Topic: Is crypto politcs bad for the Blockchain industry? - page 4. (Read 17030 times)

Exactly. The effects of crypto politics have done more harm than any good. Separatists of a specific blockchain, would do whatever they can to ruin the image or reputation of the original blockchain. Bitcoin Cash started well with many people supporting it. However, after the hard fork, the perception has changed due to the incompetence of devs and leaders from both factions (BCH and SV) trying to usurp power over the original BCH blockchain. Now, we have two completely different chains with nearly the same vision from one another.

As such, both BCH (ABC) and BSV aim to scale in the same manner by increasing their block sizes. Of course, BSV may have activated some OPCODES that were disabled in BCH, but it doesn't make it much different from the original chain except for a few minor tweaks. Real innovations and development are what makes a cryptocurrency unique from others. So far, Bitcoin SV hasn't implemented something impressive that's not available on other coins. On the other hand, Bitcoin Cash aims to adopt Avalanche consensus, but its current state is like many altcoins we know and love today.

Instead of the Hash War taking place back in Nov 15th, 2018 both sides (Craig and Roger) would've come together in an agreement to preserve the image/reputation of the BCH blockchain. But due to political and economic interests, that didn't happen making many people lose hope in crypto. Even if Bitcoin (BTC) didn't had anything to do with this, it was surely affected in price, probably because BCH carries the Bitcoin branding/name making people believe that they're the same thing.

Nonetheless, I hope that the events occurred on November will be a lesson to many when considering splitting from an original chain. Just my thoughts

I think crypto politics is not necessary at this early stage of the blockchain technology development,what the crypto community needs now is maximum cooperation,politics would  always divide us

Depends on the politics. If you look at the ethereum classic and ethereum parts you will see that it was a good fork for ethereum which increased the price of it by a lot and helped the crypto space with all the new features they brought into their blockchain as well, all the tokens and ICO's and collectibles and many other stuff on the ethereum blockchain today owes a big thank you to that fork and the team behind it.

Still, like the OP suggests the bitcoin cash war didn't helped anyone and hurt the economy too badly that we still couldn't recover from. Which means politics just like in real life could affect crypto space in a good manner or bad manner, it doesn't mean it will have just bad or just good results, it all depends on the politics and how it is implemented.

I do not think that crypto politics is bad for the e blockchain, we are coming to realise now that the Governments all over the would has seen blockchain and know the potential even though many are not acknowledgjng it because if Cryptocurrencies but the advanced ones are already looking for ways to tap into the Blockchain revolution, others would soon follow suit.

Cryptocurrency policy in any case will have serious opportunities, because by and large everything in it is turned into anarchism. That is, everything is actually very interesting and smarter than we think.

Most of the time in political war common peoples gets suffered & in this crypto political war between Craig wright & roger ver took the price of BTC from 7000$ to 3200$. Because of this political war small investors got hurt & the whales accumulated more BTC & top altcoins on their portfolio.

They may not be harmful, but they do not bring benefits either, they are only interested in benefits!

I think all this controversy in the crypto area is not good.
The communities break apart and weaken themselves.
Moreover, all these forks are very confusing for people who do not have much to do with crypto.

I think that this is a big and very confusing game, which in the end will be very beneficial to the creators of these currencies.

It is extremely bad for project! Look, this politics caused to dump. Futhermore I will never buy neither bch abc nor bchsv.
So it affects bad for crypto currency industry in general.

Why did these two have some supporters? First Ver split the community and then he splits his own community. I wouldn't wonder if he will once again split til all are split in half, I guess this is how they divide and conquer Bitcoin in the end. Poor judgement always affect everyone in the circle.

But then of course even if he reads all the comments here, they wouldn't mind because money in their pockets blinded them already.

For an industry as young as the crypto industry, negative influence from politics could be very bad and even lead to a total shutdown of the industry. It depends greatly on the direction politics play in shaping the crypto industry but I am afraid, like we know, the baggage associated with politics is always never a good thing.

