Battle for Bitcoin Cash Name Ends as BCH SV Backer Calls for ‘Permanent Split’
Major Bitcoin Cash SV supporter has declared that the new coin will continue independently from Bitcoin Cash.
Posted on Ayre’s own crypto media outlet CoinGeek, the statement claims that Bitcoin Cash SV will continue to exist independently from Bitcoin Cash (BCH), and that the coin is in fact the “original” Bitcoin (BTC):
“Bitcoin SV is the original Bitcoin not the original Bitcoin Cash.”
The author also accuses supporters of both Bitcoin, which he refers to as “Segwit BTC” in the article, and Bitcoin Cash of having “tinkered it [Bitcoin] to death.” Namely, according to Ayre, Bitcoin and BCH ABC – which now has regained the title of Bitcoin Cash – have “abandoned Bitcoin’s core principles by abandoning Nakamoto consensus and trust in miners’ Proof of Work.”
Ayre concludes by saying that he hopes that moving forward as a separate coin “can be the end of this episode” and that he has instructed his team to “start working with everyone” to release Bitcoin SV as an independent coin from Bitcoin Cash.
The recent hard fork, or update, of the Bitcoin Cash network divided the community into two main factions, those who support Bitcoin Cash SV and those who support Bitcoin Cash ABC, which seek to update the network in different ways. A third, so-called “neutral” camp, dubbed Bitcoin Unlimited, was also formed.
Bitcoin Cash ABC was since last week reportedly able to outperform Bitcoin SV in terms of hashrate, winning itself the right to keep the Bitcoin Cash brand name. As the dust settles post fork, crypto wallets and exchanges are announcing their support for, as well as warnings around, the competing coins, after many had temporarily suspended BCH trading and withdrawals.
Just yesterday, Nov. 23, major hardware wallet Ledger announced that it had resumed BCH trading “in the form of” BCH ABC.
Bitcoin Cash is currently down less than 1 percent over the past 24 hours to press time. The coin has suffered almost 55 percent losses in price since the hard fork took place Nov. 15.