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It's just over a month since Bitcoin Cash's fork created the Bitcoin Cash SV and Bitcoin Cash ABC implementations and is a very obvious front runner in terms of support. The publication of some of the biggest gains on an unusually green day was ABC at just over 33%.
Meanwhile, the SV project led by the increasingly megalomaniac Craig Wright managed only 13.5%. Thanks to some large gains somewhere in the market, BCH SV is now in danger of slipping into the relative darkness of a position outside the top ten crypto performers by market capitalization.
Will Bitcoin Cash SV be killed by its biggest supporter?
The Bitcoin Cash community was notoriously divided last month. Ironically, the fork was, among other things, focused on a disagreement about the size of the block in progress. Taking the position of "radically larger blocks", those who have since formed a community (if you can call it) around the vision of Bitcoin Cash Satoshi. Meanwhile, those in favor of a more measured roadmap came together under the Bitcoin Cash ABC banner.
Things went very bad at the time of the hard fork and several threats about 51% of the attacks were made through Craig Wright's controversial Twitter account. The man who in the past claimed to be the same Satoshi Nakamoto even fired shots against the more vocalist of Bitcoin Cash, Roger Ver, in a sharp and offensive e-mail.
After the split on November 14th, Bitcoin Cash ABC has progressively shown itself to be the most popular project. This was confirmed by three of the most important groups that include any cryptographic network: exchanges, miners and now users.
First, even before the split, exchanges such as Coinbase had stated that they would support the Bitcoin Cash ABC side of the chain. More recently others have followed the example, declaring the project worthy of the original BCH ticker.
Furthermore, the miners have shown where their covenants are in the only way they can – with mining. The Coin.Dance data show that the ABC fork has about 1.5 times more hashing power than the Satoshi side.
Finally, the market itself expressed its feelings about the whole debacle. On a day that saw mostly green candles across the board, ABC today enjoyed almost double the gains of its rival. Now, sitting at the number nine of Coinmarketcap, things could go seriously for Wright's project that lies on the edge of relative obscurity.
It is not clear exactly what is turning the market towards the ABC side of the fork. However, the recent news that most of the biggest names in the industry change considers the true implementation of Bitcoin Cash will certainly be daunting to support SV.
Equally harmful to the project, however, is Wright's dictatorial approach to the community itself. There is absolutely nothing on Bitcoin Cash SV that feels decentralized. From a reading of his Twitter feed, it seems a lot like either Wright & # 39; s way or the highway. Not exactly what you would expect from a network apparently without leaders ..
Related reading: BCH Fight: Bitcoin Cash Bashing warms up, Rivals Duke It Out Ahead from Hard Fork
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