Today's Hot Topics

Bitcoin Cash Hash War Sends XRP Into Second Place

 
Bitcoin Cash Hash War Sends XRP Into Second Place
Breaking News / Bitcoin / Bitcoin Cash

The American computer scientist and one of the minds behind the creation of Bitcoin, Craig Wright has said that he is prepared to take on Bitcoin to bring it on down to one thousand dollars if that’s what it takes for it to win the Bitcoin Cash hash war.

The alleged part creator of Bitcoin and the chief scientist at the blockchain development firm nChain, which is estimated to own millions in Bitcoin is working with Calvin Ayre of Bitcoin Cash mining pool CoinGeek in order to make sure their fork of Bitcoin Cash is successful over the fork of Bitmain-supported by the Bitcoin Cash development team, Bitcoin ABC.

On top of all of this Ripple seems to be making the best of everything since they have overtaken Ethereum in terms of market cap which has made it the second biggest cryptocurrency in the world at the time of writing.

The CEO of Bitcoin.com and an avid supporter of the Bitcoin ABC fork, Roger Ver doesn't have much faith in Wright’s SV (Satoshi’s Vision) fork. He has put the odds of Wright’s team winning the hash war at 10:1 against. The head of research at the cryptocurrency exchange massive BitMEX, Jonathan Bier had similar thoughts which he said in statements in a recent interview.

“The chain will split in two, but the economy will support ABC and reject SV (Satoshi’s Vision). SV will have a low price and miners will leave it in a few weeks. That is my prediction.”

As reported by Crypto Coin Spy, despite who comes out the other side victorious, the hash war has the potential to end Bitcoin Cash and take down the rest of the cryptocurrencies along with it. In today’s market, the current state has is a massive slump which could be the consequences of Wright or another Bitcoin whale selling off their Bitcoin in order to fund the hash war. Analysts have also pointed out that Bitcoin CME futures reached a trading limit yesterday which caused an avalanche of stop-loss orders going into effect.

One other theory is that is going around is that investors are cashing out ahead of time just before the Black Friday Christmas sales but this is unlikely since the percentage of small-time investors cashing out could have a big impact on the market all in one day.

What are your thoughts? Let us know what you think down below in the comments!

You can share this post!

Updates For ETH, XLM, BTC and BCH

Banning Bitcoin In India Is No Easy Task