What is the effect of forks on bitcoin

ss890

sr. member

Activity: 644

Merit: 263

Quote from: Willytom on November 29, 2017, 12:47:02 AM

I need your candid opinion on the likely effect all these forks can have on bitcoin. Thank You

Initially there use to be panic attack in the whole crypto community and this always made things worse. Bitcoin used to be dumped like crazy and mostly it was used to be invested into altcoins for through the fork period. Now the thing has grown very wild and people now know that they get the free coins along with the fork if they keep the bitcoin into wallets or over the exchanger and thus they can make money out of it by doing nothing.

Soon people realised this and whenever the forks started happening people went out crazy and started buying as much coins as they could whenever here was fork. So now you see yourself what is the effect of it, bitcoin gets pumped very hard but it is natural pump as people are not doing it intentionally but they are doing it for the benefit of their own trade.

damrianto

full member

Activity: 336

Merit: 100

the effect of the fork is the effect of change on bitcoin. there are two possible effects this can be said of the price reduction in bitcoin, can also say the price increase in bitcoin, but this includes price changes in bitcoin.

JohnHero

member

Activity: 168

Merit: 10

Quote from: talkbitcoin on November 29, 2017, 05:03:59 AM

Quote from: Willytom on November 29, 2017, 12:47:02 AM

I need your candid opinion on the likely effect all these forks can have on bitcoin. Thank You

nothing!

these forks that you are seeing these days are useless altcoins with lots of bugs and nothing to offer. they just are created day by day and will waste resources.

some of them may lead to some tiny bitcoin price rise before the fork and some tiny drop even smaller than the rise after the fork because some people may buy bitcoin so that they can get these forked coins for free.

there is also the fact that these forks are an easy way of losing money for newbies. there are lots of scams happening these days and the bugs in their clients are also leading to disasters.

Nothing? Haven't you seen segwit2x effect? It was abandoned, till that bitcoin won some ground, after that Bitcoin Cash went up 800% and so on. Forks have effects.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

Quote from: Willytom on November 29, 2017, 12:47:02 AM

I need your candid opinion on the likely effect all these forks can have on bitcoin. Thank You

nothing!

these forks that you are seeing these days are useless altcoins with lots of bugs and nothing to offer. they just are created day by day and will waste resources.

some of them may lead to some tiny bitcoin price rise before the fork and some tiny drop even smaller than the rise after the fork because some people may buy bitcoin so that they can get these forked coins for free.

there is also the fact that these forks are an easy way of losing money for newbies. there are lots of scams happening these days and the bugs in their clients are also leading to disasters.

priyankg3

member

Activity: 224

Merit: 10

the effect of forks , always down the bitcoin price, but it already cross 10000 usd.. will see what impact will upcoming forks in bitcoin

BossMacko

hero member

Activity: 1134

Merit: 502

The effect of Bitcoin forks are it makes some disturbance in the community especially when price of Bitcoin falls, it will give you free money especially if the fork coin will have a lot of value in the future thus after the fork you'll received a fork coin which value is the same of the Bitcoin you have before the fork happen and last effect of Bitcoin forks for me is that it makes Bitcoin more stronger, more pricey and it gets more supporters.

savushkinTA

full member

Activity: 192

Merit: 100

When the Bitcoin Network forks, some of the value that was in the Bitcoin network splits into the forked chain. When Bitcoin Cash forked from the Bitcoin network, the value of Bitcoin went from $2800 to $2700 (July 23,2017).

blackwidow7

newbie

Activity: 50

Merit: 0

In the long run, I think all these forks damage BTC reputation. Nobody can take seriously 4-10 BTC-Copies in top 20 of the crypto marketcap.
They are really damaging themselfes. And another coin will profit from it. I think we will see Bitcoin stepping back in the following years.

KevinHD

member

Activity: 232

Merit: 11

It could make the bitcoin price go down again and also on the other cryptocurrencies.

hhxcwz

member

Activity: 106

Merit: 10

BITCOIN

I think mining is short bitcoin.If you're bullish on bitcoin for a long time, buy directly and don't need to mine.Mining for bitcoins is too long and too costly，mining is a busy thing.So just buy bitcoin.

Psyloc9302003

newbie

Activity: 48

Merit: 0

fork may affect the value of the btc for it will follow the law of supply and demand..because of fork there will be an increase in the amount of btc which will may decrease the value of btc..

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

maybe the effect will make bitcoin price is down but if I see in this year, we are two times to see the fork and even the price is down but finally the price moving up and reach the high price. besides that, from this fork, we can get new coins with free and we can sell it to make a free profit. but I don't know what will happen in the future fork, we can get free coin again or not. and I only that this is the effect of forks on bitcoin and maybe there is another effect of the fork that I don't know.

Jessica2009

full member

Activity: 348

Merit: 100

For everything there is a bright and dark side nothing is perfect in this world, so I think that there will be a good fortune waiting by the forks in bitcoins.Now the price is increasing day-by-day so forks may be good in bitcoins to my concept. For long time investment I am not that much to predict that will support, but to me now it has been a positive effect of forks on bitcoin.

wenjun123

full member

Activity: 213

Merit: 100

Quote from: Willytom on November 29, 2017, 12:47:02 AM

I need your candid opinion on the likely effect all these forks can have on bitcoin. Thank You

It seems that the forks will lead to an excessive supply, because bitcoin is always about 21 million, and with forks much more. And then the price of bitcoin will start to fall, I hope it's not right, and forks to fly away with time.

tutorroma

member

Activity: 255

Merit: 10

My personal view is: in the short term, these forks may cause bitcoin split is bad, but from the long-term analysis, improve the forks of bitcoin is very helpful now, bitcoin has some disadvantages of high cost, slow speed, easy to block the blockage. And forks can help solve these problems. But I don't think it's wrong to have a high valuation of the fork.

Emoclaw

sr. member

Activity: 420

Merit: 251

It depends on several factors such as the percentage of miners & community that support the new fork instead of Bitcoin.
Bitcoin Gold and arguably Cash had absolutely no effect on Bitcoin but SegWit2X would have made a much bigger impact if it went through. Thankfully it didn't.
Forks technically don't "steal" from Bitcoin's value, because they're copies of it and not pieces.

Willytom

member

Activity: 98

Merit: 10

I need your candid opinion on the likely effect all these forks can have on bitcoin. Thank You

Topic: What is the effect of forks on bitcoin (Read 284 times)