It appears that BCH ABC is winning the battle against BCH SV, on practically all fronts. On November 15th, a contentious hard fork took place due to disagreement in the BCH community. The community was split into two groups. BCH SV, led by Craig Wright and Calvin Ayre, and BCH ABC, supported by Bitmain founder Jihan Wu as well as “Bitcoin Jesus” Roger Ver.
The outcome of the November 15th hard fork
As of November 19th, BCH ABC remains well ahead of BCH SV regarding hash power, the fuel needed to power the BCH blockchain. It is also ahead of terms of total blocks mined, and most blocks are being mined by ViaBTC, Bitcoin.com, and BTC Top. Bitmain itself is not lending its hash power towards the struggle, though if it did it could potentially add 20 Exahash, four times as much as the hash power of Coingeek and Calvin Ayre. Over half of the blocks mined for BCH SV stem from Coingeek.
Craig Wright, the self-acclaimed Satoshi Nakamoto, has been issuing warnings against Wu and Roger Ver directly via email as well as on Twitter. He sent an email to Roger Ver indicating that “If you want a war, I will do two years of no trade, nothing” and “If you want ABC, you want s***coins, welcome to bankruptcy.” He has also made multiple threats of litigation against miners –
“I will ensure that ANY miner passing DSV can be held liable (under the law of the UK, China and US, they can be). The end will be a drop in value for those using DSV. And, I will help ensure those who lose claim against this act.”
Decisive victory for the BCH ABC camp
Ultimately, nobody was sued, and it was unlikely to happen. Most vendors and merchants seem to be more amenable toward BCH ABC as opposed to BCH SV. On Huobi, BCH ABC has retained the BCH ticker, which is of huge significance. The last resort plan by the BCH SV camp to 51% attack BCH ABC was also prevented through the use of checkpoints. A checkpoint was inserted after every block mined after the hard fork to prevent a reorganization of the blockchain. According to Yours.org developer Chris Pacia –
“A decisive opening battle has been won by the defenders of Bitcoin Cash in Craig Wright’s war to hostile takeover the chain. A checkpoint is a line added to the code that prevents the software from reorganizing the blockchain below the checkpointed block. In the event that an attacker (such as Craig Wright) were to try to 51% attack and wipe out all blocks and transactions that happened on Bitcoin Cash over the past day, the software will not let him do it.”
While BCH ABC seems to have won, it is still early days. Craig Wright is incredibly hostile and fanatical, leveling threats to all his opponents and all competing chains. He does not seem the type to admit defeat and walk away, and BCH SV is here to stay. Hopefully, BCH ABC can put up a united front to prevent hostile actors from destroying blockchains. Regardless of ideological preferences, killing off competition in such a draconian manner is never to be condoned, in any industry.
Digital Nomad with an interest in Zen and Blockchain technology.
Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.