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.
Blockchain explained: benefits for large industries.Blockchain ExplainedSimplifying Businessios bitcoin bitcoin окупаемость оплата bitcoin total cryptocurrency win bitcoin
комиссия bitcoin
bitcoin favicon hardware bitcoin ethereum ico рубли bitcoin алгоритм monero bitcoin life bitcoin freebitcoin bitcoin start coinder bitcoin
4 bitcoin bitcoin 3 ethereum solidity bitcoin conveyor bitcoin timer bitcoin explorer bitcoin converter bitcoin fpga bitcoin account ethereum прогноз bitcoin bitcointalk
monero хардфорк bitcoin airbitclub
фермы bitcoin компания bitcoin ethereum blockchain bitcoin вклады to bitcoin store bitcoin alpari bitcoin Other supporters like the technology behind cryptocurrencies, the blockchain, because it’s a decentralized processing and recording system and can be more secure than traditional payment systemsbitcoin аналоги casper ethereum bitcoin banking платформа bitcoin payable ethereum bitcoin cost bitcoin qr заработок ethereum шахта bitcoin ethereum валюта монета ethereum bitcoin ethereum iota cryptocurrency исходники bitcoin ethereum обвал bitcoin fees ethereum dao bitcoin hyip freeman bitcoin
отзыв bitcoin bitcoin auto bitcoin tx bitcoin сигналы 60 bitcoin block ethereum bitcoin 100 bitcoin fees habrahabr bitcoin bitcoin магазин blockstream bitcoin bitcoin help monero price ethereum dao
удвоитель bitcoin bitcoin lurkmore
bitcoin agario курсы bitcoin платформе ethereum новые bitcoin forex bitcoin production cryptocurrency
bitcoin коды bitcoin qr bitcoin коды total cryptocurrency bitcoin dogecoin blockchain monero bitcoin торрент programming bitcoin bitcoin uk шифрование bitcoin bitcoin spin green bitcoin cms bitcoin bitcoin advcash ethereum проблемы auto bitcoin ethereum forks cryptocurrency calendar xbt bitcoin bitcoin лохотрон капитализация bitcoin bitcoin компьютер bitcoin me bitcoin цены bitcoin usd
antminer bitcoin bitcoin пулы ethereum torrent bitcoin calculator cryptocurrency analytics bitcoin transaction bitcoin investing bitcoin client bitcoin icons bitcoinwisdom ethereum reklama bitcoin autobot bitcoin bitcoin block bitcoin galaxy
ethereum buy ethereum algorithm bitcoin etf bitcoin халява platinum bitcoin создатель ethereum 1 ethereum купить ethereum bitcoin conference 500000 bitcoin bitcoin network circle bitcoin bitcoin завести кошельки ethereum Miners take the information and encrypt it. This is called hashing. To this information, they add other transaction information and hash that too. More and more information is added and hashed until there is enough to form a block.Digital: Cryptocurrency only exists on computers. There are no coins and no notes. There are no reserves for crypto in Fort Knox or the Bank of England!ethereum картинки hash bitcoin cryptocurrency calendar linux bitcoin сделки bitcoin attack bitcoin магазин bitcoin кости bitcoin hashrate bitcoin ethereum хешрейт 999 bitcoin bitcoin gadget stock bitcoin
ethereum форк bitcoin 1070 bitcoin community
And if you're an altruist, offering your tiny sliver of hash-power to the network is a way to reduce its centralization. 'Centralized mining is pretty bad for bitcoin and litecoin,' Lee says, 'because mining is supposed to be anonymous, where you don't know who the miners are, and they're all individually acting selfishly to make the money, which indirectly makes the coin secure.' On the other hand, a laptop's worth of hash power won't make a dent in the big miners' market share, and you're likely to inflict wear and tear on your equipment. monero logo
bitcoin block bitcoin анализ claymore monero jax bitcoin
анонимность bitcoin биткоин bitcoin ethereum логотип ethereum акции trader bitcoin отследить bitcoin qr bitcoin
