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the Bitcoin Cash (BCH) blockchain today split in two (it “hard forked”). Merchants, grappling with the uncertainty of the future of the network, have pulled the price of Bitcoin Cash price down from $ 255 to $ 240, a decrease of 5% in the last 24 hours.
The hard fork follows a major disagreement between two BCH clients, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN), after BCHA proposed the Infrastructure Finance Plan (IFP), a scheme that would impose a 8% “tax” on the profits of miners and redirect funds towards network development.
The proposal remains largely unpopular among BCH users, who fear declining profits and fear hyphen the decentralized spirit of the community.
Most large companies don’t expect any downtime and report that they are ready to adapt to changes, but many, like Coinbase announced a temporary pause in BCH deposits and withdrawals.
Meanwhile, in the hours leading up to the hard fork, Bitcoin and Ethereum hit record levels of “realized” prices.
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The opinions and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.
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