Fork Wars: 66% of Bitcoin Cash Miners Now Backing Satoshi Vision

Fork Wars: 66% of Bitcoin Cash Miners Now Backing Satoshi Vision

Approximately 66 percent of Bitcoin Cash (BCH) miners now support the Craig Wright-backed Satoshi Vision fork, which will keep the crypto from undergoing what Wright and his supporters consider unnecessary updates to the protocol. This development is yet another sign of growing tension in the community as it tries to decide who to side with when the BCH fork starts on November 15th, 2018.

Also read: What should I do With My Bitcoin Cash to Prepare for the Hard Fork?

Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts

New Data Shows Growing Support for Satoshi Vision

According to updated data from Bitcoin statistics provider CoinDance, up to 66 percent of BCH miners will support Satoshi Vision on November 15th, with an estimated minimum of 54 percent supporting Wright.

On the Bitcoin ABC side of the fork — the camp wanting to implement updates to the protocol — CoinDance reported a maximum of 32 percent of BCH miners will support the ABC devs, with a minimum of 19 percent showing support.

Satoshi Vision

Bitcoin Unlimited (BUcash) versions 1.5 and up will follow Bitcoin ABC by default, said CoinDance, while versions 1.4 and older will not be compatible with either side of the upcoming fork.

Based on these statistics, it appears the community may end up siding with Craig Wright’s camp on November 15th, opting to block the changes proposed by ABC developers.

A Growing Schism in the Bitcoin Cash Community

BCH supporters have been up in arms since Wright — who famously declared he was one of the people who created Bitcoin — came out in opposition of Bitcoin ABC’s proposed updates. Wright and his research firm nChain launched the Satoshi Vision client in opposition to Bitcoin ABC, and said it would fork BCH by mining blocks without the ABC updates.

From there, a firestorm ensued. People who once stood proudly as Team BCH against Bitcoin Core now had to choose a side within their own community. Bitmain founder Jihan Wu publicly opposed Wright, most recently saying on Twitter, “The whole BCH community are working together to kick Fake Satoshi out.”

Even Roger Ver, previously supportive of Wright and his disdain for Bitcoin Core, decided this latest stunt was too much. On November 3rd, Ver announced his mining pool would support Bitcoin ABC in the fork.

Then, five days later, Ver published a video withdrawing his support for Wright, saying, “It’s never easy to admit that you’ve been fooled. Maybe I’ve been fooled.”

Bitcoin Cash Still Appears Cheaper than Bitcoin

BCH, in its current form, even with the ongoing fork drama, still appears to be cheaper and more efficient than Bitcoin. According to CoinDance data, it is still ten times more expensive to transact with BTC than BCH.

However, the site reported BTC remains 7.6 percent more profitable to mine than BCH.

CoinDance also reported the BTC blockchain has grown by 52.23 GB more than the BCH chain, suggesting that BTC is still in the lead because of its larger user base.

Do you support Bitcoin ABC or Satoshi Vision? Let us know in the comments section. 


Images via AP, CoinDance 

Related News