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Re:What is a Bitcoin fork? by CydeWeys on Friday November 10, 2017 @05:23AM (#15669006)
Yes, anyone can start a fork. It's hard to get momentum on it though, as it'll likely just be a shitcoin that no one cares about. Witness what happened with Bitcoin Gold.

So far there's only been one successful hardfork of Bitcoin (Bitcoin Cash) in all its history. Anyone can try, but few succeed.

Re:What is a Bitcoin fork? by kbart on Friday November 10, 2017 @06:01AM (#15669137)
Yes, but it doesn't answer the OP's question. What if government, official bank or other strong entity with virtually unlimited resources starts a fork (something like Ecoin for those who watch Mr. Robot)? I wouldn't call such event improbable.
Re:What is a Bitcoin fork? by beefield on Friday November 10, 2017 @06:49AM (#15669281)
I strongly assume that a strong entity would prefer to create a new coin from scratch instead of donating huge amounts of value to existing bitcoin owners.
Re:What is a Bitcoin fork? by bpicolo on Friday November 10, 2017 @09:38AM (#15670101)
> virtually unlimited resources

Having resources doesn't matter, it's a hype-based economy

Re:What is a Bitcoin fork? by mrb on Friday November 10, 2017 @11:46AM (#15671079)
It is much too early to judge Bitcoin Gold. The launch has not even taken place yet. They forked a few weeks ago, the developers are currently mining privately, and the public launch will take place in a few days. People criticize the pre-mine, but it's only 0.6% of the total supply of coins. Perfectly reasonable IMHO.
Re:What is a Bitcoin fork? by CydeWeys on Friday November 10, 2017 @12:34PM (#15671447)
Most people don't think that pre-mines are reasonable at all. That's a good way to know which coins are scams. Why do they deserve 0.6% of a total market that could be worth billions of dollars, exactly? Because they changed a hash algorithm and released a marketing website?
Re:What is a Bitcoin fork? by xorcist on Saturday November 11, 2017 @06:18AM (#15675891)
That used to be the prevailing opinion. Pre-mined coins were generally regarded as scams or pump-and-dumps. But after Ethereum which is almost all pre-mined sharply rose in value, there seems to have been a change in public perception. This is what opened the gates for the new generation of altcoins, also known as ICOs. They don't pretend that they're anything else than pre-mined. In fact, the huge sums that the pre-mined coins are sold for is used for marketing as a measure of interest in their coin. It's a strange new world.
Re:What is a Bitcoin fork? by mrb on Friday November 10, 2017 @01:03PM (#15671678)
Why did Airbnb founders deserve X% of the shares of their company that could be worth billions of dollars? Because they made a stupid simple website to rent out your apartment? Same question, same answer. We live in a capitalistic world, I think it is reasonable that people try to launch for-profit ventures. Ethereum did something equivalent to a pre-mine + instant sale: they created the initial ETH supply out of thin air, and immediately sold it for BTC to investors.
Re:What is a Bitcoin fork? by CydeWeys on Friday November 10, 2017 @01:25PM (#15671816)
Startups aren't comparable to cryptocurrencies. There is serious resistance to pre-mining in the cryptocurrency world.
Re:What is a Bitcoin fork? by SCAQTony on Friday November 10, 2017 @11:03AM (#15670738)
Perhaps cryptos simulate "religions" whereas a single idea fragments in tens-of-thousands of variations? Look how many sects Christianity has after the Protestant Reformation "Hard Fork"
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Re:What is a Bitcoin fork? by dcminter on Friday November 10, 2017 @08:04AM (#15669566)
Not in the sense meant here.

Litecoin is a fork of the Bitcoin core codebase, but its blockchain is not rooted in the Bitcoin blockchain (i.e. Bitcoin owners did not automatically inherit Litecoin at the time of that fork).