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RE: WHY BITCOIN GOLD FORK WILL NOT CAUSE HAVOC!!!

in #bitcoin7 years ago (edited)

For Users, the transaction volume will follow their level of actions or usage. It hasn't gone down. If so they all would have already switched to DASH or LTC with instant transaction. But they didn't. Why? It weren't the users who asked for BCH....and they got free money and now what? BCH is less than 12% of BTC. Not taking over the network effect.

If Miners had the biggest say, Bitcoin wouldn't be Bitcoin. I believe the merchants and users have the greater degree of say.

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It's not miners or users; it's the first mover advantage, nostalgia and sentiment. People stick with what is familiar. BTC is the posterchild for entire blockchain. Too many zealots who are preaching the greatness of BTC etc. But when it comes to the developing nations (especially Africa and Eastern Europe) alt-coins have a great chance. https://www.dashforcenews.com/dash-teams-operate-5-different-african-countries-dedicated-continent-wide-adoption/

I also think Japan will be a good ground for alt-coins and we'll see BTC market share shrink in Japan in the future.

Bitcoin does have massive infrastructure in place, but a few of the major alts are also benefiting greatly from this infrastructure. For example, the amount of altcoin-supporting Bitcoin ATMs is growing with each passing month:

https://steemit.com/bitcoin/@techwizardry/plenty-of-new-bitcoin-and-altcoin-atms-dash-ether-litecoin-come-online-in-september

Yes, firs mover advantage gave Bitcoin its current massive network effect unbeatable by any other coin.

There will always be other coins. Yes. For sure.

As discussed its first mover advantage. Most people outside of the world of crypto have heard of nothing but Bitcoin. They are unaware of the 900+ alt coins out there. Granted most are just clones of bitcoin anyway, but the point is, if we really want crypto to reach mass adoption we need to stop forking (or creating alt coins) every time we see a slight advantage. If I created a rival to Visa with fractionally lower fees, or slightly faster transactions, no one would care. Its all about the network effect and the name.

If you want crypto to succeed, back bitcoin. Improvements can come later.

Damn right ma'am! Upvoted your comment!

Miners and Nodes literally do make the rules. If either stops doing what they are doing, there is no network anymore, it all ceases to exist.