Bitcoin Silver Fork, Another Fork coming up?

Bitcoin Silver Fork

It appears that we hear about a new Bitcoin fork almost every other day. There is the talk of another fork “Bitcoin silver” after the bitcoin gold fork and the Segwit2x upcoming fork. Bitcointalk.org gave the information about this fork:

The purpose of Bitcoin Silver is to make Bitcoin mining decentralized again. Satoshi Nakamoto’s idealistic vision of “one CPU one vote” has been superseded by a reality where the manufacture and distribution of mining equipment has become dominated by a very small number of entities, some of which have engaged in abusive practices against individual miners and the Bitcoin network as a whole.

By changing Bitcoin’s proof-of-work algorithm from SHA256 to Equihash, all of the specialized SHA256 mining equipment will be obsolete for mining the Bitcoin Silver blockchain. Thus, Bitcoin Silver will provide an opportunity for countless new people around the world to participate in the mining process with widely-available consumer hardware that is manufactured and distributed by reputable mainstream corporations. A more decentralized, democratic mining infrastructure is more resilient and more in line with Satoshi’s original vision.

Most of the miners are against the SegWit2X fork because it is putting the power into the hands of major mining companies and taking it away from the ordinary miners. Top major mining companies decided to create SegWit2x in an event called New York Agreement.

The idea is, so that transaction speeds and costs decrease. SegWit2X violates what cryptocurrencies are about, and It goes against everything that decentralization is about and cryptocurrencies are supposed to be decentralized. People, not the large companies are supposed to be making decisions.

How to get Bitcoin Silver?

The development team explained the process of getting it:

The Bitcoin Silver (BTSI) initial coin distribution method is exactly the same as that used by Bitcoin Cash (BCH). All Bitcoin holders who possess BTC private keys in December (block still to be decided) will receive Bitcoin Silver on the rate of 1 BTC = 1 BTSI (If you have 20 BTC you will receive 20 BTSI). You need to control BTC private keys in order to make Bitcoin Silver transactions.

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