Bitcoin Forum

Well we already have

Bitcoin (BTC)

Bitcoin Cash (BCH)

Bitcoin Gold (BTG)

Bitcoin Diamond (BCD)


Another 4 are below:

https://www.financemagnates.com/wp-content/uploads/2017/12/Upcoming-Forks.jpg


Feel free to add to this thread any other dubious forks, coming down the pike. Don't think any will go anyplace, but the closest thing to a crypto

train wreck on their attempts, that I'm gonna witness, real-time, on bitcointalk!

Again, feel free to add any more you trip over on this thread

consider also taking the poll

Where shall we keep BTCs to benefit of incoming forks?

*reserved* (This list of forks could *, unfortunately,* get 'damn long'. Thus this reserved post.

Additional Forks will be added below, as announced....


Bitcoin God (GOD) a December 25th, 2017 BTC Fork.

Link to article on this

https://cointelegraph.com/news/forgive-me-father-for-i-have-forked-investor-to-release-bitcoin-god

Well, I hope the IRS is not keeping track of these 'supposed' paper profits, from forks on BTC and then say at the end of the year...

*scam fork #127 hit your BTC wallet as a snapshot on dec 22nd 2017 at a price of $8.93.....being money from the air (like mining) you need to pay

this as income tax, as such*

talk about a way to muck up my life, how would you even keep track, of every tom, dick, harry ....fork falling from the sky, snapshotting off BTC?

That would put a crimper on things. (The IRS really does not like $$$ falling from the sky, even if imaginary....they find it annoying (like crypto mining)

and make you pay!

what i am interested in, is to find out how many will be a victim of these forks... these are not simply making a new coin, they are bringing in a lot of things with them.

the latest one being bitcoin gold brought a lot of scammers in. some of which were advertised by the team itself like web wallet they were advertising.

additionally there is only a finite number of characters you can use instead of "1" and "3" to make the address different to prevent dumb mistakes like sending to a wrong address.


a very risky method, better used with smaller amounts:
deposit on an exchange like Yobit and be the first one who received these fork coins and dump them when they are still high.

Also remember, if you cash out your BCH say, NOW, in time the IRS will have tools (they have 7 years) to look at blockchain etc.  The IRS could have issues with this in the future.

My CPA lady said that if you move it/spend it or whatever in less than 1 year and 1 day...you would pay 40% capital gains,

BUT BECAUSE IT WAS MONEY OUT OF THE SKY and you messed with it, they could treat it like MINING and tax it as income! (The IRS really, really

hates $$$ from the sky, thus why mining is screwed as income)

LIKELY, the IRS will treat these AIR DROPS, like stock-split gains in value, if you don't touch them in 1 year and 1 day and do regular capital

gains after that fact, you'd likely be fine....

So myself, I'm not touching the stuff, it can still sit on my BTC address, like mushrooms, my BCH and BTG and BTD can all just co-mingle...

not worth the hassle/risk/etc of reporting as income, in my case, if you don't have a lot of BTC on your snapshot, yeah sell the forked coins ASAP.

But be aware, you will be taxed for them, at the very least. (good old USA and you are assumed to self-report correctly, or you will be screwed)

but again, likely, if you just leave them alone and don't sell, no issues....thus my bet

Why so many forks though? I mean... I get that it gives extra currency to those with bitcoin. But whats the underlying principle behind them? Do they improve bitcoin somehow?

That's something I hadn't even thought about... I would be interested in seeing what kind of consequences these forks might have for your taxes in the future.
Would you still get taxed if you don't cash out your forked coins or if you don't have access to your private keys anymore?

If they start taxing all additional revenue made from these forks, you might end up owing more than you could pay.
Makes me happy that I don't live in the US.

They're only doing this because of the frenzy people went into to get their bitcoincash and bitcoingold coins.

Bitcoincash was a legit fork, bitcoingold was pre-mined and their official site linked to a wallet that stole bitcoins when you put your seeds in.

People need to ask themselves whether these freebies are worth getting their bitcoins stolen.

One result could be the price is gonna keep going upwards in the speed of a rocket.
But won't it actually derail the progress of bitcoin? I mean people will split, money will split, there may not be one strong bitcoin afterwards and there could be many bitcoins(alts).
What do you guys will be the biggest impact or actually what negative impact could it have on bitcoin?

Well, say you want to make your own crypto coin. (scammer or not)

1) I can make an alt coin in the traditional way...it launches at 0.0000001 USD....I hype it for 3 years and it is at 12c USD! (yea!)

or

2) you can call your altcoin Bitcoin Gold. Use the x13 protocol, GPU mine it, has 210 million coins, as max made, etc.

