Jihan Wu, the Bitmain billionaire cofounder might sell more than a million BCHSV after the successful BCH hard fork on November 15. The BCH hard fork came about after Craig Wright, Calvin Ayre, Coingeek and their followers mined an invalid block after the fork. The mining occurred on the BCHABC network, which is the original BCH network.
By November 19, NCHABC was 42.7 percent ahead of BCHSV on proof of work. It was also about nine blocks ahead. Most of the block mining is taking place on ViaBTC, BTC.TOP, and Bitcoin.com. Thus far, Bitmain has not intervened in any way.
A Win For BCH
Major exchanges such as Kraken and Coinbase have continued to support the roadmap set forth by bitcoincash.org for BCH. Besides that, Craig White did a stress network on BCH after the fork. However, there was no major incident. The result is that BCH has scored a major victory in the hash power war with BCHSV.
The Lawsuit
Before the fork, Craig White had said he would sue miners and developers that support BCH. He even claimed that he might rearrange the BCH network and lead to a doubling of the transaction speeds.
In the end, Craig White did not sue anyone. The hash war was over in 30 minutes after it began with BCH winning. Even the stress test did not go anywhere. Besides that, the attempt by the SV cap to hit the BCH network with a 51 percent attack also failed miserably. The community managed to do this by interrogating checkpoints.
The Checkpoints Safety Measures
BCH developers integrated a checkpoint into each block that was mined after the hard fork. This made it impossible to reorganize the network. It was done in response to a 51 percent attack that was threatened by SV.
According to Chris Pacia, a developer at Yours.org, the decisive first battle was a clear win for the BCH. The checkpoint was basically a line of code that prevented the network from reorganizing below the block that had been checkpointed. In case a 51% attack was tried, the checkpoint would stop it.
However, Jiang Zhuoer, the BTC.TOP CEO said it was obvious from the start that SV would not win the war. The reason for this was that Bitmain had 20 exahash as a backup for the prevention of the BCHSV attack. This is more power than Calvin Ayre and Coingeek own.
It Is Time For BCH
The CEO of Bitcoin.com said that BCH may have won the war but it led to a negative outcome for the BCHSV and BCH. He was of the opinion that no one won the war; some just lost less than others did.
From now, the faith of BCHSV and BCH will depend on the market players. If major holders of the BCHSV continue their current effort to sell of their coins, this could cause a major downturn in BCHSV prices for the short term. Most of them are actually BCH supporters.
