Thanks for the reply.

I have read and re-read to try and get the subtlety of what you're saying but I'm not convinced.

The fundamentals of the bitcoin cash protocol are almost identical to the fundamentals of bitcoin, so surely the hard fork will dilute the combined market until such time that the inferior coin dies? (even if the current valuation doesn't reflect this... YET)

Hi Guys,

I've been thinking about the recent hard fork of bitcoin and how it produced bitcoin cash.

People often draw the comparison from Bitcoin to gold due to the limited supply constraint. However, if hard forks continue to occur, then it seems like the bitcoin supply is increased i.e. 21,000,000 bitcoin (eventually) and 21,000,000 bitcoin cash (eventually) and with potential for this to reoccurr over and over if the bitcoin community fragments. In my opinion, another hard fork seems likely at some point over another contentious issue.

I know that the idea is that the less successful version will eventually be supported less and slowly die, but in my eyes it hurts the "scarcity" aspect of bitcoin. Also, it worries me that value could swing from one fork to the other rapidly and kill a person's investment. I know it's a volitile market but I feel like this bug slightly undermines bitcoin...

Whereas, there's no way to fork or duplicate gold.

Does this affect the long term "scarcity" prospect of bitcoin or is there some other technical aspect I'm not considering?

Cheers

Thanks for the thoughts guys.
Will definitely be interesting to see how it plays out. Which of them are successfull in adoption and which ones stuff it up. haha

Given that Bitcoin transactions are touted as being non-revisble, is it likely to be a big hurdle for large financial institutions to get on board with Bitcoin?

i.e. if a bank staff member transfers all the bank's bitcoin into the staff's private wallet and the transaction is in no way reverisble, the bank would be up s&*t creek. They could fire the employee and maybe the government in their country could put them away in gaol (jail) for the theft but the bank probably wouldn't get their money back.

Is this a barrier to entry for large financial institutions from getting involved with Bitcoin or just technical step that can be solved?

Thanks and kind regards,
Pat