Crypto Coins News - Ratings - Reviews
The risk of a hard fork has been increasing. And many seem to be taking a watch-only approach as those who control hashing power signal and inform us about their chosen fate for Bitcoin.
But bitcoins are tokens. And tokens who only have the value people believe them to have.
It doens't matter if you are a big blocker or small blocker. If you believe the other side is harmful and dangerous for Bitcoin, it's a dangerous position for you to just watch. Rather, it would be wisest, in the event of a split, if you sold all your tokens on the "other" chain, whichever it is for you, and buy tokens on "your" chain, possibly doubling your holdings there (if both tokens have similar price upon split).
I can't find any rational standpoint for someone to adopt a wait-and-see position, unless he believes both are good, plausible alternatives. Cause if he strongly believes the other token is doomed, why do you want to risk hodling a doomed token? And by hodling it, he is actually helping it prevail, thus being a part of a self fulfilling doom prophecy. And if "his" token is the only one worth having, he is just missing out a one in a lifetime oportunnity to double his position.
We, token holders have the power to make miners irrelevant, to turn them into what they are: service providers to us. If they don't serve the users well, they might end up pouring tons of energy securing and producing a worthless token.