Jihan Wu could sell 1 million Bitcoin Cash SV, triggering carnage

The co-founder of Bitmain billionaire, Jihan Wu, could sell more than a million Bitcoin Cash SV (BCHSV), as a result of the successful completion of a Bitcoin Cash project hard fork November 15th.

I wonder when I can deposit my BSV token in exchange to sell it.

– Jihan Wu (@JihanWu) November 17, 2018

Litigation hard fork of Bitcoin Cash was triggered by a camp led by Craig Wright, Coingeek and Calvin Ayre, who exploited an invalid block almost immediately after the hard fork has been completed by Bitcoin Cash ABC, the original BCH blockchain.

As of November 19th, Bitcoin Cash ABC keeps a 42.7% advance on BCHSV proof of work and nine blocks ahead. The majority of BCH blocks are operated by Bitcoin.com, BTC.TOP and ViaBTC, without the intervention of Bitmain.

Clean Win for BCH

With important exchanges like Coinbase and Kraken in support of the original BCH roadmap set by bitcoincash.org, and the so-called "resistance test" threatened by Craig Wright after the hard fork BCH got a clear victory over the BCHSV in the hash power war.

Before starting, Craig Wright had threatened to sue developers and miners to support BCH and had declared at one point wanting to reorganize the BCH blockchain in order to double its dealings.

On Twitter Wright m said:

I will ensure that ANY minor passing through DSV can be held responsible (under the laws of the United Kingdom, China and the United States, they may be)

The end will be a drop in value for those who use DSV

And, I will help insure those who lose claim against this act.

– Dr. Craig S Wright (@ProfFaustus) November 8, 2018

In the end, no developer or miner was sued, the hash war ended in 30 minutes in favor of BCH, and the resistance test threatened by CSW was revealed wrong. The 51% SV camp's last resort plan to attack the BCH with huge hash power was also stopped by the BCH community through the integration of checkpoints.

On November 16th, the BCH developer community integrated a checkpoint into each block extracted after the hard fork to prevent the reorganization of the block chain, in response to the 51% attack threat by SV.

"The Bitcoin Cash defenders won a decisive opening battle in Craig Wright's fight against a hostile chain of control," writes Chris Pacia, developer of Yours.org, adding, "A checkpoint is a line added to code that prevents the software from rearranging the blockchain under the checkpoint block. In case an attacker (such as Craig Wright) tries to 51% attack and eliminate all deadlocks and transactions on Bitcoin Cash in the past day, the software will not let it. "

But, as Jiang Zhuoer, CEO of BTC.TOP, said, the SV camp would never win a hash power battle with Bitcoin Cash, as Bitmain had 20 exahash available throughout the period to defend the BCH chain against the attacked. That is more than four times larger than the hash power possessed by Coingeek and Calvin Ayre.

It's BCH's turn

BCH won the battle, but the conflict had a negative result for BCH and BCHSV. Roger Ver, the CEO of Bitcoin.com, recently declared"Nobody wins a war. Some lose less than others.

From that moment, the trust of BCHSV and BCH depends on the market. If the big holders of BCHSV, who are ironically supporters of BCH, continue to sell large amounts of BCHSV on the market, the asset could suffer considerably in the short term.