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RE: Bitcoin will fork soon, with significant consequences

in #bitcoin8 years ago (edited)

Let me try to summarize:

  • Miners follow follow the price
  • Users follow the media
  • In the ETH vs ETC case, media heavily favors ETH for several reasons (including faster and cheaper transaction), which is why that fork dominates
  • In the BTC case, the media is split and in particular theymos is a kind of tiebreaker
  • A BTC fork is incoming because a significant fraction of bitcoiners follow media which believes a crypto's long term value is maximized when it can have many cheap transactions.

My response is this, you seem to realize the significance of names when it comes to forking. If "Bitcoin" forks to prioritize "usable" (consumer frequency) TPS, it will also become a thing which doesn't even need miners anymore. And miners follow price, as you said. So who cares if they all leave? I'll tell you who, exactly the people that need their chain secured by POW with no risk of unexpected changes.