Backed by the likes of Jihan Wu (Co-Founder of cryptocurrency mining behemoth Bitmain) and Roger Ver (cryptocurrency pioneer, one of the original founders of the Bitcoin Foundation, and somewhat controversially, CEO of Bitcoin.com), Bitcoin Cash gained a significant amount of steam and user adoption. The core people previous were really really opposed to any sort of contentious hard fork and I think there's some merit to being afraid of that. The last two upgrades back in November 2017 and May 2018 were successful and there wasn't much controversy revolving around those forks.
Based on the decentralized nature of cryptocurrencies forks can get very complicated very quickly due to all the different stakeholders involved.
Bitcoin Cash is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm.
What's your take? Which Bitcoin Cash fork will win out?
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After sharing the email and bringing Wright's maturity into question, Ver contrasted the controversial crypto figure's words with those of fellow Bitcoin SV proponent and gambling entrepreneur Calvin Ayre. I will see BCH trade at 0 for a few years.
Poloniex crypto exchange was purchased by a blockchain holding Cirlce for reportedly $400 million. That's particularly true since SV backer Craig Wright - whose firm, nChain, is leading the development of the SV software - has suggested that SV miners could blacklist certain addresses that spend funds on the ABC chain.
To trade the pre-fork tokens, users must deposit bitcoin cash on the Poloniex platform and then use the conversion tool to split the coins into an equivalent number of "Bitcoin Cash ABC" (BCHABC) and "Bitcoin Cash SV" (BCHSV).
If we look forward, the continuous uncertainties and the increased price volatility could weigh on Bitcoin Cash / USDT, which has increased too and above the 600 region which encourages a downside correction toward the major 38.2% retracement on the rally during November.
This disagreement has devolved into threats and name calling between the two sides.
In August 2018, the larger Bitcoin ABC community shared Bitcoin ABC 0.18.0. Without Bitcoin SV support, you can not hold it on that exchange. "Please deposit in time, Huobi Global will help you with the technology issues regarding the hard fork".
With several exchanges and wallet suspending support for bitcoin cash token (BCH) in anticipation of its forthcoming hard fork.