This has NOTHING to do with BTC, but the name and a prayer to the ASIC gods that this will work!

And as of this moment, Bitcoin Gold (BT is $302.07 USD

With all the talk of ICO's and such being banned etc. This whole make your BTC fork coin angle, will be all the more profitable and possible!


Damn, are we gonna see a lot of BTC labeled forked coins! It is gonna be the crypto version of the biblical flood....Ack!

I learnt that  more fork will make bitcoin transaction very fast and enable less transaction charges but I have abserved that even after some of the fork we have had already the transaction is not fast and the charges are still much. So I want to know any other function of bitcoin fork.

Let them be. The more there are, the more people will realize that they are shitcoins. I do not even plan on claiming any.

I really dont care about IRS since i am already living in a "tax paradise" country. For sure it is risky to run behind scammers in order to catch some peanuts. Yobit seems a good oppurtunity.

There is another one coming December 25th Bitcoin God (GOD) https://cointelegraph.com/news/forgive-me-father-for-i-have-forked-investor-to-release-bitcoin-god

It really is getting out of control, I mean everyone likes free money but really for forks sake.

Nowhere. Sooner or later the miner fee for sending somewhere your btc somewhere to grab a new fork will be more than your potential profit from the new coin.
And now try to imagine how much money will you spend to hype such a shitty fork for the whole 3 years. Imho it will be much more then your profit.

All those forks are taking less media space each day. Pretty soon the average user won't even know that bitcoin had another fork :) just imagine that in some month you fill find that you can get XX shitcoins for your btc.

I really blame bitcoin cash for this shitty bitcoin fork mayhem. They started it with the promise that they will be the new and the only bitcoin everybody needs. But honestly, they just made another altcoin. Then comes those other shit coins that think they can oust bitcoins. Then it just gone crazy with bitcoin gold and bitcoin diamond, they're just plain creating shit coins just to make a quick buck! What is this, Pokemon? I'm guessing next ones are Bitcoin Crystal, Bitcoin emerald, Bitcoin Ruby, Bitcoin Sapphire, Bitcoin White, Bitcoin Black, Bitcoin FireRed, Bitcoin LeafGreen, Bitcoin Pearl, Bitcoin Platinum. Yeah you guessed it, name all the Pokemon games and that would be the new Bitcoin fork!

This is the reason why people now are holding bitcoin and with that theres a lot of demand with btc and the supplies are really shortening now .. therefore bitcoin value in the market and still expecting more rise on the price ..

That is the reason for BCH. You can't increase the limit on BTC beyond 21 million coins, just make a fork/alt of BTC and viola 21 million coins on the fork...and  low difficulty...only

problem is the FUD to promote this and push the Alt.

Also, BCH allows you to run longer your OLDER Sha-256 miners etc. Assuming your pump of this Altcoin worked, which it seems to have...sad, but true!

Plus a lot of FUD is deliberate from BCH and other Bitcoin forks...makes for more BTC being dumped in a panic that pushers of the other forks can grab up

at an otherwise cheaper price, if no FUD then if you never forked, from btc at all. Thus you'd have a lot higher price in your whale endeavors to grab cheap coin!

(example: assume there was consensus and NOTHING did fork like BCH etc....the scaling solution was fixed, you had lighting and other options...all was well

in Bitcoin land....what the frack would the price be now..if as a store of value BTC was united...frack, IMHO, we'd have 24K USD coin now)

win/win/win for the folks forking BCH and other altcoins.....a very pretty game plan..evil wise anyway :

It also is getting damn hard to mine BTC with difficulty rise/etc...Everyone who has any accumulation before 2016, with the price rise of 1k to 11k now, is NOT selling

any BTC if they can help it, and thus third, the only way to accumulate coin is to do the FUD game and forks and such...shake the BTC tree ....so the weak hands will fall

out, sell their BTC, and you can grab cheap coin for a longer period of time....god help your whale like endeavors...if you had to pay 24k a BTC to fill your coffers

anyway, not going away, IMHO, not gonna get any better...just too fine an angle to have your cake and eat it too.

Looks like it's the beggining of the end of bitcoin. It's like Yugoslavia splitting to many smaller countries.

Well, BTC was supposed to PULL as one unit, as far as scaling and such software improvements, you don't like it, you are supposed to make your own fork.

Doubtful, Satoshi thought forking to an alt, could be used to game the system, and make all that money, and concentrate BTC network power in pools and large miners.

The sad part is we could reach consensus on all this in 1/2 a day! It would take the 'scare' of BTC price falling to like $1,200.00 bucks to do so, IMHO, but by god

there would be consensus and integration on scaling/etc, damn quick!

