The upcoming Bitcoin Cash [BCH] hard fork has begun to fray relationships in the community, causing a split as evident as the one set to happen on November 15. The two camps in control of the two different implementations of the block are Jihan Wu and Bitmain with Bitcoin ABC on one side and CoinGeek, run by Calvin Ayre, backing nChain and Craig Wright with their implementation known as Bitcoin Satoshi’s Vision.
However, a development has occurred which may imply a split between the latter camp, as Calvin Ayre said in a statement to one of his reporters, Eli Afram, that he will “strive to make future changes for the better” if ABC won the so-called ‘hash war’.
In an article titled “Will this be a protracted hash-war?”, Afram aims to explore the consequences of the fork if it is not a clean split. Instead, a long-standing feud might begin which will see the two parties fight for dominance on a blockchain using hashpower as their primary ‘weapon’.
Afram mentions that this possibility is there, even as Coingeek hopes that dedicated hash might settle the score. He went on to say:
“To find a victor early on and then move forward with building BCH to be a global currency. It is in part one of the reasons why Calvin Ayre referred to this possibility as market manipulation. [I] asked Calvin on his position should ABC win the hash battle, and he responded “If ABC win, then I will follow and constantly work on striving to make future changes for the better.””
This offers an interesting set of data to work with, as the coin is already split between the two camps. It is well reflected on Reddit, where user jonald fyookball stated:
“I care about what’s best for BCH. I’m absolutely sure that the community rejecting nChain’s attempted power grab and intrusion into protocol decisions is best for BCH.”
User Der_Bergmann also pitched in, stating:
“Now we know which side was serious about “let the hashpower decide” and which side just wanted to be the new [Bitcoin] Core.”
While this provides an interesting scenario for the Bitcoin Cash hash war, who decides it will only be settled once and for all in just under 5 days.
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Bitcoin Cash would be a perfect global coin for daily spending, claims Chainblock’s Federico Pecoraro
Federico Pecoraro, CEO of Italy-based crypto-company, Chainblock, made waves in the cryptospace after he suggested that Italians were shifting to cryptocurrencies owing to the country’s growing economic problems. The 2008 financial crisis hit the Italian economy badly, largely due to the huge public debt accumulated after years of excessive public spending.
According to Federico Pecoraro, the state of affairs offers an opportunity for many people and businesses to benefit from using decentralized money. In what is the most newsworthy bit of his take, he said that Bitcoin Cash (BCH) could be the cryptocurrency that would fit perfectly as a real global coin for daily spending, despite the fact that Bitcoin (BTC) is more likely to emerge as a better store-of-value. He added,
“We’re proud to support it on our products. Indeed, our clients have the opportunity to buy BCH through any of our services.”
Pecoraro also spoke about how Chainblock used the crypto-winter to develop new products and expand its customer base. He revealed that by the end of 2018, Chainblock recorded a 156% increase in transactions and a 144% increase in new users. Federico Pecoraro told Bitcoin.com,
“We love small businesses that want to accept crypto payments but we want to enable as many merchants as we can with a strategic market approach. Our goal is to provide affordable and scalable solutions for both big and small shops and spread real cryptocurrency mass adoption. We plan to enable 5,000 merchants to accept Bitcoin payments.”
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