Ledger Nano S

Ledger Nano S - The secure hardware wallet

Wednesday, October 11, 2017

Crypto News: Don’t Fear Forks, There’s Only One Bitcoin

Don’t Fear Forks, There’s Only One Bitcoin

There’s been some panic lately over the various “forks” of the Bitcoin network, particularly among the less tech-savvy who hear inaccurate or incomplete news on the mainstream media. It’s important to clear up some confusion, because there are more so-called “forks” coming.

First, the most important thing to know is this: there will only ever be 21 mln Bitcoin in existence. Period. End of story.

There have been and will continue to be currencies that fork from the Bitcoin network, taking with them a full snapshot of the network up until that point. Yet there’s still only one Bitcoin. Bitcoin Cash, Bitcoin Gold, Bitcoin-anything-else, none of them have interoperability with the real Bitcoin network.

Bitcoin skeptics have been telling people that with the Bitcoin Cash fork, there will now be 42 mln Bitcoin in existence. It won’t be long before they start claiming that with the upcoming Bitcoin Gold fork, there will ultimately be 63 mln coins in existence. This is complete falsehood.

Bitcoin Cash and Bitcoin Gold cannot be spent on the Bitcoin network. As far as Bitcoin’s network is concerned, they are merely altcoins like Litecoin, Dash, and so on. They are not Bitcoin and cannot make the argument that they are. There is only one Bitcoin, and there will only ever be 21 mln coins on that network.


Full story at http://bit.ly/2i1X08W


Source: CoinTelegraph


Tweet This Story

 

 

 

Donation:
If you appreciate the things I share, consider making a contribution
no matter how small via PayPal or with TransferWise (EUR).
If you use Waves my wallet address is: 3PPeCnXEDAiRVzvsuGRycrNDHhWgDq68uVt
If you use Bitcoin my wallet address is: 12pAsyMdZoTHPvkiRAZiuQhC8bF4DLbYpQ

Bitcoin QR-Code

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Copy and paste this code into your pages.