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Author Topic: Why is Bitcoin the predominant one among forks?  (Read 4139 times)
sicparvismagna
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October 31, 2017, 01:44:20 AM
 #41

Well technically  speaking if you are the one who is let's  say using bitcoin the longest and one of the veterans here in bitcoin wouldn't  you think that you are the most trusted and reliable among users same goes bitcoin because its been around for a long period of time its why people have relied on it. It's  the most trusted among all.

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October 31, 2017, 09:05:08 PM
 #42

The more people use same cryptocurrency - the safer it is.
So only when half of people that are using BTC now will ALL select one cryptocurrency - only then it can be better that BTC


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November 07, 2017, 01:34:51 AM
 #43

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
This is why I do not like definitions that are up to interpretation, the original bitcoin is the one that was created by satoshi, even if that chain eventually dies that will still be the original bitcoin, even if another fork gains more support from the miners or the community that only makes it the most popular among that group and that does not give to it the status of the original bitcoin.

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November 07, 2017, 07:00:35 AM
 #44

Maybe because it is the pioneer of all cryptocurrency or let us just say, it has created the most goodwill or the name that imprinted into the minds of people.  So, just like other business that establishes its name, bitcoins have made a nice splash during its birth that people remembered its name until today.  So in doing business, building a name is very important.

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November 07, 2017, 11:31:36 AM
 #45

Same reason why MP3 is the most popular audio codec for music. It's the first to actually provide good-enough compressed audio and gain market share. (hint: the best codec is Opus Audio, but few people know about it. And it will require special software to play-back.)
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November 07, 2017, 02:44:13 PM
 #46

Maybe this will sound strange but bitcoin is actualy mainstream among the cryptocurrencies. And it's only one that is original, all other bitcoin connected coins are bad copies, I would say. That is why people use it, they trust it. And people use and trust the things that have some real value and they positive experience with. And the more users support it, the more valuable and trusted will become, so there are many reasons.

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November 07, 2017, 06:25:11 PM
 #47

Maybe this will sound strange but bitcoin is actualy mainstream among the cryptocurrencies. And it's only one that is original, all other bitcoin connected coins are bad copies, I would say. That is why people use it, they trust it. And people use and trust the things that have some real value and they positive experience with. And the more users support it, the more valuable and trusted will become, so there are many reasons.
By bad copies do you mean that they fail to do what Bitcoin originally set out to do, or do you mean that they don't offer enough unique features to stand out on their own? To answer the overall question it'd be interesting to look at what the competition has to offer and which cryptocurrencies have the potential to overtake Bitcoin in the possible future.
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November 07, 2017, 11:39:16 PM
 #48

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.

I believe it is because it is the original and the people that might support the forks don't even know about bitcoin yet. With more adoption of BTC, I'm sure alot of our BTC market cap will bleed into the forks of BTC.
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November 08, 2017, 01:01:02 AM
 #49

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.

I think it's just semantics and what name eventually becomes the dominant one in use.  Your question could be interpreted in a few different ways.  BCH, etc. all originated from the original Bitcoin blockchain, so perhaps the simplest form is to differentiate all subsequent forks as being a different (derived from Bitcoin) name, and perhaps if one of those forks eventually became more favored in common use than the orginal, then the newer fork might eventually come to be called "Bitcoin".  If I had my personal preference though, all subsequent forks would be named differently, the way they are done now.  A newer fork supplanting Bitcoin, and then becoming known as Bitcoin would be too confusing.

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November 08, 2017, 01:08:34 AM
 #50

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.

How do you determine which one is original BTC and which one is clone? In case of BTC/BCH there were two identical blockchains. And even developers splitted to two different groups.

Only thing, that made it being "original BTC" was, that one blockchain contiuend under original BTC name, another one under new name. But they were identical. Same will go for a new hardfork.

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November 08, 2017, 11:38:20 PM
 #51

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.

It's nice to think of Bitcoin as the original, the thing created by Satoshi Nakamoto.

But over time we may see some splits to remain true to his original concepts.

Not saying that's good or bad, only that it could happen.
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November 09, 2017, 06:54:11 AM
 #52

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.

The main reason that I see is mainly because the believe people have in the core bitcoin is still strong as ever and even the stakeholders are the ones pushing for the continued dominance of the original bitcoin. For example on the forum here, anything other than BTC is pushed to the alt section that tells tells you the larger forum of crypto enthusiasts had already picked a side.

