Bitcoin payment service provider BitPay supports Bitcoin Cash Hard Fork

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The upcoming Bitcoin Cash Hard Fork last week had caused a brief rally of the crypto currency Bitcoin Cash. One of the world’s largest Bitcoin payment service providers, BitPay, will fully support the Bitcoin Cash ABC Hard Fork.

After Binance and Coinbase announced their full technical support for the Bitcoin Cash Hard Fork, Bitcoin Cash’s price rose by more than 40% within a few days. In great anticipation of “free” coins that investors will receive on these platforms, the Bitcoin Cash Hard Fork is the former developer of the digital currency in the international debate.

BitPay has announced on their blog that they will fully support the Hard Fork:

The BitPay system uses the primary software implementation of Bitcoin Cash, called Bitcoin ABC. Bitcoin ABC planned a change to the Bitcoin Cash protocol via Hard Fork on November 15th.

BitPay also advises its users that no transactions should be made before, during and shortly after the fork, as there is a risk that funds could be lost or double booked. If all financial means are simply stored on the wallets, there is no risk (freely translated):

However, we strongly recommend that you stop sending or receiving transactions from your Bitcoin wallets at 10:00 a.m. EST (approximately two hours before the branch). During a hard fork, there is an increased risk that outgoing or incoming transactions will be lost or doubly spent.

There are currently two different camps within the Bitcoin Cash Hard Fork dispute: Bitcoin ABC and Bitcoin SV. Bitcoin ABC, as mentioned at the beginning, has received prominent support from Binance, Coinbase and the mining giant Bitmain. Bitcoin SV, on the other hand, is popular with the Coingeek and SV-Pool pools. As always, the dispute is about increasing the block size. Bitcoin ABC wants to keep the block size at 32GB whereas Bitcoin SV wants to realize the “true vision of Bitcoin” and increase this value to 128GB.

At present it looks as if Bitcoin ABC has a clear majority, but the discussion is far from being conclusive.

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