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Author Topic: Why is Bitcoin the predominant one among forks?  (Read 4031 times)
Igrylechka
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October 23, 2017, 09:24:04 AM
 #21

Why do we need a new coin

This is not the first attempt to create a "new" bitcoin. Currently, the market capitalization of cryptocurrency, is $95 billion, "Watching his success, many people are thinking about creating a similar currency," says Michael Mashchenko, an analyst with the social network for investors eToro in Russia and the CIS.

In cryptosuite already discussed the possibility of such currencies as the Bitcoin XT Ultimate Bitcoin and Bitcoin Classic. While successful there was an experiment with the BCH. The creation of Bitcoin Gold, as claimed by the ideologues of the changes attempt to return the status of bitcoin "digital gold", which, in the opinion of the community, the bitcoin began to lose. Supporters of the hard forks of bitcoin even began to use such slogans as "Make Bitcoin decentralized again" or just "Make bitcoin great again", parodying the slogan of the President of the United States Donald trump during the election campaign of 2016.
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October 24, 2017, 07:28:17 AM
 #22

The miners and scale of Bitcoin is what gives it security and its wide adoption in many areas just makes it safer and easier to stick with it. It may not always be that way but there would have to be a very compelling reason to switch. Wink Cheesy Shocked
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October 25, 2017, 06:37:34 PM
 #23

I believe that the fork where most people have an interest in will always be the main fork. I think it will be hard for a fork of bitcoin to ever 'reach a larger audience'.

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October 25, 2017, 08:42:10 PM
 #24

Op I think you are missing many things together. Splitting is different from hardfork! Like what hard in August first was hardfork that activities sigwith1x and after that around 5 pm gmt the same day there was splitting between bitcoin core and bitcoin Cash. Sigwith2x is a hardfork but bitcoin gold is a splitting and this happens often in stock especially when there is a buying over and a company separated into two the share are splitting between the two. We should expect more of the hardfork in future as this will better the blockchain technology. The splitting in the long run is not good for the technology as together we stand and separation we fall.

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October 25, 2017, 08:56:50 PM
 #25

Because it is the mother of all cryptocurrencies. I think this will not change all too quickly..
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October 25, 2017, 09:17:08 PM
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Thanks COOL Shocked
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October 25, 2017, 09:24:08 PM
 #27

Why is Bitcoin the predominant one among different forks, such as Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X?

Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
No you are wrong here the most forked coins in past one year is called Dash please check the google about forked coins from Dash thate are like 30-50 dash forks.
the reason Dash been forked like that is.
1.Masternode.
2.Masternode.
3.Masternode.
Yeah this concept will boom in 2018 for sure now a days every coin wants its masternode through private send.
kernighan
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October 26, 2017, 07:58:07 AM
 #28

It is the community, and consequently the market, who decides which chain is "Bitcoin" and which is the most valuable. But the Segwit2x/btc1 supporters are arguing that the chain with the most hash rate is the real "Bitcoin".

But we will see on November. I believe Segwit2x will be Bitcoin's biggest ordeal.

what if 50/50? which one is BTC
monkeydominicorobin
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October 26, 2017, 10:19:23 AM
 #29

Why is Bitcoin the predominant one among different forks, such as Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X?

Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.

Well the other three are the products of central banking morons. And we can see their motives from far away. That is to destroy Bitcoin.

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October 26, 2017, 03:59:28 PM
 #30

It is the community, and consequently the market, who decides which chain is "Bitcoin" and which is the most valuable. But the Segwit2x/btc1 supporters are arguing that the chain with the most hash rate is the real "Bitcoin".

But we will see on November. I believe Segwit2x will be Bitcoin's biggest ordeal.

what if 50/50? which one is BTC
In this extremely unlikely scenario I feel like the legacy chain would still be considered the real bitcoin and therefore be given the BTC ticker. Simply because it is the eldest and has the core team behind it. You're going to need at least 99.9% of support before even thinking about getting the BTC ticker for a forked version of bitcoin.

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October 26, 2017, 11:28:25 PM
 #31

I think it's all about community. Many people have confidence in bitcoin. Kiss Kiss Kiss Kiss
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October 27, 2017, 12:58:28 AM
 #32

Why is Bitcoin the predominant one among different forks, such as Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X?

Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
This is actually the hand work of miners to get people lost their real BTC "mark me on this" BTC fork will never stop until they achieve their aim, some exchanges not to mention are in collaboration of this.
The more the fork the more BTCfork in exchanges till when people make mistakes of which truely is the main BTC and there is their jackpot.

BTC have been a resistant to all its fork because its value gets multiplied every blessed time.

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October 27, 2017, 02:41:52 AM
 #33

It is the community, and consequently the market, who decides which chain is "Bitcoin" and which is the most valuable. But the Segwit2x/btc1 supporters are arguing that the chain with the most hash rate is the real "Bitcoin".

