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RE: We Survived Bitcoin Cash, Now Brace Yourselves For Bitcoin Gold - Another Bitcoin Fork, Coming October 25th

in #bitcoin7 years ago

This is where the beauty of the free marktet comes in. If people don't see the value in the fork or if it doesn't gain any backing, support, or sever a purpose then it will just fall on its face.

If it does serve a solution then it will just take a portion of the bitcoin supporters with them making just another altcoin. This isn't bad because whatever bitcoin can stand the test of tim will be the best bitcoin and allows users to have options.

From what I am realizing hard forks are nothing more than another ICO or altcoin being created. It's good for consumers in that we get to choose which one is the best (or what we thing is the best).

Finally, all publicity is good publicity. Drops in price just means the more bitcoin I am able to purchase and part of the reason I'm ramping up my activities here on steemit!

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For the most part, I agree with you. That's ok, to have many initiatives on top of the same concept. But please keep in mind there are already hundreds of colored coins on top of Bitcoin - which raises the question: "why would you pay $200 for one Bitcoin Gold, when you have the same type of minting and mining with, let's say, PeerCoin or FlorinCoin?

 7 years ago  Reveal Comment