Bitcoin Cash (BCH) Community Splits Over Craig Wright’s Intention to Fork the Coin
Craig Wright announced his intentions to bring his own version of Bitcoin Cash closer to the Bitcoin 1.0 vision, leaving the community expecting a hard fork.
“Something people fail to understand about bitcoin is it is intentionally limited in what it can do and how it can be changed. This is purposeful. Bitcoin is designed to be stable money and for that reason it is not designed to have new opcodes added outside the need for a few security-based replacements or to be altered,” stated Wright in a recentblog.
Wright expressed an opinion that fast and active changes to the code of Bitcoin Cash are not necessary. He also envisions BCH as the real Bitcoin, is supporting it for that reason, and therefore demanding a more conservative version.
Vitalik Buterin, co-founder of Ethereum, has suggested that Wright’s potential fork may be dismissed by BCH proponents:
https://twitter.com/VitalikButerin/status/1032075153788817408
Cobra, the founder of the Bitcointalk forum, has expressed some support for the conservative approach to running the Bitcoin Cash network. He has expressed dissatisfaction with Amaury Sechet, also known as @deadalnix, for rushing through changes in the code. The criticism arrives just a day after Bitcoin ABC released the code that will be mandatory and put in force after a November 15 hard fork.
https://twitter.com/CobraBitcoin/status/1031798125680381952
The Bitcoin Cash community has varying opinions on the approach and effect of Dr. Craig Wright. While some believe he is a valuable source of direction for BCH, others consider him a fraud and a liability for the project.
Some positive opinions point to Wright’s support of smart contracts on the BCH network:
https://twitter.com/BchByronbay2/status/1032133206978383872
The Bitcoin Cash network has, in the year since the fork, shown to be influenced by Bitmain, which now owns more than 1 million BCH, and is one of the most influential miners. The other center of influence is the work of the development team Bitcoin ABC.
The BCH market price remains relatively depressed, though mostly due to the general mood on the markets and low volumes. The internal conflict of the network is, for now, a flaw mostly known to the community of BCH supporters. BCH trades around $551.39, with the last week showing volatility. BCH went as far down as $515 on August 21, coming down from a short-term peak above $605 on 18 August.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.
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