Bitcoin Forum

Bitcoin Cash really confused me at which is the real BTC.
And the forthcoming SW2X is making a new puzzle.

BTW.
Question: Will the silver LTC gradually die after SW2X?

there never was any confusion about Bitcoin Cash. it was always an altcoin and still is, simply because it never had any support from anyone. not miners, not businesses, not user, not nodes, not developers.

the same will be true about SegWit2x. look around and try to see how much support and from whom it has that support. it may not be clear right now but it will become clearer as we get closer to the date and we can see the support and where it is coming from.

and in the future whatever fork has the support of majority will be considered BITCOIN and everything else an altcoin.

what does Litecion have to do with any of this?
litecoin is a completely separate and stand alone altcoin with its own developers, own community and users,... it doesn't matter what happens with bitcoin different forks LTC will be LTC.

The forks are definitely making the ecosystem more chaotic. They're confusing investors, for sure, and causing significant uncertainty for the market. Services supporting the forks aren't helping. The logos for BTC and BCH in the Copay wallet are nearly identical. It's almost like they want people to mistake BCH for BTC.

It'll be interesting to see what happens in November -- whether we'll see miners and businesses defect or not. For now, it seems like the NYA signers are moving forward with the fork.

Not sure what LTC has to do with anything. I've thought LTC was going to die a hundred times, but it keeps proving me wrong. :P

The more forks there are, the more lovable LTC looks. Then again if it got big enough forkers might descend on that too.

I agree that it's not benefiting anyone but anyone is also free to do it and it can't be stopped. 2X is the big one though. That could be far more damaging than BCH. Because of that I think we'll see more supporters chickening out near the time.

I agree it's making it more chaotic, the investors also confused on which coin to invest and what is the additional feature that the new coin offered, I think the forking only making the Bitcoin looking weak and for sure it is going to impact the price and the trust from the investors
And I don't see any relationship between the forking and the LTC

It's chaotic but it's uncontrollable. Everyone is able to do whatever they want. You could create a fork of bitcoin too, but unless you are really influential and have actually good ideas nobody is probably going to even use your fork of btc.

Plus, forking can be good as well, as it upgrades the system to prepare for the future.

It does not always contribute to confusion or chaos.

There will be another fork, Bitcoin Gold. I think yes, this BTC forks are not good for the reputation of bitcoin. It confuses new folks who will be trying digital cash.

things may seem "chaotic" for a short time and even cause some confusion to newcomers or even go as far as make them scared. we surely saw all of these in July before all the August first drama.

but in the long term all these things will only make bitcoin stronger. you can clearly see now that it was proven to the whole world that when you fork from bitcoin and nobody wants you, you will become an altcoin. BCH proved that.

I imagine you're right. But for now, there remains a fairly unified front. Surprising, really.

I think we need to consider Bitmain's interests. Do they want to cause as much chaos as possible (kill the legacy chain, force its users to emergency hard fork) in a bid to promote Bitcoin Cash? Seems risky. But this seems to be the position that many BCH supporters are taking: support Segwit2x because it means that "Core loses control of the repo and will lose the block size debate." And I suspect that Bitmain has a lot more hash power at its disposal than we'd like to think.

I think we should probably assume that there will be more hashrate behind the Segwit2x chain at fork time. And the list of Segwit2x supporters (besides miners) has some heavy hitters. Major exchanges, payment processors, wallets, services, etc:


That's a scary list. And if both chains are viable, I think we can expect other exchanges (like Bitfinex) to start adding trading pairs for both forks. It'll be chaos.

It's not clear where BitGo stands. They were originally included as a signatory, but apparently that was erroneous. Mike Belshe (CEO) seems supportive, Ben Davenport‏ (CTO) is clearly opposed. Cryptic exchange between the two here (https://twitter.com/mikebelshe/status/905737617718870018):


Not sure how the market will react and which companies will get cold feet, but from the look of things right now, the Segwit2x backers are nothing to sneeze at. They can have a serious influence on the market.

Creating confusion is the whole point of those forks - they are trying to take over Bitcoins name. Segwit2x called themselves "an upgrade to Bitcoin", Bcash supporters claim that their coin is the original Bitcoin. So, there's typically 2 groups of people who get confused - the ones who started believing in forkers propaganda and now actually think forks are "true Bitcoin" and some newbies who picked up forks by accident just because they are so unexperienced. But even the total amount of confused people is very small so forks have and most likely will fail to achieve their goals. If people just hodl their coins on their wallet and don't try to do anything without doing their research first, it's very unlikely that something will happen to them.

Well there is also Bitcoin Gold fork that's supposed to happen in the 25th of October.

