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Are Bitcoin forks valuable Introduction to Bitcoin Fork Coin Ra
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Date:2024-05-16 20:15:00 Channel:Wallet Read:
In today's digital currency market, Bitcoin has always been a hot topic that attracts much attention. With the emergence of Bitcoin forks, investors have begun to wonder: Do these forked coins have real value? This article will delve into the ranking of Bitcoin fork coins in 2021 and reveal the secrets.
Background of Bitcoin forks
Bitcoin fork coins, as the name suggests, refer to new digital currencies that are forked from the Bitcoin blockchain. As the Bitcoin community continues to develop, forks emerge in endlessly, such as Bitcoin Cash and Bitcoin Gold. The emergence of these forked coins is often accompanied by technical upgrades or community disagreements, causing market fluctuations and investor confusion.
Value Discussion: What is the attraction?
1. Technological innovation
Bitcoin forks often attract investors' attention through technological innovation. Take Bitcoin Cash, for example, which uses faster transaction confirmation times and lower transaction fees, attracting many supporters. This technological innovation gives forked coins a unique competitive advantage that makes them stand out in the market.
2. Community support
The success of a digital currency is inseparable from strong community support. Bitcoin forks tend to attract the support of original Bitcoin holders and miners, who invest their resources and beliefs into the new currency to promote its development and growth. This community support is an important part of the value of a forked coin.
3. Investment opportunities
For investors, Bitcoin forks are also a new investment opportunity. Investors who held Bitcoin at the time of the fork typically received an equal amount of forked coins, giving them additional profit opportunities. The price performance of some forked coins is also very eye-catching, attracting the attention of more investors.
Introduction to Bitcoin Fork Coin Ranking in 2021
1. Bitcoin Cash
As one of the earliest Bitcoin forks, Bitcoin Cash has always attracted much attention. Its fast transaction confirmation time and low transaction fees give it broad application prospects in the payment field. In addition, Bitcoin Cash’s community support is also very strong, laying a solid foundation for its future development.
2. Bitcoin Gold
Bitcoin Gold is another high-profile fork coin that promotes the concepts of decentralization and democratization. By adopting a more equal mining algorithm, Bitcoin Gold attempts to achieve a fairer method of currency issuance, attracting a large number of supporters. Its innovations in the mining field have also earned it a place in the market.
3. Bitcoin Diamond
Bitcoin Diamond is a fork coin that focuses on privacy protection. It adopts a more private and secure transaction method, attracting investors who value personal privacy. The launch of Bitcoin Diamond fills the market's need for privacy protection and provides investors with more choices.
Conclusion
To sum up, Bitcoin forks play an important role in the digital currency market in 2021. Whether it is technological innovation, community support or investment opportunities, Bitcoin forks have shown unique charm and potential. Investors can look at Bitcoin forks rationally and consider them in their investment decisions based on their own needs and risk preferences. The future development of Bitcoin forks is still full of infinite possibilities. Let us wait and see and witness the wonderful development of the digital currency world!
The four most famous international exchanges:
Binance INTL
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Gate.io INTL
Huobi INTL
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL
Note: The above exchange logo is the official website registration link, and the text is the APP download link.
How many forked coins does Bitcoin have? Currently, the number of forked coins that can be counted in Bitcoin has exceeded 100. I don’t know since when, Bitcoin forked has become a norm. If we want to say that everyone knows Bitcoin forks, then we have to mention the three hard forks of Bitcoin. The three hard forks were on August 1 and October 24, 2017, and November 25, 2018. Bitcoin Cash, Bitcoin Gold and Bitcoin SV were born respectively. Many people want to know whether Bitcoin forks are valuable? Let the editor of the currency circle tell you about it and introduce to you the ranking of Bitcoin fork coins in 2021.
Are Bitcoin forks valuable?
It is well known that since the birth of Bitcoin Cash (BCH), the forks that have appeared since have been unsatisfactory in terms of quality and value, but many people do not know how many forked coins there are.
There are names like Bitcoin Coral, Bitcoin Sudo, and Bitcoin Star that many people have never heard of and may never become famous.
Like most Bitcoin forks, these tokens are not listed on exchanges.
Of the 69 existing Bitcoin forks, only 10 are listed on exchanges.
The combined price of these 10 coins is $941, which is approximately 0.12 BTC. If BCH is not included, the value of these coins is only $206 (0.026 BTC).
For those who hold a large amount of Bitcoin, it is not worth it to easily transfer these coins and risk having their private keys stolen by a third-party platform just to obtain 2.5% of BTC.
When it comes to altcoins, the rewards for such operations are even less. Most of these forks directly copy the code of the original chain.
For example, Verge is a fork of Dogecoin, but it has never been distributed to Dogecoin holders in a 1:1 ratio.
In addition, there are 6 forks of Ethereum, 3 forks of Litecoin, and 6 forks of Monero. Only 3 of them can be traded, with a total value of only $20.
You don’t even need to look too far to figure out that acquiring forked coins is pointless unless the exchange automatically deposits the forked coins into your account
Introduction to the ranking of Bitcoin fork coins in 2021
According to statistics, from 2017 to 2018, there were more than 50 Bitcoin forks. There are only more than 10 types of forked coins that have survived. For the market value ranking of Bitcoin forked coins, please see the ranking above. Behind such forked coins, are some supporters trying to improve Bitcoin? Or are they motivated by interests? In the editor's opinion, most forked coins have no value and are just for profit. These forked coins all have a common feature: their names are basically related to Bitcoin, and they all support the distribution of new coins in a fixed proportion to Bitcoin holders. The core developers of the forked coins control a larger proportion of the new coins. If calculated based on the 50 forks in 2018, the overall market value of the Bitcoin family is unrivaled. In the near future, a Bitcoin family football team will be born!
To sum up, this is the answer of the editor of the currency circle to the question of whether Bitcoin fork coins are valuable and the introduction of the ranking of Bitcoin fork coins in 2021. The editor of the currency circle hopes that all investors can read this article Get a deeper understanding of Bitcoin’s forks. The editor of the currency circle here reminds all investors that among the many forked coins of Bitcoin, very few can survive, and even fewer can develop sustainably and stably, so everyone should still adopt a cautious attitude. The value of forked coins is very limited, especially when new technologies emerge in the blockchain field, forked coins will receive less attention, and the final result will inevitably be zero.
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