Jihan Wu of Bitmain and BCH ABC Could Be Planning to Pawn Off a Million BCHSV Forked Tokens

    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 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 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, 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 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.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Ripple, Coinbase Invested Bitso Is Hiring A Country Manager For Its Brazil Expansion

    The Mexican crypto exchange is hiring for its expansion into the Brazilian market The new position has to “create, iterate and scale crypto-powered...

    Reserve Bank of India: Crypto's Not Banned, But Ringfenced Regulated Entities Due to Risks

    In response to a petition filed by the IAMAI over RBI’s decision to not allow regulated entities like banks to deal in cryptos,...

    Crypto Bulls Definitely on Parade, Bitcoin Is Attracting ‘Very Substantial Buying Power'

    After 2019’s choppy recovery, the crypto market is now “launching what could be a far more sustainable bull market” Mid-cap cryptos showing more...

    Ripple Price Analysis: Can XRP/USD Buyers Keep The Uptrend Going?

    Ripple price is trading nicely above the $0.2300 and $0.2335 support levels. XRP to USD is likely to surge again if it clears the...

    Will Starbucks Use Crypto To Manage Its SBUX Prepaid Cards? Korean Banks Feel The Threat

    The coffee behemoth Starbucks wants to use crypto to manage their almost $1.6 billion in cash obtained through customer's use of prepaid gift cards. The...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.