Topic: Why is Bitcoin the predominant one among forks? - page 4. (Read 5991 times)
Op I think you are missing many things together. Splitting is different from hardfork! Like what hard in August first was hardfork that activities sigwith1x and after that around 5 pm gmt the same day there was splitting between bitcoin core and bitcoin Cash. Sigwith2x is a hardfork but bitcoin gold is a splitting and this happens often in stock especially when there is a buying over and a company separated into two the share are splitting between the two. We should expect more of the hardfork in future as this will better the blockchain technology. The splitting in the long run is not good for the technology as together we stand and separation we fall.
I believe that the fork where most people have an interest in will always be the main fork. I think it will be hard for a fork of bitcoin to ever 'reach a larger audience'.
The miners and scale of Bitcoin is what gives it security and its wide adoption in many areas just makes it safer and easier to stick with it. It may not always be that way but there would have to be a very compelling reason to switch. 
Why do we need a new coin
This is not the first attempt to create a "new" bitcoin. Currently, the market capitalization of cryptocurrency, is $95 billion, "Watching his success, many people are thinking about creating a similar currency," says Michael Mashchenko, an analyst with the social network for investors eToro in Russia and the CIS.
In cryptosuite already discussed the possibility of such currencies as the Bitcoin XT Ultimate Bitcoin and Bitcoin Classic. While successful there was an experiment with the BCH. The creation of Bitcoin Gold, as claimed by the ideologues of the changes attempt to return the status of bitcoin "digital gold", which, in the opinion of the community, the bitcoin began to lose. Supporters of the hard forks of bitcoin even began to use such slogans as "Make Bitcoin decentralized again" or just "Make bitcoin great again", parodying the slogan of the President of the United States Donald trump during the election campaign of 2016.
This is not the first attempt to create a "new" bitcoin. Currently, the market capitalization of cryptocurrency, is $95 billion, "Watching his success, many people are thinking about creating a similar currency," says Michael Mashchenko, an analyst with the social network for investors eToro in Russia and the CIS.
In cryptosuite already discussed the possibility of such currencies as the Bitcoin XT Ultimate Bitcoin and Bitcoin Classic. While successful there was an experiment with the BCH. The creation of Bitcoin Gold, as claimed by the ideologues of the changes attempt to return the status of bitcoin "digital gold", which, in the opinion of the community, the bitcoin began to lose. Supporters of the hard forks of bitcoin even began to use such slogans as "Make Bitcoin decentralized again" or just "Make bitcoin great again", parodying the slogan of the President of the United States Donald trump during the election campaign of 2016.
It is the community, and consequently the market, who decides which chain is "Bitcoin" and which is the most valuable. But the Segwit2x/btc1 supporters are arguing that the chain with the most hash rate is the real "Bitcoin".
But we will see on November. I believe Segwit2x will be Bitcoin's biggest ordeal.
But we will see on November. I believe Segwit2x will be Bitcoin's biggest ordeal.
Bitcoin {BTC} will always be the original idea and the technology that started all other Crypto currencies. Bitcoin is also the most proven network since 2009, with a perfect security history. Some of the most talented developers in the industry has cut their Crypto currency teeth on Bitcoin. {Now they think they are better than Bitcoin and are supporting their own coins in competition of the original coin.}
Bitcoin also have the largest merchant network and adoption rate. It is early days for these Copycat coins. {Bitcoin's been there, Done that and is wearing the T-shirt for many years now} ^smile^
Bitcoin also have the largest merchant network and adoption rate. It is early days for these Copycat coins. {Bitcoin's been there, Done that and is wearing the T-shirt for many years now} ^smile^
Why is Bitcoin the predominant one among different forks, such as Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X?
Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
I think the main reason why people tend to prefer the original chain over any other fork is because the original chain has survived since 2009 and lived through so many crashes. The forked chains on the other hand are brand new and they're unproven to work properly and survive major crashes. Another big factor is the abbrevation. Whichever chain gets the 'BTC' abbrevation is in my opinion the dominant chain, everything else is an altcoin. Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
One of advantage of bitcoin is the popularity has higher value than the others. Because of the higher value so many investor encourage to put their money on the line they feel much safer. So many forks but over the past year or so hard forks have gotten a bad reputation for political reasons by that i see bitcoin is the predominant one than the others.
