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When the first Bitcoin split took place in August 2017, there was a lot of excitement in the community. Meanwhile, there are already some offshoots of the most popular cyber currency - and it could be in the near future significantly more.

The digital currency Bitcoin , which was publicly tradable in 2009 as the first cryptocurrency, is no longer alone. In the meantime, Ethereum , Ripple , Litecoin and Co. have numerous other digital thalers based on blockchain technology. But in addition to such independent crypto currencies, investors are also finding more and more tokens that boldly demonstrate a kinship to Bitcoin, such as Bitcoin Cash , Bitcoin Gold or BitcoinDark .
In contrast to the former group of digital currencies, they were created by a split or so-called fork from Bitcoin. Such spin-off currencies share most of the software with the original currency, but tend to change it in a few places to bring about an improvement. 
For example, Bitcoin Cash sets to a different block size than Bitcoin: Bitcoin Cash has eight megabytes of storage instead of just one megabyte, which makes transactions faster. After the split, the new currency is then traded alongside the original Bitcoin. 
Incidentally, nothing will change here: the number of maximum available Bitcoin units will not be affected by the new currency and there will also be no direct impact on the Bitcoin price, as the price of the new currency depends on supply and demand.

Number of Forks is increasing rapidly

While Bitcoin Cash was Bitcoin's first "Hard Fork" in August 2017,"Bloomberg" added 18 more forks with new Bitcoin-based currencies by the end of the year. And this trend is likely to continue this year. Lex Sokolin, a fintech strategy expert at financial services firm Autonomous Research, believes that up to 50 bitcoin splits could occur during 2018, according to the newsmagazine.
George Kimionis, head of Coinomi digital wallet, according to information from "Bloomberg" assumes that the Forking could soon become more popular than to bring new currencies using the Initial Coin Offering (ICO) on the market and to the man. After all, Forks offer some advantages: 
Thanks to websites like "Forkgen.tech", it has become extremely easy to create a Bitcoin clone. Already rudimentary programming skills should be sufficient. In addition, those forks that carry Bitcoin in their name also provide the ability to easily benefit from Bitcoin hype. After all, even companies bearing the words "Bitcoin" or "Blockchain" in their name experienced real price rallies last year .

Initiators hope for quick success

In fact, the Bitcoin Cash has also made an impressive development after a somewhat disappointing start. According to CoinMarketCap data, the Bitcoin spin-off is now the world's fourth largest cryptocurrent by market capitalization and has long since outperformed other old coins like Cardano or Litecoin - possibly also thanks to its name.
Of course, this also attracts imitators who want to get away from the cake. After all, in the near future, more than ten percent of the value of Bitcoin and Bitcoin Cash could flow into new, mended Bitcoin clones, hedge fund manager Ari Paul believes, according to "Bloomberg." Since the development team usually receives a large share of the emerging digital talers, this would pay off financially quickly.
"Unfortunately, most fork-based projects these days are just a way to make money," says Coinomi boss Kimionis. He criticized "Bloomberg" that they are rarely honest attempts to contribute to the blockchain system, as Bitcoin Cash did. The performance of such currencies is therefore not as sustainable in all cases as in the digital currency that emerged from the first Hard Fork.

This is how the splits affect Bitcoin owners

If 50 bitcoin forks are actually created in 2018, this will also affect investors who currently own bitcoins. Because they automatically have the right to receive as many new coins as they already own Bitcoin - if their wallet provider or their stock exchange support the new currency. 
However, this does not happen automatically, but the Bitcoin owners have to become active themselves and apply for the new coins, which can be very complicated and time-consuming. Whether this effort is really worthwhile for every new Bitcoin clone, therefore everyone must estimate themselves.
Incidentally, the crypto madness with 50 new Bitcoin offshoots is far from over. Because it is also possible to split a currency created by a fork again. For example, soon the first forking at Bitcoin Cash will be completed - and the new digital currency Bitcoin Candy will be produced. 

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