Wannabe authoritarians of BCH keep up the juvenile threats – Jihan Wu’s turn now

The animosities in the former BCH community are growing into real hatred – the relationship between Craig Wright and Jihan Wu is epitome of the whole community split. They are now in the “who is the tougher guy” phase, throwing their weight around with fanciful threats.

Jihan Wu, is still the CEO of crypto mining behemoth Bitmain Technologies, has tweeted about his mulling to sell Bitcoin Cash SV holdings, which reportedly stands at around 1 million BCHSV. Bitcoin Cash SV is one of the two chains that was born out of the civil war and Bitcoin Cash hard fork, which took place on November 15.

The tweet by Jihan Wu is giving Craig Wright a taste of his own medicine. Whether Wu will actually pull the trigger and sell his BCH-SV stash, only time will tell. But, Craig Wright must understand that the path he chose to go and the weapons he choose to use can be used by others as well. Both BCH camps, though, are missing the bigger point – you can’t force people to do anything in the open market like cryptocurrencies, trust can’t be bought or coerced, it can only be earned. Juvenile threats and ego trips are definitely not the way to earn the trust and credibility.

Overall, the biggest beneficiary of the BCH disaster is the real bitcoin – BTC. Those who were mislead to believe that BCH has competent people running the ship can now see that it was all a power play by fringe personalities with deep psychological issues and lack of self-confidence and self-control. Both BCH camps have people who have authoritarian tendencies but are incompetent to take over even the small communities like BCH so they keep fragmenting into smaller, even more irrelevant camps that will eventually all crumble into dust.

In terms of proof-of-work (PoW), the BCHABC chain is well ahead of BCHSV, data from Coin Dance showed. However, as of late Sunday, both chains had achieved almost the same hashrates, with BCHABC slightly ahead.

What is the whole fuss about?

As Cointelegraph explains, the Bitcoin ABC views are opposed by the Bitcoin SV faction. Created on August 16 by the Blockchain development firm belonging to Craig Wright, who has previously declared himself Satoshi Nakamoto, the faction actively promotes the idea of radical changing the current Bitcoin Cash structure. Its split is designed to entirely overwrite the network scripts of Bitcoin ABC and increase the block size of Bitcoin Cash from 32MB to a maximum of 128MB, all of which are expected to increase network capacity and scale.

The Bitcoin ABC split campaign is based on the belief that the basic structure of Bitcoin Cash is “sound”, and “does not need any radical change”. However, improving some of the network features is necessary for its further development, according to the faction’s roadmap. Proposed upgrades include smart contract abilities, oracle services, and scaling improvements, all of which are aimed at reducing transaction costs at its core.

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Torsten Hartmann
Torsten Hartmann

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

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