what would bolster your point is that the initial premium in the futures has dropped.
Bitcoin Price Thread
- Thread starter Magna
- Start date
You just don't get the forks, Do you?
so why don't you explain it, in detail ? or post a link that is not just pro-BTC.
Simple: if you are a miner your hardware can only run one piece of software at one time. If you run Bcash software you will (hope to) create some coins if you are lucky: those coins will be Bcash. And NOT some other coin like Bitcoin or Litecoin. No! Bcash software will only create Bcash coins.
So Bcash and Bitcoin and Litecoin are all DIFFERENT coins with each its own software and features. One of its features is Limited-supply: Bcash and Bitcoin both have 21 mil, Litecoin has 84 mil. But Ethereum for instance has no programmed Limit: it will grow for ever (so not so much suited as store of value).
Now you might think: why did old Bitcoin holders get so much free Bcash when that coin started its existence?
Well, normally Alt-coins are created with new software and features and no user-base at all. It's hard to get a user-base and market the new coin. Normally coin-developers pre-mine to finance its marketing. When done well and the coin really has some good features it can become a success, but changes are very slim.
It's just much easier to copy (fork) a whole block-chain (what Bcash did) to get a huge user-base. So Bcash has other software (features) but has its user-base copied from Bitcoin, but it could just as easily copied the Litecoin-blockchain to get all the users from that coin instead.
It's all a free market: supply and demand will determine what a coin is worth. It doesn't matter how the coin is created or copied: what matters is its user-base and how much they value their coin. Bcash has just as many original users as Bitcoin, but still it's only about 10% valued. Just because Bcash's features aren't what Bitcoin is (or might be) offering.
Ok, good explanation (as far as I can tell). But now my question...if you can just keep forking a whole block chain isn't it just a matter of time until a "better mouse trap is invented" ?
Maybe that has already happened with Bcash ? Ie:Rodger Ver selling BTC , buying Bcash.
What will happen to the price of BTC when the masses just buying the hype of the "first one" discover the "new better one"? What is the price of a 1st generation anything ?
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Bitcoin cash and super Bitcoin ... Etc are not new alt coins , they are just another form of Bitcoin , a different version with an added supply , Roger ver is already advertising btc cash as Bitcoin .
Many forks will follow in the future , when people realise that the new forks are bitcoins with a better feature they will switch to the new versions , it's a matter of time .
Like any software with new updates , people move to the new versions and ditch the old one , that's technology for you , like windows and mobiles .
I cut my hand if Bitcoin price won't drop to $100 if not less , it's a hype for a new technology which will fade gradually , then peeps will switch to the next hot thing , could be a whole new thing , or a new coin , or just a better new version of Bitcoin .
Supply of coins will be infinite , many options to choose from . We already have more than 100 million bitcoins and counting .
Bitcoin and bitcoiners will be forked .
Many forks will follow in the future , when people realise that the new forks are bitcoins with a better feature they will switch to the new versions , it's a matter of time .
Like any software with new updates , people move to the new versions and ditch the old one , that's technology for you , like windows and mobiles .
I cut my hand if Bitcoin price won't drop to $100 if not less , it's a hype for a new technology which will fade gradually , then peeps will switch to the next hot thing , could be a whole new thing , or a new coin , or just a better new version of Bitcoin .
Supply of coins will be infinite , many options to choose from . We already have more than 100 million bitcoins and counting .
Bitcoin and bitcoiners will be forked .
What time horizon, please?
PS. With that level of conviction you better be short in size, cause you will make it big when it happens..
I think it will drop to zero.
Nothing is impossible for the hackers.
Hackers might manage to mine billions of bitcoins making bitcoins worthless.
Hackers might manage to steal bitcoins and cause massive panic and bitcoin price will nosedive.
I am sure hackers are working very hard now.
Hackers huh? Whoa
I was concerned about that at first but they did not make more bitcoins at all after the forks.
Keep reading the subtle points and implications in the Hoi post above until you understand it.
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