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RE: Bitcoin (BTC) Mid-Day Update: Could this be how the correction will finish? Check out this chart!
Don't worry. Many many many more forks to come in the future.
have you heard about LIGHTNING BITCOIN fork which will happen on december 23rd :).
It's hilarious actually.
P.S. I have some BCH.
P.P.S. No, I'm not crapping my pants over BCH. Well maybe a lil' bit. :)
Super Bitcoin on the 14th or block 498888
All IN on this one! (until ligthning bitcoin arrives obviously)
I'm actually starting to think that all these forks are what is going to keep bitcoin alive and decentralized. It doesn't HAVE to be the original chain to represent the same thing. In fact, after ten years, you would hope they would upgrade the system! I think all these forks will eventually level out the price field....long from now. Perhaps Bitcoin Gold and say...Bitcoin Diamond will be worth something similar in comparison to Gold vs Diamonds. That's taking the names pretty far, but the point remains clear I believe.
I don't disagree with your point, but at the same time all the forks also dilute the 21 million BTC. These two forces need to be looked at together to get a better picture of the long term value of the hard forks. Without reading the future, it is difficult to know with certainty whether hard forks are good or bad overall for the ecosystem.
My thought on that....competition is always good in a free market!