Nov 24, · Bitcoin Cash (BCH) will undergo a contentious hard fork on the 15 th of November There are two rival forks proposed, Bitcoin Cash ABC (BCHABC) and Bitcoin Cash Node (BCHN), with disagreement in the community about which to support. Consequently, the outcome of the fork is uncertain. BTC Markets priority is to protect our client’s assets. By November the value of Bitcoin Cash, which had been as high as $, had fallen to around $, much of that due to people who had originally held Bitcoin selling off the Bitcoin Cash they received at the hard fork. On 20 December it reached an intraday high of $4, and then fell 88% to $ on 23 August Nov 15, · Bitcoin Cash plummeted 10% in an hour following the controversial hard fork. The fair value of the fork according to miners’ support is $ and $95, but many exchanges are refusing to support the minor chain. Traders can expect extreme volatility in both BCHN and BCHABC prices until the two chains reach stability.
Bitcoin cash fork steuerThe Looming Bitcoin Cash Hard Fork: Here’s What You Need to Know
Forks may occur: Accidentally by miners. Two miners can discover a block at the same time. Some parts of the blockchain register different information, which creates two chains. These forks can be identified and resolved quickly, so the network maintains stability. Intentionally by developers. Developers make modifications to the source code to add new features, fix issues or change the underlying rules of the network.
These changes create a new blockchain that splits from the original network. What are the possible outcomes of this hard fork? Two chains emerge. One chain remains. What are BTC Markets doing? We will keep you up to date via announcements on our social media pages and direct emails.
We strongly recommend doing your own research on both replay attacks and if these third-party wallet apps will continue to function during this time. We hope that this has clarified the situation regarding using your Ledger device for BCH during its upcoming fork. You can keep an eye on our Social Media pages for updates on this as well.
While there are definite ideological differences between the opposing camps, it is important to note that there are personal differences influencing the split as well.
We wish them good luck with their new coin and thank them for the free airdrop to all BCH holders. However, just a day earlier Ver had stated :. This sentiment encapsulates the prevailing response to the ABC announcement. Additionally, there are valid concerns over the fact that the Coinbase Rule was not a discussion rather a unilateral decision.
According to coin. The Ver-led BCHN camp has garnered the most support from miners, exchanges and the general community. Binance , Huobi , BTC. If you are holding bitcoin cash, ensure that the wallet provider you are using supports the fork. If not, transfer your funds into a non-custodial wallet where you hold the private keys. Then, you will be able to receive your forked coins.