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The war between the new networks Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision), is shaping the group led by Deadal Nix as the most dominant, after the hard bifurcation of Bitcoin Cash occurred on Thursday 15 November. The ABC division overcomes the SV in hashrate, mined blocks and the cryptographic market.
Less than 24 hours after the update of the network, the values of both groups show that ABC maintains a higher processing power at a rate of 8,334 PH / s, while SV is 5,506 PH / s. According to Coin Dance, a 58% of the Bitcoin Cash miners are supporting the ABC network, based on current ". In contrast, the SV network accumulates the other 42%. An hour after the bifurcation on Thursday, the number was 27% for ABC and 72% for Satoshi Vision.
The ABC chain (orange line) shows a higher processing power than the SV network (red line). The top for the first was 8,705 PH / s, while the second reached a peak of 5,097 PH / s. Source: Coin Dance.
Regarding the mined blocks, since 2:00 pm this Thursday, when the fork began, 170 were mined, with an advantage for the ABC of 31 blocks, at the time of writing this article. In the case of ABC, the pools that have monopolized mining are those of bitcoin.com (58), BTC.com (13), Antpool (11) and ViaBTC (8). The most relevant groups in SV are Coingeek (24), SVPool (19), Mempool (6) and BMG Pool (5).
In the commercialization of the cryptoactives of both networks, the BCHABC also exhibits a higher price. At the Poloniex exchange house, which created the markets before the fork, the cryptomeo shows a price of $ 283, while SV is exchanged for $ 103. On Thursday, the numbers were $ 327 and $ 83, respectively.
Mining and its estimates
An analysis released on Friday by BitMex put the marker on the estimated profits or losses that would be recorded by the miners on the ABC, SV and Bitcoin networks. In his Twitter account, the startup said that "while the ABC SV division is fun, we estimate that the SV miners are burning USD 280,000 per day by extracting the SV chain ".
BitMex estimates indicate that the miners of ABC and SV would be recording losses, unlike those of Bitcoin, which remain profitable. Source: BitMEX.
In the ABC network, the estimates are even more frightening. "According to our estimates, Bitcoin Cash ABC miners are suffering considerable daily losses, including larger losses than SV miners." The BitMEX figure refers, in this case, to about $ 440,000 every 24 hours. When comparing the values of the following graph, it follows that the miners of Bitcoin would be the most favored Bitcoin Cash bifurcation, with estimated profits, every 24 hours, for more than 4 million dollars. Coin Dance, meanwhile, records that it is currently 117% more profitable to hurt the Bitcoin chain.
Some people consider that Satoshi Vision still poses a threat to ABC, however, BitMEX notes that "even if the mining coalition of the SV reaches ABC or if they can reorganize hostile chains, it is very unlikely that users and investors of ABC's Bitcoin Cash change to accompany the SV.Acc users only need to be patient and wait.Calvin Ayre and the SV miners will eventually surrender. " The point is, as long as the facts follow their course, both teams are losing money.
Support proposal
After the bifurcation, the main developer of ABC, Deadal Nix, published a proposal that sought to protect the network against any potential SV attack. Nix suggested "Add a checkpoint to the bifurcation block", a kind of endorsement of the chain of blocks, which reflects that the team still deals with the possibility of being attacked by the miners of Satoshi Vision.
In general terms, the first hours of the bifurcation produced results with marked differences, with ABC dominating all aspects of the chain in relation to the competitors of the SV. All that remains is to wait and see how the events will unfold in this hash war that, far from ending, seems to be just beginning.
Featured picture of mehaniq41 / stock.adobe.com
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