What will all these forks do in the long run with Bitcoin? - page 2.

stompix

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Quote from: multinova on October 25, 2017, 04:33:01 PM

There are more and more forks coming up of Bitcoin.
We had BCC, now BTG, then segwit, i've seen other bitcoin fork threads popping up today as well.. What will this eventually do to bitcoin? Keep driving the price up or marginalize bitcoin?

It will be in different stages
First people will rush to buy bitcoin to get free coins.
Then we will have so many airdrops the forks will be worth cents..
And at last all these jokes will end just like the clone mania did in 2014.

And then we will have a new toy to play with.

Quote from: de_xt on October 30, 2017, 04:26:57 PM

Until today, Bitcoin forks, BCC and BTG, have added more value to Bitcoin, as opposed to those who think negatively about forks. To raise Bitcoin, there are those who think that fake opponents have been brought against Bitcoin, which is not an illogical thought, I think. Segwit fork is not a division but a good update and I think that will extend Bitcoin's life.

It's not the coins that added value.
It is pure speculation. The value of bitcoin was always there why do you think it is growing right now? Of you believe it's because of the segwit fork and free coins why did it go down a week ago?

Forks are just alts that will have their week of fame and will fall back into darkness.

How many transactions per day does Bitcoin Cash have?

de_xt

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Until today, Bitcoin forks, BCC and BTG, have added more value to Bitcoin, as opposed to those who think negatively about forks. To raise Bitcoin, there are those who think that fake opponents have been brought against Bitcoin, which is not an illogical thought, I think. Segwit fork is not a division but a good update and I think that will extend Bitcoin's life.

CisColtz

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Well I'm not happy with any of the forks from bitcoin and the reason why i'm not happy is because in the long run bitcoin can suffer a lot from this forks and the price can also suffer a lot , but let's hope that bitcoin will have it's way like until now and everything will be ok.

Karakyli

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On the one hand, forks are necessary for bitcoin, because they solve the periodically maturing problems with its scaling. On the other hand, forks can not be disposed of, because bitcoin is conceived with open source and everyone can take part in its improvement.

cryptoivan85

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If the coin that is going to be generated by the fork seems promising, people will buy bitcoin just to get this new coin and price will go up

If not, people will ignore the fork, nothing will happen

They can't have a negative effect on the price

multinova

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Quote from: qxo35 on October 28, 2017, 12:22:18 PM

I think after another few more forks and people will become immune to forks and it will not have any impact on bitcoin

It might.. however the current bitcoin isn't performing very well, if you look at the current delay in transactions.. it's kinda huge.

qxo35

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I think after another few more forks and people will become immune to forks and it will not have any impact on bitcoin

multinova

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Quote from: BitHodler on October 26, 2017, 08:51:52 AM

Quote from: ocojo on October 26, 2017, 08:39:10 AM

I think that value will go down in the long term. Trust is already falling already Angry

Quit the nonsense. If people are losing trust because of a few forks, then it shows that they don't actually know anything of how Bitcoin and everything around it works.

Forks are nothing more than a blatant way of making insane amounts of money in a very short time. I see it as the next thing, where we had pre mining and insta mining before, and then ICOs, and now the next in line are the forks.

BTG is now the big thing that's taking over greedy people, then we have SegWit2x, and after that something else will pop up. It's clear to me that this is just a start, and thus more forks will follow in the coming years. Supply and demand I guess.

One thing they all have in common is that they all will fail in the long run.

It does hurt all the alts everytime. For me these forks are useless but nevertheless everyone wants them to grab a quick buck. I personally would rather see them stop.

BitHodler

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Quote from: ocojo on October 26, 2017, 08:39:10 AM

I think that value will go down in the long term. Trust is already falling already Angry

Quit the nonsense. If people are losing trust because of a few forks, then it shows that they don't actually know anything of how Bitcoin and everything around it works.

Forks are nothing more than a blatant way of making insane amounts of money in a very short time. I see it as the next thing, where we had pre mining and insta mining before, and then ICOs, and now the next in line are the forks.

BTG is now the big thing that's taking over greedy people, then we have SegWit2x, and after that something else will pop up. It's clear to me that this is just a start, and thus more forks will follow in the coming years. Supply and demand I guess.

One thing they all have in common is that they all will fail in the long run.

13abyknight

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Quote from: multinova on October 25, 2017, 04:33:01 PM

There are more and more forks coming up of Bitcoin.
We had BCC, now BTG, then segwit, i've seen other bitcoin fork threads popping up today as well.. What will this eventually do to bitcoin? Keep driving the price up or marginalize bitcoin?

