Bitcoin Cash
$345.52 -10.06%
BCH · 9w

Bitcoin Cash (BCH) Internal Drama Escalates as Bitmain CEO Accuses Japanese Financial Giant SBI of Ill-Intentioned Interference

Bitcoin Cash (BCH) Internal Drama Escalates as Bitmain CEO Accuses Japanese Financial Giant SBI of Ill-Intentioned Interference Accusations fly as Bitcoin Cash (BCH) approaches a possible hard fork that could have fateful consequences for the network.

The drama inside the Bitcoin Cash (BCH) network intensifies as Jihan Wu, the CEO of Chinese crypto mining giant Bitmain, hurls accusations in the lead-up to a planned hard fork of the cryptocurrency.

A tweet by Wu last week alleged that SBI Holdings, the investment arm of Japanese financial services giant SBI Group, is “attacking” Bitcoin Cash by attempting to assist Craig Steven Wright in a coup for control of the network. Wright is a chief scientist at blockchain research and development firm nChain and a self-proclaimed key developer of Bitcoin who has even claimed to be the real Satoshi Nakamoto, the mysterious Bitcoin father. Last month, Wright unveiled his intentions to bring his own version of BCH that will be closer to the Bitcoin 1.0 vision, thus triggering hard fork speculations.

The tweet was in response to a piece penned by David Jerry that warns of doom and gloom if the Bitcoin Cash network splits following the creation of the Wormhole update.

“No such claim was made. SBI will remain neutral and support the longest chain. If a split occurs then unfortunately BCH cannot be used as a platform for real business,” Jerry replied.

Jerry’s warning revolves around the idea that a split of the BCH network would be different from the one that created it in the first place. He argues that this particular dispute could make businesses lose faith in the coin as it suffers the threat of destabilization from a lack of what he calls permanency.

The drama comes as a result of a planned fork of BCH that will allow the coin to integrate smart contracts with two new opcodes. Bitcoin ABC, the network node software, will be upgraded with all of these changes the moment the fork goes live...

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