How do the forks (Bitcoin Cash) plus an additional coming next (maybe as early as November) alter your thoughts on the limited supply. Many of the Bitcoin "haters" say this is a major flaw, while others think it is perfectly fine.
Personally I think it isn't a huge deal, but is a little concerning that although Bitcoin itself is limited to 21 million coins, why can't they just continue to fork and create other pseudo-Bitcoins?
I see the fork of Bitcoin Cash more like a dividend on Bitcoin. Free money for all Bitcoin holders. Bitcoin's price didn't even drop much after the fork.
We may see another fork in November (Segwit2X), but Bitcoin will still be Bitcoin with a 21 million limit.
Why didn't you report this dividend analogy before the fork? I would have held onto BTC to get the dividend. LOL
I agree with the analogy by the way. So time to hold through the next fork
That is an interesting point about it being a dividend! Yeah I think november seems likely for another fork!
Agree. What stops them from just continuing to fork creating new coins each time?
Exactly... I see this as a potential major problem.. But maybe that's just a few of us
Look at bitcoin cash, the bitcoin 1st fork, is people using it? Only a few.. there can be created as many forks as you want but are separate systems, separate software versions, that need separate mining power. It's not that simple as a copy paste. A currency have the power people give: if for new bitcoin version people will buy , it will take value and will work eventually... Otherwise it will just be a unused software that nobody cares about to use or mantain
Very good points here! It does require its own set of mining power and is much more complicated than a copy-paste.