I just heard that there will be upcoming bitcoin fork. Is there any who know what is bitcoin fork and why do forks happen ? What do you think the effect of fork. Share your own opinions...
I'm not a tech expert, so this is what I kno on the subject. A fork might happen for various reasons and essentially it will create an alternate path in the network. Sometimes forks are forms of updates to solve real problems, and some other times, they just represent different views for the future of the network. Bcash wanted bigger blocks, because they thought that would solve some problems with fees and transaction times. Now we have bcash with big bloks, and we continue to have bitcoin that will follow a different path.
Now comes bgold, that thinks that mining is to centralized and that mining should be asic resistant and made with GPU, in order to allow more users to participate in the process. After the fork we will have bgold, and bitcoin will continue its path.
I think there could be a fork that results in not altcoin at all. Let's say bitcoin found some major problem in it's network. It could fork to solve it, and everyone would continue this new path, and forget the previous one. That happen with ether, but I'm not sure it ever happen with bitcoin.
So you will probably see many forks in the future, and I'm ok with them because they also serve as a "filter" to the community. The guys that really wanted bigger blocks can now stay with bcash if they really believe in that, and the bitcoin supporters get more united, because they choose to stay with BTC.
