Why hard forks are good for Bitcoin

[sheamus10]

I don't agree if you think hardfork is good for bitcoin, contrary hardfork cause many loss especially for the price of any coins become unstable. And tend to decline, many are taking profits but they don't know the risks that there.

[Nellayar]

This is just another theory, but it seems to be pretty consistent

So why hard forks are good for Bitcoin in the long run? In short, because they allow to get rid of rogue miners. Yesterday I read a letter signed by major cryptocurrency exchanges, and they declared that they would list Bitcoin forks (if such should emerge) as just any other altcoin out there. Basically, it means that any attempts to hard fork Bitcoin will massively and almost instantaneously backfire on those supporting them. People will naturally stick to the trusted version, and treacherous miners will be wasting their resources on mining a useless and worthless coin. In this way, they will necessarily leave the grand pool of genuine Bitcoin miners, and there will be more consensus between those who will remain in respect to future evolution of Bitcoin. Thus, those pools which support hard forks will voluntarily leave the scene and free space for other miners, likely more friendly toward gradual development of Bitcoin. That's why hard forks will come out as good for Bitcoin in the long haul

Some said that forks can destroy bitcoin then this thread showed that forks will help bitcoin in a long run. Therefore I conclude that forks neither help bitcoin nor destroy bitcoin in a long run. If the forks will become shitcoin then the reputation of bitcoin will loose. On the other hand, those people who entered this fork may leave and they will stake to the original one, bitcoin. Now I know how forks work and what its value in bitcoin and other cryptocurrency.

[FrueGreads]

I'm not against hard forks at all, as long as they don't mislead other investors. If hard forks are legit projects, and they just want to implement their own vision of bitcoin, then I'm ok with it. If they are good, people will probably support them. This helps bitcoin evolve, because it's a safe way of seeing how some changes to the bitcoin protocol would work. I like the idea of a free market, so variety is actually good, to keep the market moving and growing.

What I don't like about hard forks, is when they try to use the bitcoin name for them. Bcash keeps saying they are the real bitcoin, and that is not correct. They decided to fork, so they went their way, and should mark themselves as different coin, and not the real bitcoin. This is true for bcash, and any other future fork.

[rockyboy]

It is good for any bitcoin correction but most likely i love it because i am earning in every bitcoin correction.

[LoudA__]

I don't agree if you think hardfork is good for bitcoin, contrary hardfork cause many loss especially for the price of any coins become unstable. And tend to decline, many are taking profits but they don't know the risks that there.

Most of the reason why bitcoin is forking is because of the development or the upgrade they are saying. I think we don't need to disagree with that since we people like bitcoin to live long so we really need to support it's development to cope up with other crypto currencies being released. I am not saying that bitcoin will be replaced by it's state today, what I am saying is that if it is not developed it might really be replaced by another crypto currency as the most expensive and most used digital currency. But what I don't like with the hard forks that is happening is the reasons like to make a profitable digital currency that can make their selves billionaires, naming their own bitcoins and saying that it will be replacing bitcoin even if it won't.

[Rooster101]

It may depends on what every people believe but some recent hardforks had no effects on bitcoin price because it continue to soar reaching many unprecedented all time high. Some people believes that hardforks is an opportunity to prove bitcoin and others view it as a threat. If every hardfork makes bitcoin price soar, it will eventually become the norm and bitcoin holders will ignore it.