Yesterday, November 15, 2018, the Bitcoin Cash network had a hard fork. As a result, now the chain has split up in two different coins, as expected, BCHABC and BCHSV. The fork occurred at block 556,766.
The fork got postponed.
The fork was expected to happen at 16:40 UTC, but it got delayed and occurred several hours later. Twitter and social media sites were blowing up because of this event. Everyone had an opinion and wanted to share it with the world.
The world was watching.
There were a series of live streams on Youtube. Tone Vays hosted one where the top BTC supporters gathered to talk about what’s happening. Giacomo Zucco, Willy Woo, David Silver, Charlie Lee, Nick Core, Francis Pouliot, Ven Zen, and many many more popular Bitcoin defendant figures were just a small part of the video.
There was another video on CoinSpice channel, where similarly, a lot of Bitcoin Cash supporters gathered along to wait for the fork to happen collectively. Vitalik Buterin and Roger Ver joined them as well. Both of those videos turned out to be longer than seven hours.
That would have been a regular fork if both leaders of both camps hadn’t engaged in a severe hash-war. It was almost like following a sports game of some sort. It was something the crypto-space had never experienced before. Such media coverage and unknown outcomes had never rustled with cryptocurrencies.
You can check the technicalities and specification on both forks in our previous articles about the fork itself, and one where Roger Ver comments on it.
It all got so far that the supporter behind Bitcoin Cash SV, Craig S. Wright, started vowing that he would destroy the Bitcoin Cash ABC network. Although just minutes before the fork took place, it looked like Bitcoin Cash SV had the most hash-rate support, it turned out to be in favor of Bitcoin Cash ABC. As a result, BCHABC had a significant lead over the BCHSV hash-rate. Approximately 75% of all BCH nodes were running the ABC network, while only 8% were supporting the SV network. Consequently, the Bitcoin Cash hash-rate war winner is Bitcoin Cash ABC. Some exchanges have already clarified that soon they will replace the BCH ticker with BCHABC, thus making Bitcoin Cash Bitcoin Cash ABC.
As for Bitcoin Cash SV, it looks like mining at a loss will not be an option and they will switch to a different network.
At the time of writing judging by the statistics of Coin Market Cap, BCHABC is trading at $287,41 with a +3% gain, whereas BCHSV is trading at $112.73 with a -29.85% downtrend occurring.
Both are being traded on Poloniex, Bitfinex and HitBTC. Available pairs are BCHABC/BTC(Poloniex, HitBTC); BAB/USD(Bitfinex); BAB/BTC(Bitfinex); BCHABC/USDC(Poloniex), and BCHSV/BTC(Poloniex, HitBTC); BCHSV/USDC(Poloniex); BSV/USD(Bitfinex); BSV/BTC (Bitfinex).
Photo by rawpixel.com from Pexels.