Bitcoin Cash (BCH) Cryptocurrency Reaches $608.621507: Up 10.47% Since This Time Yesterday

What the Upcoming Bitcoin Cash Hard Fork Means for You

Poloniex Allows Pre-Fork Trading of Both Bitcoin Cash Versions

All holders of Bitcoin Cash will find themselves with an equal amount of BCH and BSV after the fork.

Bitcoin Cash (BCH), a hard fork of Bitcoin (BTC) has been in the news recently as regards its forthcoming network hard fork. The company has also stated that it is highly recommended that users should put a pause on transactions a few hours prior to the hard fork, specifically at 10 am on the day of the fork. If the new version of the protocol is backwards compatible with the old (i.e. the two versions can work together) then it is called a "soft-fork".

Coinbase also announced its support of the planned upgrade and informed its clients that it would pause deposit and withdrawals services on all BCH wallets for the hour leading up to the hard fork.

Based on the decentralized nature of cryptocurrencies forks can get very complicated very quickly due to all the different stakeholders involved.

It is important to note that it is impossible to withdraw these coins before the hard fork.

In order to trade the proposed coins - which do not yet exist on the blockchain - Poloniex users were required to convert their BCH coins to one of the fork proposals, either BCH ABC or BCH SV.

As can be seen in the chart below, BCHABC is trading at a price of $465 (priced in USDC, the exchange's dollar-pegged stablecoin), which is 4.2 times higher the BCHSV's current price of $109 USDC at time of writing.

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Craig Wright, who claims (without much evidence) that he is bitcoin's pseudonymous creator Satoshi Nakamoto has always been one of the leading figures of bitcoin cash, the fourth largest cryptocurrency by market cap, which famously broke off of bitcoin in the heat of the scaling debate past year.

Even so, with this in mind, the event risk is still prominent before the Bitcoin Cash's November fork.

Since there will be two cryptocurrencies, Bitcoin Cash (BCH) and Bitcoin SV (BCHSV), we know that there is controversy in the developer community.

"I support ABC because I think it has a better team, I think it has people who are easier to get along with, I think it has people who are more competent in general", Ver said. He is also the CEO of Bitcoin.com a site which provides a bitcoin wallet as well as promotes bitcoin cash (BCH) as being superior to bitcoin (BTC).

"It's never easy to admit that you've been fooled, but maybe I've been fooled", Ver said while sharing a screenshot of an email that Wright had allegedly sent him after he publicly backed BCH development group Bitcoin ABC - not Wright's SV - in the debate over the impending BCH hard fork".

Ver responded that Craig lacks the knowledge to back the claim that he is Satoshi. Poloniex, a popular crypto exchange has shown support for the network by listing the network's pre-hard fork tokens- BCHABC and BCHSV. The BTC/USD contracts were settled using Bitcoin's price at the time and did not include the value of Bitcoin Cash. Will you?Side with ABC, you hate bitcoin, you are my enemy. "Please deposit in time, Huobi Global will help you with the technology issues regarding the hard fork".

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