So, not sure, not ideal, that is for sure.

(now to my other boogie man, what if Craig Wright is Satoshi? and he really does have access to billions of BTC, held in a trust, that opens Jan 1st, 2020 to him? Ack!

On his proof?

..you know if that is true, with his temperament, he will flush/sell most of it...with the price going down into the 100's of dollars... and watch the Bitcoin experiment burn right? by the way,

he was treated, by the BTC community and the press? you betcha!

..damn...only 1 out of 100 chance of this.but always scares the crap out of me...lol) Anyway, enough ghost stories.

I voted 'less than 25' because it is already becoming ridiculous. Each subsequent fork will be less and less profitable and get less and less attention, until such forking becomes meaningless. I think even 10 is too many, let alone 25.

Let them fork as much as they want. As long as I'm getting free coins I won't be complaining  ;D

Apart from the forks, there is also those that are completely new coins with the bitcoin name. For example Bitcoin Dark, Bitcoin White. Then you can have the full rainbow too.

So combining all these, i think 25 is reachable. Even when it becomes irrelevant, i guess programmers, hobbyists and plain mischief players would do it just for the sake of it.

I mean sharing a name and blockchain history with the original coin does sound kindda cool. Say what, you may even have these as graduation projects. That'd be a pretty good idea..

well said ... why the hell these forks are coming...  are really crazy enough to keep forking these.....

if i am still in my class , i might have definitely fought with classmates for selection of rainbow colors .........  ;D

I hope that forking season will end soon. With every new fork it become less worth all hassle to claim new "Bitcoin". I don't think that many people will claim forked coins to get few bucks worth shitcoin.
Lol. Wrong comparison. Where do you see end of Bitcoin? If someone decide to make shitfork, it doesn't actually means that Bitcoin is splitting if miners don't start to mine new coin.

I am not a big fan of these shit forks. It only takes one of these forks to develop a wallet that might have some backdoor or

exploit to steal people's coins. I get nervous when I see a new fork, because I know there will be thousands of people who

will be running to sweep their paper wallets and cold storage to get their hands on these FREE coins. They expose their hoard

coins when they do this. Most people run blindly into these things, because their judgement is clouded by greed. Using these

untested wallets/software is a huge risk.  >:(

As someone else already said:  For fork's sake.
I bet soon there will be also BTC tritium, BTC lithium, BTC 2.0, BTC oil and maybe AntiBTC ( the last one you definitely don't want to send to your BTC wallet )

Are you saying that people that have been forced to live under tyranny of the communist terror in Yugoslavia have been better off than they are now living in 7 democratic countries, 6 of which are members of the UN and 2 of which are EU member states? You have no clue, kiddo, no clue whatsoever.

Forks originally were invented to improve the bitcoin network in whole. It comprised of two types of forks. The soft forks and the hard forks. These forks brought in new changes to network improved its efficiency and effectiveness but now people have just made it a way of creating their very own blockchain to work on.

I think the amount of altcoins today has increased so much that people no more trust ICOs they feel that every shitcoin coming in is merely a scam. So people have found a new way to gain popularity with their project. They fork the existing blockchain to create a new blockchain. This would continue until people realize that forks too are nothing more than pieces of shit.

Bittrex is nowadays famous for listing forked coins.You could keep your bitcoins there or at yobit.

In future,forked coins like bitcoin plutonium,bitcoin clay,bitcoin sand,bitcoin dust may even come.But people have lost interest in claiming these forked coins.It was earlier in BCH and BTG people rushed to buy  bitcoins to get free coins.But now,they have realized that most of these were just scam coins fit for nothing.I have never tried to claim any of the forked coins before and would not even claim in the future.

well there is only a finite number of words in any language and they will soon run out of the ways to fork bitcoin before they run out of these words!
and i don't know if people notice it but it is pretty damn hard for anyone to run these things. each of them need 150 GB hard disk space for the blockchain! and it will be even harder to sync since nobody will be running a node.
how many of these can exist? :D

Enough is enough. Let btc be the semi functioning main stream beast it and stop forking confusing the general public.

Yea, the point was devs are always trying to combine it with well known names (in most cases some very expensive things ... gold, diamonds etc.) the ones you imagine a wealth once said. It's obvious marketing move with one and only one target ... TO MAKE MORE MONEY.
Luckily they'll run out such words pretty soon ... so I think there will be 10 more coins max.
I'm not fan of these forks at all, never supported single one (just claim&dump).  

