The value of both BCH and BSV are almost stabilized and the ongoing war between Bitcoin Cash factions has seemingly come to an end.
The Bitcoin ABC version of Bitcoin Cash has been designed for the cryptocurrency moving beyond money transfers to support smart contacts in a similar fashion to Ethereum. That includes a block size cap that can be adjusted to support the market. Rival Bitcoin Cash SV argues that Bitcoin Cash should be used solely as a form of stable global money with a set block size at 128 megabytes.
The split in Bitcoin Cash involved both sides alleging to be the legitimate owners of the Bitcoin Cash cryptocurrency. That Bitcoin Cash SV has now walked away from the battle, agreeing to become its own standalone cryptocurrency while allowing Bitcoin Cash ABC to simply be called Bitcoin Cash, marks the end of the battle.
The Chief Scientist at nChain and one of the top proponents of the Bitcoin SV, Craig Wright, said at the recent CoinGeek Week: “I am going to use Bitcoin ABC to fertilize my garden.”
Since the conference was held just ahead of the tenth anniversary of the first transaction on the Bitcoin blockchain, the sense of growing up and moving on to the next chapter had an extra resonance. As to what the way forward would look like, Craig Wright came on stage later that morning and captured it in his first words: “OK, it’s really, really simple: we need transaction volume.”
Since Bitcoin SV is a community ledger, Dr. Wright thinks that it is closest to the idea of the original Bitcoin(hence the name Satoshi Vision.)
“The entire concept is about having a Peer to Peer transaction system which becomes difficult when there is only a large number of transactions. Adding multiple miners into the ecosystem makes it much more competitive thereby hampering the functionalities.”
He dwells on the P2P characteristic of BSV and hence thinks that it is better than ABC. His attack on ABC, or currently just known as BCH didn’t stop there.
He further said:
“We are going to dog ABC’s tales till they run out of money. Then we are going to tail them again and see them sell again and again till they crash and burn.”