Economy

Here is Where To Trade Pre-Fork Tokens of Bitcoin Cash (BCH)

Here is Where To Trade Pre-Fork Tokens of Bitcoin Cash (BCH)

Craig Wright, who claims (without much evidence) that he is bitcoin's pseudonymous creator Satoshi Nakamoto has always been one of the leading figures of bitcoin cash, the fourth largest cryptocurrency by market cap, which famously broke off of bitcoin in the heat of the scaling debate past year. This network split will involve the implementations of Bitcoin SV and Bitcoin ABC.

Sound messy and confusing? The tweet read that Poloniex will start offering the users an option to trade two tokens: bitcoin cash SV (BCHSV) and bitcoin cash ABC (BCHABC).

You see that kind of opportunity with Bitcoin, but you don't see it with BCH, so unless you have a rather sophisticated play on Bitcoin Cash, it's probably better to wade in with BTC. If businesses keep siding on the Bitcoin ABC client, analysts believe that the network disruption may not be significant enough. Who's behind it? And what changes will it bring? Bitcoin Cash has in the past embarked on a sole recovery mission this year where it nearly touched $1,800. Bitcoin Cash developers schedule bi-annual upgrades to keep the system up-to-date.

As at now, BitMEX was the second largest cryptocurrency exchange reported globally regarding daily trading volumes.

In what will come as a bit of an anti-climax, former bitcoin cash allies, Roger Ver and Craigh Wright have had a fallout.

That said, data from cryptocurrency exchange Poloniex, operated by Goldman Sachs-backed blockchain startup Circle, indicates Bitcoin ABC may be the preferred version. Bitmain is reportedly marketing its new miners heavily at mining farms for the upcoming hard fork. For example, Bitmain supports the fork proposed by Bitcoin ABC, and Roger Ver, one of the most vocal figures in the crypto space, has made a decision to back the group around Wright.

I AM Satoshi. Have a nice life.

Regardless of the final outcome, this schism within the Bitcoin Cash community does not bode well for the platform.

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The boost in the price of Bitcoin Cash has left investors optimistic about what the future holds for the coin after the fork.

"Side with ABC, you hate bitcoin, you are my enemy", Dr. Wright wrote therein.

According to information released by Poloniex, this measure will allow users to decide which Bitcoin Cash blockchain to support.

Bitcoin (BTC) traded 0.7% lower against the dollar and now trades at $6,441.03 or 1.00000000 BTC.

While the experimental markets are relatively illiquid, the price discovery can be expected to be particularly erratic until sufficient liquidity has established.

The price surge is noteworthy because Bitcoin Cash was hovering around $425.

Of course, this is all subject to change as we move closer to the hard fork implementation. Nonetheless, they are planning to support trading for both BCHABC and BCHSV post the planned pre-fork trading on November 15.

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