On November 15, the hardfork was activated in the Bitcoin Cash network, with the split occurring after the fork. Despite the efforts of Craig “False Satoshi” Wright, the BCHSV token supported by him loses price battle to its competitor BCHABC token.

Battle of Giants

On block #556767, mined on November 15, at about 18.00 UTC, the Bitcoin Cash network split into two competing blockchains: Bitcoin ABC, whose protocol was developed by Amaury Sechet and supported by Roger Ver and Jihan Wu, and Bitcoin SV, supported by Craig Wright and not compatible with previous Bitcoin ABC protocols.

If Bitcoin SV achieved support of more than 70% of computing power, according to Coin.Dance, then this version is not so popular among the BCH nodes. Only 8% of them chose to upgrade to the Bitcoin SV protocol. The majority of BCH nodes, or about 74%, preferred the traditional Bitcoin ABC version or to the Bitcoin Unlimited protocol, which acts as a kind of compromise option, including features of both Bitcoin ABC and Bitcoin SV. Most services and companies also stated that they consider Bitcoin ABC as a legal successor of Bitcoin Cash, and in case of the split, they would attribute the ticker BCH to the BCHABC tokens.

Considering that the main advantage of the Bitcoin SV team is the majority share of computing power, Bitcoin ABC supporters rushed to switch their miners to BCH mining. Thus, the Roger Ver's mining pool Bitcoin.com switched 4EH/s to mine Bitcoin ABC.

Commenting on Ver's decision, Wright tweeted that the clients of Ver's pool were losing money.

 

The market chooses Bitcoin ABC

Earlier, many cryptocurrency exchanges announced plans to support both competing blockchains. According to traders reaction, the Craig Wright's project did not enlist broad community support. On Poloniex, the BCHSV token is four times cheaper than BCHABC.

The rate of BCH ABC fluctuates around $315, while the price of BCHSV remains at $82.