"Forking" bitcoin is basically admiting that original bitcoin is not the future.
A simple way of saying "we are desparate to find ways to make network faster."
It's a total chaos.
Nobody knows anything or has any clear explanations.
Apparently "forking" was not in the original code. But some say it is.
We are clearly dealing with pure human greed here as "forking" bitcoin creates new opportunities to make money out of thing air.
There is literaly a war going on between all the parties who are involved in decision making of what's exaptable and what is not for bitcoin future. And some purely refuse to recognize the "fork" to be valid.
The fact that it's decentralized is not necessarily a benefit as everyone in the bitcoin "cult" believes it to be.
The decision making parties apparently can not agree on many things, which eventually will create major problems.
For example, increase in the initial supply of 21 million bitcoin.
Forking the original bitcoin is the same thing as taking a piece of a gold coin and chipping it.
Back in the days of actual gold coin payments, chipping gold coins to create more coins was punishable by a death sentense.
By chipping the bitcoin you essentually take a bite out of the value (or potential future value of the original coin).
Knowing human creed this is the scenario that is most likely to happen.
Why should I buy 1 bitcoin for $18,800 when I can buy roughly 9 "bitcoin cash" (that were created as a result of a fork) for $2000 each.
If I am holding bitcoin why don't I sell my 1 bitcoin and use that to buy multiple bitcoin cash. It's human nature that having more coins is better. It just kind of makes you feel richer. For the same reason someone would sell bitcoin and buy multiple altcoins.
Hold on but what happens to the price of original bitcoin if more people start doing that?
The price of bitcoin will fall.