Bitcoin: Don't fork it up!

in #cryptocurrency • 7 years ago

Pun intended.

Someone asked me the other day, what is the biggest threat to Cryptocurrency? I responded immediately, A hard fork of Bitcoin.

Some people think it's government, but if Bitcoin is stable no single government will be able to stop is progressed. All other cryptocurrencies capitalize on the strong confidence that Bitcoin has earned.

If a hard fork of Bitcoin, should stumble out of the gate, it will undermine all Cryptocurrency, maybe even take the entire effort to its knees.

Bitcoin has achieved everything one could hope from a first example of a new technology. It has proved the model. It does what it was designed to do and it does it dependably. Now it is a standard bearer.

Bitcoin doesn't have to evolve to be the best version that ever will be. Let the new coins go faster, and provide un-dreamed of bells and whistles. And when those young coins stumble and fail, let's have something to point to and say Cryptocurrency is sound.

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7 years ago in #cryptocurrency by
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     7 years ago 

    I guess the biggest threat to Cryptocurrency is the exponential increasing difficulty.

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     7 years ago 

    Could a soft fork be an alternative?

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       7 years ago 

      Perhaps, but even if nothing is done, other Cryptocurrency can and should replace whatever perceived shortcomings there are. Bitcoin will be unseated eventually, and that's okay.

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