Bitcoin Fork Questions

[jerry0]

On wikipedia, there are tons of bitcoin forks that are listed and already happened.


We all know bitcoin cash and gold and many heard of bitcoin diamond.  First off, i assume most people only claimed bitcoin cash and gold right?  Thus diamond and the others they did not?  Here is what is amazing.  There were forks like united bitcoin and superbitcoin.  Then there is one that is segwig2 etc.  Most coins you get 1 for 1 for every bitcoin that you have.  But bitcoin diamond, you get 10 for every btc you have.


United bitcoin and superbitcoin are over 250 dollars each.  Bitcoin diamond is 40 dollars each or so but you get 10 for every 1 so that means 400 dollars for every BTC you have?  Segwig is close to 1000 dollars.  Then there are other coins that are forked that are on the list that i didn't even mentioned yet.  So if someone had say 2 BTC, that mean they are getting 500 dollars worth of unitedbitcoin and superbitcoin each.  800 dollars worth of bitcoin diamond each.  Then when they had the bitcoin cash and gold... they got more money depending on whether they sold it at the lower price or wait and btc cash went up.  And now segwig is close to 1000 dollars each.  So basically this is free money?  Or it isn't because if there were no forks, then btc price goes higher?


I mean imagine someone that had 5 or more BTC then.  I mean aren't they making a lot of money from owning btc?  I mean if you own 5 btc, isn't that like at least 5000 dollars or more assuming you get it and then sell it immediately?  Then there are even more of those other bitcoin forks that i didn't mentioned?


If there are this many forks, why would anyone even sell btc then because this is essentially free money right?

[1714507569]

1714507569

[1714507569]

1714507569

[777asianinvasian]

It is essentially free money given that the forks don't steal your coins. Bitcoin Gold and Bitcoin Cash are safe and we all know this but how much information do we have on the others? I remember reading Bitcoin Diamond is a scam and they are trying to take your coins be weary of them. All the others I am not sure about but the point remains be weary of them until they prove they aren't trying to take your coins.

[Beefcake]

Woah I didn't hear of these extra forks.  Worth looking in to, but yea, be very cautious with your wallet type things.  Does anyone know of guides to these coins, or have further experience with them?  IMO most of them will probably die, but free money is free money.  If possible I will sell them and change them for bitcoins, why not?  But from what I understand it is possible to lose your actual bitcoins if you don't do it right so maybe it isn't worth the risk?  More reading required I guess.

[Anti-Cen]

It is essentially free money given that the forks don't steal your coins. Bitcoin Gold and Bitcoin Cash are safe and we all know this but how much information do we have on the others? I remember reading Bitcoin Diamond is a scam and they are trying to take your coins be weary of them. All the others I am not sure about but the point remains be weary of them until they prove they aren't trying to take your coins.

How do you get the free coins or do they ask for your public key

Coinbase owes me Bitcoin gold but someone tried to hack the nodes when it went live
and I suspect it was the big boys so i am really not sure if i will get any but SEgwit2x seems
safe and this time i moved my coins out of Coinbase to make sure plus Coinbase won't give me
$10 in BTC joining bonus so i trust them as far as i can spit anyway.

[joinfree]

Woah I didn't hear of these extra forks.  Worth looking in to, but yea, be very cautious with your wallet type things.  IMO most of them will probably die, but free money is free money. 

Because of the words that i marked in bold, is the reason of why people are so desperated for forks and why the dev's of those "forks" are using it as a fast-rich scheme.

Came on guys, there isn't a secret key to become a millionaire guy (well, maybe creating forks is a possibility)
But let's be serious for a while, most of those forks are shit, i dont know why there is a lot of people trying to hype all the forks in here because they are free money, they might be free, but you know that you are going to do a big hassle in order to move your bitcoins to the specific wallet or exchange who will distribute them.

And the fees are not cheap enough, $30 for sending the btc's to all the addreses.

I dont know, it is just my opinion, i dont want to have that crap on my portfolio.

[Anti-Cen]

More reading required I guess.

And maths too given the silly high transactions fees with BTC if your coins need to be moved to get the
free ones. You, you err you don't think they are trying to lock us in do you because it's starting to look
that way to me.

Maybe all we will have some left to feed the baby from these free coins so best hold on to them
and hope the bubble does not pop yet.

[Anti-Cen]

But let's be serious for a while, most of those forks are shit

Most of these forks will use code that people like me wrote for free (Not me this time) from Github and
just make some tweaks to the code to get it working so they are no more shit than the original system and in
some cases better and that's without having thieving miners in a monopoly ripping us off on fees.

Having 20,000 full nodes is shit and the 51% attack theory is shit if they designed the code right
to establish trusted nodes (Which they do have) so who's working for the bankers and big oil when
you look at it.

By the way I work as a software developer, have for 20 years and the way they implemented
this block-chain as they call it is useless, wastes CPU and electricity but don't tell the slot machine
players because they all think they are stock brokers and software engineers all rolled up into one.

 

[Mystery Companion]

I suddenly found BTC God today in my account. The value of this fork is 100 times less, then the value of BTC. Of course if you have about 5 or more BTC, then it is very valuable gift, but not for me

[SneakyRik]

Good for you. You might want to hold onto it as price could spike up sooner or later.

