The Bitcoin Cash war has been brutal to both Bitcoin Cash ABC and Bitcoin Cash SV, as well as the cryptocurrency market as a whole (or so some people are speculating).
Bitcoin has lost over 20% of its value from before last week’s Bitcoin Cash hard fork, and both BCHABC and BCHSV miners have lost millions of dollars in gross revenue due to the high cost of mining and low price of BCH. The war has not been pleasant for anyone.
However, it’s been a week since the fork, and BCHABC appears to be winning the hash rate war by mining more blocks and having a longer chain than that of BCHSV. As well, BCHABC appears to be winning the support of influential community members and cryptocurrency enthusiasts alike.
As we all know, Roger Ver and his massive following support BCHABC, but other influential people do as well. John McAfee, the infamous crypto influencer and cyber security expert, declared his unending support for cofounder of Bitmain Jihan Wu, which is the largest mining pool supporting BCHABC.
Those who stand against Jihan Wu are a idiots who don't see the realities of the playing field. Please, get real. I will not let my ego destroy me by making me think I could challenge the only real power in this space. My email to him should make it clear to anyone where I stand. pic.twitter.com/WJBJyzaEAy
— John McAfee (@officialmcafee) November 15, 2018
In addition to winning over influential individuals and crypto enthusiasts, BCHABC is also winning over exchanges. A wide array of big exchanges have already unlocked Bitcoin Cash accounts and transitioned tokens into BCHABC. Some exchanges have even maintained the same BCH name for BCHABC tokens.
CoinMarketCap has listed BCHABC as BCH, making it the 4th-largest cryptocurrency in terms of market capitalization. At the time of writing, BCHABC or BCH (the official name to be used is still unclear) is trading at $208. On the other hand, BCHSV is trading at $51 and continues to lose value on a daily basis.
Therefore, it is becoming clearer who the winner is, and we will soon be able to put all of this Bitcoin Cash drama behind us. After all, there’s a bright future out there in terms of building and development, and there are far more important things to focus on than the negative and destructive implications of a war.
