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Bitcoin Cash HardFork: Coinbase, Binance Announce Support for Nov Upgrade

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Bitcoin Cash (BCH) is up by 15 percent ahead of the upcoming hard fork. The bitcoin cash (BCH) network typically conducts a hard fork twice in a year.

Bitcoin Cash Price Rise ahead of Hardfork

Bitcoin Cash (BCH) is up by 15 percent ahead of the upcoming hard fork. The bitcoin cash (BCH) network typically conducts a hard fork twice in a year and schedules these as part of its protocol upgrade. The next such hard fork is going to happen on Nov 15 this year but appears to be packed full of drama if the fluttering happening across cryptoworld is any indication.  

 

The Hardfork: Nov 15

The roadmap for bitcoincash.org is published and Coinbase, the influential crypto exchange has already offered support on this move.

There is a conflict of interest – with Wright offering an alternate solution. The proposal is considered as a competing offer as it questions a few of the protocol changes that are not in line with the roadmap.

Coinbase is monitoring the hard fork process and is expected to set to work so that customers are not unduly disturbed and at the same time the network is able to match the needs of the security standards that are in place at Coinbase.

In an announcement, the exchange has said that it will pause the ‘sends and receives’ process such that BCH wallets on the website are not disturbed. This will be applicable to its apps on iOS as well as android as well.

The request is out that on its Pro and Prime all BCH sends and receives should be completed before the hard fork timings announced by the project. In the transition period, Coinbase will be the custodian of the BCH.

The exchange has also said that it will monitor the cash network in the process of the upgrade. Since it cannot predict the time-frame of the entire upgrade process, it believes that upon completion it will evaluate the network. Then it will prioritize in term of what has to be “re-enabled” on the aspect of sends and receives.

It also states that customers will also have time-based updates on the progress. The outcome of  the network will once again see that the network will arrive at a consensus.

It also concludes that the in the event that a viable chain persists after the fork and multiples persist, it will always review the issue in terms of customers needs and ensure that they will always have access to their funds and chain.

The contentions are on the aspect of BitcoinABC Client and canonical ordering. The two protocols: DSV being OP_CHECKDATASIGVERIFY and OP_CHECKDATASIG.

Riding high on the contentions, Bitcoin Cash is up by 15% currently, even as Binance also offers support for a hard fork of Bitcoin Cash.

Bitcoin Cash

Why Bitcoin Cash SV is the real winner of the Hash War

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Bitcoin Cash SV community did not really get wrecked during the hash wars but rather they ended a winning as they were successful

Bitcoin hardfork was successful and BCH split into two cryptocurrencies Bitcoin Cash ABC and Bitcoin Cash SV. Both the coins were listed on binance, the top cryptocurrency exchange and the owners of the original bitcoin cash were awarded both BCHABC and BCHSV.

Craig Wright also known as ‘Faketoshi’ by many crypto enthusiasts as he claims to be Satoshi Nakamoto, the founder of the original bitcoin is the man behind Bitcoin Cash SV.

 

Why Bitcoin Cash SV is the real winner:

Many people believe that the Bitcoin Cash SV was wrecked during the hash wars but what people are not realizing is that the Bitcoin SV community received the publicity of being one of the top 10 cryptocurrencies by market capitalization for free and at the same time automatically getting listed on the major exchanges such as binance.
Roger Ver, the founder of bitcoin cash may have believed that the fork is never going to happen but the bitcoin cash SV community was successful in completing the hardfork and splitting the original chain into two parts: BCHABC and BCHSV.

The cost of mining during the hash war may have been more than $300,000 per day but that is far too less if you wish to bring your coin to the top 10 cryptocurrencies according to market capitalization, getting listed on all major exchanges and at the same time having the coin priced at three digits. All these things combined would have cost billions of dollars rather than just a few millions that the team BCHSV is spending. So maybe the team behind Bitcoin Cash SV were successful in achieving what they actually wanted to.

