Bitcoin Cash (BCH), Cryptocurrency, Hard ForksHash Wars. Hard forks. The legacy of Satoshi. The list of complications and headaches for the cryptocurrency industry continues to rise for the fourth largest cryptocurrency. Since coming out of Bitcoin Core (BTC) in August 2017, BCH has been on the verge of provoking a series of controversies.
In December 2017, the currency became the focal point for the accusations of insider trading when the BCH / USD pairing was added to Coinbase, bringing the price to fluctuate wildly over several days.
Roger Ver, a longtime figure in the cryptocurrency industry and one of the BCH nominees, has continuously stimulated the contention between BTC and BCH supporters, claiming that Bitcoin Cash is the most legitimate of the two and promotes its agenda through popular portfolio cryptographic Blockchain.info as well as detecting the Bitcoin.com website.
Now, Bitcoin Cash has again been at the center of a controversy underway for crypts, as the ramifications of "hash war"The fact of undertaking the recent BCH crossroads continues to have broad implications for the industry." Initially, the price rallies that led to the BCH junction of 15 November seemed to be a win for the industry, as the currency price increased by more than 20 percent with the anticipation of investors on the issuance of new coins.The rest of the market capitalization also saw the green with the renewed interest in the encryption of investments, with the XRP which opened the way in terms of earnings and surpassed the long standing position of Ethereum as a second currency.
However, the fallouts in the assessment because the fork has been devastating for both investors and the image of the cryptocurrency. While some analysts have seen the advantage of Bitcoin Cash attracting investment dollars and interest in the cryptocurrency space, others have complained about the effects of continued controversial difficult forks, particularly one with the vitriol surrounding the BCH division.
Craig Wright, who went so far as to claim to be the original Satoshi Nakamoto behind Bitcoin, threw his weight behind Bitcoin SV while simultaneously denouncing the other half of the fork, Bitcoin ABC. Supporters of Bitcoin ABC are essentially doing the same in retaliation, creating the predictable result of a community and an investment base that is rapidly losing trust and confidence in the asset class.
Because Bitcoin, Bitcoin Cash, and nearly all the altcoins have fallen precipitously during 2018, the lack of patience for the most upset stomach investors is becoming evident, and it is no longer clear of the outburst of capital following the BCH fork. Investors pumped the price of the currency in the week before the split, hoping to capitalize both the price appreciated by anticipation and to receive free coins after the fork. However, the house of cards collapsed a day earlier, as investors rushed to sell faster than the next and capitalized on earnings driven solely by speculation.
BCH did not create value for support or recognition for its use as a currency or the benefits of the fork. Instead for the coin it was built on piles of greed and the tiresome model of forks leading to price pumps and subsequent falls. The strong backlash in the valuation, for the entire sector, is revealing both the weariness of investors and the general disgust for how the pricing of space has been managed, a feature that no longer seems to correlate with any legitimacy and is instead entirely driven by the speculative forces of the market. .