Forking Coin and Bitcoin

[CryptoNubee88]

Why is the usage of forking? in the end we still using bitcoin and dumping the forking coin

does forking give any advantage to the users?

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[1714639848]

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[Lauda]

Why is the usage of forking?

Trying to manipulate the market due to self greed, in an attempt to squeeze out more Bitcoin from others.

in the end we still using bitcoin and dumping the forking coin

Correct.

does forking give any advantage to the users?

No. All it does is create confusion and possibly damage if there is no replay protection. Roger Ver, Jihad Wu and co. are mostly responsible for those.

[HabBear]

Why is the usage of forking?

Trying to manipulate the market due to self greed, in an attempt to squeeze out more Bitcoin from others.

This response couldn't be further from the truth. The reason for a hard fork is an attempt to propose an improvement to the Bitcoin (and its blockchain). A success would lead to a better "bitcoin" and a failure proves that the a majority of bitcoin miners believe that is good as it is.

does forking give any advantage to the users?

No. All it does is create confusion and possibly damage if there is no replay protection. Roger Ver, Jihad Wu and co. are mostly responsible for those.

No. It could offer a benifit, that's why a fork is proposed. Roger Ver hasn't had influence in all forks, so stopping talking shit!

[Lauda]

This response couldn't be further from the truth. The reason for a hard fork is an attempt to propose an improvement to the Bitcoin (and its blockchain). A success would lead to a better "bitcoin" and a failure proves that the a majority of bitcoin miners believe that is good as it is.

I'm not sure if you're stupid or trolling. The person is talking about contentious forks, which are inherently not Bitcoin, and create additional altcoins hence the forking coins in the title. A contentious hard fork can never be an improvement of any kind to Bitcoin, regardless of what it brings, as it creates a diverging chain.

No. It could offer a benifit, that's why a fork is proposed. Roger Ver hasn't had influence in all forks, so stopping talking shit!

Again, you either didn't read or understand the thread.
It's quite funny that you think that you have the capacity to correct me on some statements regarding Bitcoin. Then again, sig. spam it is.

[bitae]

Why is the usage of forking? in the end we still using bitcoin and dumping the forking coin

does forking give any advantage to the users?

BCH pumping hard right here and rightnow. Don't miss out. This is going to be the new BTC soon, BCH will be worth 5k easily post fork.
We're going to the Mars.

[Lauda]

BCH pumping hard right here and rightnow. Don't miss out. This is going to be the new BTC soon, BCH will be worth 5k easily post fork.
We're going to the Mars.

Shill account created for pumping BCH? I wonder if you're on Roger Ver's payroll or whether you're just a bamboozled idiot.

[jekjekman]

Why is the usage of forking?

Trying to manipulate the market due to self greed, in an attempt to squeeze out more Bitcoin from others.

This response couldn't be further from the truth. The reason for a hard fork is an attempt to propose an improvement to the Bitcoin (and its blockchain). A success would lead to a better "bitcoin" and a failure proves that the a majority of bitcoin miners believe that is good as it is.

How could it be a better bitcoin if it will be named as a different coin, so what will happen to those people who invested on bitcoin on the first place if the fork became successful that lead to a "better" bitcoin? So if a fork was successful that only means that "bitcoin" will be an alt coin right?

does forking give any advantage to the users?

No. All it does is create confusion and possibly damage if there is no replay protection. Roger Ver, Jihad Wu and co. are mostly responsible for those.

No. It could offer a benifit, that's why a fork is proposed. Roger Ver hasn't had influence in all forks, so stopping talking shit!

What benefit can a fork offer? What I understand is that a fork is like an ICO without offering it but it came from the records of BTC and a new is created, so which one should be considered as an alt coin?

[p3rplexamous]

Gives everyone that owned coins on the original chain equal amounts of coins on the new forked chain.  That would be the most obvious advantage.  If the forked coin is worth something, its "free money".  Negatives are brand is diluted and there is confusion to newer, less educated users.  Navigating multiple coins that have the word Bitcoin in the name can be confusing for an outsider.

[Lauda]

How could it be a better bitcoin if it will be named as a different coin, so what will happen to those people who invested on bitcoin on the first place if the fork became successful that lead to a "better" bitcoin?

It is not. HabBear is a known spammer that tried to infiltrated the Collectibles section once, but people caught up to him pretty quickly.

So if a fork was successful that only means that "bitcoin" will be an alt coin right?

No. Regardless of the success of a contentious fork, it can never be Bitcoin. It will always remain an altcoin.

What benefit can a fork offer? What I understand is that a fork is like an ICO without offering it but it came from the records of BTC and a new is created, so which one should be considered as an alt coin?

You are confusing:
a) Contentious vs. consensus forks.
b) Hard forks vs. soft forks.
Tl;dr explanation: consensus based soft and hard forks can improve Bitcoin. Any kind of contentious hard fork is not Bitcoin nor an improvement of any kind. It creates an altcoin, and altcoin features aren't "bitcoin improvements".

[Antscibs]

When the bitcoin fork occurs in couple weeks will I get both “chains, forks, of bitcoin” in my wallet? Does it matter where my bitcoin is held?

[Lauda]

When the bitcoin fork occurs in couple weeks will I get both “chains, forks, of bitcoin” in my wallet?

