fork anyway. The only set of people supporting it are the miners and the bitcoin companies which to me do not really have much say compared to the users.

Users have totally backed out from the B2X since it seems glaring what the miners and NYA are after but only time will definitely let us know what happens eventually. One thing I am sure of is that I am dumping the B2X once I can.

The news of folk after folk if bitcoin is good for bitcoin but bad for altcoin. I will repeat. Very bad for altcoin. Altcoin is down like 80 to 90% since bitcoin cash folk. Altcoin might not survive bitcoin folk event of which is starting to occur now every other months!

We all know people will take the profit from bitcoin and buy back into al coins. Alt coins are dirt cheap now. I bet you it won't last a week before all the top alt coins moon again.  BTC will benefit from alt coins long term. Another reason for mainstream support.

Maybe, they steal the trade portion of altcoins. We all know that altcoins are dead without trade volumes, one can make crazy pumps and dumps without volume in altcoins and ico coins. That's the reason bitcoin forks are damaging altcoin ecosystem.

It affects alts because people move all of their money out of alts and into BTC in order to increase their BTC holdings and thus the amount of the new coin they will get at the fork. S2x is a bigger deal than btc cash though, and BTC could take a real hit this time around.

Forkcoins are copies of the Bitcoin source code. Since Bitcoin is open source anyone can hire someone to audit the code, and then release it by slapping a different name on it and marketing it as being better than BTC. Altcoins were already scams, but forkcoins are the ultimate scams as they are asking for your private keys to get your coins, which is a huge privacy concern.

why should creating a new fork out of bitcoin even affect altcoins? worst case scenario is that they are just adding another one to the pile of altcoins. and the old altcoins will remain the same pump and dumps they used to be before the fork of bitcoin happen!

but this upcoming fork can affect bitcoin at least in the short term. we hope the damages are minimal and the result is like before but nobody can see the future so we only speculate about it.

Bitcoin Silver is a fork of the Bitcoin blockchain that will occur in December. At the predetermined block height, Bitcoin Silver miners will begin creating blocks with a new proof-of-work algorithm, and this will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. The new branch is a distinct blockchain with the same transaction history as Bitcoin up until the fork, but then diverges from it. As a result of this process, a new cryptocurrency will be born.
The purpose of Bitcoin Silver is to make Bitcoin mining decentralized again. Satoshi Nakamoto’s idealistic vision of “one CPU one vote” has been superseded by a reality where the manufacture and distribution of mining equipment has become dominated by a very small number of entities, some of which have engaged in abusive practices against individual miners and the Bitcoin network as a whole. By changing Bitcoin’s proof-of-work algorithm from SHA256 to Equihash, all of the specialized SHA256 mining equipment will be obsolete for mining the Bitcoin Silver blockchain. Thus, Bitcoin Silver will provide an opportunity for countless new people around the world to participate in the mining process with widely-available consumer hardware that is manufactured and distributed by reputable mainstream corporations. A more decentralized, democratic mining infrastructure is more resilient and more in line with Satoshi’s original vision.

Another fork next month!  Does this mean they expect this one to fail?

Until the fork comes, BTC's price rise.
After fork, the price of altcoins increases.

Those who want to buy a new coin
They're get bitcoin and it's price rising.

If we keep having too many forks, it would end up affecting Bitcoin's immutability. Sure, we have 21 million coins and if any developer comes with its own theory that the legacy developer does not agree with, then they end up divorcing and then creating a fork.
 
Now, imagine what would end up happening it this keeps going on... it would then prove so many of these financial dudes right that in as much as the blockchain technology is here to change everything, having control is what makes it better, which I do not agree but I feel there should be a law on forks before we start seeing like 50 different UNNECESSARY forks coming up later in future as I do not see any of them improving bitcoin but just some pure developer's greed.

Now, I learned there is going to be another fork by December called Bitcoin Silver and everything about it sucks. It is best for the community to stop seeing these forks as free money but high time we started discarding them and seeing them as scams.

Upcoming fork will just bring another altcoin (copy of bitcoin) into crypto world in which few people might get crazy and buy at high prices. But within a week or month, there will be series of dump from big bitcoin holders where all newbie who have invested few weeks earlier will be eaten alive  

After fork bitcoin price might correct a little bit whiel altcoin will boom.