Hard Fork Question That Blows Your Mind

[Jessica Ruder]

Can you hard fork a coin such as litecoin (which has about 60 mil supply), but change the new coin's supply to that of bitcoin (about 17.5 mil), and then have anyone who owns litecoin receive the forked coin on a proportional basis (if you had 1 litecoin you now get 0.3 new coin)? All the hard forks I see seem to be at a 1:1 ratio...So is this possible to do? Please Explain. Thanks!

[aplistir]

Of course it is possible.
You are basically just making a copy of the code, and change few small things, like the amount of coins.

Should be easy.

PS. That is why many altcoins have very low value. They are easy to make. And if there is nothing new or original, where would the value come from? 

[Herbert2020]

you only need to do a quick google search about bitcoin forks, there are about 50 of them, maybe more. check each and see how many chances they have made. we have all kinds of things, 1:1 airdrop, 1:1000 airdrop,... different algorithms, different block times,... in other words you can change literary anything that you like when you are forking a coin and create a new one out of it.

but the change has to be meaningful otherwise as aplistir said when you just "copy" some other project without putting much thought into it, you are creating a worthless coin even if it is traded for some value for a short time.

[makishart]

Can you hard fork a coin such as litecoin (which has about 60 mil supply), but change the new coin's supply to that of bitcoin (about 17.5 mil), and then have anyone who owns litecoin receive the forked coin on a proportional basis (if you had 1 litecoin you now get 0.3 new coin)? All the hard forks I see seem to be at a 1:1 ratio...So is this possible to do? Please Explain. Thanks!

They are using 1:1 basis to make sure any holders will receive it proportionally. for me, most of existing hardfork token and coin seem can't be called as a token and coin that generate from hardfork because they have not issued caused by there was a change in the main protocol. most of them are only usual coin that created by a team of developers.

[bitmover]

Should be easy.

PS. That is why many altcoins have very low value. They are easy to make. And if there is nothing new or original, where would the value come from? 

That's the problem with forks, and why you should sell them as fast as possible.

Usually forks are premined, then they do a lot of marketing after their bags are full of pre mined coins...

[Jessica Ruder]

I know when you fork a coin you can give the new coin out at a 1:1 ratio, or even a 1:1000. BUT can you give it out at a 1:0.1 ratio? So it's a REDUCED ratio. For example you hard fork litecoin (60 mil supply), but make the new supply at only 6 mil. Then give the new coin out to anyone holding litecoin at a 1:0.1 ratio? Some tech specs on how you can do this would be great! Sorry if I sound like a total newb 

[BADBITCH]

Of course it is possible.
You are basically just making a copy of the code, and change few small things, like the amount of coins.

Should be easy.

PS. That is why many altcoins have very low value. They are easy to make. And if there is nothing new or original, where would the value come from? 

Obviously why correction was needed
Exchanges are delisting the useless altcoins day after day
Because there were no trade since there was no real life usage
Let’s be smart in our dealings

[Jessica Ruder]

Is anyone going to answer my question regarding forking at a reduced rate. Or does no one know the answer...? So far people are just responding about how forks are worthless...which is not what I was asking...

[Cnut237]

Is anyone going to answer my question regarding forking at a reduced rate. Or does no one know the answer...? So far people are just responding about how forks are worthless...which is not what I was asking...

Sure you can fork at a reduced rate, but it isn't really reduced, it's still the same proportion of the total. I don't see what the point would be. Individual coin value is irrelevant unless it is considered alongside the total number of coins.

Say there is coin A at $1 and there is a total supply of 100 million coins, and say coin B (the forked version) has 1 million coins, then the starting price for coin B would be $100... in this situation both coins would be the same.
So if you had 100 of coin A before the fork, then the fork with supply reduced by a factor of 100 gives you 1 of coin B... so you have $100 worth of both coins, there's no difference.

[Ryananda]

so far I have not personally thought about Hardfork, because of the many jobs I have to go through so I have not had time to think about hardfork, even though the news is currently circulating ETH will be hardfork, and for hardfork ratios I've seen a 1: 1 ratio, more than that never.