No and no. You will only have Bitcoin in your current wallet. You will need to install a S2X compatible wallet, and either transfer your wallet there or import private keys to be able to use the S2X altcoin. However, due to lack of replay protection, I highly advise against trying to spend S2X coins as someone who isn't extremely tech savy. Otherwise, you're likely going to lose money.

Does it matter where my bitcoin is held?

As long as you hold your money in a wallet that gives you full control of your keys, e.g. Bitcoin Core, Armory, Electrum.

[Antscibs]

When the bitcoin fork occurs in couple weeks will I get both “chains, forks, of bitcoin” in my wallet?

No and no. You will only have Bitcoin in your current wallet. You will need to install a S2X compatible wallet, and either transfer your wallet there or import private keys to be able to use the S2X altcoin. However, due to lack of replay protection, I highly advise against trying to spend S2X coins as someone who isn't extremely tech savy. Otherwise, you're likely going to lose money.

Does it matter where my bitcoin is held?

As long as you hold your money in a wallet that gives you full control of your keys, e.g. Bitcoin Core, Armory, Electrum.

Ok, thanks. Do you have any suggestions of S2X compatible wallets?

[Lauda]

Do you have any suggestions of S2X compatible wallets?

No. Read what I have written:

However, due to lack of replay protection, I highly advise against trying to spend S2X coins as someone who isn't extremely tech savy. Otherwise, you're likely going to lose money.

[Antscibs]

Ok, got it. Sorry I originally misunderstood what you wrote. Thanks.

[dothebeats]

does forking give any advantage to the users?

That is up for the users to decide.

Generally, forking is just creating another copy of the original source code but with added codes and features, nothing more. Some improvements from the previous, original versions are found in the new code that the developer of the fork "believes" that should be added in the main coin. The users then (but more specifically, the miners who control the hash power) decide which coin would they use and they prefer. The original coin may die, but in most cases, the fork often loses support after it has been pumped hard and dies ultimately.

That's how I view forks now: money bags and disruption.

[AmXProX]

When the bitcoin fork occurs in couple weeks will I get both “chains, forks, of bitcoin” in my wallet?

No and no. You will only have Bitcoin in your current wallet. You will need to install a S2X compatible wallet, and either transfer your wallet there or import private keys to be able to use the S2X altcoin. However, due to lack of replay protection, I highly advise against trying to spend S2X coins as someone who isn't extremely tech savy. Otherwise, you're likely going to lose money.

Based on what I read once you have a bitcoin you will get the same amount of coin from the fork. Since you need to install a S2X compatible wallet do you need to transfer your bitcoin from your original wallet or will it just be the new coin? If transferring of bitcoin is needed to get the new coin once you got it can you you transfer your bitcoin back to your original wallet or both coins should stay on the new wallet?

[Lauda]

That is up for the users to decide.

No, it is not.

Generally, forking is just creating another copy of the original source code but with added codes and features, nothing more. Some improvements from the previous, original versions are found in the new code that the developer of the fork "believes" that should be added in the main coin. The users then (but more specifically, the miners who control the hash power) decide which coin would they use and they prefer. The original coin may die, but in most cases, the fork often loses support after it has been pumped hard and dies ultimately.

That's how I view forks now: money bags and disruption.

That is only correct if your intention is malicious. In cases of hard forks, the process is as follows: idea -> BIP (Bitcoin Improvement Proposal): a) If user consensus == true -> adoption and activation. b) If user consensus != true -> discard proposal. There is no new/old coin in a consensus based fork. If there is consensus, and if a rule change does happen via such a hard fork, then that chain is Bitcoin and no other.

Based on what I read once you have a bitcoin you will get the same amount of coin from the fork. Since you need to install a S2X compatible wallet do you need to transfer your bitcoin from your original wallet or will it just be the new coin? If transferring of bitcoin is needed to get the new coin once you got it can you you transfer your bitcoin back to your original wallet or both coins should stay on the new wallet?

I don't understand how people can't understand an abstraction of forking, which also makes me question their intellect and comprehension.
Bitcoin: Chain A --> date of fork --> Chain A
                                               --> Altcoin: Chain B.
If you had coins at the date of fork on chain A, you also have coins on chain B.

[deve_isreal]

Is there a way to avoid these people from such fork even if a group of people supports it, or once the wants to have it activated no one can stop them anymore?

[Lauda]

Is there a way to avoid these people from such fork even if a group of people supports it, or once the wants to have it activated no one can stop them anymore?

Bitcoin is decentralized. The source code is open and available to anyone. You can create your fork within a few hours if you know what you're doing. Ergo, nobody can stop you. Just take a look at the "Bitcoin Gold" scam for example.

[casascius4thewin]

Why is the usage of forking? in the end we still using bitcoin and dumping the forking coin

does forking give any advantage to the users?

Advantage.. Seems like it did.

Since August this year 2017, BCH, BTG(wonder when it will be in my hot wallet tho) has been created from fork.

Many of crypto investors were expecting that BTC price will declined due to chain split, but look at now,

BTC is breaking ATH repeatedly and other forks are following! (B2X, Bitcoin Silver, etc)


Might be interesting next 2weeks or so..

so.. Advantage? Let's see