A few days to a few weeks after a fork, Bitcoin will start stabilizing back on its path, brushing off the new coin's impact if at all any. On the longer run, the newly forked coins don't stand a chance against Bitcoin, as every attempt to deviate from the core would be failed attempts with minor changes and attempts to make quick cash, nothing more.

ocojo

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I think that value will go down in the long term. Trust is already falling already Angry

Herbert2020

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Quote from: multinova on October 25, 2017, 04:33:01 PM

There are more and more forks coming up of Bitcoin.
We had BCC, now BTG, then segwit, i've seen other bitcoin fork threads popping up today as well.. What will this eventually do to bitcoin? Keep driving the price up or marginalize bitcoin?

don't compare SegWit with the rest of them. SegWit had a big support from everyone so it was a good fork that nearly everyone agreed to and that is how the forks of a decentralized bitcoin should be.

the rest of them, like bitcoin cash, have never been like it though. it had a very small amount of supporters who didn't really care for bitcoin or much else for that matter they wanted money and control. and they got only the money, some of it at least.

and the other forks like bitcoin gold and possibly a lot more like it in the future will be useless altcoins that want some piece of bitcoin only. you can see it by their premine!

pawanjain

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Nothing lasts forever

These forks are giving out free money to crypto users which might sound good at the beginning but becomes worse when we look at it the other way around. Forks are killing Altcoins in my opinion. People are willing to sell their Altcoins in losses to get the free money through forks and this thing is just killing the Altcoins. We can notice the price difference from the last month which shows us that Alts have gone way down than it was.
It also splits the investors into groups where the investors who prefer the forked coin invest their amount in that coin and hence BTC losses its growth in some way. Although it doesn't effect the overall growth but split of coin is split of growth.

fishbonez11

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Quote from: Squidoogeek on October 25, 2017, 04:53:48 PM

I imagine that one of the forks will eventually come out as the dominant blockchain. It's a matter of how long it takes for major mining pools to agree on which Bitcoin fork is worth working on and how long it takes for the community in general to agree. Remember, consensus is important and it's becoming a matter of how important we think keeping a unified Bitcoin that can beat out a million zillion forks just through keeping some kind of coherent consensus is.

I think that bitcoin forks are supposed to improve bitcoin. And yes, its either bitcoin will prevail or one will come out as a dominant blockchain.

Btcvilla

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I think just to increase the value of bitcoin. yes we see what happened yesterday, bitcoin value continues to rise every day. until now bitcoin gold does not have enough selling value is quite fascinating. it may take a considerable amount of time to increase the value of bitcoin gold

nkarm1

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Quote from: niklasmato on October 25, 2017, 04:42:10 PM

Quote from: uncleduckerr on October 25, 2017, 04:36:41 PM

I originally thought it wasnt good for bitcoin but now I am re thinking that because of how everybody functions when these forks come around. Everybody wants the free money but what they dont realize is the rest of the

industry gets hurt and the overall image gets damaged when this happens. If I had my way I would abolish these useless forks they are a big money grab by a small group of greedy people, at least thats how it seems to me

I do agree with you on this statement. To me bitcoin will suffer eventually.. new people coming to bitcoin already have it very difficult and with all these forks they will only make it more difficult

Actually there is no reason out here that would make the bitcoin suffer. Recent hard forks really brought an impression and excitement about bitcoin just by looking at the price behavior before, during, and after hard forks. Also those forks for me are quite healthy for the market. Why? As long as they are not supported 100% by the bitcoin community, that only means that bitcoin is still the best and it doesn't need any replacements with good modifications.

Fretcy

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Bitcoin has undergone a fork earlier this year by August called the Bitcoin cash or BCC at that time of the split anyone holding bitcoin were given equal amount of the new crypto currency or BCC a hardfork means a split in the blockchain network the bitcoin cash has reached $900 and most of the user's did not support them and sold them now the value of bitcoin cash has deflated to $300. On October 25th there was another hardfork called the BitcoinGold by November another fork is coming called the Segwit2x user's are not sure which is going to sustain or which cryptocurrency is going to hold the title Bitcoin all these hard forks will be a up gradation of the original bitcoin, Segwit2x will be an increase in the number of block size to 2MB.

Altas

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To overcome the complications the forks happen and this also provides path for an understanding about the real potential of bitcoin. In the long run these coins that keep bitcoin as the base and exist too grows in value providing path for the trading possibilities with new pairs.

Images21

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Quote from: multinova on October 25, 2017, 04:33:01 PM

There are more and more forks coming up of Bitcoin.
We had BCC, now BTG, then segwit, i've seen other bitcoin fork threads popping up today as well.. What will this eventually do to bitcoin? Keep driving the price up or marginalize bitcoin?

I am looking at this concern with a serious mind and outlook. This is definitely a great challenge to bitcoin. If instead of remaining one and only upgrading the coin but remaining as bitcoin, they would end up splitting away from the original coin every time there is disagreement, there is a great risk that bitcoin will eventually lose the trust upon which it is founded. I would actually prefer that they would remain as one and agree some upgrades that would be implemented to the coin.

DoublerHunter

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The only fork that i know that is useful is the segwit fork and because of that segwit it will enable the lightning network where the transaction will become faster and better than before and aside from that, there is nothing useful for me and those bitcoin cash and bitcoin gold are not useful in my opinion because it is just a waste and an airdrop for free money and beside than that, there is no use for those bitcoin cash and bitcoin gold.

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