What You Should Know About BitcoinCash Next Hard Fork

By Lorenzo Giovannini | Tech update | 11 Nov 2020


At about 12:00 PM UTC of November 15th 2020 an hard fork will take place on the Bitcoin Cash blockchain.

 

A routine update opened a war field. The cause of discussion is the controversial impementation of the BCHA (Bitcoin Cash ABC), which imposes a 8% fee on the remuneration for block mined by miner, paid to developers. BCHN (Bitcoin Cash Node), another BCH node, will instead not support the new block fee.

 

Obviously the BCHA node did not have any success at all. Less than 1% of miners will use it. Why should you pay a fee when you can avoid it?

 

INTENTIONS OF DEVELOPERS

 

I think the idea behind this fork was to let Bitcoin Cash already mined be more valuable, just because less of them available means scarsity, i. e. higher price.

 

That intention of developers was misunderstood or seen just as a greedy move (thing not false at all), so things will stay like they are. Or will it not be so easy?

 

BITCOIN CASH LOSES GROUND VS BITCOIN

 

Consequences on price do not look so bad at a first glance:

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But, considering the bullish period for the whole market, we should look at it in comparision with Bitcoin price, and result is a bit different:

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CONCLUSIONS

 

iscordy never gives good advices, and the developers could just retire this proposal before effective to avoid worst consequences on the Bitcoin Cash market. Will they listen to the cry of their community?

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