Craig Wright Says This is Just the Beginning of the Hash War Marathon
Craig Wright, the self-proclaimed “Satoshi” has yet again threatened the Bitcoin Cash ABC client. He says that this is just the beginning of the Hash war that could go on for months not concluded in one of two days.
The Bitcoin SV (Satoshi’s Vision) had the majority (over 70%) of the hashrate until the point of the network split after which the Bitcoin ABC client took the lead in terms of hashrate and is currently 30 Blocks ahead.
At this point in time, it is obvious that Bitcoin ABC is ahead in hashrate, node support, and community, Although Craig is of the opinion that this is all temporary caused by the borrowed Hashrate from Bitcoin (BTC).
Craig Wright Tweeted:
In our hash competition, we have seen the ABC team bring on their strongest sprinters. We are just at the trials and not yet on the finals to Marathon and they have made a remarkable burst to do a 9.9 second 100m (unfortunately in the wrong direction)
— Dr Craig S Wright (@ProfFaustus) November 16, 2018
A majority of the hash power for Bitcoin ABC comes from Bitcoin.com which is backed by Roger Ver and supported by Bitmain’s Jihan Wu who had said that he will go to any extent to protect the Bitcoin Cash network.
According to CoinGeek’s article, a majority of this Hash power is “rented” subsidized by Roger’s Bitcoin.com and Jihan Wu who have moved customer hashrate from BTC to boost ABC. The article says this will not last long as it is not profitable, the miners will leave the network when not subsidized and it will be hard for Jihan to keep this up as he has shareholders to whom he is accountable.
Whereas CoinGeek and nChain are in full support of Bitcoin SV and have claimed not to back down at any cost.
Calvin Ayre, the owner of CoinGeek said:
“It is ridiculous to count transient, rented hash which comes onto BCH artificially for short bursts of time because it is subsidized to do so, but then disappears and does not really sustain Proof of Work on the network”
He also added:
“we were offered thousands and thousands of petahash to rent for this battle. While we can afford to pay for more rented hash than Bitmain can, we decided to set a better precedent for Bitcoin and fight with honest hash invested to support BCH long term.”
Bitcoin ABC ahead of Bitcoin SV
Bitcoin ABC is 30 Blocks ahead of Bitcoin SV at the time of writing. The two chains are functioning peacefully without any interference or 51% attacks so far.
Bitcoin SV barely has any nodes running whereas Bitcoin ABC has over 74% of the nodes supporting. We will see in action whether a fork can succeed with only miners and without the node support.
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