What is a Bitcoin Fork?
You may have heard a lot of noise in the media about Bitcoin “forking”. Because we have no analog to forks in the traditional world, some sources have incorrectly referred to Bitcoin forks as dividends or have misunderstood forks as if they expand the supply of Bitcoin. The truth, however, reveals itself in market data. Unlike a stock split, where the resulting shares still refer to the original company, a Bitcoin fork is much more analogous to creating new unrelated digital assets out of thin air at zero cost, and gifting them to existing holders of Bitcoin. A Bitcoin fork does not affect the 21 million supply limit of Bitcoin itself. Let’s dive in.
Imagine you have the world’s gold stored in the ultra securely engineered Fort Knox under heavy armed guard. You build a small, poorly engineered shack and call it Fort Knox Lite, securing it with a single guard. You paint some rocks a gold color and put them in the shack. You then announce to the world that you’ve “forked gold” and issued every holder of gold an equivalent amount of free rocks inside your shack.
We need lots of miners guarding Bitcoin, making it expensive to 51% attack. A fork of Bitcoin that has only a few miners, just like your poorly guarded shack, is easy to attack. The code is probably structurally unsound, built by a small inexperienced team of developers with poor peer review, just like your shack. Forked coins aren’t accepted by any existing nodes because they break the rules of Bitcoin. Likewise, people who have chemical tests for gold wouldn’t accept gold-painted rocks. The cost to manufacture the forked coins and rocks is zero since you gave them for free to every holder. This limits the market’s interest in forks of Bitcoin.
As an example, let’s take a look at Bitcoin Cash (BCH), possibly the best-marketed fork of Bitcoin. This coin launched in 2017, at the tail of a long war over the Bitcoin block size, a parameter that affects both the transactional capacity and decentralization aspects of Bitcoin. Everyone who held Bitcoin was given equal amounts of the new coin. Many Bitcoin holders immediately sold this “costless” variety in order to accumulate more of the truly scarce original Bitcoin, driving the price lower. Although this coin shares more than 99% of its code and thus technical DNA with Bitcoin, the market has valued it at only around 3 to 4% of Bitcoin’s value. Dozens more forks followed, trying to co-opt Bitcoin’s brand name, but the market valuations of those fared even worse.
As you consider the thousands of cryptocurrencies that have been created, none of which have significant market value and almost nonexistent liquidity, ponder this paradox: creating Bitcoin forks is free and easy. However, changing the rules of Bitcoin or creating new bitcoins is anything but easy. Next time you hear someone with limited Bitcoin knowledge ask about why Bitcoin is special, answer with that.
bitcoin россия cold bitcoin GET UP TO $132gif bitcoin bistler bitcoin bitcoin evolution bitcoin etherium bitcoin отзывы To collect their email addresses, there are many different methods you can use. I would recommend inserting a newsletter sign-up for your website. That way, anyone that is interested in your ICO, can submit their email address and receive your updates straight to their email inbox.
анонимность bitcoin
autobot bitcoin fire bitcoin
win bitcoin ethereum asics ethereum course bitcoin авито bitcoin пузырь bitcoin адрес wallets cryptocurrency monero обмен lavkalavka bitcoin ethereum капитализация bitcoin ether
monero пулы maps bitcoin bitcoin stock bitcoin комментарии bitcoin рулетка simple bitcoin покупка ethereum
stats ethereum bitcoin prosto bitcoin обменники armory bitcoin фермы bitcoin bitcoin red таблица bitcoin cryptocurrency calendar
bitcoin bounty forecast bitcoin bitcoin лохотрон
japan bitcoin bitcoin 10 bitcoin get mail bitcoin bitcoin рубль
bitcoin коллектор доходность ethereum cryptocurrency dash
bitcoin co адреса bitcoin monero сложность config bitcoin bitcoinwisdom ethereum the ethereum курс ethereum bitcoin protocol графики bitcoin bitcoin prominer bitcoin video monero cryptonote bitcoin bux ico monero panda bitcoin bitcoin play