Going forward to the exchange sites, majority of them treat every other coin as an alt while its possible to change every other coin to btc, not every coin can change to the other forks. Another is the conversion to to fiat which is mostly predominantly on bitcoin compared to other forked coins.

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November 09, 2017, 08:16:24 AM
 #53

It is a matter of perception. We call the current BTC the "real bitcoin" because it has the longest PoW, it has the BTC ticker symbol, and the Bitcoin Core team endorses it. These are the key indicators. A 4th, less persuasive, indicator is being most "true" to the original bitcoin code or intentions of Satoshi Nakamoto. In most of the chain splits so far, one side of the chain received a clear majority of these indicators--typically the first 3. Proponents of the minority chain often claim their version is more true to the Bitcoin spirit. BCH may have a reasonable claim to this. Few are convinced.
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November 09, 2017, 10:53:42 AM
 #54

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.

The main reason that I see is mainly because the believe people have in the core bitcoin is still strong as ever and even the stakeholders are the ones pushing for the continued dominance of the original bitcoin. For example on the forum here, anything other than BTC is pushed to the alt section that tells tells you the larger forum of crypto enthusiasts had already picked a side.

Going forward to the exchange sites, majority of them treat every other coin as an alt while its possible to change every other coin to btc, not every coin can change to the other forks. Another is the conversion to to fiat which is mostly predominantly on bitcoin compared to other forked coins.

Yes exactly that's how it is currently been happening right now with the forked coins. Most investors and quick traders really converts their btc to fiat cash after the good price really updated with the system. Like if we have to trade and eth contract coins, then a trader holds the eth they have will again trade to btc in order to earn fiat cash for daily living expenses. That's why fork nowadays doesn't seem to be visible to happen due to the blockchain devs now closely monitored all transactions to be out of any major congestion.

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November 09, 2017, 11:00:42 AM
 #55

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.

The main reason that I see is mainly because the believe people have in the core bitcoin is still strong as ever and even the stakeholders are the ones pushing for the continued dominance of the original bitcoin. For example on the forum here, anything other than BTC is pushed to the alt section that tells tells you the larger forum of crypto enthusiasts had already picked a side.

Going forward to the exchange sites, majority of them treat every other coin as an alt while its possible to change every other coin to btc, not every coin can change to the other forks. Another is the conversion to to fiat which is mostly predominantly on bitcoin compared to other forked coins.

Yes exactly that's how it is currently been happening right now with the forked coins. Most investors and quick traders really converts their btc to fiat cash after the good price really updated with the system. Like if we have to trade and eth contract coins, then a trader holds the eth they have will again trade to btc in order to earn fiat cash for daily living expenses. That's why fork nowadays doesn't seem to be visible to happen due to the blockchain devs now closely monitored all transactions to be out of any major congestion.

What if those people choose to hold their bitcoin and don't bother to cash out their holding to fiat, would it improve the network? Would be the congestion lessen? In my own words here, the fork always happens when there's system error like power tripping and other hardware related concerns which downed the mining system. This scenario also contributes with the fork or the segwit2x, because those miners widens the flow of the network transactions to make easier and faster nodes processing.

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November 09, 2017, 11:20:01 AM
 #56

Bitcoin is a great implementation of blockchain. But they have been telling us that Bitcoin can't be under inflation because of no emission. So, you can see Bitcoin emissions as hard forks such us Bitcoin Cash and Bitcoin Gold. And these emissions are more bigger than fiat currency emissions, every fork makes volume twice bigger, it is geometry progress of volume. You are merely supported by other's belief/dream/misunderstanding.
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November 09, 2017, 12:44:09 PM
 #57

The reason is not far fetched,Bitcoin has stood the test of time and is now widely accepted by most merchants,hence the increase in it's volume notwithstanding some of it's weaknesses.

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November 09, 2017, 01:52:36 PM
 #58

The reason is not far fetched,Bitcoin has stood the test of time and is now widely accepted by most merchants,hence the increase in it's volume notwithstanding some of it's weaknesses.

I agree here, Bitcoin can't stand it. Those forks simply improve the way Bitcoin is working therefor I agree with it.

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November 09, 2017, 03:40:47 PM
 #59

Bitcoin is predominant because it has a future. It was built to defy all odds.

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November 09, 2017, 11:58:58 PM
 #60

Bitcoin is predominant because it has a future. It was built to defy all odds.

Forks have been speared with a fork, and looking at them, you know what?

They're done.
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