The development history and value of forked coins: ETH, BCH, BSV

Yesterday someone asked me about the value of Bitcoin, BCH, BSV and ETH. Among these coins, except for Bitcoin, the other coins have a common feature, that is, they are all forked coins, so seeing this question, I thought of a topic: the value of forked coins.

In digital currencies, we can often see "forked coins". The more well-known digital currencies are, the easier it is for them to produce forked coins. Then why is there a fork coin? The root cause is one:

The code of the digital currency is open source. Anyone can improve the original digital currency and create a new digital currency. This is a fork or more precisely a hard fork.

But whether the created digital currency can be recognized by everyone and become popular, the first life-and-death hurdle to cross is whether it can get the support of miners, that is, whether there are miners willing to work in the newly created digital currency area. Mining on the blockchain.

Without the support of miners, any digital currency will die immediately. Therefore, this factor is the core for us to judge whether the forked currency is valuable.

Anyone can fork a new currency based on the original currency. In fact, a large number of enthusiasts are doing this every day for scientific research and experimentation.

But will everyone agree with such a currency, and will there be miners to mine and maintain it? almost none. Why? Because there is no recognition, a coin without appeal has no value, and miners will not waste resources digging a worthless coin.

Then only what kind of currency can be recognized and have appeal? Only when the person leading the fork is an industry leader and has industry influence, can people believe that this new fork will develop into a new force and move in a new direction.

BCH, BSV, and ETH are all such cases. The leader of the BCH fork is Wu Jihan, who is well-known in the industry, and behind him is the industry giant Bitmain; while the leader of the BSV fork is Satoshi Aoben, who is controversial in the industry but also has a group of diehard fans; the leader Not to mention the fork of ETH, it is V God, the founder of Ethereum.

They are all people with considerable status and reputation in the industry, so the forked coins led by them will always be followed by a group of believers, and naturally a group of miners will follow. This is the value basis of these three coins.

In fact, in addition to these three coins, there are many forked coins. In the case of Bitcoin forked coins, in addition to BCH and BSV, there are also Bitcoin Diamond, Bitcoin Gold, and Bitcoin Candy. (Bitcoin Candy), Bitcoin Pizza, Bitcoin God, Bitcoin Faith, Bitcoin Atom, etc.

But how many people know such a long list? How many people agree? The fundamental reason is that the person leading the fork has no influence in the industry, and the development idea and original intention of this coin are questionable.

So which one is more valuable, the new currency formed after the fork or the original currency? I analyze mainly two factors:

The first one is still the person who leads the fork. Which one has more influence in the industry, he or the leader of the original currency.

The second is technological and ecological development, which one has more potential and prospects.

Let's take Bitcoin as an example. Satoshi Nakamoto has established Bitcoin's unparalleled position in the history of digital currency development. This determines that any forked currency of Bitcoin will hardly surpass Bitcoin in terms of consensus and recognition.

Not to mention that BCH and BSV have surpassed Bitcoin technically, that is, Ethereum led by Vitalik cannot surpass Bitcoin in terms of consensus due to its rich ecology and widely used scenarios.

ETH itself is also a forked currency. Compared with its brother ETC, ETH is actually a forked currency, while ETC is the original currency.

However, due to V God's organization leading the new fork currency ETH, all subsequent developments of Ethereum revolved around ETH, which led to the development and influence of the fork currency far greater than the original currency ETC.

Finally, back to the topic at the beginning, the value of these coins: Bitcoin > ETH > BCH > BSV.