Why Bitcoin Needs Fork? Is Forks are good for Bitcoin?

[akashark]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.

Have a good day. Thank You

[junoreactor]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.

Have a good day. Thank You

Hi akashark. I was still a newbie when Bitcoin Cash was born so I did not follow the story much and cannot really tell, but from what I know, many consider Bitcoin Cash as an altcoin, just like any other altcoin. Truth is, you cannot deny the power of Bitcoin Cash (transactions speed and fees) but many holder dumped it to get free Bitcoin. Those who hold Bitcoin before August 1 had the possibility to claim the same amount in Bitcoin Cash, and many just traded them for Bitcoin or sold them for fiats.
Now, I know Segwit2x was supposed to help Bitcoin, especially knowing that Bitcoin is too limited right now, because of the size of the block (1MB).
Segwit2x size block was agreed to be 2MB, to help transactions be quicker.
Truth to be told, it seems like a fork happens when the community behind Bitcoin disagrees on future developments, hence a fork to split the blockchain. It does not give Bitcoin a good image though. I think the more forks will happen and the more people will simply ignore them and keep their Bitcoins.
What's happening right now is a lot of people just profiting from these forks to get free money.

[Zebra.Guy]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.

Have a good day. Thank You

Truth is, you cannot deny the power of Bitcoin Cash (transactions speed and fees)

Isn't it only because BTH is not used much, compared to bitcoin? Bitcoin on its good days has low transaction fees, too. It is during days (well, weeks) like the current one, when we have more than 200k unconfirmed transactions, that we have fees 10-folds the regular fees.

I am wondering what would happen if the BCH had  a moment of 200k unconfirmed transactions, too

[junoreactor]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.

Have a good day. Thank You

Truth is, you cannot deny the power of Bitcoin Cash (transactions speed and fees)

Isn't it only because BTH is not used much, compared to bitcoin? Bitcoin on its good days has low transaction fees, too. It is during days (well, weeks) like the current one, when we have more than 200k unconfirmed transactions, that we have fees 10-folds the regular fees.

I am wondering what would happen if the BCH had  a moment of 200k unconfirmed transactions, too

A major difference is the size of the block, not sure if you are aware but Bitcoin Cash is 8MB.

[iamTom123]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly. Have a good day. Thank You

In general sense, we should be welcoming a fork because it just means an upgrade to the current system making it improved and much better than its present state. Now, what makes a fork a hard one? Hard fork can happen when the decision about to be implemented is being objected by some individuals or a group of people and they are deciding that they will not go away with what was approved by the majority and in this case there can be a split or a contentious decision. In the case of a hard fork, a new altcoin can be born just like what happened with BitcoinCash and recently the BitcoinGold. Since there is a great incentive to have a hard fork because of the new altcoin, it has become customary with Bitcoin and now with so many hard forks lining up things have become like a big joke.  It seems that to have a united stand has no bigger incentives and so some Bitcoin decision-makers prefer to get into the hard fork. In the end, it is largely  all about greed and preservation of self-vested interests.

[Mark Promo]

Before the release of the first forks, the cost of bitcoin increased sharply. People wanted to get free new coins on stock exchanges. Now this phenomenon is no longer there. I think that most forks will disappear.

[colonel_koval]

Before the release of the first forks, the cost of bitcoin increased sharply. People wanted to get free new coins on stock exchanges. Now this phenomenon is no longer there. I think that most forks will disappear.

Actually it doesn't make much sense that the value of a token should go up when the fork of it is created. The forked coin takes away some value of the main token. If x is worth 10 and y of value 1 is split from x, than x should be worth 9 after the split, not 10. No value should be created from thin air. If it is created it only shows that people have completely crazy expactations and they can wind up themselves somehow.

[Egoitss]

For my perspective Bitcoin had forks actually  is very bad for market over all and BTC, because despite free money and enormous BTC bull market it can't last very long. I support only BTC fork as an update without splitting.

[avikz]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.

Have a good day. Thank You

Bitcoin forks are mainly a separation and it doesn't help bitcoin in any way. It's like a divorce case. Your wife suddenly discovers that she doesn't want to live with you anymore, so she left you and court asked you to provide alimony to her by a percentage of your real estate property. That's exactly what is fork in bitcoin. A group of miners think that bitcoin network is not good enough for them, so they create a hard fork and take away a part of bitcoin network with them. So it is beneficial for the group of miners only and not to bitcoin. I hope this explanation helps!

