The November 15 Bitcoin Cash [BCH] hard fork took off to a start with the Jihan Wu and Roger Ver led ABC implementation of the cryptocurrency gaining the first two blocks as per the new consensus rules. At press time, the ABC team was still in the lead by one block after the SV Pool mined their first block.
The split has also resulted in Bitcoin Cash charts being unavailable on Tradingview with the ‘BCH’ ticker symbol going missing. The new charts after the split are holding as BSV and BAB on Tradingview. Bitfinex, a popular cryptocurrency exchange, also announced that the new ticker symbol will be decided once the hard fork is complete.
The hard fork has been making news for the past couple of days with the fourth-largest cryptocurrency seeing massive conflicts within the network. At the time of writing, the ABC implementation of Bitcoin Cash was leading compared to the Bitcoin Satoshi Vision led by nChain’s Craig Wright.
Craig Wright was also in the news recently when he talked about Bitcoin’s connection to the infamous Silk Road. He had stated:
“Adoption didn’t happen because of Silk Road. If you looked at other centralized coins that happened in the 90s and things like this within the first three years, you actually had banks starting to use them; Deutsche Bank was using DigiCash, others were using it. So Silk Road actually killed adoption in Bitcoin. Right now, we would be in a world with probably 500 million people using Bitcoin at least on a daily basis if it wasn’t for Silk Road.”
Ver, on the ABC side had stated:
“Even when the big blockers wound up having basically the majority of the hash rate – they had more than 50% at one point – they were still scared to set a flag date… Like, okay here’s the date we’re gonna mine the bigger block. And because they were all scared to actually take action we wound up where we are.”
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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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