 

So summarizing the hash wars, we believe the Bitcoin Cash SV community did not really get wrecked during the hash wars but rather they ended a winning as they were successful in creating a coin which is perhaps under the control and listed on all major exchanges with massive liquidity.

 

The following article is the viewpoint of the writer and does not intend to publicize or suppress any company or cryptocurrency. Readers are advised to do their own research and analysis before investing or trading in any cryptocurrency or digital assets.

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#Bitcoin

Bitcoin Cash BCH Hash Wars: Who is winning?

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The Bitcoin Cash hash war is still on with close to 300 blocks mined on the BCHABC side using the new ruleset, which has also given the BCH network the most accumulated proof of work. Cryptocompare has given the BCH ticker to BCHABC chain followed by Bittrex also appointing the ABC chain with the BCH ticker. The ABC chain has gained more support and also mined more blocks since the split of the BCH chain into BCHABC and BCHSV. The SV chain has performed less work till now.

 

Faketoshi “Satoshi’s Shotgun”

Craig Wright had earlier threatened that he will destroy the BCH ABC chain by mining empty blocks using his huge hash power, which is being called “Satoshi’s Shotgun”. BCH ABC has apparently survived the Shotgun. Peter Rizun from Bitcoin Unlimited said:

“The difference in network effect stark: BSV has few users, no OSX or Windows clients, no block explorer, perhaps one mobile wallet, and a shotgun that doesn’t shoot so straight,”

According to cash.coin.dance, BCH ABC is currently 51.9% ahead on proof of work and is 15 blocks ahead, meaning miners will to secure the BCH ABC side and that exchanges ca resume deposits and get everything back to normal. Many supports believe that the ABC side has already won the battle.
Bittrex has listed the ABC chain as BCH and the SV chain as BSV.

While many BCH supports are claiming that the war is over and the ABC side is close to winning it, SV supporters still believe that the hash war will continue for weeks and Craig Wright continues to claim that he will destroy the ABC chain by mining empty blocks.

What do you think about the hash war? Comment below

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#Bitcoin Cash Price Analysis

Bitcoin Cash Price Analysis: BCH post fork downfall

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Bitcoin cash price exchanged beneath the key $400 support. BCH/USD could amend higher, however, dealers are probably going to show up close $420 or $450. 

MACD – Set in the bullish zone.

Relative Strength Index – Cose to the 40 level.

Significant Support Level – $360

Significant Resistance Level – $405

 

Key Points

  • Bitcoin cash price expanded misfortunes and exchanged beneath the $400 level against the US Dollar.
  • There are two key bearish pattern lines set up with resistance at $420 and $450 on the hourly diagram of the BCH/USD pair (information feed from Kraken).
  • The pair stays at a danger of more misfortunes underneath the $360 level in the close term.

Bitcoin cash price exchanged beneath the key $400 support against the US Dollar. BCH/USD could amend higher, however, dealers are probably going to show up close $420 or $450.

 

Bitcoin Cash Price Analysis

Recently, we examined that bitcoin cash price could broaden misfortunes beneath $400 against the US Dollar. The BCH/USD pair remedied a couple of focuses as of late, yet it neglected to break the $450 resistance. Afterwards, there was a sharp drawback move and the price declined underneath the $420 and $400 supports. A new low was shaped at $360 and the price is currently exchanging admirably beneath the 100 hourly basic moving normal.

Right now, the price is solidifying misfortunes around the $380 level. It appears as though the 23.6% Lie retracement dimension of the last slide from the $451 high to $360 low is going about as a resistance. In addition, there are two key bearish pattern lines set up with resistance at $420 and $450 on the hourly outline of the BCH/USD pair. The principal bearish pattern line concurs with the half Lie retracement dimension of the last slide from the $451 high to $360 low. Consequently, the $400-405 zone could forestall gains in the close term.

 

BCH USD 1 day chart

BCH USD 1 day chart

 

Taking a gander at the diagram, Bitcoin cash price could rectify a couple of focuses above $390. Notwithstanding, purchasers are probably going to battle close $400, $405, $420 lastly $450. On the drawback, the following focus for sellers could be $350.

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