We've been going through a lot of Forks lately, and mostly it seems they were created by a few greedy people in order to get some free cash, by inventing 16.5 Million coins and selling them immediately. Which means, no one really believes in these Forks. And they were not created to solve the problems Bitcoin is suffering from, regarding mass adoption and scaling. So what's the point?
Now... could a new Token created on the Ethereum Network... beat all those coins... and beat Bitcoin, too...? And maybe... stop the madness of useless BTC Forks being created every month...?
Read this article to find more:
- State of Bitcoins, by Anders Larsson, M.Sc. (co-founder allcoinWiki)
"The Battle of the 5 Bitcoins
This is how it could sound like:
Bitcoin Core: Hey Bitcoin should scale not just from 5 to 50 transactions per second, but to 50,000 or 50 million, to be a viable payment alternative. Bitcoin in it's original architecture, doesn't scale easily to those numbers so let's add a layer on top, transacted outside bitcoin, and then recorded back on-chain. Problem solved!
Bitcoin Cash: Not so fast Mr Core! If we add a settlement layer on top, we are back to companies with CEO's and all the things we wanted to get rid of with a decentralized payment system in the first place. We simply can't do that, says BCH. Instead let's scale the blocks to fit more transactions within the true decentralized nature of the original bitcoin.
Bitcoin Gold: You are all wrong says BTG. You have lost the decentralization already. It is all controlled by the centralized mining companies, to large extent in huge mining farms in China. The current algorithm makes it impossible to compete with them. We need to put the mining power back in the hands of everyday people, because the miners determine bitcoin.
2x, largely the current mining companies: Guys, when we agreed to Segwit in Bitcoin Core, you promised us that we would increase the block size to 2 MB. What is this nonsense about pulling out? I stand by my word and honor my agreements.
eBTC: Finally comes the new kid and says: Grandpas, there is a much simpler way to do all of what you are talking about. I wrote it with my thumbs. You are all old men stuck in old times."
Well, this new kid in the block seems promising. Let's see if the team can deliver it.
(Disclaimer: I bought 1500 eBTC for ~0.10€ per coin. At these prices, I think it's worth the gamble.)