The market is keep on evaluating whether new Bitcoin forks will take on Bitcoin. In this story, I will explain it in an e-economics perspective.
Back in the days Facebook is not even found, there are economics studies point out that, a company or services in online world that have slightly better technology to attract more users to adopt the service will take over the whole industry. This is called the tip up effect. There are similar marketing concept calls winner-takes-all.
What's that means?
It means any platform or services that can attract more users will lead to more users to join and eventually becomes the industry leaders due to the need on compatibility between users platforms. When every one is using the same platform, communications will be smooth and people like you and me like this.
Example
- Microsoft Office VS Corel Office
- Google VS Bing
- Facebook VS mySpace
- WhatsApp VS ......
- iPhone VS Windows CE
What makes me think the same in Bitcoin
- Basically, this is a communication protocol issues. The more people to use the same protocol, the more usable and stable your communication will be. If you are not on the same protocol, the send and receive mechanism is not working anymore. For Bitcoin that has been around for about 9 years, it leads and the commercial adoption is adequately pushing it further beyond today's scope.
- Forks, that change protocols, create communication issues. A better forks like BCH and the coming possible 2X hard forks means the same. When average people want to join the cryptocurrency world, they will only pick up one that is well-known to them - this also means the most advanced development like 2X will not draw attention to make adoption happen large enough.
- Altcoins, which work similarly to Bitcoin, but their assumption are not the same. Most of them do not contain the properties contributing to Bitcoin's success.
Although there are news pointing to BitPay and Bitmain's intention to change the Bitcoin in the way they want Bitcoin to work, it is safe to assume that the community will point the development to the right direction that will not affect the value of your existing Bitcoin investment.