Bitcoin forks: Money for nothing, sex for free

JackRab said:
The bitcoin idea is going bust... the technology behind it will last, but the idea itself is rich with fraudulent behavior and people.... and there is no doubt in my mind that at one point in time it will completely fail and prices will evaporate as soon as the big holders dump everything.
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There is no doubt in my mind: that are wrong. And if you are so sure put your money where your mouth is, like I did. And we will talk again in say 10 Years? or more if you want additional room for getting it right?

Anyway: in my post I didn't agree in anyway with those entrepreneurships. I just explained to you what the hell is going on, as that was your own question. I myself hate to see this explosion of alt-coins, ICO's and split-forks and all the chaos and scams hitching on. This all blurs the focus on the one and only Bitcoin. But that comes with this mind blowing disruptive innovation of blockchains and smartcontract. It distributes entrepreneurship to billions of people around the world.
 
Hoi said:
1.And if you are so sure put your money where your mouth is, like I did.
2. hate to see this explosion of alt-coins, ICO's and split-forks and all the chaos and scams hitching on.
3. the one and only Bitcoin.
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1. It is dangerous to trade against the madness of the people. I am sure TSLA will go bankrupt, but I don't outright short it. The same with cryptos. The only recurring argument for bitcoin is: price.

2. That is what you get in a decentralized, unregulated market. Comes with the territory really.

3. This is where you are deluded. There is no "one and only" crypto. Cryptos are easy to make, easy to replace and they are not protected by any copyright. That also means their prices can not stay up for forever. Nothing like that did in the history of mankind.

I bet on history, not on a "one and only" Litec... I misspoke, Bitcoin. :)

By the way, evolutionarily, when a fork happens, the new, improved coin (if it is actually improved and better than the old) should take over the valuation and the usage. That way we would get a better and better crypto with more and more features. the market should vote for the better product. So far this didn't happen. But who knows, maybe it will with a truly improved fork/coin. Otherwise forks has no point beside quick money making.
 
Pekelo said:
Cryptos are easy to make, easy to replace . .
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Pekelo, in writing the above..... in all those years you are trolling crypto threads, you haven't learned anything yet. You keep repeating the same 2013 nonsense.

There is a reason why the Dollar is king of Fiat, and Facebook is king of Social-media and Bitcoin is king of crypto. And it has nothing to do with "easy copy and replace".
 
JackRab said:
Bitcoin Gold is the brainchild of Jack Liao and is launching as a hard fork of Bitcoin. The goal of BTG is to become a better gold than Bitcoin. The chief way they have decided to do this is trying to solve miner centralization through a proof-of-work change

So... someone just decided that he could 'fork' off some coins, because the mining process is more fair to the public and uhm... give himself 1% in premining... (how much is that).

I'm just shaking me head. I just cannot believe that that's the way it works.

So you've got a public, who totally believes in digital coins... who still think it's got a limited supply and therefore are very much like gold and that gives it value.... who are being pushed into another coin that will absolutely work, because of the gullibility of these people... and that's all absolutely not weird at all.... :rolleyes:

This guy, Jack Liao... is going to create thin air... out of thin air!!!!

It's a hack, like you've found a hack to create new coins or points in a game... and they're doing it right in front of everyone and it's all fine... because they are willing to pay for it anyway.

This doco at time point 27:14 very much reminds me of where we're getting to now. There's pretty random people who are just quitting their jobs, thinking about 'trading digital coins' for a living... people with kids etc.... Just like the 90's people are just piling up into it just because it's going up. Hey, maybe we're not at the top yet... but it sure looks like this bit from 20 years ago! (courtesy to @Pekelo for pointing to this in another thread)

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Seems these bitcoin "forks" are like a company doing a secondary offering... increasing the shares in circulation while reducing the value of the shares before the new shares hit the market.

Funny, the addition of Bitcoin Cash hasn't hurt the value of BTC, has it?
 
Scataphagos said:
Funny, the addition of Bitcoin Cash hasn't hurt the value of BTC, has it?
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No it hasn't. Just as the current BitcoinGold fork will not hurt BTC. Although the November S2X fork is a bit more risky, I think it might crash BTC temporally (if so: a nice moment to buy more). BTC is already heading to $5100.... November-20 is nearing :-)
 
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just21 said:
What exchange will allow you to get your Bitcoin Gold? Coinbase are not supporting it.
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Not aware of any... It doesn't have reply-protection (yet), which is very dangerous for exchanges.
 
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