Is Forks are helpful For Bitcoin? If forks happen then will price go up?

[AshikurRahmanKhan16]

I Heard about bitcoin forks, and 5 forks will come soon. But why these forks are happening? Is it good for bitcoin price? If forks happen then will bitcoin price go up more than now?

Please kindly give me info about It. Thank You, Everyone.
Have a good day 

[1714810991]

1714810991

[kollis]

Even me a little worried about the Bitcoin Forks since last four days the bitcoin price is fluctuating and wobbles.  Seems definitely like a bubble. 

[Xavofat]

But why these forks are happening?

In the case of BCH, it was because they preferred to send coins with a larger blocksize.

In this case, it's because greedy developers saw earlier forks' success and thought they'd try to ride off their popularity, with a hefty premine of course.  Generally, there's no serious merit to this.

If forks happen then will bitcoin price go up more than now?

Hard to say.  If it's significant, FUD about BTC being "overtaken" could push the price down, but the combined price would probably be higher.  If it's insignificant, you could view it as a free altcoin which you receive.

[SONG GEET]

Not all forks are good for bitcoin, most of the forked coins were created by bunch of greedy guys who don't have innovative mind and just like to clone other's work.

If there will be huge hype around some forks than people might buy bitcoin to just sell both forked coin and bitcoin after fork so such pumps might not be stable.

[cosmoo]

If the transaction speed will increase, forks will be helpful, definitely. But if there will be some kind of mistake, I don't know.

[Willitivity]

I Heard about bitcoin forks, and 5 forks will come soon. But why these forks are happening? Is it good for bitcoin price? If forks happen then will bitcoin price go up more than now?

Please kindly give me info about It. Thank You, Everyone.
Have a good day 

Basically, forks are good and appreciated if the fork seems to correct something on the Bitcoin network.
But in most recent forks, nothing much has been changed except for inciting fears into some people.
Forks bring increase in the price of Bitcoin because there will be more persons wanting to buy Bitcoin
so as to get the free forked coins.

[Mind Control]

I Heard about bitcoin forks, and 5 forks will come soon. But why these forks are happening? Is it good for bitcoin price? If forks happen then will bitcoin price go up more than now?

Please kindly give me info about It. Thank You, Everyone.
Have a good day 

Forks, either soft or hard, are intended to be beneficial for the Bitcoin Network. Forks are needed in order to upgrade and improve the Bitcoin Network in terms of protocol, for instance. Though they are meant to be beneficial, it is still probably harmful for Bitcoin itself. There could be possible bad sides.

The incoming forks, I believe, are just schemes like BTG, whose developers intend to raise funds magically. I presume that these forks will not harm Bitcoin nor make it shake a little, just like what happened when the BTG fork got underway.

The price could go up since many would want free coins so they would buy more Bitcoin. However, if the FUDster make some moves, the price could go down due to weak hands.

[Irvinn]

In my opinion, nothing bad for bitkoyna his forks, he does not do, except that the appearance of new coins, which partly bear his name, introduce some confusion for beginners in the crypto currency. On the contrary, the emergence of coins that have separated from it contribute to healthy competition and cause the initial bitcoyne to constantly improve in order to keep the title of the leader of the crypto currency. Numerous forks are due to the fact that bitkoyn created specifically with open source so that everyone can create new branches of it, using his entire history of blockchein in a new coin. Therefore, no one can forbid carrying out forks and we only have to observe their commission and use the free coins that appear at the same time. In my opinion, the plugs do not affect the price of the original bitcoin.

[lighpulsar07]

The fork were supposedly used for an upgrade of a bitcoin network or other cryptocurrencies in term of protocol or an upfrade to remove any form of bugs found on the network for example bitcoin cash, the reason why they forked is to show what a 8mb block can do to the network but on the on the other hand, some devs don't look this very seriously and they view it as a source of mone now look there are 5 fork incoming and look at their differences between them nothing right? The forking needs to stop.

[samuraijin]

Not all forks are good for bitcoin, most of the forked coins were created by bunch of greedy guys who don't have innovative mind and just like to clone other's work.

