Topic: Forks affect BTC positively (Read 285 times)

BTC forks have created an aura of free goodies in the market. At the time BCH or BCH forking, investors took out their money from alt-coins and start buying BTC to have benefits of a free hard fork coins. But i think these hard forks are unable to fulfill the expectation of users and BTG seems to a useless crypto-coin. After this, investors are not at all interested in these Hardforks, and all the forking that is going to take place in month of DEC is going to be flop and useless.

Thinking from another angle wherein Bitcoin stumbles upon problems that the core has no solutions for, these so called forked coins could take the lead over Bitcoin not just by price but also usage. This could inevitable lead to the original Bitcoin being overturned by the developers of forks and taking over the name with their own *insert fork coin name here*

If we see the ideal theory of forks they surely are quite important to nurture bitcoin to its true destination. But lately these forks are becoming quite useless. Usless in the sense that they do not really provide any utility to the bitcoin network as a whole.

If usless forks like diamod and others continue to exist even the forks which are very essential to the overall stability of bitcoin will go certainly unnoticed. The fact that some of these forks are done by a specific group is even worse because it harms the centralization idea of bitcoin.

I think that forks dont affecs BTC positively. Maybe when the hard forks happen, the demand of Bitcoin will increase and the price also go up. However, it's not real. After fork, the price also recude as fast as it increase.

I feel as if forks make people who already hold BTC feel as if they are getting free money. And investors looking in want to get that free money so they hop on the wave and the BTC price rises for a couple days before the fork, then drops after the people have gotten the fork.

I must say I don't agree. Looking back at recent forks I could say that forks haven't done anything good for bitcoin, on the contrary too many forks in too short period of time, too many bitcoin connected coins, I can't see how this contributes to bitcoin. It has only made confusion and split the community.
And recent fast price growth has nothing to do with forks.

I suppose it's because investors feel like they are getting "Free coins" hence the increase in value.

I think a small number of forks have a positive effect on the perfection of the special currency, but now too many arbitrary forks, some of which have been excavated in advance, are deceit. I don't think the fork can continue to develop.

I think forks primarily affect BTC positively because people buy more bitcoin when there is an upcoming fork. For the wrong reasons tho because sometimes i feel people buy not for the technology or protocol upgrades, but rather for the "free money" they stand to get once the new fork comes live. Some people even have started to call it "bitcoin dividend."

I don't think that forks have helped bitcoin in any way. Instead it took away few billions of market cap from the bitcoin network. Fork did not improve the bitcoin network as well. The network of those forked coins have changed but bitcoin remained the same. Lets do a little calculation,

The market cap of bitcoin cash: 22.4.billion USD
The market cap of bitcoin gold: 3.7 billion USD

So, the last two forks have taken away 26.1 billion USD of market cap from bitcoin network which is a daylight robbery. If this amount of market cap stayed with bitcoin, today we could have seen the bitcoin price reaching almost 20k USD. So forks are no good for bitcoin, it is just a separation which didn't help bitcoin in any way.

I think having a consistent trading price of over 1200 USD is far from going down in flames. I'll agree that it hasn't, and likely won't, overtaken BTC but to say it was a complete failure is incorrect.

I have no issues with forks what so ever. In, fact they proved themselves to be a blessing to btc rather than evil (contrary to what I thought once they started talking about BCH back in July). I thought that somehow a fork could "steal" the lights from bitcoin and make our original coin useless or with a lower value. I didn't fully believe that it could happen but it was a thought I had.

With new hardforked coins, comes a lot of benefits to BTC itself. First of all, these forks advertise themselves everywhere and not only to the crypto community. This means new people who have never used crypto are hearing about bitcoins and some of them probably end up buying and investing in it. This is basically free advertising for btc. As a lot of newcomers search and know what the deal is.

This means that forks get more liquidity cash into the crypto world. Which means more options for services and miners. I guess possible upgrades in the future for btc can benefit from what these forks have to offer if they stand out.

But I'm only with forks that are actually useful and are not just money grabs by the devs. I'm talking about the latest fork I know of which is the Bitcoin Diamond, it literally offers nothing new or worth even looking at. And of course its price got exactly were it should be. It's constantly going down everyday and it will stay that way until it dies. I just want forks that do find something in btc that can be improved and utilize that. BTG was actually one that kept me interested until they announced that there is premine and I just left it at that point at once.

Many Bizcoin holders are keeping their Bitcoin to gain the new alts.  So it seems to have positive effect on Bitcoin. But now I see also ETH tokens, that suggerate users, they were also a result of split in some kind . Hope, that trend will not continue to cheat people. The worst thing was on waves platform with fake Bitcoin.

I personally disagree with this argument. Forks do not have an effect on bitcoin's future. They're just doing there by themselves. Bitcoin is not linked to bitcoin forks. BCH made some speculation only, but it went down in flames.

I think that the forks have a positive effect on bitcoins. Separating coins have improvements that the original bitcoin itself did not have and this also makes it better. That is, there is a healthy competition. If there are no plugs, then there will be no competition. There will be no competition, then there will be no motivation to improve.

This endless bickering is really wearing, and I can understand, and agree with, the statement. I'm sure the Bitcoin developers will be looking at the new coins, and I suspect we will see some of the innovations incorporated into Bitcoin.

I've got the same problem with some in the domain industry. Received wisdom is that a pro domainer will buy a name for $4,000-$25,000, and he will wait a few years for someone to offer him 2 or 3 times that amount for the name. I think it is more fun to pick up a name for $9 and sell it for anything between $25 and $950, and take the proceeds in Bitcoin. I'm getting a lot of negative comments for adopting this approach, and I'm constantly told that I'm wasting my time. Personally, I think it's better than working the faucets.

Good luck to some of the new coin developers, I must spend some time and decide on 3 or 4 to support.

Hi there, I hope you do well.
I read an article on coindesk talking about how forks improve BTC behaviour ( PS : these forks must meet some criteria ) where a sentence took my attention " Forks offer ideological leaders the chance to put their ideas on improving protocols into practice without getting bogged down in endless bickering with others. "
I let you with the article : https://www.coindesk.com/forks-might-help-bitcoin-reach-true-destination/
What do you think gays about the influence of forks on bitcoin ?