Upcoming Bitcoin Forks/Splits and Exchanges That Promise to Honor Them

HabBear

hero member

Activity: 1106

Merit: 638

Hahah..."that promise to honor them". There's no such thing. These exchanges can announce that they want to honor some forking coin but if there is no market for it there's nothing they're not going to want to spend the money to create the infrastructure to support it! These aren't charities!

Quote from: btcforever2018 on December 28, 2017, 10:59:15 PM

I remember when BCH forked nobody could deposit or withdrawal coins due to the slow network yet people who had BTC on Bittrex got coins and could trade the markets right away.

This is because Bittrex decided to make a market for Bitcoin Cash. They decided to buy their customers Bitcoin Cash...the transactions probably weren't even hitting a blockchain, they were merely adjusting the credit for each customer's account record when that customer decided they wanted to trade their Bitcoin Cash. YoBit did the same thing with Bitcoin Gold.

pooya87

legendary

Activity: 3472

Merit: 10611

don't confuse the bitcoin cash fork with the rest of them. they have a main difference that makes things very different.
bitcoin cash only changed block size and didn't touch how mining works which meant the same miners who were mining bitcoin could (and still can) switch between the two chains and that can cause slow blocks, lower hashrate and security issues. which actually happened a couple of times during the EDA shenanigans.

these forks are changing the way mining works, they changed the algorithm because they know that no miner with their ASICs are ever going to mine their coin so they went to other routs to make it GPU mineable. and all the risks of above are eliminated.

of course there are still risks of replay attacks if they don't implement any protection and the risks of getting a malware because some of these forks are pure scam.

cpfreeplz

legendary

Activity: 966

Merit: 1042

There have always been lots of forks but no one really cared because they died. I doubt most of these will last, just like the old days. They aren't worth the time in most cases, but sometimes you get a little bit out of them so why not just increase your Bitcoin stack by a small percentage I guess right? Doesn't change the fact that they're going to die off quickly though.

btcforever2018

newbie

Activity: 28

Merit: 0

I always say that you only hold coins if you have them in your own wallet that you have private key for but if you are lazy or not enough tech savy trusting an exchange during forks/airdrops may be a thing for you.

Currently this fork/split thing is getting out of hand, there is so many coming out it would be a real hassle and pain to get each right away so it might be a good idea to be able to trade fast aka let exchange hold a bit of your BTC.

I remember when BCH forked nobody could deposit or withdrawal coins due to the slow network yet people who had BTC on Bittrex got coins and could trade the markets right away. Risk vs reward as always.

Bitcoin Splits Source 1
[img https://ibb.co/gisYhG /img]

Bitcoin Splits Source 2

https://ibb.co/eF42bb

Topic: Upcoming Bitcoin Forks/Splits and Exchanges That Promise to Honor Them (Read 107 times)