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Bitcoin Fork Blues? These New Yorkers Threw a Party
It was party time in New York, hours after a new cryptocurrency was forked off from the main bitcoin blockchain.
By Wolfie Zhao
Updated Sep 13, 2021, 6:48 a.m. Published Aug 5, 2017, 1:00 p.m.
They called it "the fork heard around the world."
As the community grappled with the sudden creation of a new version of the bitcoin blockchain, Bitcoin Cash, there was at least one place that seemed free from the fear and speculation that dominated media coverage.
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Undeterred, bitcoiners gathered by the dozens on a New York rooftop to throw a party this week – one that while not exactly celebratory, served as a venue for a kind of catharsis.
As varied as the attire were the opinions of Bitcoin Cash. Between beers, some argued the new cryptocurrency would ultimately overtake bitcoin, while others said it would soon fizzle out.
Some, like blockchain startup founder Dalvo Diamonte, believe that both chains will be successful. Yet, he labeled bitcoin a "failed experiment," as users weren't able to reach consensus on the direction of the protocol.
"Society loses," he said.
More upbeat were those who see it as the continuation of a narrative some have claimed is worthy of a Hollywood movie.
Mobile wallet Airbitz CEO Scott Morgan focused on the game theoretic components of the network – the invisible forces that, just as they united partygoers of disparate backgrounds, unite developers, startups and miners in a great "coopetition" that they still believe could reshape monetary systems.
Elsewhere, attendees were thinking about how they could try to profit as well; openly mulling whether to hold or sell their Bitcoin Cash.
If one thing's for sure based on the event, though, it's that while one group might have split off from bitcoin – the community's spirit remains resilient.
Check out the gallery below for images from last night's "Forkening" party:
Photos by Michael del Castillo for CoinDesk
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