[talkbitcoin]

bitcoin doesn't "need" any of these forks. in fact the usage of term "fork" is only technically true. but in reality what is happening is that they are simply using bitcoin's fame and the "bitcoin brand" (or better said abusing it) to create some altcoins.

and their purpose for creating these altcoins is to become rich. there are multiple ways of doing it too. most common one is to premine it either publicly or hidden ways like releasing the code later to others and mining it themselves silently for a while before releasing it. and of course there is always pump and dumps.

[kier010]

imagine this big people that has a lot of bitcoin and they want to fork and then free money. it is just a excuse and they exploit the opportunity by forking bitcoin.

[teilwalL05]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.

Have a good day. Thank You

Bitcoin forks are mainly a separation and it doesn't help bitcoin in any way. It's like a divorce case. Your wife suddenly discovers that she doesn't want to live with you anymore, so she left you and court asked you to provide alimony to her by a percentage of your real estate property. That's exactly what is fork in bitcoin. A group of miners think that bitcoin network is not good enough for them, so they create a hard fork and take away a part of bitcoin network with them. So it is beneficial for the group of miners only and not to bitcoin. I hope this explanation helps!

In Investopedia A hard fork involves splitting the path of a blockchain by invalidating transactions confirmed by nodes that have not been upgraded to the new version of the protocol software.

I really think your example was near the real thing in what's gonna happen with a hard fork with bitcoin and the new Altcoin that will be created the original bitcoin would not get anything regarding upgrade or new things that will make it different, but the ones that will have that is the coin that created by the Fork which they are the only ones that will get the benefit of the Hard Fork or even worse sometimes they are declaring that they are the new bitcoin, just like bitcoin cash did to some investors.

[VitKoyn]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.
Have a good day. Thank You

Bitcoin doesn't really need hard forks it is just that we can't stop other people from forking it because Bitcoin code is open source and fork developers can make easy money from it (that's why more of this worthless fork will come). Hard fork doesn't really help Bitcoin because it is a proposed solution to Bitcoin problems and aims to replace the original Bitcoin, but it may help the way that it can boost the price of Bitcoin, what might happen is investors will buy more Bitcoin before the hard fork occurs to receive more fork coins then after a successful hard fork, Bitcoin holders will claim their free coins then sell it to buy more Bitcoin, that will result in surge in price of Bitcoin.

[ohzeih5n]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.

Have a good day. Thank You

blockchain success technology : have more than 1000 coins only 50 is successful.

Bitcoin success coin : have more than 5 forks only 1 is successful BCH

[hessanseen]

A small number of forks and contrasts, of course, is good, and the fork can help bitcoin. But now fork has been abused. Some forks have been organized by some miners and even have been excavated before. Fork is being used by some people and become a tool to gather wealth quickly.

[fiulpro]

Bitcoins forks are something that are really needed in bitcoins economy, since for our software programmes we need an update after every periodic time interval forks are doing just the same, they add an update in the existing bitcoin software thus they are more like something that is solving an issue with the existing core code, but forks can be bad too, sometimes the aim of the developers of fork isn't to legitly do all this but sometimes its just to earn profit and to get the tittle of the real bitcoins ^ this is what was thought about segwit2x who knows how much truth it holds.

[groundcontrol67]

I just heard from my friend that,  5 Bitcoin Forks can be happen in next 4 months. I was wonder that why bitcoin needs fork? is it helpful for bitcoin stability? Please Tell me kindly.

Have a good day. Thank You

People have different ideas about the direction bitcoin should take and so they make a fork which is basically a copy and then they can follow their own paths. As for stability it is not helpful as often it pumps up the price as people want free coins.

[AngelJoshua]

Base on my experienced everytime that theres a fork the bitcoin price will going to boooom after that , and base on some people i talked they said that its important too to help the bitcoin to increase more it price correct me if im wrong but i think forking is a good thing but also we can see it soon after many forks done

[BrewMaster]

forks are like upgrades to bitcoin. and it needs them to add new functionality for example bitcoin needed a fork to enable P2SH (multi signatures) and it needed a fork to enable Segregated Witness.

the things you are seeing these days and you have mentioned are not forks for bitcoin, they are rather forks from bitcoin. so bitcoin doesn't need them. they are just creating a new altcoin out of an already working system!

[setifien19]

Yes, forks can bring something positive to bitcoin ( unless they are just made to collect some bucks and ignore the new born coin ) ie, some people ( who do not know about digital coins) discovered BTC through these forks ( free advertising for BTC ) .
To know more about this issue, I invite you to read this article : https://www.coindesk.com/forks-might-help-bitcoin-reach-true-destination/