A Flood of Bitcoin Forks Coming....4 more here before Jan 2 2018! Sheesh!

[Searing]

Well we already have

Bitcoin (BTC)

Bitcoin Cash (BCH)

Bitcoin Gold (BTG)

Bitcoin Diamond (BCD)


Another 4 are below:




Feel free to add to this thread any other dubious forks, coming down the pike. Don't think any will go anyplace, but the closest thing to a crypto

train wreck on their attempts, that I'm gonna witness, real-time, on bitcointalk!

Again, feel free to add any more you trip over on this thread

consider also taking the poll

[tanert]

Where shall we keep BTCs to benefit of incoming forks?

[Searing]

*reserved* (This list of forks could *, unfortunately,* get 'damn long'. Thus this reserved post.

Additional Forks will be added below, as announced....


Bitcoin God (GOD) a December 25th, 2017 BTC Fork.

Link to article on this

https://cointelegraph.com/news/forgive-me-father-for-i-have-forked-investor-to-release-bitcoin-god

[Searing]

Where shall we keep BTCs to benefit of incoming forks?

Well, I hope the IRS is not keeping track of these 'supposed' paper profits, from forks on BTC and then say at the end of the year...

*scam fork #127 hit your BTC wallet as a snapshot on dec 22nd 2017 at a price of $8.93.....being money from the air (like mining) you need to pay

this as income tax, as such*

talk about a way to muck up my life, how would you even keep track, of every tom, dick, harry ....fork falling from the sky, snapshotting off BTC?

That would put a crimper on things. (The IRS really does not like $$$ falling from the sky, even if imaginary....they find it annoying (like crypto mining)

and make you pay!

[Red-Apple]

what i am interested in, is to find out how many will be a victim of these forks... these are not simply making a new coin, they are bringing in a lot of things with them.

the latest one being bitcoin gold brought a lot of scammers in. some of which were advertised by the team itself like web wallet they were advertising.

additionally there is only a finite number of characters you can use instead of "1" and "3" to make the address different to prevent dumb mistakes like sending to a wrong address.

Where shall we keep BTCs to benefit of incoming forks?

a very risky method, better used with smaller amounts:
deposit on an exchange like Yobit and be the first one who received these fork coins and dump them when they are still high.

[Searing]

what i am interested in, is to find out how many will be a victim of these forks... these are not simply making a new coin, they are bringing in a lot of things with them.

the latest one being bitcoin gold brought a lot of scammers in. some of which were advertised by the team itself like web wallet they were advertising.

additionally there is only a finite number of characters you can use instead of "1" and "3" to make the address different to prevent dumb mistakes like sending to a wrong address.

Where shall we keep BTCs to benefit of incoming forks?

a very risky method, better used with smaller amounts:
deposit on an exchange like Yobit and be the first one who received these fork coins and dump them when they are still high.

Also remember, if you cash out your BCH say, NOW, in time the IRS will have tools (they have 7 years) to look at blockchain etc.  The IRS could have issues with this in the future.

My CPA lady said that if you move it/spend it or whatever in less than 1 year and 1 day...you would pay 40% capital gains,

BUT BECAUSE IT WAS MONEY OUT OF THE SKY and you messed with it, they could treat it like MINING and tax it as income! (The IRS really, really

hates $$$ from the sky, thus why mining is screwed as income)

LIKELY, the IRS will treat these AIR DROPS, like stock-split gains in value, if you don't touch them in 1 year and 1 day and do regular capital

gains after that fact, you'd likely be fine....

So myself, I'm not touching the stuff, it can still sit on my BTC address, like mushrooms, my BCH and BTG and BTD can all just co-mingle...

not worth the hassle/risk/etc of reporting as income, in my case, if you don't have a lot of BTC on your snapshot, yeah sell the forked coins ASAP.

But be aware, you will be taxed for them, at the very least. (good old USA and you are assumed to self-report correctly, or you will be screwed)

but again, likely, if you just leave them alone and don't sell, no issues....thus my bet

[Headachez]

Why so many forks though? I mean... I get that it gives extra currency to those with bitcoin. But whats the underlying principle behind them? Do they improve bitcoin somehow?