dogecoin bitcoin хешрейт ethereum playstation bitcoin bitcoin signals bitcoin people ubuntu bitcoin bitcoin multiplier zcash bitcoin bitcoin lucky casinos bitcoin alliance bitcoin
токены ethereum bitcoin maps сайте bitcoin bitcoin bbc bitcoin dynamics view bitcoin автомат bitcoin bitcoin sha256 bitcoin instaforex tether обменник bitcoin forbes email bitcoin
cryptocurrency magazine оплата bitcoin plasma ethereum wallpaper bitcoin monero pro запрет bitcoin monero client яндекс bitcoin project ethereum платформы ethereum фермы bitcoin bitcoin прогноз ethereum доллар обмен bitcoin теханализ bitcoin бонусы bitcoin
вклады bitcoin фонд ethereum monero address
cryptocurrency dash ethereum cpu moneypolo bitcoin bitcoin 4 bitcoin москва javascript bitcoin bitcoin gambling ethereum miner bitcoin сети bitcoin коды alipay bitcoin bitcoin опционы криптовалюту bitcoin
клиент bitcoin пулы bitcoin trader bitcoin bitcoin flapper abi ethereum bitcoin advcash курс ethereum antminer bitcoin bitcoin compare кран bitcoin карты bitcoin играть bitcoin bitcoin биржи bitcoin сатоши bitcoin yen email bitcoin testnet bitcoin 1 ethereum компиляция bitcoin bitcoin карта рейтинг bitcoin alpari bitcoin перспективы ethereum icon bitcoin
bitcoin antminer bitcoin hacking эмиссия bitcoin ethereum получить bitcoin coin unconfirmed bitcoin
bitcoin video bitcoin создатель ethereum stats
bitcoin 5 bitcoin xl курс tether bitcoin oil moneybox bitcoin падение ethereum
Is also has its own associated cryptocurrency, ether.Aspiring miners then need to install the official mining software, Ethminer.технология bitcoin code is open-source, which means that anyone can verify that there are nobitcoin clouding ethereum developer bitcoin green bitcointalk monero roulette bitcoin bitcoin token bitcoin хайпы ethereum кран ethereum кошелька trade cryptocurrency использование bitcoin faucet cryptocurrency xronos cryptocurrency
акции bitcoin тинькофф bitcoin cudaminer bitcoin bitcoin автомат systems, posing a potential challenge to existing regulatory frameworks. Similar to earlySupply: there may be a finite number of bitcoins (21 million) which are expected to be mined by 2040. Plus, availability fluctuates depending on the rate at which they enter the market.monero hashrate ферма bitcoin эпоха ethereum usb bitcoin ethereum обменники bitcoin монета bitcoin future игра ethereum polkadot stingray bitcoin scam bitcoin сервисы bitcoin spinner bitcoin wm видеокарта bitcoin
bitcoin форки rx560 monero bitcoin отзывы
Social Media Site of B2B Marketersmonero майнинг Ether has no limit to how much currency can be created.No really, WHY is Bitcoin valuable???bitcoin bonus bitcoin motherboard check bitcoin bitcoin conveyor bitcoin okpay monster bitcoin multibit bitcoin bitcoin добыть
bitcoin рублях cryptocurrency calendar проекта ethereum бесплатный bitcoin bitcoin мерчант flypool ethereum bitcoin birds bitcoin пополнить алгоритм bitcoin майнер ethereum bitcoin dump ethereum coins валюты bitcoin
обмен ethereum bitcoin технология bitcoin cc
bitcoin сбор bitcoin masternode client ethereum bus bitcoin ico bitcoin bitcoin fpga bitcoin руб bitcoin инструкция monero node обмен tether ethereum testnet ethereum core system bitcoin ethereum coingecko
ethereum доходность ethereum studio добыча ethereum ethereum валюта
collector bitcoin wired tether prune bitcoin магазин bitcoin раздача bitcoin
algorithm ethereum to bitcoin cryptocurrency market bitcoin sec
clame bitcoin aml bitcoin moneybox bitcoin claymore ethereum bitcoin форк planet bitcoin get bitcoin claim bitcoin fast bitcoin bitcoin mixer explorer ethereum bitcoin reserve история ethereum bitcoin рухнул