[Bukx]

As bitcoiner who hold more than 1 bitcoin is very worth but lets say people only have hundred satoshi? It does not mean anything. Rich bitcoiner is getting more rich because the fork but not for poor.
So if i have at least bitcoin then i will not sell it to get free coin upon fork.

[Beefcake]

@Joinfree I agree.

More reading required I guess.

And maths too given the silly high transactions fees with BTC if your coins need to be moved to get the
free ones. You, you err you don't think they are trying to lock us in do you because it's starting to look
that way to me.

Maybe all we will have some left to feed the baby from these free coins so best hold on to them
and hope the bubble does not pop yet.

I will readily admit that I predicted bitcoin cash would fail quickly, and sold them as fast as possible.  I was wrong so far, and could have got more money I guess, but .2 isn't bad for free so I am still happy.  Goes to show you never can tell.

I think you mean that the forks' bubble will pop?  If you mean bitcoin, I suggest trying to not think in terms of bubbles because when the price goes down you will get scared and sell.  There are specific things that make a bubble and I have not seen that with bitcoin yet (ico's might be a different story).  Lately I have lots of people asking me to help them understand bitcoin and how to get some.  I am reluctant to help them because I am worried they don't understand that 12k-18k isnt a bubble pop.  It is normal for bitcoin.  So I tell them only put in what they are willing to lose.  

Don't believe the FUD you read on Forbes and other major news outlets, those guys hate crypto.  Just hold, then hold some more.  Bitcoin will either fail completely or become widely adopted.  Even if other coins get more market cap, bitcoin will stick around.  Chances are excellent that more people will want to own it in 5 years than they do today.

Don't be afraid of a bitcoin bubble because no matter what happens in the short term, as long as it doesn't die, it will be a good investment long term.

Also I want to point out not to make financial decision based on what some stranger posts on the internet.  Assume that everyone has an agenda and don't believe anyone without finding out for yourself.

Sorry to rant, I just don't want to see people get burned.  More wild swings are ahead.  In fact, we are only seeing the start of wall street money.  Because of the nature of bitcoin, the unprecedented cash flows entering the market guarantee high volatility.  Even today the crypto markets are peanuts compared to traditional asset markets.  Blackstone by itself, for example, manages almost 6 TRILLION USD.  There are also  hedge funds, mutual funds, all kinds of things.  Wait until Americans can buy bitcoins in their 401k and ira accounts.  Did you know that there are more mutual funds that buy stocks than actual stocks?  Strap in and enjoy the ride.

[EinaiOraCoinDev]

I didnt know all the bitcoin names were forks of bitcoin. Are you sure of this? There is no rule you cant name your coin anything addedd to bitcoin. Noone owns the name so who sais they all are related?

Most of them were forks, the only one who wasn't a fork is that weird bitcoin who has been listed for about a year in coinmarketcap.

BitcoinDark if i am not wrong.

[Shreek]

wow. very amazing. and I really want that, but if we just wait fork to get BTC, I think it's impossible. if it is BTC is free, we just make BTC wallet and wait fork, and after that BTC entered automatically to wallet. I think this is hard to understand.

[Marry Finch]

I want to say the following: First, we still can not change the progress of these forks. Whether we like it or not - bitcoin is created with open source and everyone can make branches from it so that the crypto currency is improved. Secondly, shit is obtained as a result of holding coil forks or not, time and the market will show. If they turn out to be shitty - they will leave the market and forget about them. This harm does not inflict the original bitcoin. Third, I consider the plugs necessary, if only in order to make the original bitcoin improve. If he is a monopolist, there will not be any sense. Only in the event that there is competition between them, they will develop.

[Cryptohad]

It is essentially free money given that the forks don't steal your coins. Bitcoin Gold and Bitcoin Cash are safe and we all know this but how much information do we have on the others? I remember reading Bitcoin Diamond is a scam and they are trying to take your coins be weary of them. All the others I am not sure about but the point remains be weary of them until they prove they aren't trying to take your coins.

I think nothing is free, and we are paid for our services that have helped ICO expand its business. and make it succeed. I think fork's just to fix the system.

[Velociraptor73]

So, whats up with Segwit2x advertised for today?
Is it happening?

[BrewMaster]

So, whats up with Segwit2x advertised for today?
Is it happening?

it already happened yesterday (or 12+ hours ago anyways) and the exchanges such as Yobit.net did the distribution and also the price of it already dropped something like 70% and has been falling ever since.

and it had nothing to do with the original SegWit2x fork. this one is a fake with a huge premine!

[gladydark]

A fork is good when it just appears. It is positive to help improve the bitcoin and improve the transfer efficiency of the network. But then the forks were abused, and even some of the miners' teams were pre - mined. These forks will eventually be reduced to garbage.

[wizkid147]

I got out of bitcoin completely the other day.  Too many forks these days.  Each fork also claims to have something better than bitcoin.  I guess it comes down to bitcoin was the first to the market so it will always have the lead.  It is just hard for me to go with bitcoin solely for that reason though...

[HabBear]

Coinbase owes me Bitcoin gold

Nah, they don't.

When you leave your coins with Coinbase or some other exchange you don't own your private keys...technically you don't own Bitcoin because you don't have private keys for your coins. If Coinbase wants to give you Bitcoin Gold it'll be a gift from them, not an obligation. You're lucky they decided to give you Bitcoin Cash!

Chasing these forks is dangerous. Keep your coins in a hardware wallet and you'll always have the option to claim forking coins.