As expected, the hard fork of Bitcoin Cash, an event made unavoidable by a group's proposed change, Bitcoin Cash ABC (BCH ABC), led by the developer Amaury Sechet.
According to which the token development plan was to be funded by a 8% tax on mining. The plan, known as Infrastructure Funding Plan (IFP), was opposed by Bitcoin Cash Node (BCHN), with the subsequent division of the chain.
Roger Ver versus Amaury Sechet
In the debate that preceded the fork, the voice of Roger Ver, considered something of a libertarian prophet in the crypto industry. Who also confirmed on this occasion his ideological references, branding Amaury Sechet as a Soviet planner of the 50s.
According to him, in fact, since it is an open source protocol, developers should not be paid through a part of the proceeds of mining, but seek other sources of financing. Also adding that the token working group would also have too much money. Precisely for this reason he would have taken too many directions, often very different. A rather strange thesis, the latter, in the light of logic.
Chris Troutner's thesis
In the dispute between the two sides, he also intervened Chris Troutner, a developer who previously worked at Bitcoin.com by Roger Ver and is close to the BCH ABC group.
In his opinion, the real problem in the dispute is the real ideological fury towards Amaury Sechet. Troutner's opinion is that the opponents of BCH ABC want to provoke their exit, nothing else. To prove this would be the fact that Sechet would never have changed his mind on how to finance the Bitcoin Cash project.
Bitcoin Cash: What Could Happen Now?
Once the fork has occurred, observers are now wondering about what could happen. According to many of them, the outcome of the affair is quite obvious. In the match between the two sides, Bitcoin Cash Node should prevail (BCHN), also in light of what is happening in these hours.
82 new blocks have already been mined, but only 6 of them on the BCH ABC chain. At the moment it is therefore already clear that the main chain is that of BCHN, consequently destined to keep the name and symbol of Bitcoin Cash (BCH).
While there are strong doubts about the survival of the Bitcoin ABC chain, which includes a "Coinbase Rule" intended to automatically reverse 8% of the tokens mined in favor of the development of the protocol. A tax clearly unwelcome.
The role of exchanges
The players are also playing a role in the story exchange. Who have long ago expressed their favor to Roger Ver's group. Starting from Creak, who in a November 6 post, claimed that will support BCHN, regardless of the outcome of the fork. A very clear position which has been followed by other trading platforms.
An orientation which seems destined to strengthen in the next few hours, especially in light of the price of the two tokens at the moment. BCH, the token of the BCHN chain, while recording a slight loss, is still around dollars 250. While Bitcoin Cash ABC, the competitor coin, literally collapsed, settling at just $ 12. An effect of the ostracism decreed by most of the miners, who had already announced their decision not to support him.