A Fork in the Cryptographic Road So bitcoin forked. You did not know this. Well, if you’re saving in gold perhaps not. If you’re betting in the crypto-coin casino, you knew it, bet on it, and now we assume are happily diving into your greater quantity of dollars after the fork.
You don’t have a greater quantity of bitcoins; bitcoin has no yield. Bitcoin simply sells for a greater quantity of dollars now than it did before. But who wants to sell? Bitcoin is going to a million bucks – at least. So bitcoin, whatever it is, forked. Whatever forking is. To understand these two concepts, let’s consider an analogy.
Picture a bank, the old-fashioned kind. Call it Acme (sorry, we watched too much Coyote and Road Runner growing up). A group of disgruntled employees leave. They take a copy of the book of accounts. They set up a new bank across the street, Wile E. Bank. To win customers, they say if you had an account at Acme Bank, you now have an account at Wile, with the same balance!
This post was published at Acting-Man on August 8, 2017.