But we will see on November. I believe Segwit2x will be Bitcoin's biggest ordeal.

what if 50/50? which one is BTC
In this extremely unlikely scenario I feel like the legacy chain would still be considered the real bitcoin and therefore be given the BTC ticker. Simply because it is the eldest and has the core team behind it. You're going to need at least 99.9% of support before even thinking about getting the BTC ticker for a forked version of bitcoin.

Yeah exactly. I don't think it necessarily needs to be the core team in charge of the main chain but they have done okay so far. Decisions just need to be made 10x quicker.

Hopefully once we fork a few times all of those idiots drop out of the bitcoin community.














 

 

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Bluestreet
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October 27, 2017, 01:17:33 PM
 #34

Why is Bitcoin the predominant one among different forks, such as Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X?

Is it because Bitcoin is the most original one? Does it have to do with its price? Or does it have to do with its broad, generic name? Or because it's more widely adopted by many companies? In other words, is there some sort of complicated blockchain technology that will always make the Bitcoin most predominant one among different forks regardless of any circumstances? Is it theoretically possible for forks like Bitcoin Cash, Bitcoin Gold, Bitcoin SegWit2X to be more predominant than Bitcoin in the future? I don't know much about blockchain technology and I wonder if it's ever related to the fact that Bitcoin's the most predominant one.
Bitcoins is most famous among other forks,  it has nothing to do with others,  it's just that it is first introduced in the market. It's just a matter of market share, merchant acceptance, amount of exchanges.  Bitcoin is continously growing the reason people prefer it more than others.  Because bitcoin is older one.  Bitcoin is continously growing. Its prices fluctuates more than others cryptocurrencies.  Bitcoin is famous and has large investment than other crypto currencies.
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October 28, 2017, 06:39:07 AM
 #35

Bitcoin is the most predominant one, only because a huge number of miners and the community supports it.
If the community and the people decide to favor a fork of Bitcoin to the original Bitcoin, then most likely a fork of bitcoin will be predominant.


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October 29, 2017, 02:57:30 AM
 #36

In my opinion, reasons are:
1) higher price (and speculation)
2) network externalities

I think we will see many forks next months (about 1 every 2-3 months).
If Ethereum failed to kick out Bitcoin from its throne, I don't think that a fork will do.
I do not think we are going to see that many forks, the reason for all of these forks happening in a quick succession has to do with the internal division of bitcoin regarding how to scale the network, some wanted small blocks and with scaling off the network, and some wanted all the scaling done in the network and big blocks but as all of these forks materialize there is not going to be any more reasons to create more forks.

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October 29, 2017, 03:28:17 AM
 #37

Bitcoin is already heavily adopted and unless it does something drastically wrong I can't see it falling from the spot it holds. That doesn't mean an alt can't run along side it but it will always be the original that everybody knows, it is a brand of its own and to the non-initiated is synonymous to all cryptos

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October 29, 2017, 10:32:37 PM
 #38

Op I think you are missing many things together. Splitting is different from hardfork! Like what hard in August first was hardfork that activities sigwith1x and after that around 5 pm gmt the same day there was splitting between bitcoin core and bitcoin Cash. Sigwith2x is a hardfork but bitcoin gold is a splitting and this happens often in stock especially when there is a buying over and a company separated into two the share are splitting between the two. We should expect more of the hardfork in future as this will better the blockchain technology. The splitting in the long run is not good for the technology as together we stand and separation we fall.

Segwit wasn't a hard fork to be clear, it was a soft fork. Which means it is the same chain, you never needed to update your client, it would follow the same chain as the segwit nodes. Segwit soft fork was just an agreement by miners that they will not accept certain types of transactions from certain addresses unless they satisfy certain criteria. This made special types of transactions possible and a special type of ownership over coins. To the rest of the outdated network, all seems good, a little weird if a human looks at it as it would appear that there are many unclaimed coins that anyone can spend, but those transactions would never get confirmed unless they add separate proof that they are the actual owner of those coins.

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October 30, 2017, 06:06:38 AM
 #39

Bitcoin is already heavily adopted and unless it does something drastically wrong I can't see it falling from the spot it holds. That doesn't mean an alt can't run along side it but it will always be the original that everybody knows, it is a brand of its own and to the non-initiated is synonymous to all cryptos

IMHO bitcoin also have many problems. Its too slow. Comission its too big. I thing in future bitcoin can go down, and some of alts go on top1 (NEM ETH or LTC).
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October 30, 2017, 01:03:17 PM
 #40

Bitcoin is the original coin created by satoshi.
Other coins like BCH and others are just an act of creating clones of bitcoin by hard forking and claiming to be the original bitcoin.
But segwit 2x would definitely create some serious issues as it has majority miner support and it may replace the legacy bitcoin.If it does not has enough support,then another coin bitcoin segwit 2x would be created.
It has even support of more companies related to bitcoin.



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