The battle for the future of Bitcoin Cash, which has already been described by some media as a “civil war”, is entering the next round. First, Amaury Séchet, lead developer of the BCH faction that prefers BCHABC, proposed a radical step: Séchet said developers should keep the option open to perform an emergency fork to rewrite Bitcoin Cash’s hashing algorithm based on the proof-of-work principle. Now there has actually been a Hard-Fork. Séchet himself described this step to CNN as the “nuclear option”.
#BitcoinCash #BCC #BCH pic.twitter.com/SxZdSCNHti
– Bitcoin Cash (@BITCOlNCASH) September 29, 2017
The “nuclear option” has won
The reason for the radical expression is that the BCHSV version of Bitcoin Cash could theoretically be attacked by hackers who support Bitcoin SV, the variant of Bitcoin Cash promoted by Craig Wright and Calvin Ayre. The dispute about the future of Bitcoin Cash and which variant should prevail has been raging for some time now. The investors are on the side of the BCHABC fraction and the “nuclear option” of Séchet: While BCHABC tokens were traded for almost 400 dollars, the price of BCHSV was recently only 130 dollars. On our Bitcoin Cash course page you can see all the details and the most recent courses. The advocates of the more popular variant calculate that the change to the coin’s proof-of-work algorithm should protect Bitcoin Cash from an attack from the SV Camp and thus make the currency more secure against hackers. Until now Bitcoin Cash used the Hashing Algorhitmus SHA256, which is also used by Bitcoin.
Watch Live: https://t.co/Y5FTvGslzJ 🍿 pic.twitter.com/QpFhERb5yV
– Bitcoin Cash (@BITCOlNCASH) 15 November 2018
Hard-Fork pushes the price
It is still unclear how markets and brokers will react to the latest news in the long term. Because what was looming has now actually happened. Séchet’s statement followed the Bitcoin Cash Hard-Fork, which is supposed to make the coin faster. Since the announcement, the exchange rate of the currency shot up. Good news, because many providers, such as eToro, which has just introduced an eToro wallet for Bitcoin Cash and other coins, have Bitcoin Cash in their portfolio. Since the end of last year, Bitcoin and Bitcoin Cash have been anchored in the consciousness of the general public, and many renowned portals provide tips on investment.
For more cautious investors who want to wait for long-term developments, it is advisable to switch to other currencies such as the popular Ethereum. Buying Cardano can also be an alternative to creating a BCH Wallet. But the signs are good, not only investors, but also companies stand behind the step. And of course Amaury Séchet, who likes to call himself the “good-natured dictator” behind Bitcoin Cash and who seems willing to initiate the successful future of the coin against the resistance of other groups. If necessary also again with a “nuclear option”.
Disclaimer: This article is not an investment recommendation and should not be treated as such.