Introduction
The 2018 Bitcoin Cash hard fork, splitting into Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV), was one of the most closely watched cryptocurrency events of the year. This article provides a detailed overview of the key developments and takeaways from the second week post-fork.
The End of the Hash War
Anticipated Conflict vs. Reality
- Threatened 51% Attack: Bitcoin SV proponents, led by Craig Wright, initially threatened to attack the BCHABC chain.
- Outcome: No major attacks occurred due to added hash power securing BCHABC and implementation of checkpoints by the Bitcoin ABC team.
The "Endurance Attack" Strategy
Wright later shifted tactics, proposing an endurance attack where miners would wait for BCHABC's hash power to drop before striking. For over a week, both chains sustained higher hash power than economically justified, costing miners millions.
Official Conclusion
CoinGeek, owned by Calvin Ayre, announced support for a permanent split, marking the end of the hash war. Key points:
- Bitcoin SV committed to replay protection.
- Ayre relinquished the "Bitcoin Cash" name and "BCH" ticker, adopting "BSV" instead.
- Hash power on both chains dropped significantly post-announcement.
Key Figures: Craig Wright and Calvin Ayre
Public Appearances
Both Wright and Ayre spoke at the CoinGeek Week Conference in London:
- Wright: Proposed transforming the internet via Bitcoin SV.
- Ayre: Declared Bitcoin SV as the "original Bitcoin."
Controversial Moves
- P2P Foundation Account Activity: Satoshi Nakamoto's old account posted cryptic messages, which Wright seemingly echoed on Twitter, fueling speculation.
- Unfulfilled Promises: Ayre promised to reveal market manipulation documents implicating BCHABC leaders but never did.
Business Developments
CoinGeek announced its acquisition by Squire Mining Ltd., adding a corporate twist to the saga.
Market and Community Response
Naming Conventions
The industry largely settled on:
- BCHABC: "Bitcoin Cash" (BCH).
- BCHSV: "Bitcoin SV" (BSV).
Price and Ranking Trends
- BCHABC: Traded between $150–$200, maintaining a top-5 position on CoinMarketCap.
- BCHSV: Traded lower ($75–$100) but debuted as a top-10 coin, briefly reaching #7.
Technical Hiccups
Poloniex faced withdrawal issues with both coins, resolved within days.
Celebrity Endorsement
MMA fighter Rory MacDonald tweeted support for Bitcoin SV, calling it "the real Bitcoin."
FAQs
What caused the Bitcoin Cash split?
The split resulted from disagreements over block size and technical direction, leading to a hard fork into BCHABC and BCHSV.
Was there a 51% attack?
No. Despite threats, BCHABC's defensive measures (extra hash power, checkpoints) prevented attacks.
Which coin "won"?
BCHABC retained broader adoption and higher value, but both chains continue independently.
Where can I trade these coins?
Most major exchanges list both, though tickers vary (e.g., BCH vs. BSV).
Conclusion
The Bitcoin Cash hash war ended not with a bang but a whimper, as both chains stabilized and carved out their niches. While BCHABC holds an edge in adoption and price, Bitcoin SV's community remains vocal. The saga underscores the volatility and ideological divides shaping cryptocurrency evolution.
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For deeper context, read our earlier coverage: When the Fork Forks.
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### Notes:
- Removed promotional links and sensitive claims (e.g., unverified Satoshi identity references).