Bitcoin Forum

Hello friends. I am a new member asking for help.

Thanks to bitcoin, I learned about this forum. So it can be said that Bitcoin is a great thing to help us know each other and understand more about Blockchain technology.
All of us on this forum are aware of Bitcoin and Etherum. And surely the new participants in this forum also heard from Hardfork a few times?

We know that since the advent of Bitcoin, the value of Bitcoin has increased greatly, but there have been deep declines. In addition to market factors, Hardfork times also make Bitcoin weak. So if Bitcoin doesn't have Hardfork, what is its real value?

I really want to know the thorough analysis of this so that I myself will be more knowledgeable about it. We wish everyone help

I personally tend to think of Bitcoin's "value" in terms of permissionless freedom and censorship resistance.  As such, hardforks don't detract from any of the qualities I value.

If you're talking about guessing what the market price of Bitcoin would be in whatever your preferred local currency is if there hadn't been any hardforks, there's no easy way to know that.  You can certainly speculate, but it's not possible to say with any real accuracy.

What hard forks you are referring to, the forked altcoins?
Some of those had some effect because of the money and influence their initiators have. There were plenty of such coins that have gone basically unnoticed.

Also in 2019 there were no notable forks. And the price still went down. So no, the forks didn't affect the price. The drama around them may have made some investors run away, because nobody likes uncertainty. But nothing big imho.

Also thinking on what would have been happening in a different chain of actions is pure speculation where all answers are in the same way good and bad.

the true value of bitcoin is always what someone is willing to give you for it, in the future you can expect big issues to that, because the US dollar will become a questionable global currency.

Hardfork are just fundamental analysis traders tend to capitalize on for quick profit because to be truthful most of those forked coins are scams and never actualize their roadmap. The core values in bitcoin is the ability for it to permit quick,accountable, non-restrictive payments as well as the limited supply

Yeah, I think that some people - including the hardforkers themselves - overestimated the willingness of people to completely abandon Bitcoin in favour of their forked coins, along with the different techs. Few would have just stopped using Bitcoin to keep on a sole Bitcoin Cash/Gold/etc path, wouldn't have made investment sense anyway.

Did the hardforks affect Bitcoin's price? Probably, but people might recall that Bitcoin shortly reached its ATH *after* the forks. Of course, the momentum was already there and the forkings probably added to Bitcoin's surge in mainstream awareness. But I don't think the forks had any more effect than alts did.

Dollar will lose its value with the passage of time and eventually it will be replaced by the Bitcoins.  Any currency cannot rule the market forever and time has come where we will see the downfall of dollar and the rise of crytpo currencies.

I do not quite grasp the meaning of this statement. I am not entirely expert on the concept of hard forks,but in a basic sense it is a way of creating another currency from rge sane chain, which may not be backward compatible (I stand to be corrected) it has momentary impact on the price of the currency being forked, especially if an airdrop is done. But does not affect the actual product or usability

That's basically it. Bitcoin value is adequately represented by it's market value. No less no more, just that what people are paying for it.
What's actually funny, is that crypto is the last free market driven items in this forsaken world. The moment it gets regulated by the governments, price will start to go all over the place. From sinks to sky high and the other way around in a matter of minutes.
That's why we should govern it's freedom as it governs ours.

mate, who would have thought the price of bitcoin could be as high the last bull and previously no one knew it as high that, well all of that in Bitcoin will happen so by the way without hardfork or whatever. bitcoin has a different taste image compared to other currencies

It is basically a change of rules where the old software version will see the blocks that are produced according to the new rules as invalid and they would require to upgrade to the new software version in order to see those blocks as valid. An split only occurs when not every single node upgrades to the new software but continue to use the old software version. The only reason that might affect the price of the forked coin is the collision of new and old nodes splitting the chain into two which might increase the transaction fees for both sides.

The hard forks definitely had a impact on the Bitcoin price, because a lot of these forks caused a lot of division in the community and it took investment capital to these new forks. Investment capital that could have been invested into Bitcoin but I think the thing that might have balanced things out, is the fact that some forked coins that was given for free, was sold and re-invested into Bitcoin.

It is not too difficult to see how much potential investments could have been invested into Bitcoin, by simply counting the amount that are currently invested into those hard forked coins and adding it to Bitcoin.  ::)  <over simplified>

I don't think there is much effect of forks on the price of Bitcoin.
If there is a community believing in Bitcoin and there is more than enough demand to keep bitcoin above 3K, the Hard forked coins can go shove up themselves in the asses.

What we have actually seen is that this forks loose value over time and money still returns to bitcoin.
Perfect example is BCH.
According to prices late December 2017
BCH all time high - $4000
BTC all time high - $20,000( or close to the price in some exchanges)
BCH was even the third on marketcap rankings

Current situation
BCH price - $162
BTC Price - $4024
BCH currently 6th on marketcap ranks, Almost getting taken over by Binance coin.