I have a killer domain name that will change everything regarding any forks of Bitcoin, if any body is interested we can work something out, I could give you the AUTH code and then unlock the domain transfer, or you could register with my hosting provider and I'll transfer it to you with full control. only if I could sell my domain for 1.5BTC (you know my long story about buying a house and bringing a girl(more like a prostitute because I don't like the commitment that comes with having a girl friend) which is a boring story?). lol.
I thought people are begging for Bitcoin up to $18000 because of these cumming forks, but when I checked the coinmarketcap to see 1M and $15 Billion volumes, they are not some low life beggars looking to get free shitcoins, not even Wall street jumpers could have poured such amounts, global demand for an easy way to launder money has increased exponentially.

yeah I posted this on wall observer...figurred I'd post here for the IRS link...it is possible the 22 plus forked coins of BTC so far
could be a pain in the ass for us with the IRS..small chance, but still...they are kinda clueless

my take below

If you move your coins in the USA it is probably a taxable event (income at the $280 that BCH hit the world, I think it was) ...spend it also (of course)

I'm going by below IRS guideline and hope they just treat it like stock going up..you don't touch it ...this does not matter ....we probably can prove

from the below that it is a hassle to get this stuff and came out of nowhere ....or at least this IRS plug leads me to believe

(on the other hand, the IRS released the 2013 guidelines 10 days before the filing deadline stating capital gains wanted on all BTC spent since 2009 (heh) also the
coinbase where they wanted all 15 million account info INCLUDING passwords....because they caught THREE GUYS using coinbase to hide taxes...so wtf they
literally could call all the forks like BCH income and expect us to pay..doubtful though)

anyway, this gives me a little pause that they are not gonna go after the BCH and other forks as long as you don't mess with them or move them or sell them kool-aid...I know zip
this is an example of what I'm doing and why I'm not even looking in the general direction of any forked coins...they can live or die on the vine...I ain't doing zip.)

https://www.law.cornell.edu/cfr/text/26/1.451-2 (https://www.law.cornell.edu/cfr/text/26/1.451-2)

anyway, some modest hope I won't get screwed over...but how I am approaching this...no looky..no touchy...any forked coin...

brad

Another new coins will be sbhown and will be supported by greedy miners, but what else could we say, it's all about money no other than, bitcoin can't peak it's price to the fullest because of those forks, I don't think that it is an advantage of bitcoin, and I haven't heard any forks that really contribute in bitcoin after show in for how many months it get's dumped.

Supposedly, (do your own research) from what I was told by a buddy, the Segwit/2 fork coming has NOTHING to do with Bitcoin in ANY manner, but the name.

I was told a bunch of guys from Ukraine, hijacked it.I mean it is going to be MINEABLE (supposedly) as an x11 pow coin! Also was told 6 million pre-mined.

But, it is at $404 usd.  On this site https://www.worldcoinindex.com/coin/segwit2x (https://www.worldcoinindex.com/coin/segwit2x)

Supposedly, they go live on Dec 28th, today, not sure if above is live or futures price.

Thus, according to IRS, in some manner, this $$ from the air added say $400 to your income, when it hit the world per BTC.

Last I heard, there were 22 forks of BTC so far....what, am I supposed to keep track of all these for tax purposes? Even if I don't have to pay taxes on them till I move them?

or worse yet the IRS says, they are income when they hit the blockchain as taxable unicorn 'rain'?

This year was weird as f*ck, next year looks worse!

As an aside, however, I have dubious Bitmain D3 x11 miners that will never ROI>...they are evil, this forked coin is evil...maybe I should just go full evil and mine them anyway.

(typing that made me feel dirty) :(

The bulk of thes forks will disappear into obscurity and make Bitcoin look like a joke, just people trying to make a quick buck off the Bitcoin name. I hope they all start with zero value and stay that way

Here is a list of upcoming forks:
http://cryptocurrencyfacts.com/2017/12/05/upcoming-bitcoin-forks-2017-2018/

I'm not too sure if this is good thing since at this moment it does not look like any of them is bringing any essential change. It will only confuse the potential investors. I think that the price of the forked coins will determine the frequency of the future forks.

If the forks are worth something, I'm the last one who hates them.

I also don't think they are bad for the "true" bitcoin, so why not, it's literally free money!

