Bitcoin split in two in August when the digital currency officially forked creating Bitcoin Cash. Bitcoin gold was created when bitcoin forked again in October. And now the SegWit2x fork is looming. Meanwhile, bitcoin continues to hit new record highs.
We asked Nolan Bauerle, the director of research at CoinDesk, to come in to help explain what exactly happens when a cryptocurrency splits and whether it undermines the strength of the coin.
Read more: http://www.businessinsider.com/sai
Forks break the 2 basic principles of Crypto Currencies: They are now Centralizing the Coin (Miners are now the ones with the control) and basically Cloning coins that makes them more profit... like good old bankers. Miners should adapt to the challenges that the coin brings just like real Gold miners battle nature. Bitcoin is based on many characteristics of Gold. At least they shouldn't be able to use bitcoin on the name of the new coin because that is what it is just a new coin.
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There is no way the (((Central Banks))) are not heavily invested in the crypto's with their imaginary money. What is their downside? They can just print and swap until they control them. Swimming with sharks.
So what is the best overall wallet.? Seems like it would be better to have a wallet that includes forks.. in a sense it seems by having the forks included in your purchases diversifies you more making your overall investment safer or am I incorrect?
"Bitcoin Cash" (BCash) is a scam when they claim to be the real Bitcoin. They forked to 8MB and they can't even fill 100kb blocks. THERE'S NO DEMAND FOR BIGGER BLOCKS. Bitcoin is digital gold, nobody cares about BCash to store actual wealth. The bigger the blocks = the more centralized the network becomes since less and less people can run full validating nodes. For some reason most retards don't mention this simple fact.
Buy BTC and DUMP ALL FORKS! enjoy free money.
This sounds like a buch of kids drawing money then arguing whos has the better drawing. Economics is retarded as always and its always going to be folks that dont want to roll up their sleves and do some real god damn work.
Bitcoin Cash is meant to be a global payment system on the blockchain as originally created. That's not going to happen with the old network capped a 1 mb run by a network with a decade old hardware doomed to never be improved.
A global payment network is going to happen and no one has to ask for your permission. Deal with it.
the value of bitcoin will always increased time by time. if you have much money better to invest in bitcoin. for now 1 BTC = 7033.61 USD if you buy 1 BTC and hold it until December 2017 the value could be raised to the 8k USD when you sell it on dec you get profit 1k USD
Neither commodity, nor currency
The lack of clarity about its origin is another big issue related to bitcoin. In olden days, highly priced metals like gold, silver, etc. were used as currencies. Then came currencies printed by governments (or central banks) and these are called ‘fiat currencies’. Though its proponents claim that cryptocurrency is ‘mined’ using complex mathematical formulae, they are reluctant to call it a commodity. They also claim that it is not controlled by any government and so, it is ‘democratic’. Therefore, cryptocurrencies don’t fall into the ‘currency’ category either. “It can be very risky for businesses, industry and people to trade or invest in bitcoins as it is just a formula, not backed by any tangible asset, but by sheer demand.
Joe "legal tender" doesnt mean shit. Fiat currencies aren't backed by nothing and the fed has inflated and destroyed 99% of the dollar's value since 1913. This is why prices have sky rocketed over the past century. Government cannot ban bitcoin because its an open source ledger which means nobody can tamper with its code. So lets see here... shall I chose a government, worthless, fiat ponzi scheme called the US dollar or a mathematical, un-hackable piece of code that can never be forged and is secured by blockchain technology? hmmm ya I will take bitcoin but thanks for your insight.
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