As we can see, In approximations, BTC price dropped 5 times for ATH in late 2017, BCH price dropped by a whopping 25 times. Where did the money go?  ;D

Bitcoin's value is determined by institutions, lawmakers and the trust of the people. As long as people all over the world back Bitcoin and it's benefits, then Bitcoin will succeed over the long term.

seems people dont read the OP properly

first of all the "value"(ethos/utility) the op is talking about is not the price(market). but the reason/utility/usefulness values of bitcoin.

for me a hard fork is what i would call a controversial fork where a large proportion of the community gets affected.
a soft fork is something that occurs with a minority group gets affected
and then what some devs call 'inflight upgrades' is where no one gets affected

for instance
the 2013 leveldb bug was a temporary hard fork which didnt result in an altcoin creation but did affect a large amount of the population at the time.
another example of a hard fork was the mid 2017 controversy where before a feature even activated, nodes were pushing detractors and opposition off the network, which then culminated in another altcoin due to people not wanting to give up their objections and instead just give up fighting core by just walking off and making an altcoin

a soft fork is when without needing to affect a large controversial amount of users only 5% get affected and they only get affected due to the activation of a feature that reached such a high agreement by offering something that the community could agree on without threat or demand or pre kicking off the network.

then an inflight upgrade would be what happened in spring 2018 where things like bc1q was added and no one even noticed or got affected or found themselves lost outside the network

now with core having what they desired. a network of core nodes that goes unopposed, so that as long as people continue to just sheep upgrade their nodes to the latest core release. core dont have to worry about hard forks no more. they can just do as they please and add what they like. yea i know some people dont want to be called sheep. after all they think they have become enlightened and 'woke' from the old boys club of fiat bankers. but have yet to realise they swapped one boys club for another

bitcoin has lost its diversity and lost its byzantine generals solution now that there is one general in charge of the rule change options.

bitcoins ethos and unique revolutionary feature has been lost. and so now people are questioning what is left for bitcoins utility/uniquness 'values' especially now the shephards herding the sheep want to deburden the bitcoin network by swaying the sheep into the commercial fields of LN and out of the organic fields of yesteryear known as the original ethos of bitcoin

it wont be replaced by bitcoins, people will never start to think and evaluation in bitcoin, because its not a reliable measurement of value, in the productive industry.

0, because it makes it impossible to fix some critical bugs, and in the same time, it makes it an easy target for malicious actors who simply need to get a hold of the official wallet.

Hardfork is a series of events that occur when a cryptocurrency development team agrees to apply new changes to the coin programming system. The purpose of Hardfork itself is to secure cryptocurrency networks or adapt to the increasing number of coins.

Without Hardfork the possibility of bitcoin prices will continue to increase, and it may be easier for us to predict because most crypto users will focus more on buying "only" on bitcoin because there are no coins other than bitcoin.

if you look at the whole price chart you can see that there were "over excited" phases but if you ignore the over-excited state you can clearly see price has only been rising.

no it does not.

the only hard fork that bitcoin has ever had was from many years ago and price wasn't affected that much

No.Hardforks actually make bitcoin stronger,because the fork supporters are "leaving" the bitcoin core community and sometimes a hardfork can pump the bitcoin price,because lots of greedy traders want free forked coins which can be sold for a small amount. ;D
I can't understand this sentence "We wish everyone help." What are you trying to say? ;D

As a newbie, I thought your question was to be in the area of seeking to understand what is hard fork to have knowledge of it before asking what the real value of bitcoin is.

Anyway, I don't think hard fork determines the value of bitcoin. For me, the value of bitcoin is the level of acceptance.

And, hard fork does not affect bitcoin .

I don't think someone can calculate the real value of Bitcoin without the hardfork and give you a concrete answer about the latest result. Hardforks happen for reasons like the new update, less fees, the minimum required time for each block etc.

I think it affects bitcoin prices by making investors go to them for a while and ride their temporary jump. But as per NeuroticFish it is quite small and not that visible. But still it's a jump. So based on this we can safely say that bitcoin prices will be what it is now with or without hardforks.

I don't think a 'hardfork' greatly affects in determining or keeping the value of bitcoin. If anything, hardforks are just versions of bitcoin that were ultimately rejected by the consensus process, and are separate entities from the main bitcoin protocol that most people are still using now. Since 2010, forks are happening, although it is of very recent dates that these forks have become speculative events that people use for their trading ventures. If you're asking me whether bitcoin still has that same ethos since it was established in 2009, yes, it still has it, but monetary value of bitcoin after the hardforks? I don't think one can come to a good estimate at that.

maybe not much different from now. because without hardfork even though the price of bitcoin every year always goes up. hardfork may be one factor that makes the value go up but it's not the main thing. Speculation and adoption are also important factors in increasing prices.

and plus bitcoin has Halving, where every 4 years there is a reduction in rewards per block.

Bitcoin God

Bitcoin Private

Bitcoin Gold

Bitcoin Private

BitcoiNote

Bitcoin Diamond

are just shitcoins that we should not give much importance and there are more others that I preferred not add because I did not want to have to deal with the fan club


BTC = $4000

https://coinmarketcap.com/currencies/bitcoin

this is the value that people are willing to buy