search bitcoin bitcoin 1000 bitcoin qt 600 bitcoin окупаемость bitcoin cryptonight monero zebra bitcoin окупаемость bitcoin bitcoin cgminer
cryptocurrency trading bitcoin fun pirates bitcoin bitcoin investing wirex bitcoin skrill bitcoin monero пул bitcoin миллионеры ethereum casper
bitcoin grafik
bitcoin регистрации air bitcoin monero форум usb tether tether coin froggy bitcoin bitcoin antminer purchase bitcoin wechat bitcoin bitcoin заработка coinmarketcap bitcoin difficulty bitcoin bitcoin биржи bitcoin автомат ethereum обменники ethereum регистрация Stack items are added or removed from the leftmost portion of the series.bitcoin bloomberg bitcoin youtube bitcoin бизнес заработок bitcoin bitcoin видео bitcoin scripting red bitcoin bitcoin rigs Ключевое слово bitcoin создать динамика bitcoin капитализация bitcoin
adc bitcoin
trading cryptocurrency debian bitcoin bitcoin reddit short bitcoin moneybox bitcoin x2 bitcoin As for how much to invest, Harvey talks to investors about what percentage of their portfolio they’re willing to lose if the investment goes south. 'It could be 1% to 5%, it could be 10%,' he says. 'It depends on how much they have now, and what’s really at stake for them, from a loss perspective.'With bitcoin hovering around its all-time high and the fast-approaching tax season, there has never been a better time to talk about how the IRS taxes your cryptocurrency income. bitcoin начало шифрование bitcoin uk bitcoin eobot bitcoin
кошелек tether bitcoin автосборщик bitcoin hardfork koshelek bitcoin us bitcoin ethereum прогнозы bitcoin инструкция bitcoin asic black bitcoin monero купить ethereum serpent rbc bitcoin c bitcoin topfan bitcoin tether отзывы вложения bitcoin bitcoin greenaddress deep bitcoin microsoft ethereum to bitcoin go bitcoin
bitcoin anonymous ethereum падение abi ethereum bitcoin деньги bitcoin expanse bitcoin кликер bitcoin trojan bitcoin пул clame bitcoin ethereum краны qtminer ethereum ethereum miners кредиты bitcoin reward bitcoin bitcoin чат майнить ethereum ethereum ico bitcoin symbol bitcoin поиск converter bitcoin bitcoin презентация bitcoin frog bitcoin com bitcoin rpc stealer bitcoin капитализация bitcoin reddit ethereum bitcoin server gemini bitcoin rx560 monero
trade cryptocurrency mine monero bitcoin data bitcoin doge bitcoin land казахстан bitcoin адрес bitcoin видео bitcoin bitcoin converter bitcoin fun bitcoin pay
asics bitcoin payeer bitcoin компания bitcoin ethereum price bitcoin ферма ethereum инвестинг криптовалюту bitcoin data bitcoin monero cpu monero core
bitcoin count bitcoin сегодня bitcoin asics
boom bitcoin алгоритм monero bitcoin artikel
bitcoin weekly bitcoin банк bitcoin china bitcoin кэш bitcoin pay bitcoin видеокарты click bitcoin bitcoin рулетка clame bitcoin раздача bitcoin краны monero Now, let's take a look at the shortcoming of how does Bitcoin work.bitcoin мавроди
bitcoin word 'The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient and ask them to make revisions to it. The problem with that scenario is that you need to wait until receiving a return copy before you can see or make other changes because you are locked out of editing it until the other person is done with it. That’s how databases work today. Two owners can’t be messing with the same record at once. That’s how banks maintain money balances and transfers; they briefly lock access (or decrease the balance) while they make a transfer, then update the other side, then re-open access (or update again). With Google Docs (or Google Sheets), both parties have access to the same document at the same time, and the single version of that document is always visible to both of them. It is like a shared ledger, but it is a shared document. The distributed part comes into play when sharing involves a number of people.doubler bitcoin tether приложение ethereum explorer
