Can Everyone Make a Fork ? / Who Behind The Hard Fork ? / What the Solution During The Storm ?

in #bitcoin7 years ago (edited)

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Matrix-Bitcoin-ANI.gif

Bitcoin is on the verge of splitting in two:
Bitcoin Cash & Bitcoin.

Your private key will now control tokens on 2 different chains.
The total value you hold is now the sum of the two tokens.
If the sum is greater than the value of the original tokens,
holders make a net profit from the investment.
I have no idea how a split will play out.
It could fail in many ways which include technical failures or
splitting the community.

I - Can Everyone Want Make a Fork ?
It's very simple.
Bitcoin is opensource, all the code is available for everyone.
Everyone that wants, even you, can get the source, make a fork and start developing a crypto currency with new rules on top of bitcoin.
At the time of the hard frok the 2 currencies will have the same data and rules
( transaction history, account addresses, balances ... ).
Thats why you get the new coin for free.
After the hard fork each coin will continue its development path.
As stated everyone can hardfork bitcoin and it won't be a big deal, but in this case some very rich people with a lot of support (5% of the mining power) have decided to do it.
Of course speculations and price is what drives the bitcoin community, because its a currency and people will prefer the one with bigger potential,value, etc.
If the new coin turns out to be very valuable more miners can switch to this new chain and this may cripple the bitcoin core price.

II - Who Behind The Hard Fork ?
Are the central banks behind this seemingly successful attempt to undermine bitcoin and to push the bitcoin community to adopt segwit out of nowhere.
As the more centralized a system is, the easier they can subvert it, so they're working to make bitcoin more centralized.
Or it is the invention of digital currency...without any push back from banks?

III - How you feel about selling Bitcoin into litcoin & Steem and
buying it back when the strom is over?

storm.gif

Source : Giphy.com

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Every comment, every upvote, every support is really appreciated.
Thanks For Reading

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Checks out, @lordoftruth. Damn cryptos :^). I want to see more folks like You on this channel.
Currently I am curating inteviews with blockchain people and also steemians.
So question: Who would you like to see approached in a life conversation?

PS: Better your all 5 tags, for more exposure, no?

I find i still have the need to hedge my crypto with fiat when trading, even though there's nothing I'd like better than not to have to! Maybe one day in the future if and when something like BTC is really used mostly as a currency and not just speculation, I won't need to😀

https://steemit.com/meme/@lordoftruth/steemit-followers-your-success-how-you-check-how-many-of-your-followers-are-dead
This post will help you to know how many dead followers you have and ... some other info that I discussed with you in past about the dead followers
I hope to enjoy this post
Wish you a great sunday

Can your followers re-appearing after death?

Thanks for comment
I agree with you , it is good option

That's very nicely and creatively explained i like it.

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Checks out, @lordoftruth. Damn cryptos :^). I want to see more folks like You on this channel.
Currently I am curating inteviews with blockchain people and also steemians.
So question: Who would you like to see approached in a life conversation?

I saw your first comment
Thanks for reply
I do not have time

kk, sorry to bother you. Keep it up, with the Matrix references ;)

No problem my friend .. I will visit your blog , when I will have sometime
Steem on


This post got a 5.30 % upvote thanks to @lordoftruth - Hail Eris !

This post has received a 0.94 % upvote from @booster thanks to: @lordoftruth.

Explained simply thats good

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