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Scarcity still exists because the fork creates another coin than the original but a fork. Keep in mind that scarcity is due to trackability (history).

nerdponx 9y ago
Is anyone actually auditing all these blockchains?
- ThomPete 9y ago
  You wouldn't have to that's the whole point of the blockchain that the validation is done by the network itself. All you need is to know which coin/token you are on and you know whether you have the original or not.
  - syntaticSugar 9y ago
    I think what he/she meant was the code base
    - ThomPete 9y ago
      Yes and thats missing the point.
  - nerdponx 9y ago
    Perhaps. How do you know who controls the hashrate?
- sova 9y ago
  An integrity verification service for [the codebase of] ICOs and other coins would be a welcome innovation
sktrdie 9y ago
With the Bitcoin Cash fork I can spend my coins on both histories. That is the opposite of being scarce.
- ThomPete 9y ago
  You can't sell Bitcoin Cash for the same price as you can sell Bitcoin. So no it's not the opposite it's exactly what I said.
empath75 9y ago
Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an exact duplicate of bitcoin with all of its strengths and weaknesses at any time other than inertia.
- ThomPete 9y ago
  You are missing the point here. It's about the history of the individual coin not about the technical properties of coin in itself. You can build as many cryptocurrencies as you want to. They aren't bitcoin as they don't have the history of bitcoin which means that they aren't the same. Only bitcoin is bitcoin, because only bitcoins has the history they have.
  - ufo 9y ago
    Bitcoin forks like Bitcoin Cash and Bitcoin Gold use the same block chain history as Bitcoin.
    - ThomPete 9y ago
      You are also missing the point here. You can't get the same for bitcoin cash as you can for a bitcoin. So no they don't use or have the same history after the fork and they aren't the same which is why one is 4 times more worth than the other.
      - ufo 9y ago
        Of course you cant get the same for them! It is expected that a fork that creates new coins out of thin air will lead to cheaper coins.
        ThomPete 9y ago
        And so scarcity still exists which was the original point I made and which was being challenged. Each coin has a unique history. You can create as many forks of bitcoin as you want it doesn't change the fact that there is only one bitcoin.

nerdponx 9y ago

Is anyone actually auditing all these blockchains?

ThomPete 9y ago
You wouldn't have to that's the whole point of the blockchain that the validation is done by the network itself. All you need is to know which coin/token you are on and you know whether you have the original or not.
- syntaticSugar 9y ago
  I think what he/she meant was the code base
  - ThomPete 9y ago
    Yes and thats missing the point.
- nerdponx 9y ago
  Perhaps. How do you know who controls the hashrate?
sova 9y ago
An integrity verification service for [the codebase of] ICOs and other coins would be a welcome innovation

sktrdie 9y ago

With the Bitcoin Cash fork I can spend my coins on both histories. That is the opposite of being scarce.

ThomPete 9y ago
You can't sell Bitcoin Cash for the same price as you can sell Bitcoin. So no it's not the opposite it's exactly what I said.

empath75 9y ago

Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an exact duplicate of bitcoin with all of its strengths and weaknesses at any time other than inertia.

ThomPete 9y ago
You are missing the point here. It's about the history of the individual coin not about the technical properties of coin in itself. You can build as many cryptocurrencies as you want to. They aren't bitcoin as they don't have the history of bitcoin which means that they aren't the same. Only bitcoin is bitcoin, because only bitcoins has the history they have.
- ufo 9y ago
  Bitcoin forks like Bitcoin Cash and Bitcoin Gold use the same block chain history as Bitcoin.
  - ThomPete 9y ago
    You are also missing the point here. You can't get the same for bitcoin cash as you can for a bitcoin. So no they don't use or have the same history after the fork and they aren't the same which is why one is 4 times more worth than the other.
    - ufo 9y ago
      Of course you cant get the same for them! It is expected that a fork that creates new coins out of thin air will lead to cheaper coins.
      - ThomPete 9y ago
        And so scarcity still exists which was the original point I made and which was being challenged. Each coin has a unique history. You can create as many forks of bitcoin as you want it doesn't change the fact that there is only one bitcoin.