Bitcoin Forks Kill Bitcoin
December 30, 2017
Over the past couple of months there was a real 'gold rush' after the stunning success of a Bitcoin-fork called Bitcoin Cash. New branches of Bitcoin appears on a weekly basis with every new one claims to be more inventive than all the previous ones.
Many people begin to realize that most of these clones do not have a sustainable infrastructure or a working network. Especially if you remember how many forks have happened recently: Diamond, Platinum, United, Lightning, Ruby, God and many others. Most of them are already forgotten by the community and this is not without a reason.
With so many Bitcoin clones created from nothing many cryptocurrency enthusiasts are less likely to trust these projects and some of them do not hesitate to even call these projects a fraud .
Moreover, according to surveys, these clones negatively affect their ancestor, Bitcoin. Many believe that Bitcoin fever has developed into a real circus, and each fork only blackens the original Bitcoin. Developers of each fork considers it their duty to point out shortcomings of Bitcoin. And it happens every single time. Of course, there are people who completely agree with their statements (it's hard to disagree, because these statements are actually true). But after all these loud speeches ... nothing happens. So, turns out that people create new forks and leave their 'father'. However all these 'descendants' have nothing to offer. This is one of the reasons why Bitcoin's share in the market capitalization fell to 'ridiculous' 38%.