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RE: Is Bitcoin Moving Towards Yet Another Hard Fork ?
The core fork will come in Nov when Segwit 2x forks from the main chain. It was expected that the other chain would die shortly after but if not, we will have yet another coin. This may work out (like bitcoin cash did) or could drag btc down. Difficult days ahead!
I have a feeling bitcoin cash already had a market value behind it when it split and it was supported by the Chinese government. (theory) But as soon as it split it had a market cap of 5 billion out of no where it literally made no sense lol also one major unkown miner that holds about 60% of the mining power for bitcoin cash also could be Chinese government.
Splitting it again only draws money away from bitcoin and makes it not so much of a key player eventually bitcoin is just going to be an ALT itself if they don't start to make changes.
It's not that it will draw money away. I feel market cap is irrelevant in this context. It's the fact that bitcoin and crypto generally needs to become more simplistic and easier to use if it's ever going to be adopted by the masses. Splitting or forking every few months does not help, it puts people off. How can a merchant accept bitcoin if next week it's bitcoin cash he needs to accept and next month it's a different version again. Bitcoin needs to get its shot together and agree on a way forward, a single way forward or the whole project will suffer!
Exactly my point, if we keep spiting over and over again like this there wont be a standard and its will just be a big cluster F of worthless junk thats not accepted anywhere. Having a high market cap is what has brought in talks of stock markets, more merchants and the public knowing about it.