People tend to replicate what happened, they all seem to think that Bitcoin Gold is going to be like Bitcoin Cash => Very profitable.
I don't think it will: Look at BCH right now, it is struggling because Bitcoing Gold is coming. You think this pattern is replicable how many times?
Beware Investors, don't get burn by this new Pump.
Quality projects are the key to have a good return.Totally agreeing with you @penguinpablo.
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All Bitcoin forks can end up cannibalizing each others (BCH is already down to $315 from ATH $900) and other weak altcoins and ICOs. However, one of the forks (I believe only Bitcoin) will come out as winner, others will be struggle and strong altcoins will flourish there after.
Yes BCH isn’t doing so well right now. I would imagine it’s likely we will see the same thing happen after the next fork (a brief pump in th price of the newly spawned version of bitcoin then a dump).
Bitcoin kills itself with these separations and I'm 100% sure that one day it's going to die out completely, in favor of cryptos holding real value, like Ether, IOTA or even Monero.
Hi @vlemon - I appreciate your insight. In the grand scheme of things I wouldn't say Bitcoin Cash is "struggling." While it's down more than 50% from its highs, it's #4 in Market Cap of every coin onthe planet and sits at a $5.2 Billion market cap. To me that's not really struggling considering it was literally created "out of thin air" 2 months ago! For people holding 1 Bitcoin at the end of July, their BTC moved up from under $2500 to currently $4800 plus they have Bitcoin Cash worth $315. That's more than doubling your value simply "holding" a Bitcoin for 2 months! Realistically, that kind of rise every 2 months shouldn't be considered easily replicable on a consistent basis. Personally, I'm going to be holding Bitcoin no matter what over the long haul. Many people seemed to get stressed when there are "forks" and "splits" but in reality these new coins that are generated for holders of Bitcoin are just becoming what I'm calling "cryptodividends" and are essentially a bonus to holders of Bitcoin. When the markets are more perfected on a global level, the value of the "dividend" would get deducted from the price of the Bitcoin the moment after it's issued to the holders of Bitcoin, but the markets are there yet, so essentially the owners of Bitcoin are just getting a bonus. It will be interesting to watch how this unfolds and what the value becomes for these next cryptodividends that will be issued in November. I'm now following you and and upvoted. Hope you will follow me for original content and news about Blockchain, Bitcoin, Cryptocurrency and ICOs. Cheers! @thoughtchain
Steemit crashed during my comment and I am too lazy to write it all again.
I don't really agree with you. Forks and Splits are bad for cryptos in my opinion as they show the speculation and can help people to call it a bubble.
Then, when you have 1 BTC trading at $3000 before the fork, there is no economic/financial reason that after the fork you get 1BTC at $4500 and a BCH at $500.Thank you for the reply @thoughtchain.
You call it dividend, I call it speculation and crazyness.
If it was a dividend, as in the Stock Market when you get a 1$ dividend, the share price decrease by the same amount. Split then? If a company splits, after the split the Market Cap of both entities is quite the same (for a few days at least).
I'll see you around ;)
I don't think this Easy Fork Profit will last because it is just fake as the BCH price is showing right now.
And I don't think Bitcoin forks hold any quality.
I think that on the long term, all of them are going to have a steep and constant decline. Currently, they have value because of the "name" of Bitcoin, some sort of brand recognition that brings trust.
The crypto market is extremely volatile, after all, and people are often afraid of the unknown.
As long as blockchain becomes part of out everyday lives, Bitcoin Cash, Gold and all the likes are going to be deemed useless, IMHO.