People underestimate the "brand value" of legacy Bitcoin. People will always herd to what is proven and accomplishes their needs.
It is very difficult to make people change their habits and, in the case of legacy bitcoin, it also has the best minds in the field working on the code, so there is a positive expectancy in terms of future features, not just security.
And when most forks are mired in controversial motives and led by sketchy characters, that further helps strengthen the original bitcoin.
Topic: Why is Bitcoin the predominant one among forks? - page 5. (Read 5991 times)
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.
Theoretically there is nothing preventing forks from becoming more common than Bitcoin.
It's just a matter of market share, merchant acceptance, amount of exchanges...
It's just a matter of market share, merchant acceptance, amount of exchanges...
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.
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