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

[Searing]

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

Well, BTC was supposed to PULL as one unit, as far as scaling and such software improvements, you don't like it, you are supposed to make your own fork.

Doubtful, Satoshi thought forking to an alt, could be used to game the system, and make all that money, and concentrate BTC network power in pools and large miners.

The sad part is we could reach consensus on all this in 1/2 a day! It would take the 'scare' of BTC price falling to like $1,200.00 bucks to do so, IMHO, but by god

there would be consensus and integration on scaling/etc, damn quick!

So, not sure, not ideal, that is for sure.

(now to my other boogie man, what if Craig Wright is Satoshi? and he really does have access to billions of BTC, held in a trust, that opens Jan 1st, 2020 to him? Ack!

On his proof?

..you know if that is true, with his temperament, he will flush/sell most of it...with the price going down into the 100's of dollars... and watch the Bitcoin experiment burn right? by the way,

he was treated, by the BTC community and the press? you betcha!

..damn...only 1 out of 100 chance of this.but always scares the crap out of me...lol) Anyway, enough ghost stories.

[1714674393]

1714674393

[A1exander]

I voted 'less than 25' because it is already becoming ridiculous. Each subsequent fork will be less and less profitable and get less and less attention, until such forking becomes meaningless. I think even 10 is too many, let alone 25.

[Oulay]

Let them fork as much as they want. As long as I'm getting free coins I won't be complaining 

[amishmanish]

Apart from the forks, there is also those that are completely new coins with the bitcoin name. For example Bitcoin Dark, Bitcoin White. Then you can have the full rainbow too.

So combining all these, i think 25 is reachable. Even when it becomes irrelevant, i guess programmers, hobbyists and plain mischief players would do it just for the sake of it.

I mean sharing a name and blockchain history with the original coin does sound kindda cool. Say what, you may even have these as graduation projects. That'd be a pretty good idea..

[Chandu141]

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!

well said ... why the hell these forks are coming...  are really crazy enough to keep forking these.....

[Chandu141]

Apart from the forks, there is also those that are completely new coins with the bitcoin name. For example Bitcoin Dark, Bitcoin White. Then you can have the full rainbow too.

So combining all these, i think 25 is reachable. Even when it becomes irrelevant, i guess programmers, hobbyists and plain mischief players would do it just for the sake of it.

I mean sharing a name and blockchain history with the original coin does sound kindda cool. Say what, you may even have these as graduation projects. That'd be a pretty good idea..

if i am still in my class , i might have definitely fought with classmates for selection of rainbow colors ......... 

[LTU_btc]

I hope that forking season will end soon. With every new fork it become less worth all hassle to claim new "Bitcoin". I don't think that many people will claim forked coins to get few bucks worth shitcoin.

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

Lol. Wrong comparison. Where do you see end of Bitcoin? If someone decide to make shitfork, it doesn't actually means that Bitcoin is splitting if miners don't start to mine new coin.

[Kprawn]

I am not a big fan of these shit forks. It only takes one of these forks to develop a wallet that might have some backdoor or

exploit to steal people's coins. I get nervous when I see a new fork, because I know there will be thousands of people who

will be running to sweep their paper wallets and cold storage to get their hands on these FREE coins. They expose their hoard

coins when they do this. Most people run blindly into these things, because their judgement is clouded by greed. Using these

untested wallets/software is a huge risk. 

[Bitfort]

As someone else already said:  For fork's sake.
I bet soon there will be also BTC tritium, BTC lithium, BTC 2.0, BTC oil and maybe AntiBTC ( the last one you definitely don't want to send to your BTC wallet )

[johnsmithx]

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

Are you saying that people that have been forced to live under tyranny of the communist terror in Yugoslavia have been better off than they are now living in 7 democratic countries, 6 of which are members of the UN and 2 of which are EU member states? You have no clue, kiddo, no clue whatsoever.

[brontosaurus]

Forks originally were invented to improve the bitcoin network in whole. It comprised of two types of forks. The soft forks and the hard forks. These forks brought in new changes to network improved its efficiency and effectiveness but now people have just made it a way of creating their very own blockchain to work on.

I think the amount of altcoins today has increased so much that people no more trust ICOs they feel that every shitcoin coming in is merely a scam. So people have found a new way to gain popularity with their project. They fork the existing blockchain to create a new blockchain. This would continue until people realize that forks too are nothing more than pieces of shit.

[ladydark]

Where shall we keep BTCs to benefit of incoming forks?

Bittrex is nowadays famous for listing forked coins.You could keep your bitcoins there or at yobit.

In future,forked coins like bitcoin plutonium,bitcoin clay,bitcoin sand,bitcoin dust may even come.But people have lost interest in claiming these forked coins.It was earlier in BCH and BTG people rushed to buy  bitcoins to get free coins.But now,they have realized that most of these were just scam coins fit for nothing.I have never tried to claim any of the forked coins before and would not even claim in the future.

[BitcoinHodler]

As someone else already said:  For fork's sake.
I bet soon there will be also BTC tritium, BTC lithium, BTC 2.0, BTC oil and maybe AntiBTC ( the last one you definitely don't want to send to your BTC wallet )

well there is only a finite number of words in any language and they will soon run out of the ways to fork bitcoin before they run out of these words!
and i don't know if people notice it but it is pretty damn hard for anyone to run these things. each of them need 150 GB hard disk space for the blockchain! and it will be even harder to sync since nobody will be running a node.
how many of these can exist?

