Embrace The Coming Bitcoin Fork (3 of 5)
David A. Johnston

As one of the responses so far shows, there is a need to clearly differentiate a fork of Bitcoin (an altcoin, with a new ledger) and a ledger-fork of Bitcoin (using a copy of the same ledger). Other names are possible, but it is crucial to keep these separate in one’s mind as they make all the difference in the world for investors and in terms of preserving Bitcoin as sound money.

Altcoins introduce actual inflation: loss of purchasing power for Bitcoin holders, though very small so far as no altcoin has succeeded much. But ledger-forks of Bitcoin do not affect Bitcoin holder purchasing power at all. They can be done endlessly with no harm at all to investor value. Hodlers can hodl, completely unaffected. They merely have to deal with having their wallet split into two batches, with their coins in each having a different price — the total being the same as whatever they had before, all else being equal. (Most likely if the market wanted a split and got it, the market would be happy, so the total market cap would be higher than before the split, meaning all else would not be equal: the holder would in fact be even wealthier.)

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