Due to the upcoming hard fork, Bitcoin Cash price has jumped by 20%. There is an imminent occurrence of a hard fork (or hash war) that will happen on November 15. Here, miners would have to choose sides as this hard fork will juxtapose two implementations. This further suggests that the Bitcoin Cash ecosystem will have split blockchains.
Bitcoin Cash Price Up By 20%
According to Coinmarketcap. Bitcoin Cash (BCH) rose by about 20% in the last 24 hours, this is unprecedented and has promoted Bitcoin Cash from being just one of the most recognized Bitcoin fork to the best performer in the market. This rise has been attributed to the upcoming hard fork scheduled for the next November 15, in which the destiny of the coin will be decided.
With this significant increase in the price of Bitcoin Cash, holders and traders appear to welcome the price jump. For what reason? This will enable them to bet on the market just as BitMEX CEO Arthur Hayes declared in his latest mail digest. However, it is a different tune in the Bitcoin Cash ecosystem which is being divided owing to this incident.
Bitcoin Cash has more use cases than Bitcoin, owing to the existence of different clients implementing every single vision of the Bitcoin protocol. The vision has always been common until when the changes were proposed for this new implementation of the protocol, and the parts had striking differences on some things.
Social Media Disaster
In the reality of this, a hard fork and differences between supporters is not such a big deal. This is because every significant initiative has inherent differences requiring serious attention. However, the level of attack exhibited by some users of the social media appeared to be a bit hostile.
Faceoff best summarizes what happened, as Craig Wright on one side, and Roger Ver, called ‘Bitcoin Jesus’ on the other side of the tussle. The former, who claimed he was Satoshi Nakamoto before (which he later denied), is a staunch supporter of an implementation called SV (Satoshis Vision). The latter is a major supporter of the other initiative called Bitcoin ABC.