[eternalgloom]

Where shall we keep BTCs to benefit of incoming forks?

Well, I hope the IRS is not keeping track of these 'supposed' paper profits, from forks on BTC and then say at the end of the year...

*scam fork #127 hit your BTC wallet as a snapshot on dec 22nd 2017 at a price of $8.93.....being money from the air (like mining) you need to pay

this as income tax, as such*

talk about a way to muck up my life, how would you even keep track, of every tom, dick, harry ....fork falling from the sky, snapshotting off BTC?

That would put a crimper on things. (The IRS really does not like $$$ falling from the sky, even if imaginary....they find it annoying (like crypto mining)

and make you pay!

That's something I hadn't even thought about... I would be interested in seeing what kind of consequences these forks might have for your taxes in the future.
Would you still get taxed if you don't cash out your forked coins or if you don't have access to your private keys anymore?

If they start taxing all additional revenue made from these forks, you might end up owing more than you could pay.
Makes me happy that I don't live in the US.

[alyssa85]

They're only doing this because of the frenzy people went into to get their bitcoincash and bitcoingold coins.

Bitcoincash was a legit fork, bitcoingold was pre-mined and their official site linked to a wallet that stole bitcoins when you put your seeds in.

People need to ask themselves whether these freebies are worth getting their bitcoins stolen.

[shamzblueworld]

One result could be the price is gonna keep going upwards in the speed of a rocket.
But won't it actually derail the progress of bitcoin? I mean people will split, money will split, there may not be one strong bitcoin afterwards and there could be many bitcoins(alts).
What do you guys will be the biggest impact or actually what negative impact could it have on bitcoin?

[Searing]

They're only doing this because of the frenzy people went into to get their bitcoincash and bitcoingold coins.

Bitcoincash was a legit fork, bitcoingold was pre-mined and their official site linked to a wallet that stole bitcoins when you put your seeds in.

People need to ask themselves whether these freebies are worth getting their bitcoins stolen.

Well, say you want to make your own crypto coin. (scammer or not)

1) I can make an alt coin in the traditional way...it launches at 0.0000001 USD....I hype it for 3 years and it is at 12c USD! (yea!)

or

2) you can call your altcoin Bitcoin Gold. Use the x13 protocol, GPU mine it, has 210 million coins, as max made, etc.

This has NOTHING to do with BTC, but the name and a prayer to the ASIC gods that this will work!

And as of this moment, Bitcoin Gold (BT is $302.07 USD

With all the talk of ICO's and such being banned etc. This whole make your BTC fork coin angle, will be all the more profitable and possible!


Damn, are we gonna see a lot of BTC labeled forked coins! It is gonna be the crypto version of the biblical flood....Ack!

[pat4cryptoreal]

I learnt that  more fork will make bitcoin transaction very fast and enable less transaction charges but I have abserved that even after some of the fork we have had already the transaction is not fast and the charges are still much. So I want to know any other function of bitcoin fork.

[Opquar]

Let them be. The more there are, the more people will realize that they are shitcoins. I do not even plan on claiming any.

[tanert]

Where shall we keep BTCs to benefit of incoming forks?

Well, I hope the IRS is not keeping track of these 'supposed' paper profits, from forks on BTC and then say at the end of the year...

*scam fork #127 hit your BTC wallet as a snapshot on dec 22nd 2017 at a price of $8.93.....being money from the air (like mining) you need to pay

this as income tax, as such*

talk about a way to muck up my life, how would you even keep track, of every tom, dick, harry ....fork falling from the sky, snapshotting off BTC?

That would put a crimper on things. (The IRS really does not like $$$ falling from the sky, even if imaginary....they find it annoying (like crypto mining)

and make you pay!

I really dont care about IRS since i am already living in a "tax paradise" country. For sure it is risky to run behind scammers in order to catch some peanuts. Yobit seems a good oppurtunity.