[alphacoco]

Enough is enough. Let btc be the semi functioning main stream beast it and stop forking confusing the general public.

[Bitfort]

As someone else already said:  For fork's sake.
I bet soon there will be also BTC tritium, BTC lithium, BTC 2.0, BTC oil and maybe AntiBTC ( the last one you definitely don't want to send to your BTC wallet )

well there is only a finite number of words in any language and they will soon run out of the ways to fork bitcoin before they run out of these words!
and i don't know if people notice it but it is pretty damn hard for anyone to run these things. each of them need 150 GB hard disk space for the blockchain! and it will be even harder to sync since nobody will be running a node.
how many of these can exist?

Yea, the point was devs are always trying to combine it with well known names (in most cases some very expensive things ... gold, diamonds etc.) the ones you imagine a wealth once said. It's obvious marketing move with one and only one target ... TO MAKE MORE MONEY.
Luckily they'll run out such words pretty soon ... so I think there will be 10 more coins max.
I'm not fan of these forks at all, never supported single one (just claim&dump).  

[digaran]

I have a killer domain name that will change everything regarding any forks of Bitcoin, if any body is interested we can work something out, I could give you the AUTH code and then unlock the domain transfer, or you could register with my hosting provider and I'll transfer it to you with full control. only if I could sell my domain for 1.5BTC (you know my long story about buying a house and bringing a girl(more like a prostitute because I don't like the commitment that comes with having a girl friend) which is a boring story?). lol.
I thought people are begging for Bitcoin up to $18000 because of these cumming forks, but when I checked the coinmarketcap to see 1M and $15 Billion volumes, they are not some low life beggars looking to get free shitcoins, not even Wall street jumpers could have poured such amounts, global demand for an easy way to launder money has increased exponentially.

[Searing]

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

yeah I posted this on wall observer...figurred I'd post here for the IRS link...it is possible the 22 plus forked coins of BTC so far
could be a pain in the ass for us with the IRS..small chance, but still...they are kinda clueless

my take below

If you move your coins in the USA it is probably a taxable event (income at the $280 that BCH hit the world, I think it was) ...spend it also (of course)

I'm going by below IRS guideline and hope they just treat it like stock going up..you don't touch it ...this does not matter ....we probably can prove

from the below that it is a hassle to get this stuff and came out of nowhere ....or at least this IRS plug leads me to believe

(on the other hand, the IRS released the 2013 guidelines 10 days before the filing deadline stating capital gains wanted on all BTC spent since 2009 (heh) also the
coinbase where they wanted all 15 million account info INCLUDING passwords....because they caught THREE GUYS using coinbase to hide taxes...so wtf they
literally could call all the forks like BCH income and expect us to pay..doubtful though)

anyway, this gives me a little pause that they are not gonna go after the BCH and other forks as long as you don't mess with them or move them or sell them kool-aid...I know zip
this is an example of what I'm doing and why I'm not even looking in the general direction of any forked coins...they can live or die on the vine...I ain't doing zip.)

https://www.law.cornell.edu/cfr/text/26/1.451-2

anyway, some modest hope I won't get screwed over...but how I am approaching this...no looky..no touchy...any forked coin...

brad

[yojodojo21]

Another new coins will be sbhown and will be supported by greedy miners, but what else could we say, it's all about money no other than, bitcoin can't peak it's price to the fullest because of those forks, I don't think that it is an advantage of bitcoin, and I haven't heard any forks that really contribute in bitcoin after show in for how many months it get's dumped.

[Searing]

Another new coins will be sbhown and will be supported by greedy miners, but what else could we say, it's all about money no other than, bitcoin can't peak it's price to the fullest because of those forks, I don't think that it is an advantage of bitcoin, and I haven't heard any forks that really contribute in bitcoin after show in for how many months it get's dumped.

Supposedly, (do your own research) from what I was told by a buddy, the Segwit/2 fork coming has NOTHING to do with Bitcoin in ANY manner, but the name.

I was told a bunch of guys from Ukraine, hijacked it.I mean it is going to be MINEABLE (supposedly) as an x11 pow coin! Also was told 6 million pre-mined.

But, it is at $404 usd.  On this site https://www.worldcoinindex.com/coin/segwit2x

Supposedly, they go live on Dec 28th, today, not sure if above is live or futures price.

Thus, according to IRS, in some manner, this $$ from the air added say $400 to your income, when it hit the world per BTC.

Last I heard, there were 22 forks of BTC so far....what, am I supposed to keep track of all these for tax purposes? Even if I don't have to pay taxes on them till I move them?

or worse yet the IRS says, they are income when they hit the blockchain as taxable unicorn 'rain'?

This year was weird as f*ck, next year looks worse!

As an aside, however, I have dubious Bitmain D3 x11 miners that will never ROI>...they are evil, this forked coin is evil...maybe I should just go full evil and mine them anyway.

(typing that made me feel dirty)

[cl37007]

The bulk of thes forks will disappear into obscurity and make Bitcoin look like a joke, just people trying to make a quick buck off the Bitcoin name. I hope they all start with zero value and stay that way