After almost two days after a hard forks of Bitcoin Cash question about which of the two resulting chains may consider itself the winner, remains. Asset trades on many exchanges still frozen, or go under different tickers, while miners lose a lot of money trying to establish control over bloccano.
We will remind, as a result, the hard forks of Bitcoin Cash created two competing chains, which, at this point for convenience are called Bitcoin Cash ABC (ABC BCH) and Bitcoin Cash SV (SV BCH). Representatives of both camps in this case was involved in the so-called “war of Harrachov. And if at first, given the additional resources allocated pool Bitcoin.com it seemed that the top picks Bitcoin Cash ABC, the moment of confidence that he will win the final victory, yet.
At some point after hard forks chain Bitcoin Cash ABC was ahead of 50 blocks, however by Saturday this had decreased to 11. Moreover, according BitMEX Research, each of the parties together lost more than $0.5 million, more than $1 million for two.
ABC & SV Split Live Update
Each side has now made losses of over US$0.5 million in electricity costs pic.twitter.com/4yMcMCBgyl
— BitMEX Research (@BitMEXResearch) 17 November 2018
Kind of a complicated situation at the moment and with the price of Bitcoin Cash. If we turn to data from Coinmarketcap, almost two days after a hard forks the average rate of this fourth by market capitalization of bitcoin has dropped on Saturday, November 17, below $400. Thus, in recent days the BCH price fell more than 4%, and over the past seven days, this figure amounted to almost 29% — the worst result in the Top 50 CoinMarketCap even in conditions of still in red zone market.
However, the objectivity of the data that is currently showing Coinmarketcap, is extremely difficult to appraise. As you know, trades asset on many exchanges, while still frozen, or go under different tickers (BCHABC and BCHSV). However, if Coinmarketcap and shows a price of around $400, on a number of platforms, it is significantly lower — on average between $250 and $300. Also issues are displayed the volume of trades — $375 million over the past day
Many exchanges, including Kraken, Bitstamp, Coinbase and Bittrex, has already managed to declare that under the Ticker BCHABC they understand what last year was known as the BCH. A list of exchanges that made the decision available on reddit.com/r/btc.
The same decision, apparently, was accepted, and the exchange Binance. At least, that is what a recent tweet from the head of the exchange Canina jao, in which he said that both the Ticker — BCHABC and BCHSV will be kept.
One thing about the fork, these symbol names will stay. Binance will not support changing of trading symbols later. If anyone asks for it later, let’s refer them back to this tweet. https://t.co/j1h3gb4edQ
— CZ Binance (@cz_binance) 16 November 2018
Thus, the Ticker BCH, apparently, in the foreseeable future will be history. That supporters of Bitcoin Cash ABC is akin to a Pyrrhic victory, wrote for example, independent cryptocurrency researcher Hasu.
ABC “winning” the hash war and losing the BCH ticker.. is that what you call a phyrric victory
— Hasu (@hasufl) 16 November 2018
Also note that the developers of Bitcoin ABC I actually have another little “surprise” in the form of previously unannounced checkpoint, which was included in the client a few hours after the fork. Writes for Bitcoin Magazine, this reference point enables the first block of Bitcoin Cash ABC as a new Protocol rule. Thus, any chain without that block will be considered invalid, and the inclusion of this control point is largely really helps in the “war of Harrachov”. However, it is also highly controversial, because it implies a certain Central control bloccano Bitcoin to Cash from the ABC team ABC Bitcoin – while in traditional models the nodes tend to follow the longest valid chain, this reference point implies a possible change in the mechanism of consensus.
Users, of course, you can make a choice about the software and to abandon the version of the Bitcoin ABC with this control point. This, however, creates the risk of yet another split chain – conditional on Cash Bitcoin and Bitcoin Checkpoint ABC Cash ABC Classic. At the moment, according forkmonitor.info realization of such a separation would have cost nearly $1 million.
Meanwhile, despite the fact that supporters of Bitcoin Cash ABC seems to believe in his “win”, many supporters of Bitcoin Cash SV refuse to admit defeat. So, one of the main ideologists of Bitcoin SV Craig Wright recently wrote that the war of Harrachov is a marathon, not a sprint.
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