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  1. #261
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    Thanks Sherlock, your explanation is easy to understand for me. Could you please also explain why forking is necessary.
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  2. #262
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    Forking is necessary, because greed and/or different opinions are just natural for people. Forking is a new way of corporate governance of blockchains. If you have some power (hashing, social influence, money etc.) and you think the blockchain code has a system of rules that you think are bad, you simply create a fork, with the better set of rules and market will either show you were wrong or right.

    It is hard to say when it is about pure ideas and when it is just a scam. All scammers will say it is about ideas. But on the other hand, ideas without moneybackground is dull.

    The forking so far just makes the main chain relatively stronger in time (ETH vs ETC; BTC vs BCH and other bitcoin forks). Absolutely it is for now making whole cryptoscene weaker, but that is only because people think forking is a problem. As time goes, the future fork values will be very low, maybe the future forks will not even have value (unless they will be really needed and innovative), if those forks die out, then there will be no demand for future forks. We are using wrong analogies from the old world to evaluate forks. I suggest just sit and watch and learn (and buy when there is panic).

    Rough seas ahead indeed. Maybe the ship will wreck after all with most of my money. But not because of forks. Without forks, there is not blockchain, which is still the general crypto. Upgrades of blockchains are done through forks. It is not possible to prevent blockchains against forks. It is not possible to distinguish between the good and bad forks upfront. Any fork can cause chain split and even chain split may not be something unwanted. Market decides. It is like running winXP without updates on public wifi. The end will come sooner or later then.
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  4. #263
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    Thank you. I believe that Bitcoin is the future because its amount is limited like the amount of resources on our planet is limited. I am wondering where endless printing (only about 10% of money in the world exists in cash, right?) and making money and debts will bring us to.
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  5. #264
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    10% as ratio m0 to m3 is/was about right in EU prior to 2008 crisis: https://en.wikipedia.org/wiki/Money_...-_Oct_2007.jpg
    In Australia is is https://en.wikipedia.org/wiki/Money_...ney_Supply.PNG far less than 5% now I guess about the same everywhere.

    But that is missing the point as well. The cash is not something that has value either.
    On the other hand for centuries there was massive printing of private money based on metal standards.

    As there will be debt, there will be money not 100% covered. It is the core of capitalism. We lived like that, we live like that and we will live with that even in era of post fiat=crypto. It is normal. You can create non-covered IOU based on BTC, which is the same as notes in golden standard.

    The difference is who will decide how the money is issued/printed. Now states decide about monetary policy. They took it a little bit too far. We will all pay for that with future standards of living, wars etc. The other way around is that market decides about money supply. Frankly, market did not do well as well in 19th century. Overall there is no good solution. Both end in catastrophes. But the second brings more independence and short term volatility.
    The most sad thing is when cat dies.

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  7. #265
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    No doubts, BTC only
    BCH is too centralized, by Roger and other guys
    BTC exists more than 10 years, and had no serious problems

  8. #266
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    Visit my site www.on-line-bank.com to see an example for a free BTC price widget for websites. Follow the link to get one for your homepage, too.
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