The Bitcoin Cash fork seems to be a never-ending saga of rage-fuelled debates between a bunch of bad actors, but what will happen when this is all behind us? What implications will the Bitcoin Cash hard fork actually have?
We have covered the hash wars between Bitcoin Cash ABC and SV. We have reported on Bitman CEO Jihan Wu’s precarious position, but what will the landscape look like when the Bitcoin Cash fork is over? Some say the attention surrounding Bitcoin Cash will subside, causing miners to switch their emphasis back to the real Bitcoin with Bitcoin Cash finally falling to the wayside, but this remains to be seen.
Dr Craig Wright, who bizarrely claims to be Satoshi Nakamoto, is on the side of the SV chain. The controversial figure has openly lambasted his opposition this week.
“I don’t really care what people do on the ABC chain. It’s ending.” he said. “We are not forcing a split with ABC, they are.”
Bursting Transient Hash = Market Manipulation = scamming and can not actually work. Do not brand yourself a public cheater by following Bitmain and https://t.co/ycwTZ1zR0H over the moral cliff.
— Calvin Ayre (@CalvinAyre) November 15, 2018
Wright continued: “Jihan Wu is trying to turn BCH into Ethereum 2.0 using plasma. For this the BCH currency will be used as form of gas.”
Regardless of the drama and the eventual outcome, volatility has finally returned to the market after months of stagnation, so maybe the Bitcoin Cash fork has been a blessing in disguise for the cryptocurrency space.
While more downside in the market is certainly a possible outcome, the chance of a bounce past the previous level is also more likely than it was over the past few months.
It will be interesting to see what transpires over the coming days and weeks but one thing is for certain. Coin Rivet will be here reporting 24 hours a day to keep you up-to-date on everything happening in this wonderfully bizarre ecosystem.