Almost two weeks after the chain split, it seems the Bitcoin Cash hash war is dying down. Most exchanges have distributed the forked coins, trading volume is increasing across the board, and CoinGeek will be starting their Bitcoin SV-focused conference soon. As a sign of confidence in the chain split, Bitcoin Cash SV (BCHSV) has seen its price surge.
Over the 24-hour period from 8:00 AM on November 25 to 8:00 AM November 26 (2018), BCHSV climbed from a low of $65.36 to a high of $122.55, for a total climb of 87.5%. It has since stablized around $95. In the same time, Bitcoin (BTC) saw a small growth of 5%, but BCHSV greatly out-performed BTC. Bitcoin Cash SV is now tradeable on Binance, Poloniex, and Bittrex, but not Coinbase.
In fact the recent price rise has made BCHSV more profitable than BCHABC or Bitcoin as at press time:Source: Coin.dance
Time For White Flags?
As time goes on since the start of the “hash war,” comments from both sides seem to suggest that both BCHABC and BCHSV are tiring of attacking one another, and will instead focus on improving their own respective blockchains.
Calvin Ayre, de-facto leader of BCHSV and owner of the CoinGeek publication, tells us that: “I am confident that CoinGeek can enforce civility if the other side wants this in any permanent split.”
In an article titled, “Original Bitcoin will live on as Bitcoin SV (BSV)” on CoinGeek, Ayre explains: “permanently splitting the chains by ABC enacting replay protection will give both sides a WIN. Bitcoin will live on with Bitcoin SV and will finally have a chance to show off the true power of the original economic model.” These comments hint that any animosity will hint and that development on each chain will continue independently.
In an exclusive interview with CryptoGlobe, Bitcoin SV supporter Craig Wright made the bold claim that “In under 2 years, [the Bitcoin SV developers] will handle 1000x more [transactions] than all “Blockchains”, Paypal, and others combined. The aim for two years is [for the network to process] 1 to 2 million (transactions per second (TPS).”
Craig Wright also hinted that there will be new developments announced at this week’s CoinGeek Conference:
On Friday at Coingeek week, I will be announcing a game changing new tech we have for SV.
Bitcoin as it was originally intended
And, only SV pic.twitter.com/AAaZIXqOS1
— Dr Craig S Wright (@ProfFaustus) November 25, 2018
Between these two comments from Craig Wright, it seems the focus has shifted from attacking the other chain back to developing their own. It’s not clear whether or not BCHSV will live up to these bold expectations, but the market is responding positively to the news around BCHSV.