The Bitcoin Cash civil war wages on: Faketoshi v CoinEx

01 Sep, 2018
by Will Heasman
The Bitcoin Cash civil war wages on: Faketoshi v CoinEx

Craig Smith AKA Faketoshi called out CoinEx as a fraud after the exchange released a statement regarding Satoshi’s Vision ‘upgrades’.

For those of those of you not clued up on the latest Bitcoin Cash dramas, the recent 'upgrades' (dubbed Satoshi’s vision or SV) suggested by n-Chain and its Chief Scientist Faketosh… sorry, Craig Smith, are said to be unstable as they don’t have replay protection enabled. A mechanism which protects against replay attacks after a hard fork.

CoinEx moved to address these issues via an announcement stating that SV implementations would cause a fork due to its “incompatibility with Bitcoin Cash” even going as far as to give the ‘new token’ a ticker (BSV). The exchange went on to speak of the lack of replay protection:

“lacks the replay protection mechanism, which will bring chaos to the entire Bitcoin Cash network, causing unnecessary asset loss for users.”.

However, Craig Smith virulently denied any such fork occurring, going as far as to call CoinEx a fraud:

Some agreed with him:

and others sided with CoinEx:

This comes after post by a PascalCoin developer picked up traction on Reddit for calling out so-called 'Satoshi's vision' upgrades proposed by Smith. In the post, the developer divulges many complications which could occur following a potential implementation. While there was no mention of replay protection the Developer mentioned concerns relating to an increase in blocksize which could create unwanted centralization.

Read more: The BCH Summit: Vitalik comes “uninvited” and C. Wright leaves after 1h"Bitcoin Cash may introduce fatal errors" says crypto core developerBitcoin Cash usability in commerce is waning

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