Post
Topic
Board Beginners & Help
Re: Understanding Bitcoin Fork
by
AdolfinWolf
on 01/09/2018, 13:24:10 UTC
What exactly is a fork when it comes to bitcoin? Will other coins also Fork? Will Bitcoin continue to Fork later on down the line?
-snip-

This is a very clear answer! But it raises the following question: who are those developers (location, how many, etc.)? Who pays them? From your answer it seems like they can award coins by their will.

They can, and there are several forks who basically pre-mined their own fork to then sell those coins for a profit. Pretty shady if you ask me.

One of the larger forks that did this was Bitcoin Gold.
They explained it themselves here, https://bitcoingold.org/premine-endowment/

Quote
Our premine accumulation of 100,000 coins was about 0.6% of the total number of outstanding coins (which was about 16.6 million Bitcoin Gold coins after the premine), so it’s a tiny fraction – and is even tinier compared to true pre-mines. The rest of the Bitcoin Gold (BTG) coins are in the hands of whoever held the corresponding Bitcoin wallets before the fork – which includes many thousands of individuals and organizations all around the world.

I believe that there also was another fork that credited themselves with all coins that satoshi is said to have mined, but i can't remember which one that was from the top of my head.