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"The BCH hash war will not be decided in 1 or 2 days" - Calvin Ayre

16 Nov, 2018
by Richard Allen
News
The BCH hash war will not be decided in 1 or 2 days - Calvin Ayre

With the completion of the Bitcoin Cash hard fork on November 15, a hash war has begun between miners voting for Bitcoin SV and Bitcoin ABC. According to a statement by CoinGeek, this hash war won’t be determined in the next day or two, but more likely in the upcoming weeks.

The day following the network upgrade, Bitcoin ABC took the lead, receiving an artificial boost from temporary, “rented” hash power that had been subsidized by Roger Ver’s company Bitcoin.com, as well as ABC’s biggest supporter, Bitmain. However, Bitcoin SV is far from helpless. Craig Wright’s BCHSV has the support of CoinGeek, the largest BCH miner as well as Wright’s own nChain. The combined power of CoinGeek and nChain mean they have the resources needed to give BCHABC a run for their money.

As such, CoinGeek believe that this hash war won’t be decided within the next day or two, but likely over the next several weeks as miners vote with sustained Proof of Work.

The table below shows the portion of the BCH network's total has power:

 

Furthermore, according to estimates from BitMEX Research, Bitcoin ABC miners are making considerable daily losses, more so than SV miners. If these estimates are correct, ABC won’t be able to hold their position for long.

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