Forks are supposed to bring new—if not better—features to a coin that address other previously known issues that it had in the past. While this brings confusion to the market, it also allows people to choose the coin that they need depending on how they use it. However it is being overshadowed by its market causing other implementations of the coin to flop and the other one to succeed.

At the end of the day, new implementations of the same coin only has one goal: profit.

Almost all of users said Bitcoin fork are will making the bitcoins ecosystem chaostic, but in my opinion the activation of SegWit2x won't be more chaostic due to cryptos currencies are more than democracy, it is decentralize, transparent.
The users cryptos currencies be free to choose the cryptos will be used, invested based on their research of cryptos they can learn about the cryptos before being a part of ecosystem the cryptos currencies and all of informations are available.

only for a short period of time. and that is not because of the forks per se, but it is because the market is hungry for chaos. everyone seems to love  FUDing so they can buy cheaper coins before the inevitable recovery happens. and so far it has worked for them so they will continue doing so.

but good news is that these types of fork which aren't doing anything and have no support, will just disappear in time as a shameful act by the people who supported them.

Yes bitcoin hardforks are creating lots of chaos lately but as bitcoin is open source software anyone can have their own version of bitcoin when number of supporters for one version of bitcoin will grow rapidly than that will create debates which will eventually split the network and community in parts when more and more fork will happen than bitcoin community will be divided in lots of pieces which can have catastrophic effect on bitcoin network and its stability.

It was surely happen, whenever they create more confusion and disorder for the Bitcoin the more profit they may earn.

However, Bitcoin was long time immune to this circumstances, in almost 2 decades of existences at crypto world, no doubt, Bitcoin will always survive and stay on top of other crypto currencies.

For the August 1 hardfork, a lot I mean A lot of drama was going on like what is a hard fork, what is segwit, will bitcoin die or will it's price fall, will bitcoin cash will be successful and even after getting answers to such and related questions, most of the people quite didnt understand and got confused.
Segwit 2X won't be as dramatic as the one before and bitcoin gold doesn't seem like it's profitable other than its name, so idk much about it.

I don't understand why would anyone can be confused as they have different names and the other is always considered to be an altcoin. Only Bitcoin will be Bitcoin now matter if another coin can be taking the word 'Bitcoin' as part of its name. We already have BitcoinCash and there is no confusion about it.

The thing is that maybe you -- as well as many of us -- can be concerned that this coming hard fork is the second time that a daughter (or you can also say son) is coming out of Bitcoin all because those who are granted the power to decide could not decide as one community resulting into a system called as 'hard fork'.

Well, we already know what happened in August so mostly it would be the same and the market will not anymore be reacting that much to the deluge of FUD especially days into the scheduled hard fork. This is what can happened if a certain community could not get 100% unity and support on a single direction the cryptocurrency should be going and when there are business interests taking the center stage.

Your question was off the topic. We've been talking about BTC then you're asking about LTC? LTC doesn't have to do with BTC because they are of different network. Well, going back to the topic, BTC forks doesn't really make bitcoin chaotic. Just look at the first btc forking and the creation of bitcoin cash. It didn't really make any bad thing on btc. In fact, btc has been on a stable growth do far. That's not a problem for me if I am to be asked.

It is a fight for survival for some developers at this moment. They are fighting to be on top and to be in charge of the most disruptive technology that has ever been seen in the financial world. The power and influence is addictive and people like Gavin had a taste of that and wants more.

You will see a lot more forks in the future and the community will be divided even more. Looks like these developers would settle to rule over a smaller piece of the bigger pie, but they have to feature somewhere.

It could bring chaos but I do not see any reason why it should. Fork is usually for the greater good and to make things even better. With the August 1 fork and how it all went, I still do not expect any subsequent fork to cause chaos unless some people just love chaos naturally. It can be a smooth process if no FUD is created and having some additional coin for profit, well, is good enough! Just look at the brighter side.

I agree that fork makes bitcoin destroyed, and investors are confused to choose which coin to invest, and I do not understand what this cloth offers ,,, I conclude that fork only makes weak bitcoin and disturbs the bitcoin value so can also eliminate the confidence of investors ,,

This is so easy for coin to understand the people know what is better for the good invest there are many crypto coins but you need to look which is better coin and study global media what they says now this time bitcoin are very useful and people believe to invest in bitcoin

I agree to everyone. Why would they name it before bitcoin if these coins will be considered as altcoins too. Bitcoin will always be the dominant one here. If they would want something that will be more popular than bitcoin then create a new one that is totally not from bitcoin. This is just confusing more and more users. Too many altcoins may be profitable but will also depend on bitcoin itself.

