Is the era of Bitcoin spinoffs over?

Abiky

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Quote from: Jating on January 07, 2022, 12:44:35 PM

I think it was really over when they started to create a fork coin out of bitcoin. Sooner or later we know that people are not going to support it, whatever kind of spin the people behind are going to do.

And that's what really happen here, all those coins are sure dead by now, maybe there are still a couple of people who supported it, but the overall consensus is that these people behind are not to be trusted and it's a blasphemy to attack Satoshi (because all of them have this approach) and it really back fire on them bigtime.

It was expected for clones to go down the drain, especially when they tried to be the "original Bitcoin". There was excitement with BCH at first, because the main Bitcoin blockchain was heavily congested with high fees. But after the introduction of several network upgrades on the BTC chain, fees declined massively to the point they are right now. So, if BTC's cheap to use for everyday transactions, why would people look into BCH or other forks in the first place? I'm afraid Bitcoin spinoffs will slowly fade into oblivion as people move on to the next big thing in crypto. Nowadays it's all about "De-Fi", NFTs, and the metaverse, so cryptocurrencies without new and exciting features will be left out of the game. Just my thoughts Grin

Synerggy

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Quote from: Baofeng on January 07, 2022, 12:51:46 PM

They are not going to succeed in the first place, Bitcoin Cash for example, in the beginning, I will admit that I thought that they will take over and become the 'real' bitcoin because of how they promote it. But in the end, investors are wise and they know that the people behind has no reputation whatsoever. So it's almost a trickery and majority are not going to fall for it. And with the emergence of new hype and solid coins turns into more of a good investments, like ETH, then BNB, ADA, DOT, then bitcoin spinoffs suddenly take the back seat and nowhere to be talk again and forgotten.

Its become a normal thing for a new project to shill about beating BTC if they believe that their project has the potential, remember BTC isn't the first crypto project but it's the first that works as intended, bitcoin cash has better features than BTC hands down but still people and investors just prefer BTC more this is normal to me

Baofeng

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They are not going to succeed in the first place, Bitcoin Cash for example, in the beginning, I will admit that I thought that they will take over and become the 'real' bitcoin because of how they promote it. But in the end, investors are wise and they know that the people behind has no reputation whatsoever. So it's almost a trickery and majority are not going to fall for it. And with the emergence of new hype and solid coins turns into more of a good investments, like ETH, then BNB, ADA, DOT, then bitcoin spinoffs suddenly take the back seat and nowhere to be talk again and forgotten.

Jating

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Quote from: Abiky on January 06, 2022, 11:25:04 AM

What do you think? Is there hope for Bitcoin-based forks like Bitcoin Cash, Bitcoin SV, and eCash (formerly Bitcoin Cash ABC)? Will we be able to see renewed interest in these coins? If not, why? What led to the demise of Bitcoin-spinoffs on the market? Your input will be greatly appreciated. Thanks.

I think it was really over when they started to create a fork coin out of bitcoin. Sooner or later we know that people are not going to support it, whatever kind of spin the people behind are going to do.

And that's what really happen here, all those coins are sure dead by now, maybe there are still a couple of people who supported it, but the overall consensus is that these people behind are not to be trusted and it's a blasphemy to attack Satoshi (because all of them have this approach) and it really back fire on them bigtime.

Abiky

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Quote from: IadixDev on January 06, 2022, 11:50:41 AM

With craig wright trial maybe some kind of new revival can be expected, he seem to have big plans for it

Don't get your hopes high just yet. After all, Craig Wright still hasn't proved he is the real Satoshi. Crypto belongs to the community (not a single person), so it's up to the community to "revive" Bitcoin SV and make it a great cryptocurrency if they want to. But most people these days aren't interested in Bitcoin clones, so both BCH and BSV will have a hard time getting back to where they were in their early days.

I'm afraid the era of Bitcoin spinoffs is over, as investors shifted their attention to cryptocurrencies with smart contract functionalities. It's all about "De-Fi", NFTs, and "meme" coins these days, so Bitcoin spinoffs will slowly fade into oblivion until they become history. At least, it was a great ride during their early days. Bitcoin adopters before 2017 (like myself), greatly benefited from the launch of Bitcoin spinoffs. Those who got in on or after 2018, are probably "rekt" right now as everything went down the drain in an instant. Crypto behaves in many strange and bizarre ways, so who knows if Bitcoin spinoffs gain renewed interest from mainstream investors? Just my opinion

Ceyflix-Rez

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Quote from: ajanwalker on January 06, 2022, 12:07:38 PM

This happened to me too today. After the fork in 2017, btccash gained a lot of attention but failed to maintain its popularity. Btcgold and Btcdiamond also did not receive the necessary attention. It does not make much sense to invest in coins such as btcgold and Bitcoin Diamond, especially when there are many projects with powerful technology with different tasks at the moment.

Its all about money making mate, BCH, BitcoinGold and Bitcoin diamond used to be the biggest forks in 2017 until bear market hit the world crypto world at the time but still these forks brings huge profits in 2021, I'm talking to those who bought these coins in march 2020 when Covid was affecting everything

ajanwalker

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This happened to me too today. After the fork in 2017, btccash gained a lot of attention but failed to maintain its popularity. Btcgold and Btcdiamond also did not receive the necessary attention. It does not make much sense to invest in coins such as btcgold and Bitcoin Diamond, especially when there are many projects with powerful technology with different tasks at the moment.

FloridaKid

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2020 and 2021 isn't a year for bitcoin cash I believe but the CEO is not someone you should underestimate, that man knows what he is doing judging from all the partnerships that BCH have joined it shows that this project has future potentials that we still don't know yet, Craig Wright is smart dude

IadixDev

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They're tactical

With craig wright trial maybe some kind of new revival can be expected, he seem to have big plans for it

MCcryptonia

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Bitcoin cash is still very active mostly in Asia parts of the world, I don't believe that BCH is done for just because we don't get any new updates doesn't mean it's been abandoned, I'd rather give this project time instead of judging it right now, in this bullrun this BCH still made it to 600$ per coin many said it will fail

Abiky

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Ever since Bitcoin Cash came into inception in 2017, a plethora of Bitcoin spinoffs were launched. There was hype surrounding the crypto market as people poured money into Bitcoin-based projects with the hopes of doubling their investment in an instant. I remember when Bitcoin Cash used to proclaim itself as the "original Bitcoin", but those days are over. Roger Ver isn't as active on the project as he used before, so BCH is slowly fading away into oblivion as other coins take its position on the market. Even Bitcoin SV went downhill, losing its place among the top 10 coins in market cap.

Believe me, the potential was there to make a Bitcoin alternative that would work without any separate scaling solution altogether. Of course, on-chain scaling brings centralization issues. But it would've been a fun experiment just to push Bitcoin's limitations out to the max. With BCH and BSV failing, it seems to me that the era of Bitcoin spinoffs is over.

What do you think? Is there hope for Bitcoin-based forks like Bitcoin Cash, Bitcoin SV, and eCash (formerly Bitcoin Cash ABC)? Will we be able to see renewed interest in these coins? If not, why? What led to the demise of Bitcoin-spinoffs on the market? Your input will be greatly appreciated. Thanks.

Topic: Is the era of Bitcoin spinoffs over? (Read 123 times)