[tiggytomb]

There is another one coming December 25th Bitcoin God (GOD) https://cointelegraph.com/news/forgive-me-father-for-i-have-forked-investor-to-release-bitcoin-god

It really is getting out of control, I mean everyone likes free money but really for forks sake.

[Beerwizzard]

Where shall we keep BTCs to benefit of incoming forks?

Nowhere. Sooner or later the miner fee for sending somewhere your btc somewhere to grab a new fork will be more than your potential profit from the new coin.

Well, say you want to make your own crypto coin. (scammer or not)

1) I can make an alt coin in the traditional way...it launches at 0.0000001 USD....I hype it for 3 years and it is at 12c USD! (yea!)

And now try to imagine how much money will you spend to hype such a shitty fork for the whole 3 years. Imho it will be much more then your profit.

Damn, are we gonna see a lot of BTC labeled forked coins! It is gonna be the crypto version of the biblical flood....Ack!

All those forks are taking less media space each day. Pretty soon the average user won't even know that bitcoin had another fork just imagine that in some month you fill find that you can get XX shitcoins for your btc.

[michkima]

I really blame bitcoin cash for this shitty bitcoin fork mayhem. They started it with the promise that they will be the new and the only bitcoin everybody needs. But honestly, they just made another altcoin. Then comes those other shit coins that think they can oust bitcoins. Then it just gone crazy with bitcoin gold and bitcoin diamond, they're just plain creating shit coins just to make a quick buck! What is this, Pokemon? I'm guessing next ones are Bitcoin Crystal, Bitcoin emerald, Bitcoin Ruby, Bitcoin Sapphire, Bitcoin White, Bitcoin Black, Bitcoin FireRed, Bitcoin LeafGreen, Bitcoin Pearl, Bitcoin Platinum. Yeah you guessed it, name all the Pokemon games and that would be the new Bitcoin fork!

[martina14]

This is the reason why people now are holding bitcoin and with that theres a lot of demand with btc and the supplies are really shortening now .. therefore bitcoin value in the market and still expecting more rise on the price ..

[Searing]

This is the reason why people now are holding bitcoin and with that theres a lot of demand with btc and the supplies are really shortening now .. therefore bitcoin value in the market and still expecting more rise on the price ..

That is the reason for BCH. You can't increase the limit on BTC beyond 21 million coins, just make a fork/alt of BTC and viola 21 million coins on the fork...and  low difficulty...only

problem is the FUD to promote this and push the Alt.

Also, BCH allows you to run longer your OLDER Sha-256 miners etc. Assuming your pump of this Altcoin worked, which it seems to have...sad, but true!

Plus a lot of FUD is deliberate from BCH and other Bitcoin forks...makes for more BTC being dumped in a panic that pushers of the other forks can grab up

at an otherwise cheaper price, if no FUD then if you never forked, from btc at all. Thus you'd have a lot higher price in your whale endeavors to grab cheap coin!

(example: assume there was consensus and NOTHING did fork like BCH etc....the scaling solution was fixed, you had lighting and other options...all was well

in Bitcoin land....what the frack would the price be now..if as a store of value BTC was united...frack, IMHO, we'd have 24K USD coin now)

win/win/win for the folks forking BCH and other altcoins.....a very pretty game plan..evil wise anyway :

It also is getting damn hard to mine BTC with difficulty rise/etc...Everyone who has any accumulation before 2016, with the price rise of 1k to 11k now, is NOT selling

any BTC if they can help it, and thus third, the only way to accumulate coin is to do the FUD game and forks and such...shake the BTC tree ....so the weak hands will fall

out, sell their BTC, and you can grab cheap coin for a longer period of time....god help your whale like endeavors...if you had to pay 24k a BTC to fill your coffers

anyway, not going away, IMHO, not gonna get any better...just too fine an angle to have your cake and eat it too.

[cryptonoob312]

Looks like it's the beggining of the end of bitcoin. It's like Yugoslavia splitting to many smaller countries.