"FakeSatoshi" vs "Bitcoin Jesus"
Craig Wright, the self-proclaimed inventor of Bitcoin under the pseudonym of Satoshi Nakamoto, is ready to win a fight that will probably lead to the creation of another version of Bitcoin Cash, as he did previously in 2017.
Today a "battle" is being waged for the control of the fourth largest cryptocurrency in market capitalization, Bitcoin Cash (BCH); will take place and everything seems to indicate that Wright has everything in his favor to win, given that 70% of the miners who process the transactions that keep the network afloat are indicating that they are compatible with the version supported by Wright's allies , according to the cryptographic data tracker Coin Dance.
However, as mentioned above; The rival faction led by Roger Ver known in the crypto world as "Bitcoin Jesus" (BTC ABC), has been trying to persuade the community to join his side of the chain, encouraged by his promotional enthusiasm for the original digital currency that helped Bitcoin Cash to stand out at the time.
What is certain is that with both factions arguing and publicly insulting each other, a campaign war of networks (and hashes) to define the majority tendency and possibly with two divided chains finally undervalued causing more damage to the ecosystem than benefits, even for your own proposed tokens.
"This seems to be a personality conflict as much as a technology problem," said Lex Sokolin, global director of fintech strategy at Autonomus Research in London.
"Since the most controversial part (from a philosophical perspective) of the community was amputated in Bitcoin Cash, it should not come as a surprise that they are capable of further self-mutilation."
These statements, perhaps the most accurate so far, observing it from a purely professional perspective based on market risks; since in August of 2017 his position was similar when he divided the Bitcoin chain into Bitcoin Cash.
All this tirade, has made the exchanges are forced to take sides, as has never happened with other forks. Coinbase, the exchange in San Francisco said it would support the Bitcoin ABC version, while Binance, based in Malta, hinted that it would admit and handle any currency that arises. BitPay said on the other hand that it leans in favor of BTC ABC.
"The chain will be split into two, but the economy will support ABC and reject SV," which is Wright's version, said Jonathan Bier, BitMex's research chief, in a message. If the main exchanges do not give a signal, that could put pressure on its price, he said.
"SV will have a low price and the miners will leave it in a few weeks," Bier said. "That's my prediction."
Bier's point of view, may have some sensible logical type under normal market conditions, but with the growing threat of CoinGeek and Wright's allies controlling more than 70% hash power, the collapse of one of the two sides of the chain is imminent, and perhaps of the two proposed scenarios together with the ecosystem in general.
The most recent threat from Calvin Ayre to "push" all the exchanges so that they can not keep the name of Bitcoin and create "confusion in the market" seems to be paying off, judging by the current moment of Bitcoin prices. when writing this article.
It only remains to wait for the next hours and perhaps weeks to observe a definitive trend of what the crypto market will do around the pitched battle in "FakeSatoshi" and "Bitcoin Jesus".