I am really not that political man even though there are several meaning of politics. But for me, I think it is something like conflict of anything. I may say that healthy competition is better because not all projects can always be accepted and implemented. We need to justify our main purpose and goal. That way, we really need to be very wise and careful in supporting a certain project.

The only thing that harms the reputation of crypto industry are the scam ICO projects. We need to find a way of how to eliminate such projects from the very beginning and to protect investors from fraud ICOs.

I see the main product of block is best suitable for cryptocurrency and for the legal transaction that it can induce to the people. Well, block chain ensures security and trust and that best fits the topic about money, it needs to be fully secured and robust that it needs the blockchain.

Agree. Over time, BCH and BSV will just fade away as they won't be able to serve a purpose in real life. Most of the Bitcoin forks known to date, were created with the mere purpose of greed. There's no real vision in making Bitcoin and Blockchain technology better for the world. Adhering to crypto politics, will only make the Blockchain industry look bad, as people will lose trust/confidence in it.

While it's true that many altcoins are overvalued these days, there are only a few cryptocurrencies which are quite undervalued given their scarcity, and active development within the mainstream world. In my opinion, Bitcoin should've been worth at least $10,000 to $20,000 now, because its supply is very limited. Also, its block reward is halving every 4 years, which should have a positive increase in price anytime soon.

If you watch closely the market, you'll notice that prior to the Bitcoin Cash hard fork, prices for Bitcoin and other cryptocurrencies were a lot higher that what they are right now. Once the Hash War started, prices started to decline massively across the whole crypto market. Of course, one cannot deny that there are whales in this space looking to manipulate the market at all costs. However, things would've been better for crypto if all this mess wouldn't have happened in the first place.

I guess that if Craig didn't split the BCH blockchain into BSV, then the hard fork process would've been smooth, and the market would've been relatively stable. Then, Bitcoin would've remained in the $6k spot than the $3k spot we've been experiencing for a couple of months.

Nonetheless, I hope that crypto gains its reputation once again, with upcoming developments that are sure to put an end to the lack of privacy and scalability.



Yes. In my opinion, crypto should be apolitical as it was created with freedom in mind. The main purpose of Blockchain technology is to eliminate middleman or third parties. Considering how some cryptos (like BCH and BSV) have affiliated themselves with public figures (such as Roger Ver and Craig Wright) it greatly defeats the purpose of Blockchain. Both Bitcoin Cash and Bitcoin SV are extremely centralized projects guided by their leaders every step of the way. With crypto politics in mind, each side defends their view of how Bitcoin should scale for the real world.

However, such scenario is not ideal, as it would cause confusion and more harm to the crypto space than any good. Which is why, both sides should work together to make Bitcoin and Blockchain a better place for anyone to enjoy. I'd be surprised if another Bitcoin fork emerges with the ideal of taxing the Bitcoin blockchain to accelerate the development of cryptocurrency. If this happens, then we'll be seeing another fork from the BCH blockchain named Bitcoin Tax.

I think that politics always ruin every area in economy. Smart people always try to earn money, politics try to take more taxes from them. They make our lives harder and crypto is area withould politics, please save it.

If politics get involved in crypto that would be the end of every vision and principles this industry has. Politics is about owning and domination, something that crypto is against.

To me,playing politics with crypto will not only cause a damage to the crypto sphere,to me,politics will only bring about manipulation which is as a result of some trying to prove a point.

Well, there's more than 10 other forks that are worth $0. Why? Because they're worthless and they have no support.
Both BCH and BSV communities are made up of early bitcoiners who could no longer find a home in BTC since the project turned into something they didn't expect it to become. So by forking away, they still found their spot in crypto.
Forks didn't cause any crash whatsoever, the market was overvalued due to greedy people buying things they don't understand, and selling when they saw the easy money making days are over. It's also still overvalued in my opinion, and it doesn't need a fork to go down again. (Although I think there's a couple of undervalued coins out there).