The possibility of another bitcoin hardfork.

[Mpamaegbu]

are they really going to risk dividing again while theynwill not benefit from it?
the hardfork will once again fall same as Bitcoin Cash where only few will use and then blackrock aill just be giving away free money. if they are willing to do that then Bitcoiners are ready to spend it.

I ain't sure BlackRock will lose anything if a Bitcoin fork happens again like it did in 2017 that birthed Bitcoincash. It was a 1:1 for those who were hodling Bitcoin then. So, in the event of that again, it's going to be extra coins and money for any person hodling Bitcoin.

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The possibility of this seems very hard and come to think it, right from on set Bitcoin has been staying strong and there might not be anything of such even in the next 30 years.

Well, we can't hazard a guess on how long such an event can stay before occuring again. Fork was a thing in 2017 to the point that I felt it was going to be a regular occurrence. It hasn't been. Maybe, that frenzy has died off until now.

[1714861743]

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[1714861743]

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[DVlog]

~

The possibility of this seems very hard and come to think it, right from on set Bitcoin has been staying strong and there might not be anything of such even in the next 30 years.

Well, we can't hazard a guess on how long such an event can stay before occuring again. Fork was a thing in 2017 to the point that I felt it was going to be a regular occurrence. It hasn't been. Maybe, that frenzy has died off until now.

Agree on that because right now new blockchain projects are either layer zero or ethereum L2 solution. Dev is not interested in creating a new network from the bitcoin core network as most of its previous attempts were massive failures. The only benefit those previous hard forks generate is that they give people a lot of free money that they dump into the market to buy more bitcoin. Dev took lessons from history and approached it with different measures.

[digaran]

Come to think about any possible hard fork and splitting the chain like it happened many times in the past, you have to wonder, why are they shooting themselves in the foot?
Because if you have a substantial amount of hash rate to have any influence, why would you remove your self from the competition and allow other miners to benefit by replacing you?
Since you'd be moving to a new altcoin and would allocate your hash rate to mine the new coin, which will become more of a dead coin over time, you would be doing the rest of the miners a favor.

Chinese miners made a mistake by migrating some of their hashing power into alt/forks, it allowed US to take control of the majority of hash power.
And now if US miners decide to fork, it'd be a strategic mistake IMO. So I'd say there will be no forks, but US is known for such mistakes. That's why you should be ready for anything.

[DVlog]

Come to think about any possible hard fork and splitting the chain like it happened many times in the past, you have to wonder, why are they shooting themselves in the foot?
Because if you have a substantial amount of hash rate to have any influence, why would you remove your self from the competition and allow other miners to benefit by replacing you?
Since you'd be moving to a new altcoin and would allocate your hash rate to mine the new coin, which will become more of a dead coin over time, you would be doing the rest of the miners a favor.

If they are ever going to do anything like this it will be to rewrite the rules for the network which will be beneficial for them. I think they have the money and if they have the hashrate then they just need support from most of the dev community to promote the new bitcoin network and deframe the old one. This is not an excuse for them to try but the point is are they interested in doing anything like this? The future will reveal the answer.

Chinese miners made a mistake by migrating some of their hashing power into alt/forks, it allowed US to take control of the majority of hash power.
And now if US miners decide to fork, it'd be a strategic mistake IMO. So I'd say there will be no forks, but US is known for such mistakes. That's why you should be ready for anything.

I agree with your statement but I think Chinese miners shifted their hashpower due to the unfavorable policy of their government towards bitcoin miners and those who didn't want to shift their mining power just relocated their base of operation to another country.

[KingsDen]

It's impossible to control the Bitcoin network at all. BlackRock buying mining companies shares doesn't mean they want to gain access to the network. They can't change anything, and they can't make any harmful decisions. And forking Bitcoin means nothing. They can't gain anything by forking the Bitcoin blockchain. It will just create a new altcoin. And still, Bitcoin will be uncontrollable under any conditions. If BlackRock is a US secret mission to control Bitcoin, then they are wrong.

It is not totally impossible to control the bitcoin network, just that it is extremely difficult to control the network. It will definitely cost more than you will gain to control the network.

Talking about BlackRock and the purported hidden agenda to control the bitcoin network. I haven't sense any conspiracy and involvement of the US government. Although, anything is possible.

Talking about another hardfork. It is not totally out of point to envisage anothe hardfork, it will definitely happen sooner or later. But as you said, the resultant coin will be an altcoin just like the bitcoin BSV

[gunhell16]

This has already been discussed. It's not easy to takeover Bitcoin, because Bitcoin is not only the network and miners but the users too. Without having the majority of everyone onboard - miners, exchanges, businesses, developers, community, holders and so on - this would be nothing but a costly and failed attempt of takeover. Something like what happened with SegWit2x.

And I don't think that Blackrock put that clause with intention of artificially fulfilling it, it's just a contingency for an edge case.

In my few years in the cryptocurrency business, I have seen many people say that they can take over the state of Bitcoin in the market, but almost all of those who said it were from the beginning hot topics about them.

But when the hype subsides, the issue gradually quiets down or cools down. So I also agree with what you said about Blackrock. We don't even know what it is really planning for something like that.

[TimeTeller]

This has already been discussed. It's not easy to takeover Bitcoin, because Bitcoin is not only the network and miners but the users too. Without having the majority of everyone onboard - miners, exchanges, businesses, developers, community, holders and so on - this would be nothing but a costly and failed attempt of takeover. Something like what happened with SegWit2x.

And I don't think that Blackrock put that clause with intention of artificially fulfilling it, it's just a contingency for an edge case.

In my few years in the cryptocurrency business, I have seen many people say that they can take over the state of Bitcoin in the market, but almost all of those who said it were from the beginning hot topics about them.

But when the hype subsides, the issue gradually quiets down or cools down. So I also agree with what you said about Blackrock. We don't even know what it is really planning for something like that.

We have seen a lot of new projects claiming to be better than btc, even those forked coins.
However, we can see now that no matter what, they can't take over the popularity of btc as well as its adoption.
I think even if top companies will be behind with hard fork, they won't surpass btc's position.