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This is just speculative but the Bitcoin fork was probably the best thing to happen to the price of bitcoin. http://amp.timeinc.net/fortune/2017/08/07/bitcoin-

• solotronics 9y ago
  weird question but why not fork more and people will trade it for BTC. at what point would it not work anymore?
  • erikpukinskis 9y ago
    A fork has to be an idea about what Bitcoin is. This fork worked because some people saw Bitcoin as a settlement layer for a wider system of credits. Other people saw Bitcoin as a monolithic currency. The distance between those ideas caused the split. Similarly ETH saw Ethereum as a beta prototype, and ETC saw it as a final contract. Those two ideas were each strong enough to support a community. But this doesn't work arbitrarily. If I see Bitcoin as a currency primarily for selling ice cream cones and I fork IceCreamCoin, which responds to the seasonality of ice cream sales, there's no guarantee other people will see value in that idea, and mine blocks on my chain, or pay for coins transacted in those blocks on exchanges. This is key to understanding cryptocurrency: there is no central reality. There are as many realities as you want. There are incentives to participate in some of them, but it's voluntary. You can walk away from whoever you want, and decide their money doesn't even exist for you, for any reason.
    • mikejarema 9y ago
      This is a fantastic philosophical summary of what a cryptocurrency fork represents. Thank you for sharing.
  • rrobukef 9y ago
    At the point BTC isn't under pressure anymore. Both forks have value because people give them value. But two forks are worth more than one because it was under immense pressure to scale. It could be that the growth was stunted until the split but I think the fork gave people confidence and became more than the sum. Forking again will probably not relieve any pressure. It wouldnt take off.
  • deleted 9y ago
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