Yes, these guys give us a pain. Every other community member is pissed off and wants to spin his own coin. They should atleast not have bitcoin in their name

Fortunately there is free market and people are free to do forks, but ultimately it looks minor on what it aggregates to the crypto world, there is a lot of major innovation and advances on the field going on out there and this forks despite offering more options are essentially low on features and as a fork no advances despite tunning on the mining side. And with all that forks replay attacks are making it a lot more insecure to use it.

Who don't want BTC succed they know they can't stop it or kill it. So I guess the only thing they can do it's to fork it, create confusion to make people don't trust it.

About LTC I don't see which future can have... With segwit adopted and LN if this finally fix scalability and fees so BTC can be used daily LTC won't make sense as until know just looks like a testnet doing upgrades before they apply to BTC.

I personally don't think that the Bitcoin forks are making the ecosystem more chaotic. However for new users it might be confusing on what's considered the "real" Bitcoin. After the Bitcoin Cash fork, people still used Bitcoin and Bitcoin still thrived. I don't think the new fork will make any coin obsolete, at least not right away.

Not really. There are tons of altcoins and tokens coming out every day now. A fork here and there does not do much.

Yes, initially, the are making the ecosystem chaotic but this actually strengthens Bitcoin as it figures out new ways to adapt of the attacks. The price reflects these copy cats.

No fork will affect the bitcoin so don’t worry about the prices it will go down a bit will come back soon those who are saying that it is dead bitcoin will not die until there is no internet or any human on earth, and advise to the new investor is stay calm and hold the coin in these days everything will be alright and future will be good.

There are always those who think they can do something better than the original,in these case some new BTC,but as we can see it is almost impossible to make some new coin better then we have now.It it just a way for some quick profit as in the case of last bitcoin cash fork,and probably it will be with
forthcoming bitcoin gold.They are/will be just two more altcoins in a sea of hundreds of others.For the new people who meet for the first time with bitcoin it may look like chaotic on first sight,but with a few searches on the internet I think it will be easy to understand what the real thing is.

However beside new coins fork will bring upgrade of network in a way to increase block size from 1MB to 2MB,it is a something that has long been expected,faster transaction/less fees/price go up/everyone's happy :)

Well if you ask me about this, no. BTC forks are just an alternative coin but it is based on bitcoin that is why it is connected to it. It is not really chaotic at some point. This ecosystem you are talking about is that pure of business minded people. SO it is all about business.

I agree, the repeated takeover attempts make the network more resilient. However, I don't think the Segwit2x fork has any precedent. This one -- for now, anyway -- appears to be backed by major exchanges like Coinbase and Bitflyer, payment processors like Bitpay and wallet providers like Blockchain.

It's serious business, and if it's backed by a majority of the hashrate, then SPV wallets will follow their chain, too. There is no replay protection, so it could get very messy. There's still time for the companies/miners to back down or for replay protection to be added, though.

I think that they are just getting into the hype right now. The hype right now is about the airdrops and creating different kinds of coins and that is why there is an another fork for bitcoin which be called as bitcoin gold and it is more on airdrop rather than an improvement for bitcoin and that is why it is kinda blessing for us bitcoin holders and i don't have any complains with it.

yes, this make investors confused to whom they choose to invest their money, but this shows the high spirit of developing Bitcoin because they take the initiative to make their own hard fork and add new features that will indirectly affect the Bitcoin Core development by their idea, this is unstoppable and also a good thing.

I agree BTC forks make the Bitcoin ecosystem more chaotic than ever and it can’t be controlled. everyone can do it and no one can forbid them to do so. they are overwhelming and they are competing to be the best that make investors confused to whom they choose to invest their assets.

for now fork may cause chaos but this should only happen in a moment and make the newcomers confused or even afraid to continue investing. but so far I have seen Bitcoin is stronger even tho had fallen by some issues.

people need to learn to ignore the shitty forks. Anybody can make a fork, no reason to fight it. When most of the users will ignore it, the forks will stop.

Litecoin is the original and shittiest fork.

I think it is maybe a colateral between controlled supply Vs crescent demand ...

https://en.bitcoin.it/wiki/Controlled_supply (https://en.bitcoin.it/wiki/Controlled_supply)

The higher we get on the supply curve point .. more breakdown, splits etc we will observe  ..

 

Yes and its whats causing the massive spikes we keep seeing the last few weeks. people are encouraging others because of the bitcoin gold that you could get after the fork and that could be worth a little.

All these forks really ruining bitcoins reputation and if it goes like this, they will be the cause of bitcoins destruction. Bitcoin gold is another scam fork and you can read all the details below. People need to see the truth.

https://www.reddit.com/r/CryptoCurrency/comments/757jf4/here_is_why_bitcoingold_is_shady_and_a_scam_you/

Interesting. looks like hes implying that the coin has been pre mined and the blocks will drop by 16k when they do the hard fork. Real shady if true.