Bitcoin is the first among the cryptocurrency and because of its vast popularity many business groups or people, companies are attracted to bitcoin.It is due to the decentralized one the above groups want to work BTC to their own directions that is the main reason BTC is forked from the chain like the segwit2x, bitcoin cash and now the bitcoin gold etc.
In my opinion, reasons are:
1) higher price (and speculation)
2) network externalities
I think we will see many forks next months (about 1 every 2-3 months).
If Ethereum failed to kick out Bitcoin from its throne, I don't think that a fork will do.
1) higher price (and speculation)
2) network externalities
I think we will see many forks next months (about 1 every 2-3 months).
If Ethereum failed to kick out Bitcoin from its throne, I don't think that a fork will do.
Bitcoin forks been mostly majority so far. Like Bitcoin Cash only small number people used. If Bitcoin bad fork in future where split is in half, it loses dominance quicker.
Ethereum was forked before Bitcoin so we can't actually say that BTC is the predominant one. Even if we consider BTC to be the predominant one among the forks, then it is probably because of the vast popularity that uses Bitcoin. Now since it is decentralized currency there are many groups of people who want BTC to work according to them and that is the main reason why BTC is forked from the chain. First the Segwit2x and then the Bitcoin cash, they are just groups of people who wanted to be separated from the chain and wanted BTC to work according to them.
Why is Bitcoin the predominant one among different forks, such as Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X?
Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
Simply put popularity, if there is a coin no one uses then no one is going to fork it because there is no interest on it, but if something is popular people are going to want to influence the direction of the project and when they can’t they fork, this is a dumb example but think of a very famous song and a song that almost no one knows, there are going to be very few covers and versions(forks) of that song, but if the song is popular you are going to find many versions and thousands of covers in youtube. Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
Thats a good one. Bitcoin is a brand now. Speculation may drive it further than its real value. It may cost more than more effective networks.
Still i think demand is very high for Bitcoin. Its most stable thing out there, accepted everywhet has a long road ahead.
Still i think demand is very high for Bitcoin. Its most stable thing out there, accepted everywhet has a long road ahead.
The miners are incentivised to follow the most widely adopted chain to maximise their profit so there needs to be a very strong reason to move away from the the original Bitcoin supported by the Core team. The miners and scale of Bitcoin is what gives it security and its wide adoption in many areas just makes it safer and easier to stick with it. It may not always be that way but there would have to be a very compelling reason to switch.
Why is Bitcoin the predominant one among different forks, such as Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X?
Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
Its been around the longest so its the most trusted. It has the largest support of the miners and users. The other chains are up and coming. They may displace but the network effect is super powerful on a blockchain. Takes a lot of users switch to make it happen
Bitcoin seems to be the most adopted cos it is the oldest among all crypto currency.
Call it a first mover's advantage. Bitcoin was the first to use the blockchain technology since 2009, and the other coins that have come after it have used different, maybe even better technologies, but the ingrained idea is that bitcoin is the first to have come out of it. Plus, it has survived various attempted attacks, different developers and forks in the past, therefore, it has a time tested and proven track record. If you see many of the altcoins during the boom in 2014, most of them were abandoned by the developers and were used as mere pump and dump coins even by its users. All these reasons make btc the predominant force in the market today.
Because changing anything in life takes effort, including the blockchain you are using. Unless there are clear benefits, Bitcoin users will not leave Bitcoin. If they switched for every fork, there would be no purpose of Bitcoin. Users don't want to change their clients from the ones that are most secure,stable and most reviewed, so they stick to Bitcoin Core. Meanwhile Bitcoin Core developers do whatever is possible to avoid hardfork changes, they prefer softforks for stability,security and backward compatibility reasons. It is hard to change what is already established, this is natural way of preserving stability and security in a system, but with big enough benefits Bitcoin could fork, there is just no good reason for that now nor can we see one with certainty for the future.
If something better comes along that will become the new "bitcoin". Until then, the chain that's got the most approval is the original one (+BIPs) so that's what a bitcoin really is. These others are just people forking off of a good thing to try and piggyback on the name.
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