Bitcoin Forks for Quick ProfitThe recent jump in price that Bitcoin Cash experienced has lent confidence to everyone currently considering initiating a similar fork. This article by Timothy B Lee goes on to predict many more forks are coming soon. And he gives good reason, including the success of previous forks all sitting in the top six positions, the mining bonus Bitcoin Gold creators achieved, and the built-in customer base of bitcoin holders.
https://arstechnica.com/tech-policy/2017/11/get-ready-for-a-wave-of-bitcoin-forks/Before the first fork, my mind biased by old-world economics was confident that the price of Bitcoin plus the new fork, must quickly come to equal the previous price of Bitcoin before the fork. Otherwise you'd be pulling value out of thin air. I was wrong. I and many others were surprised to see how little impact the fork had on the price of Bitcoin. And now my opinion is shifting in the other direction. The earlier that investors obtain some Bitcoin, the more forks they will automatically gain ownership of as well. This is likely to increase interest in Bitcoin rather than harm it.
Timothy Goggin's recent article brought clarity and objectivity to the history of these forks, and for the first time, I finally understand what the Lightning Network actually does. And it looks at the legitimate reasons for forking bitcoin. I expect to see the future contain a mix of legitimate forks who believe they offer a better solution, and profit oriented forks because that trail has recently be proven successful.
https://dcebrief.com/op-ed-the-centralization-problem-bitcoin-and-bitcoin-cash/But it seems to me that they all rely on some angle of improvement over the existing bitcoin. Because DNotes is working hard to address issues and upgrade their cryptocurrency to be the best possible design for its purposes, I see it at much less risk of being forked, even when it has a much broader following.
Tim, thank you for another great post. Let me just comment on your last paragraph: "But it seems to me that they all rely on some angle of improvement over the existing bitcoin. Because DNotes is working hard to address issues and upgrade their cryptocurrency to be the best possible design for its purposes, I see it at much less risk of being forked, even when it has a much broader following."
I believe that you are correct though I am not sure that we are on the same page in arriving at that conclusion. DNotes is positioned very differently. Technically, DNotes is just another digital currency, now practically at the bottom of CoinMarket cap. In reality, DNotes is (or going to be) a fully integrated financial system with participation in the funding and management of a portfolio of companies.
Should we go forward with our funding campaign, we will, most likely, be using Reg A+ Mini IPO Title IV Tier 2, a portion of the money raised will be used in NextGenVC projects. Like the traditional VC we will look at a large section of potential candidates - such as established small to mid-sized businesses with great growth potential but lacking in employees performance, funding, and other issues. We will invest in them, help them raise the needed capital, remake the company using the book "Improve Your Odds - The Four Pillars of Business Success" as the standard blue-print.
Of course, we will introduce them to DNotes, cryptocurrency savings plans, blockchain technologies, smart contracts, and much more. Indeed, we are casting a wide net based on a totally integrated system. I believe that eventually many will finally understand how the book fits in as one of our most valuable building blocks. Likewise, they will understand that DNotes 2.0 is much more than a standard software up grade that should not take more than a few weekends to pull off. And finally we mean every world of it when we say, "This is a Big Bold project of global scale."
