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Author Topic: Hard Fork: Motivations Fueling Bitcoin Civil War  (Read 3208 times)

Goodcat49

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Hard Fork: Motivations Fueling Bitcoin Civil War
« on: March 06, 2019, 12:40:08 PM »
Bitcoin (BTC) versus Bitcoin Cash (BCH) is one of the most antagonistic conflicts that is currently happening in digital currencies. The teams behind each network have massively diverse visions for what the future of the Bitcoin blockchain should be. Although the skirmish originally arose over apprehensions concerning block size, the conflict expanded to include many issues such as censorship, business ethics, decentralization and many facets.

Bitcoin Cash (the sixth largest cryptocurrency by market cap) split from the Bitcoin on Tuesday, August 1, 2017. The fork resulted in two separate networks – BTC & BCH – and also two distinct cryptos by the same name functioning on each blockchain.   

The primary motivation that caused the chain split was discrepancies over block size. When BTC became more extensively adopted, scalability problems became a tenacious issue. Cumulating the block size as a latent solution to this became the topic of powerful discussion.   

The most eminent members of the community behind the fork were: Roger Ver of Bitcoin.com; Jihan Wu of Bitmain; and Craig Wright (the person claiming to be Satoshi Nakamoto).   

Currently, there are a series of opinions supporting BTC over BCH. One of the main issues concerning the latter is the security of the system.   

Another argument is decentralization which is at the central of BTC versus BCH. The larger blocks used by the BCH system creates the mining practice involve bigger computational resources.   

BTC is by far the overriding digital asset in the entire system of cryptocurrencies. At press time, it constitutes more than 52.4% of the total market capitalization of all digital currencies.   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-civil-war/


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Hard Fork: Motivations Fueling Bitcoin Civil War
« on: March 06, 2019, 12:40:08 PM »


IyemRoker

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Re: Hard Fork: Motivations Fueling Bitcoin Civil War
« Reply #1 on: March 08, 2019, 11:27:45 AM »
That's right, friend!
Hardfork is very troubling in the world of cryptocurrency.
I also see that this kind of drama doesn't end. But with harfork, the price of Bitcoin can increase the price.
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Re: Hard Fork: Motivations Fueling Bitcoin Civil War
« Reply #1 on: March 08, 2019, 11:27:45 AM »
:)

Bit

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Re: Hard Fork: Motivations Fueling Bitcoin Civil War
« Reply #2 on: March 08, 2019, 12:11:05 PM »
That's right, friend!
Hardfork is very troubling in the world of cryptocurrency.
I also see that this kind of drama doesn't end. But with harfork, the price of Bitcoin can increase the price.

Yes, it's correct. Sometimes new hard forks are needed to boost the values of coins or tokens. But I think not all coins/tokens can do that. Some of them never plan to provide new hard forks. It is only about what the developers want to do. 
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Re: Hard Fork: Motivations Fueling Bitcoin Civil War
« Reply #3 on: March 08, 2019, 02:05:41 PM »
People said that BCH is just a coin for dump pump because it has not many different when comparing with Bitcoin, it always got a highest increase when the market fomo

               

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jonathancool220

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Re: Hard Fork: Motivations Fueling Bitcoin Civil War
« Reply #4 on: March 11, 2019, 10:57:10 AM »
The effect of HArdfork is that there are always disputes and this is what makes everything messy and makes prices irregular.
But if we are good at trading, then this is the time to look for profit because of the usual, and in my experience, Hardfork always goes up in price until SnapShot arrives.
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Alcor

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Re: Hard Fork: Motivations Fueling Bitcoin Civil War
« Reply #5 on: December 03, 2020, 07:22:16 AM »
Cryptocurrency needs to constantly evolve and one of the driving forces behind this development is the competition between them.  Since this is a completely new direction in the financial world, no one can know how much cryptocurrency will change in the future.  So far, we see that it is far from perfect and needs further development.  Forks are one of the good opportunities for the rapid development of cryptocurrency.  Forks give rise to the emergence and implementation of alternative visions in the development of cryptocurrency, so they should be welcomed despite the numerous mistakes that have been made.

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Re: Hard Fork: Motivations Fueling Bitcoin Civil War
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