Are hard forks good or bad?
Bitcoin has been on this amazing rise lately. I started to buy some more, because I would like to have two sets of bitcoin after the upcoming hard fork of the currency. I’m not sure which will do better, bitcoin or bitcoin2x, but I know I would like both. So, to me, this is a good hard fork.
But, I’ve also heard concerns that the currency will devalue as a result of this hard fork. Many people dislike hard forks. Personally, I feel it is the only possible amicable solution to two deeply held views, and while I think the price of each currency will go down, the total value of both sets will still be higher than the value of one set, so I don’t think I would be losing money as a result of the hard fork.
But, I’m still new to bitcoin. What do you think? Are hard forks good or bad in general, or does it depend on the particular situation surrounding the hard fork?
These hard forks are very confusing. It appears the bitcoin cash fork didn't affect the BTC price but I feel the more forks done and the more versions created will eventually hurt the overall value of all of the coins. I feel the more forks and coins made the more it seems like a fiat currency. Bitcoin was designed to not be like fiat that could be created at will and all these forks are doing is creating more coins out of thin air just like fiat dollars IMO.
Thanks pnutbrand! I was wondering how new versions of bitcoins are different from new coins starting? New coins will always start, and they are also coins created out of thin air...