Bitcoin Cash (BCH) is approaching its contentious hard fork upgrade, with two rival factions—Bitcoin ABC and Bitcoin SV—vying for dominance. This divide has forced Taiwanese cryptocurrency exchanges like MAX and BitoPro to declare their positions ahead of the November 16 deadline.
Key Developments in the BCH Hard Fork
The Competing Factions
- Bitcoin ABC: Backed by Bitmain and Roger Ver, this faction advocates for gradual protocol upgrades.
- Bitcoin SV: Led by Craig Wright (nChain), this camp pushes for a restoration of Bitcoin’s original protocol, potentially creating a new fork token (BSV).
Taiwanese Exchanges’ Stance
MAX Exchange
- Supports: Bitcoin ABC
- Rejects: Bitcoin SV due to "security concerns"
- Users must move BCH to other platforms to claim BSV tokens.
MAX’s official statement:
"We will not support the Bitcoin SV chain, which lacks replay protection and could destabilize the network."BitoPro Exchange
- Supports: Both ABC and SV chains
- Users holding BCH on BitoPro will automatically receive BSV tokens post-fork.
Risks and Uncertainties
- Hash War: Bitcoin SV currently leads with 66–77% of BCH mining hash power, but trader sentiment favors ABC (393 USD vs. SV’s 107 USD on Poloniex).
- 51% Attack Threat: Craig Wright hinted at potential attacks against ABC post-fork.
- No Replay Protection: Parallel chains may cause transactional chaos.
FAQs About the BCH Hard Fork
Q1: Will I get free BSV tokens if I hold BCH?
A: Only if your exchange/wallet supports Bitcoin SV. Check with your provider.
Q2: Why does MAX reject Bitcoin SV?
A: MAX cites SV’s lack of consensus-building and security risks from omitted replay protection.
Q3: When will BCH trading resume post-fork?
A: Exchanges like BitoPro will pause BCH transactions on November 15 and resume once the network stabilizes.
👉 Explore secure BCH trading strategies
👉 Track real-time hash rate data
Disclaimer: The BCH hard fork remains highly volatile—investors should exercise caution.
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