The Escalation: Bitcoins First Hard Fork

By mid-2017, the fronts had hardened to such an extent that no agreement was in sight. The SegWit site had been retrofitted with the UASF (User Activated Soft Fork). Here, the full nodes in the Bitcoin network signaled that they would only support SegWit after August 1, 2017. As a result, the Ver and Wu camp took the helm into their own hands and decided on a hard fork. On August 1, 2017, the two sides parted ways. Bitcoin (BTC) activated SegWit and Bitcoin Cash (BCH) decided not to use SegWit, but increased the block size to eight megabytes.

Since then, little has changed technologically at Bitcoin (BTC). SegWit is active and allows new address formats and the Lightning Network. The block size was abolished, but now there is a block weight. This is around four megabytes. Effectively the space on the blockchain has been increased, but primarily the Transaction Malleability has been fixed. So the BTC community decided for the conservative way of the Soft Fork.

The Bitcoin formula split

Bitcoin formula went the way of larger blocks and the less conservative way of hard forks says onlinebetrug. It was agreed within the BCH community to carry out a hard fork twice a year. In May 2018, this plan was applied for the first time. The block size in BCH found its new limit now at 32 megabytes. In addition, some OP codes were reactivated for the protocol. The hard fork went smoothly, the conflict seemed to be solved…

… until August 2018 arrived. The specifications for the next Hard Fork, in November 2018, caused great controversy within the BCH community. As in the previous year, two camps were formed. On the one side were Roger Ver and Jihan Wu with their ABC protocol. On the other side was Craig Wright aka “Satoshi Nakamoto” and Coingeek CEO and billionaire Calvin Ayre with Satoshi Vision (SV). In the following months a lot of mud flew from both sides – especially from the Wrights. A civil war was on its way.

When November 15, the day of the hard fork, came, the Bitcoin trader network split again

At first, Faketoshi said they didn’t want a split. Instead, they threatened a 51 percent attack and wanted to wipe out the ABC chain. This Bitcoin trader battle went down as the Bitcoin trader scam in the still young history of the crypto currency. The end result was a chainsplit. So today there are two different coins. One is called Bitcoin Cash (which is the ABC faction). The other coin follows the vision of Craig, pardon, Satoshi and is therefore also called Bitcoin SV (Satoshi Vision).