I myself, expected the same by now.In other words say BCH has value, eventually, that value would just fold itself back into BTC was my view....or at worse the other alts...but

the whole crypto world is such a mess, I'm not sure anymore....as an example no more like kind in the USA on capital gains....so you used to be able to move ETH to LTC to BTC

say and if you never moved the BTC no capital gains..now for each move of coin to coin..you have to figure out capital gains at the time...now for instant xfers not a problem...

for keeping many alts etc...that ain't gonna happen with me an IRS....so my movement of such is now limited

again, I think the IRS if they want to, could dump crypto prices by half, with 1 stupid rule, likely on purpose......I mean they went after coinbase database of

15 million folks, and also demanded all passwords, because they found 3 folk cheating thru coinbase on their taxes....

thus, I expect some major idiocy in some manner to come out of IRS when they finally (after 3 years of stalling congress) come out with some rules

I can't do much about it ..I'm at 50% tax rate on mining (w/10% tax for my state in USA added) and if less than a year moving coin 40% capital gains on the old hoard

(which would be most of it) more than 1 year an day held....and again 10% of that added for the state I'm in)

Just gonna have to ride this horse till it dies I guess, but while the ride is exciting....I'm having a hard time, figuring out how to stop the damn horse and get off

w/o my ass being handed to me, by above taxes, a correction, or hell who knows what?

fun times, be careful what you wish for you may surely get it!

brad



Ah, but there is always a CATCH, on such free money..I'm not sure what it is gonna be though...before 2013 every miner was happy as hell,

then the IRS came along and really, really disliked mining $$$ from thin air..thus income tax on mining and the other 2013 rule all spent crypto

had capital gains from 2009 onward...so that 2009 BTC you got for 10c and got a T.V. with for $1,000.00, you owed IRS equivelent of $999.90 in

capital gains tax.....fun stuff like that ...Imagine what the IRS or powers that be in Gov't can do with all that free blockchain $$$ falling form the sky!

shudder!

Again, it is UNLIKELY as hell, that if you don't touch any of this forked coin (imho) that it will be taxed...but the 1 out of 20 chance, makes me

squirm, such an event as calling such income, would drop all crypto to 1/2 its current value imho.

perhaps, I just like scaring the f*ck out of myself (on the other hand I got to talk to the SEC in 2013, because my bank called them up, because

all BTC was evil drug lords, so after getting the letter from the bank, I walked around town, secretly knowing that people thought I was NOTORIOUS 

CRIME BOSS!....it was great....I'd walk into the bank...no one would make eye contact.....needless to say the SEC was NOT amused to find out I was normal and boring) :(

yeah, I changed banks don't ya know soon after.....frigging idiots

Yes, it is literally a free money. However, one of the main reason why these forks are happening is because of the moeny. They continue to use the name bitcoin because it already has a good reputation in the community. Thinking that if a coin has a name or a brand 'bitcoin' on it, people will take a lot of interest in it which will give the developers a lot of money. They can fork any coin but they kept on doing a bitcoin fork. Why? Because of the money that can be earn from its reputation.

It will be great somehow if these fork coins can be of any value in actual and practical means and can be better than bitcoin. But its not.

Yup the whole btc is limited to 21 million which adds to its value become moot if three times a month it forks.

Where can we store our bitcoin in order to receive this coin? What wallet?

It's kinda amusing to see so much forks happening during the developmental stage of BTC. Even if there are 500 or more forks to fall from the sky, Bitcoin will still be the trademark of cryptocurrency itself. These forks will just make bitcoin even more popular. Wait for the lightning network to be implemented in bitcoin core, that will be the time for its takeoff to the moon.

it just sits on your blockchain address if they did a snapshot of your hoard on the day it launched...so I'm just not doing anything with it..in USA moving it (maybe) but moving

it and spending it would be a taxable event...at my income level 40% plus state taxes 50% I don't plan on doing anything with real BTC so the forks can sit and squat on my

BTC addresses virtual real estate...again I assume the forks will fail and at least BCH value will eventually go back into BTC price.....I know folk who moved BCH and sold it

at 280 bucks that are pissed now...me, I just won't play ..especially since the IRS has not weighed in on free money from the sky.....in 2013 they did so with mining crypto

and called that taxable income...they likely won't do that with BCH and the other forks....but then again they had 3 people cheat on taxes on coinbase and the IRS went

after all 15 million coinbase accounts (in USA and out) and demanded passwords ...so to me ...not worth the risk...just ignoring the forks ...22 so far of BTC forks so not

like the clutter is not going to continue...why start an altcoin and wait 2 years for it to get to 10c on hype over time..when you can do segwit/2 and call it bitcoin fork

and use the x11 protocol to mine it too boot..nothing ...about it is BTC......but the name..yet last I looked at futures price was $400 USD...thus expect a LOT more forks.

Hell, I heard there is gonna be a Bitcoin Cash fork! (frigging planet......ufo's will pimp for a ride off this planet) :)