Bitmain’s billionaire co-founder Jihan Wu may sell over 1 million Bitcoin Cash SV (BCHSV), following the successful completion of a scheduled Bitcoin Cash hard fork on Nov. 15.
I am wondering when I can deposit my BSV token into exchange to sell.
— Jihan Wu (@JihanWu) November 17, 2018
A contentious hard fork of Bitcoin Cash was triggered by a camp led by Craig Wright, Coingeek, and Calvin Ayre, which mined an invalid block almost immediately after the hard fork was completed by Bitcoin Cash ABC, the original blockchain of BCH.
As of Nov. 19, Bitcoin Cash ABC remains 42.7 percent ahead of BCHSV on proof of work and nine blocks ahead. The majority of BCH blocks are being mined by Bitcoin.com, BTC.TOP, and ViaBTC, without the intervention of Bitmain.
Clean Win For BCH
With major exchanges like Coinbase and Kraken in support of the original BCH roadmap set forth by bitcoincash.org, and the supposed “stress test” threatened by Craig Wright after the hard fork amounting to a non-event, BCH has secured a clean win over BCHSV in the hash power war.
Prior to the fork, Craig Wright threatened to sue developers and miners in support of BCH and at one point claimed he will rearrange the blockchain of BCH to double spend transactions.
On Twitter Wright said;
I will ensure that ANY miner passing DSV can be held liable (under the law of the UK, China and US, they can be)
The end will be a drop in value for those using DSV
And, I will help ensure those who lose claim against this act.
— Dr Craig S Wright (@ProfFaustus) November 8, 2018
Ultimately, no developer or miner was sued, the hash war came to an end within 30 minutes in favor of BCH, and the stress test threatened by CSW turned out to be false. The last resort plan of the SV camp, to 51 percent attack the BCH network with overwhelming hash-power, was also stopped by the BCH community through the integration of checkpoints.
On Nov. 16, the BCH developer community integrate a checkpoint in every block mined after the hard fork to prevent blockchain reorganization, as a response to the 51 percent attack threat by SV.
A decisive opening battle has been won by the defenders of Bitcoin Cash in Craig Wright’s war to hostile takeover the chain,” Yours.org developer Chris Pacia wrote, adding, “A checkpoint is a line added to the code that prevents the software from reorganizing the blockchain below the checkpointed block. In the event that an attacker (such as Craig Wright) were to try to 51% attack and wipe out all blocks and transactions that happened on Bitcoin Cash over the past day, the software will not let him do it.