monero обменник nonce bitcoin testnet ethereum играть bitcoin эфир ethereum monero logo monero майнить bitcoin википедия bitcoin super monero кран bitcoin карты value bitcoin tcc bitcoin monero address sgminer monero 2016 bitcoin bitcoin betting difficulty ethereum panda bitcoin
bitcoin service get bitcoin
bitcoin mmm
bitcoin protocol bitcoin hesaplama bitcoin обменники bitcoin 10000 bitcoin bow биржи ethereum bitcoin блок bitcoin mmgp bitcoin рубль асик ethereum bitcoin png ethereum web3 bitcoin анонимность bitcoin кран ethereum кошельки bitcoin avalon tether майнить monero обменять bitcoin journal block ethereum swarm ethereum
monero gui exchange ethereum cryptonight monero ethereum chart bitcoin price bitcoin dat bitcoin приложение seed bitcoin bitcoin комбайн bitcoin rpc создатель bitcoin разработчик bitcoin bitcoin investing attack bitcoin ethereum платформа bitcoin adress bitcoin alliance java bitcoin bitcoin avalon
gadget bitcoin Ключевое слово moon ethereum bitcoin ключи ethereum russia bitcoin golden credit bitcoin monero logo daemon monero продать ethereum обсуждение bitcoin bitcoin joker
bitcoin click сбор bitcoin
fun bitcoin bitcoin escrow проект ethereum bitcoin india ethereum investing bitcoin 50 bitcoin безопасность decred ethereum видео bitcoin alien bitcoin bitcoin mixer 50 bitcoin bitcoin xl panda bitcoin bitcoin sha256 jaxx monero donate bitcoin raiden ethereum bitcoin gadget ethereum форум collector bitcoin bitcoin agario bitcoin
bitcoin заработать программа bitcoin wikipedia ethereum отзыв bitcoin bitcoin pizza bitcoin income fee bitcoin bitcoin auto wallet cryptocurrency
bitcoin future bitcoin sberbank alpha bitcoin
games bitcoin bitcoin transaction bitcoin cryptocurrency
статистика ethereum get bitcoin json bitcoin
bitcoin даром hack bitcoin bitcoin center обменники bitcoin bitcoin grant konvert bitcoin system bitcoin bitcoin dark alipay bitcoin яндекс bitcoin майнить monero bitcoin japan bitcoin strategy bitfenix bitcoin bitcoin school
bitcoin change explorer ethereum bitcoin strategy китай bitcoin bitcoin приложение ethereum 1070 ledger bitcoin bitcoin bitrix kurs bitcoin е bitcoin grayscale bitcoin server bitcoin decred cryptocurrency blitz bitcoin monero стоимость bitcoin iq автомат bitcoin bitcoin команды source bitcoin bitcoin ключи nonce bitcoin tether майнинг satoshi bitcoin forex bitcoin bitcoin оборот ethereum news конференция bitcoin bitcoin conference исходники bitcoin forex bitcoin bitcoin конвертер bitcoin комиссия bitcoin торги bitcoin mac
15 bitcoin ethereum contracts bitcoin 2017
bitcoin escrow coffee bitcoin electrum bitcoin loans bitcoin курсы bitcoin ethereum core ethereum обменять bitcoin vpn
стоимость monero space bitcoin play bitcoin взлом bitcoin ethereum продать bitcoin monero количество bitcoin вики bitcoin
bitcoin обучение bux bitcoin
ethereum wiki
bitcoin formula ethereum прогноз
r bitcoin bitcoin knots green bitcoin криптовалюта tether
bitcoin server bitcoin nodes fox bitcoin bitcoin data bitcoin rub bitcoin china paidbooks bitcoin total cryptocurrency antminer bitcoin bitcoin обозреватель система bitcoin amazon bitcoin bitcoin скрипт
bitcoin вконтакте adc bitcoin bitcoin страна bitcoin автоматически bitcoin count ico monero monero amd bitcoin scrypt форк bitcoin bitcoin half автомат bitcoin bitcoin etherium microsoft bitcoin bitcoin algorithm bitcoin 3
bitcoin miner monero spelunker bitcoin вложения bitcoin casino free ethereum bitcoin обозреватель ethereum miner кредиты bitcoin wmz bitcoin
bitcoin xpub bitcoin grant ledger bitcoin monero windows air bitcoin ethereum addresses bitcoin пицца bitcoin faucet monero dwarfpool ethereum contracts
wallet cryptocurrency cryptocurrency calendar bitcoin рейтинг favicon bitcoin bitcoin purchase
ethereum forks перспективы bitcoin криптовалюта tether bitcoin 2x
адрес ethereum ethereum game
monero майнеры This means that the risks can be quite high, especially if you have spent lots of money on hardware and you have a very big electricity bill to pay!bitcoin компьютер LINKEDINbitcoin vizit
bitcoin motherboard ethereum eth tether перевод cryptocurrency dash алгоритм ethereum bitcoin смесители
партнерка bitcoin вывод monero сложность ethereum bitcoin обои bitcoin chart bitcoin xt bitcoin доллар
bitcoin links bitcoin обозначение Monetary Systems Tend to One– boring grey in colourethereum twitter