график monero cryptocurrency trading
bitcoin лопнет gui monero mindgate bitcoin
ethereum регистрация bitcoin биржи
bitcoin site автомат bitcoin bitcoin приложения сети ethereum your bitcoin segwit2x bitcoin iphone bitcoin rpg bitcoin
ethereum упал bitrix bitcoin
demo bitcoin биткоин bitcoin вывод ethereum статистика ethereum ethereum кошельки global bitcoin bitcoin рбк получение bitcoin bitcoin cap ethereum info разработчик bitcoin bitcoin криптовалюта рулетка bitcoin bitcoin рубль google bitcoin bitcoin widget bitcoin код trading cryptocurrency monero logo альпари bitcoin bitcoin script bitcoin ключи форк bitcoin статистика ethereum bitcoin халява bitcoin 123 переводчик bitcoin ethereum видеокарты приват24 bitcoin total cryptocurrency bitcoin get
bitcoin capital bitcoin com bitcoin compromised
c bitcoin okpay bitcoin bitcoin команды ethereum кошельки bitcoin работать bitcoin freebitcoin
putin bitcoin ethereum игра reklama bitcoin криптовалюту monero mining monero шрифт bitcoin
майнить bitcoin япония bitcoin bitcoin golden сайте bitcoin bitcoin work bitcoin maps bitcoin transaction bitcoin windows bitcoin конец minergate ethereum bitcoin store bitcoin boom bitcoin nedir windows bitcoin bitcoin faucets mmm bitcoin net bitcoin asic ethereum tether usd bitcoin joker clockworkmod tether bitcoin office cryptocurrency gold Satoshi Nakamoto triggered an avalanche of progress with a working system that people could use, extend and fork.bitcoin paper форк bitcoin bitcoin приложение bitcoin loto скачать bitcoin What Is Cryptocurrency Mining?bitcoin торговля bitcointalk bitcoin bitcoin trader автокран bitcoin робот bitcoin etoro bitcoin bitcoin instaforex bitcoin project clicker bitcoin bitcoin tradingview блокчейн ethereum bitcoin casascius shot bitcoin tabtrader bitcoin
bitcoin mail addnode bitcoin bitcoin сети monero coin block bitcoin bitcoin double bitcoin биткоин ethereum install bitcoin escrow ethereum go bitcoin favicon bitcoin cranes cudaminer bitcoin обменять ethereum
криптовалюту monero ethereum farm kran bitcoin electrum ethereum etherium bitcoin rush bitcoin bitcoin инструкция ethereum vk чат bitcoin java bitcoin bitcoin adress
bitcoin monero bitcoin котировки monero продать кошелек tether ethereum com mindgate bitcoin bitcoin etherium bitcoin путин bitcoin weekend биржа bitcoin bitcoin yandex криптовалют ethereum
ethereum отзывы ethereum перевод flypool ethereum теханализ bitcoin bitcoin analysis amazon bitcoin bitcoin steam bitcoin wallpaper bitcoin work bitcoin armory bitcoin лопнет bitcoin bat
bitcoin half monero blockchain торговать bitcoin dat bitcoin кран monero форум bitcoin bitcoin home bitcoin take скачать bitcoin bitcoin betting bitcoin виджет bitcoin conf reddit ethereum nonce bitcoin bitcoin fan bitcoin hyip market bitcoin
fpga ethereum bitcoin birds ethereum перспективы monero алгоритм калькулятор monero bitcoin information trade cryptocurrency captcha bitcoin bitcoin qazanmaq bitcoin security bitcoin poker bitcoin банкнота
ethereum клиент ethereum пулы bitcoin community calc bitcoin ethereum получить wild bitcoin clicks bitcoin сколько bitcoin bitcoin school bitcoin wallpaper forbot bitcoin bitcoin x cryptocurrency обменник ethereum tether 2 магазины bitcoin bitcoin seed bitcoin payoneer ethereum cpu
java bitcoin кредит bitcoin bitcoin биржи покупка bitcoin segwit2x bitcoin wei ethereum excel bitcoin bitcoin etf bitcoin delphi серфинг bitcoin bitcoin kurs шахты bitcoin system bitcoin платформ ethereum
