Hi for everybody) what do you think about this hardfork? Wouldn't miners massively switch on other different currencies? Maybe you have assumptions about which coin will be "famous" in this case.
Because I heard that cost of transaction will be so low, and mining process more difficult. Isn't it?
Topic: What does hardforks do to the value of bitcoin? (Read 213 times)
I think that's probably a good thing. It's good for coins, and it helps to improve itself.
As the topic says, can anyone please elaborate for me what Hardforks do to the value of bitcoin? Will it make it increase it's value or decrease? I've tried to do some research online, reading at forbes etc. All I could see was that hardforks create a newblock chain to improve the bitcoin transaction system.
And in addition, is this a good thing? When will the next hardfork commence?
And in addition, is this a good thing? When will the next hardfork commence?
The reason for concluding that hardforks increase the value of bitcoin price is not far fetched because most forks that have happened have been crediting existing users with 1:1 of the new forked coin which then means that if I have 2 bitcoin, I get 2forked coin. Even though this is mere greed, it then interprets that if the price of that forked coin is trading at $1000 for example, I then have $2000 just by holding.
You then see why a lot of people will want to have as much bitcoin as possible before the fork and if that should happen because of the forces of demand and supply, price of the original bitcoin tends to increase beyond what it was as more people are buying with less people willing to sell.
As the topic says, can anyone please elaborate for me what Hardforks do to the value of bitcoin?
If people are misled into believing that the hard fork is "free money" and that it'll automatically have a value without people actually supporting it, the price of Bitcoin will rise as people are hoping for that "free money".If the hard fork will cause significant division and confusion in BTC, such as when there's uncertainty over how well it will do or when there's not enough replay protection, the price is likely to decrease.
And in addition, is this a good thing?
It can be irritating to exchanges and a lot of other services when contentious forks happen, but it's still a good thing for people to have the choice of which chain to use.
Hard forks are nowadays mostly used to create clones of bitcoin.They does not have any unique features.Such hard forks do not have the potential to replace the true bitcoin as it was said that segwit 2x activation would replace bitcoin.So,it gets clear that free coins would be got as per the number of bitcoins we already have.So,just to claim these free coins,many people buy bitcoins and it creates a slight increase in bitcoin price.Soon after claiming such free coins,they sell their bitcoins to rebuy altcoins and it makes bitcoin price fall a little.Other than this,nowdays hard forks have nothing to do with the value of bitcoin.
As the topic says, can anyone please elaborate for me what Hardforks do to the value of bitcoin? Will it make it increase it's value or decrease? I've tried to do some research online, reading at forbes etc. All I could see was that hardforks create a newblock chain to improve the bitcoin transaction system.
And in addition, is this a good thing? When will the next hardfork commence?
Hi Miguel. And in addition, is this a good thing? When will the next hardfork commence?
Segwitx2 is canceled (or they say "postponed"), which means no hard fork before 2018 or maybe 2019. Lots of people were worried about this fork, and lot of people were saying Bitcoin price would increase with the cancelation of Segwitx2, but this is not my opinion.
I believe Bitcoins needs to evolve, and block size needs to get bigger. If Bitcoin does not want to become obsolete soon it should find a way to improve transactions, make them faster. Fees need to get smaller too.
Look at Bitcoin Cash and how well it is going now...
As the topic says, can anyone please elaborate for me what Hardforks do to the value of bitcoin? Will it make it increase it's value or decrease? I've tried to do some research online, reading at forbes etc. All I could see was that hardforks create a newblock chain to improve the bitcoin transaction system.
And in addition, is this a good thing? When will the next hardfork commence?
And in addition, is this a good thing? When will the next hardfork commence?
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