If there will be huge hype around some forks than people might buy bitcoin to just sell both forked coin and bitcoin after fork so such pumps might not be stable.

agree with your words, not all good forks increase in value because most of the branched coins are created by people who are greedy and that's all there is a game of people who are not responsible for the value they make so unstable

[hatshepsut93]

In the grand scheme of things, forks are irrelevant, they are merely tools for FUD and inciting panic among newbies who haven't completely learned how Bitcoin works. Mainstream and crypto media like to report about them because they are a good material for sensational clickbait articles like "Bitcoin is splitting in two". But anyone who has some experience with open-source development understands that forks are a natural part of it. Forks don't create new Bitcoins, they are altcoins airdropped to Bitcoin owners, so they can't do any more harm to Bitcoin than any other new altcoin out there. But because all altcoins share the same design as Bitcoin, they all can be viewed as forks, and for example in Russian community words "fork" and "altcoin" are synonyms.

[poplolnman]

Not all forks are good for bitcoin, most of the forked coins were created by bunch of greedy guys who don't have innovative mind and just like to clone other's work.

If there will be huge hype around some forks than people might buy bitcoin to just sell both forked coin and bitcoin after fork so such pumps might not be stable.

agree with your words, not all good forks increase in value because most of the branched coins are created by people who are greedy and that's all there is a game of people who are not responsible for the value they make so unstable

Bitcoin cash and Bitcoin gold should be the last fork ever , the stakeholders should make a prevention step to make sure another fork behalf Bitcoin won't happened again and again in the future, it's abused already I think recently.

[uszaty43]

THIS IS A REAL EXAMPLE OF WHAT A SHITTY POST IS (google translator = on):

In my opinion, nothing bad for bitkoyna his forks, he does not do, except that the appearance of new coins, which partly bear his name, introduce some confusion for beginners in the crypto currency.

What the fuck? In what language are you writing? It is a shame to see that you are just using a google translator to post a whole bible in here of more than 30 pharagraphs.

On the contrary, the emergence of coins that have separated from it contribute to healthy competition and cause the initial bitcoyne to constantly improve in order to keep the title of the leader of the crypto currency.

I am glad to see that you are not a higher member, because it would be a pain in the ass.

[dimastegar]

If the price of Bitcoin drops because of hardfork, we still get the change of money from the hardfork coins are mostly given for free. And this is the holder of Bitcoin.

[Hannibalis]

These forks are over pumping bitcoin price and i think it's not good for bitcoin in long term. People are creating these forks to earn free bitcoins and double their funds.

[psibenik]

Definitely bad for bitcoin long term. The forking essentially is giving out 'free money', which is why many like the fork, but to some extent the market cap behind bitcoin core transfers to the forked version, diluting the value, and creating more uncertainty & division.

[fanbeila]

Forks are created by some group of miners for their individual benefits.It has now become more easy to create a forked coin instead of creating an altcoin.Its not good for the reputation of bitcoin.It earlier made bitcoin price to rise initially since most of people bought bitcoins to claim the free coins but then the price fell down a little as those people just sold their bitcoins after claiming free coins.

[nullius]

In the grand scheme of things, forks are irrelevant, they are merely tools for FUD and inciting panic among newbies who haven't completely learned how Bitcoin works. Mainstream and crypto media like to report about them because they are a good material for sensational clickbait articles like "Bitcoin is splitting in two".

This.  These ridiculous forks are a calculated attempt to destroy Bitcoin.  But have no fear.  Bitcoin has thus far always crushed all who try to harm it; and it is only getting stronger.  Soon enough, “Bitcoin Cash” as well as the latest forks will join their antecedents in the graveyard of dead forks (XT, Unlimited, Classic, NYA/2X…).

[...] and for example in Russian community words "fork" and "altcoin" are synonyms.

May I suggest that the Russian language needs a new word, to disambiguate.  All words are birthed somehow!

[dawoodkhan97]

With the previous forks such as Bitcoincash, Bitcoingold
and with the upcoming forks, Bitcoin price will go up as
people would want to have "free money" but I think in
the long run this would not be good for Bitcoin.

Bitcoincash is the prime example here as it has already
created division amongst the community.

[audrey12]

The main reason why forks are made is to help sustain the increasing demand of bitcoin. Forks introduce alternative coins to divert bitcoin demand but as what we saw in the history so far none of those forks alts were able to surpass bitcoin in fact they only make people gets more interested with bitcoin investment because of the fluctuations which make bitcoin value more appreciated.