I think they do and to a newbie it's already one big chaos out there. So many wallets, altcoins, scammers. The questions keep piling up.
Will my exchange give me the forked coins? Will my wallet give me access to it? Is that new wallet that gives you forked coins reliable or maybe it's a malware that will steal my Bitcoins? It was like that at the last fork and we can expect it to repeat over and over.

Other altcoins doing the hard forks as well. Its necessary mechanism to upgrade things, nothing is perfect from the first day. Its going to split Bitcoiners a bit, but its fine, with current Bitcoin capacity and high fees you cant use Bitcoin much anyway, so losing some users might be helpful to release the pressure on the Bitcoin fees.

Bitcoin will always be the real bitcoin, bitcoin cash will always be the real bitcoin cash, nothing will ever change, not even the fork itself, its not even confusing.

The reason why bitcoin ecosystem is so chaotic might be that some  investors are selling the altcoins for bitcoin, so that they can claim bitcoin gold, the value might continue increasing within the next few days.

Well, believe it or not there is something not right with the idea of generating loads of free money from non-useful coins. This is the only part of Cryptocurrency that I don't like at all.

I guess for crypto to be valued very much, it shouldn't be too easy to produce.
Could be abused in the long run? Hopefully they find ways to fix this.

You are confused because you are a newbie but I can honestly say that even me is not so aware of what is happening in the technical side of Bitcoin as I am not an expert with it but what I only understand is that there is an original Bitcoin that must be trusted and supported by us who uses it and believe to its future as a revolutionary digital currency.

To answer you question about LTC if Bitcoin will be implementig Segwit2x you better go to this thread https://bitcointalk.org/index.php?topic=2095328.0 and maybe you will be enlighten.

Maybe so, but it's very much entrenched among cryptocurrency traders/exchanges and also seems to function as a test bed for Bitcoin development (or at least the most prominent one). I used to think LTC would die, but it never does, and I've come to terms with that.


I don't even think there is a wallet available yet. Nor the code, and no word on replay protection. Thus, no way it can be added to exchanges near the time of the fork. This launch doesn't seem to be going well, but I suppose there are 2 weeks left.

Of course is not right. But fortunately just by launching 100 coins it doe not mean that a certain x amount of value will be generated.

Let's take for example Bitcoin cash. It was supposed to be the real bitcoin but the price is getting down, mainly because all the confidence in the project is being drained away and people are realizing there is nothing special about it anyway.

With bitcoin gold the revelation will be a lot faster and the dump will probably send the coin to doge level.
It has no real backers and it has pretty much 0 real developers and nobody accepting it.
So the "free money" will be  a lot less than with the other.
And with the third fork probably there will be none as we will all get bored with them.

Secondary, those are not really free money those are money put there by "investors".
Indeed the market cap might jump but if there is nobody putting money in it (asking for coins) then there is no price.
If everybody will remove their bids from bitcoin cash one single sell will drop the market cap from 5 billions to 0.


 

I think yes. Bitcoin fork is not good effect for whole crypt market.
because surge it mades is just speculative.

Sure it is. And if it confuses people here on forum which are mostly tech savvy, one can only imagine what effect must this have on the average non tech investor. Let's hope that November fork doesn't do any real damage to the bitcoin.

That's what BCC pushers were hoping for, but it didn't happen. Some people were confused, but the majority knew what to do and didn't go crazy over BCC. Nowadays when BCC still has 0 acceptance it's slowly being dumped and forgotten. Also, I haven't heard of any major losses due to the previous fork. People who didn't know which is which mainly stayed away from crypto for a while and went back in when the situation became more clear. You can see it all on the charts.

Yes, I do agree. I consider coins released as alternatives that are same as any coins made before. There are plenty of coins at present and they just contribute to less trust in them. They are just like networking. Image of scam. Yes it do provide income when it comes to coins from ICOs but still the is no sure value for it of if you can exchange your coins effectively.
The fear of wasting time for worthless coins is very relevant today. And I think new coins are the open window for different scams and illegal exchanges.

I think yes, the bitcoin split is sure to cause more and more confusion. But is it the responsibility of bitcoin itself? It is clear that the global desire to blackmail the child of bitcoin is to blame.

I think yes because like on my question to myself.. what is the reason of the forks and why the forked coin are just going down and it is like being another type of garbage coin in the market and it will die. Hard forks are not good because it is just creating another forked coin that resulting other people to think that bitcoin is suspicious.