Hello Guys,
I'm not an expert of Virtual Currencies like BTC, BCC, liteCoins etc. but I'm just curious what is the main reason forks were made out of BTC popularity?
Do BCC is helping BTC to increase value?
Is BCC is created to rival other existing Low-end Virtual Currencies?
Do you believe another forks will exist after a few months or years?
Talk to me, please... thanks
A fork is done when two miners find a valid hash within a short span of time, you can read this on google. This just means that bitcoin needs a fork because its previous code can no longer reply to the huge demands and large volume of transactions on the mempool. Lets just say that forking is a way of upgrading bitcoin so it can speed up the confirmation of transactions. But due to different beliefs of two groups thus we have bitcoin split and bcc or bitcoin cash is born. It is unclear if bitcoin cash will help increase the bitcoins value but in my opinion it will pull bitcoins value down since if btc supporters will shift to bcc then the value of bitcoin can go down.