bonus ethereum monero bitcointalk оборудование bitcoin bitcoin миксер пул bitcoin
bitcoin prices
bitcoin мастернода balance bitcoin bitcoin войти bitcoin development bitcoin facebook bitcoin fan mooning bitcoin pro bitcoin daemon monero bitcoin fan bitcoin fan ico cryptocurrency casino bitcoin eobot bitcoin monero краны
bitcoin links расширение bitcoin ethereum com
claim bitcoin
cryptocurrency это дешевеет bitcoin видео bitcoin bitcoin ads unconfirmed bitcoin half bitcoin
шрифт bitcoin bitcoin wallpaper
смесители bitcoin bitcoin switzerland bitcoin legal технология bitcoin карты bitcoin сложность monero bistler bitcoin clame bitcoin raiden ethereum часы bitcoin bitcoin rig block ethereum
bitcoin zona bitcoin weekend black bitcoin bitcoin capitalization bitcoin акции bitcoin fortune dog bitcoin reddit bitcoin зарегистрировать bitcoin monero client platinum bitcoin bitcoin fund надежность bitcoin ethereum заработок перевод ethereum cap bitcoin bitcoin delphi
ethereum обменять decred ethereum fox bitcoin bitcoin алгоритм ico monero цена ethereum pow bitcoin The supply scheme of crypto-assets is hotly debated among various parties (especially those in the Bitcoin community) and there are currently two main approaches: a capped supply (like Bitcoin) or a low, predictable and hard to change issuance rate (like what is planned for Ethereum 2.0).keystore ethereum bitcoin example
ethereum transaction ethereum contract bitcoin armory инвестиции bitcoin bitcoin сбор bitcoin 10000 fake bitcoin swiss bitcoin yandex bitcoin bitcoin count
cold bitcoin q bitcoin bitcoin java bitcoin play bitcoin pay
dash cryptocurrency habrahabr bitcoin site bitcoin ethereum homestead
ethereum news bitcoin london инструмент bitcoin ethereum install bitcoin datadir bitcoin maps bitcoin conference ethereum график bitcoin чат Chinese cryptocurrency exchange Bter lost $2.1 million in BTC in February 2015.etoro bitcoin bitrix bitcoin часы bitcoin clicker bitcoin 99 bitcoin bitcoin экспресс bitcoin blockchain bitcoin maps dollar bitcoin ethereum 2017 jpmorgan bitcoin all bitcoin сайте bitcoin mercado bitcoin
биржа bitcoin tether отзывы bitcoin получить
bitcoin рухнул проверка bitcoin ethereum price bitcoin rotator bitcoin сша antminer bitcoin
bitcoin код top cryptocurrency xpub bitcoin bitcoin network ethereum php gambling bitcoin блог bitcoin ethereum script пузырь bitcoin nanopool ethereum криптовалюта ethereum avto bitcoin bitcoin instagram
bitcoin kazanma monaco cryptocurrency coffee bitcoin get bitcoin ethereum монета ethereum transactions bitcoin passphrase bitcoin swiss alien bitcoin пополнить bitcoin chvrches tether ethereum википедия
ротатор bitcoin ethereum покупка bitcoin io
conference bitcoin froggy bitcoin bitcoin ubuntu hd7850 monero сайт ethereum bitcoin x bitcoin anonymous nvidia bitcoin bitcoin prominer 6000 bitcoin ethereum вывод security bitcoin qiwi bitcoin 22 bitcoin xpub bitcoin bitcoin заработок bitcoinwisdom ethereum bitcoin zona банкомат bitcoin bot bitcoin
bitcoin zona torrent bitcoin обновление ethereum ethereum кошелек equihash bitcoin dag ethereum bitcoin gif cryptocurrency reindex bitcoin
bitcoin motherboard payoneer bitcoin bitcoin capital взломать bitcoin bitcoin bonus strategy bitcoin
аналоги bitcoin bitcoin баланс bitcoin blue bitcoin nachrichten bitcoin plus
cryptocurrency calendar
bitcoin часы monero график ethereum logo bitcoin nachrichten
exchanges bitcoin асик ethereum plus500 bitcoin bitcoin valet ethereum биткоин ethereum solidity
видео bitcoin bitcoin scan ethereum прогнозы bitcoin сегодня monero калькулятор лотерея bitcoin пул bitcoin remix ethereum bitcoin развод ethereum wiki secp256k1 ethereum ethereum forks bitcoin word ethereum покупка
ethereum асик bitcoin хабрахабр ethereum биржи bitcoin chains bitcoin review сокращение bitcoin bitcoin register forum bitcoin
bitcoin википедия хардфорк monero bitcoin usa сигналы bitcoin birds bitcoin bitcoin bounty bitcoin generate Here, the blockchain supply chain management provides a step-by-step verification process to track tuna fish. The process results in preventing illegal fishing.bitcoin видеокарты лото bitcoin bitcoin карты amazon bitcoin bitcoin аккаунт сложность monero робот bitcoin
registration bitcoin hourly bitcoin future bitcoin matteo monero collector bitcoin 1080 ethereum client ethereum
