Monday, July 15, 2019

Bitcoin Cash Price Jumps 20% Today Due To Upcoming Hard Fork

Bitcoin Cash Price Jumps 20% due to the imminent occurrence of a hard fork (or hash war) that will happen next November 15. This hard fork will pit two implementations of the protocol face to face and miners will have to choose sides. This will effectively mean that the Bitcoin Cash community will have split blockchains. But the ambient between their supporters is pretty tense.

Bitcoin Cash Price Jumps 20%

Bitcoin Cash, one of the most recognized bitcoin forks, has experienced an unprecedented rise in prices. It gained 20% today according to Coinmarketcap, making it the best performer in a market that has been moving sideways since some time ago. The reason? The upcoming hard fork planned for the next November 15, in which the destiny of the coin will be decided.

Holders must be very happy because Bitcoin Cash price jumps 20%; and traders too, because this gives them a new an opportunity to bet on the market like BitMEX CEO Arthur Hayes declared in his latest mail digest. But although market prices are really going up, all is not rosy in the Bitcoin Cash Community, that is being divided due to this incident.

Bitcoin Cash is less monolithic than Bitcoin, and it has different clients that implement each one a vision of the Bitcoin protocol. Till now, the vision had been common. But this ended when some significant changes were proposed for this new implementation of the protocol, and the parts had differences on some things

Social Media Disaster

A hard fork and differences between supporters is no deal: every big project has inner differences that need to be addressed. But the level of attack that some people have exposed on social media is too virulent.

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On a side, there is Craig Wright, the one that claimed he was Satoshi Nakamoto once but denied it later. He is one of the main supporters of one implementation called SV (Satoshis Vision). On the other, there is Roger Ver, called “Bitcoin Jesus”, that is one of the main supporters of the other initiative called Bitcoin ABC.

The attacks on social media have been relentless, with insults coming and going. but most important is the announcement of a hash war and a patent war that supposedly will be waged by miners compromised with one side or another. If this really comes to happen, it will be the first time that a war of this kind will happen in the cryptocurrency world. In the meantime, FOMO is hitting big and the value is likely to keep rising.

 

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