The quite recent drama that has been going around the crypto world is regarding Bitcoin Cash. Everyone is talking about the tragic split up of Bitcoin Cash. We will not tease you any further and dive right into the details of it.
The deed has been done, Bitcoin cash has separated into two; Bitcoin Cash SV and Bitcoin Cash ABC. Both the sides weren’t reaching any compromise so it had to be done.
Bitcoin Cash itself was a hard fork from Bitcoin and has been the most successful fork in history; making to the top five and now, even that has broken apart.
Both the sides have been playing a dirty game. Craig Wright, the reason behind the Bitcoin Cash SV, has made it clear that he is all about dirty tricks. He’s not content with the split up but wants the other blockchain annihilated.
Though he seems to be frequently tweeting his stream of consciousness, we are still unaware of what’s going on in his sinister mind. But he is THAT Steve Wright that claimed to be Satoshi Nakamoto, asserted he had proof, failed to provide evidence and still had the balls to call himself Satoshi.
What do we call someone with this behavior? A narcissist.
“We’re still competing. This is going to take some time. This is not a split, this is one survives and one dies and it is not going to be us that dies.” says, Craig Wright.
Craig still believes that bitcoin Cash SV will emerge as the victor by bankrupting the other side. He has predicted that the current power cannot be sustained by the Bitcoin Cash ABC and Bitcoin Cash SV will soon takeover without much effort. It’s a clear win for the Bitcoin Cash SV.
In Bitcoin Cash ABC’s defense, they think that the current hash power could survive for a few months.
The Push and Pull
Although the blockchain has split up, we’re unsure about who will survive. The persistent hostile environment will continue to exist till both the blocks come to a standstill.
For now, both sides of the miners appear to be losing. Unlike before the split, the price of Bitcoin Cash is far from what it was.
Craig might be delusional but we, sadly, are not. Bitcoin Cash Sv reached a peak of $170.97 shortly after the split but has been declining slowly in value over the past six days and has come to a standstill at $60 for now.
Heavy losses are being concurred on both sides and to reach any conclusion is too soon.
The question remains; will Bitcoin ABC continue to maintain the lead as the dominant bitcoin cash network or will it succumb to the fate as predicted by Craig Wright? Will they able to survive the attacks promised by the Bitcoin Cash SV miners who themselves do not have the resources to support such attacks in the long run?
Too many questions and too soon to answer them. We have spilled as much deets we had on this recent drama but hey, we’re no Gossip Girl, we’re still apprenticing under her leadership.