Calvin Ayre, the founder of Coingeek and major supporter of the Satoshi Vision side of the BCH hardfork has suggested that the SV chain is no longer in contention for the Bitcoin Cash (BCH) name.
The billionaire entrepreneur wrote an article titled “Original Bitcoin will live on as Bitcoin SV (BSV)” where he expressed his intention to promote a new coin, Bitcoin SV which he says will embody the ideals of bitcoin founder Satoshi Nakamoto.
As Smartereum reported, several exchanges and crypto processors have adopted Bitcoin Cash ABC as the dominant Bitcoin Cash and therefore assigned the BCH ticker symbol to it. Bitcoin SV, on the other hand, has seemed the losing side in the hash war that ensued after the November 15 hardfork that split the BCH network in two. This became inevitable as ABC chain led SV for long periods in the number of post-hardfork blocks mined as well as PoW percentage.
In what seemed like a concession of defeat to the ABC side, Ayre said that a permanent split will mean a WIN for both sides as he called for the ABC side to enact replay protection.
In a report before the hardfork, Ayre suggested that he would support the development of the Bitcoin Cash ABC if it wins the hash war and becomes the dominant BCH chain. He may well renege on that promise as he stated that the Coingeek team will now focus on the development and launch of BSV.
“I have instructed my team to start working with everyone to roll out the new Bitcoin SV coin. I hope this can be the end of this episode and look forward to the CoinGeek Week Conference next week being the launch party for the return of the original Bitcoin and all that this will enable.”
BSV Is the Real Bitcoin NOT BCH?
According to Ayre, “Bitcoin SV is the original Bitcoin, not the original Bitcoin Cash.” He claimed that developers on the platform were killing the original bitcoin first by forking the “Segwit BTC”. He also accused the ABC side of abandoning the core principles of Bitcoin like the trust in miners’ Proof of Work for consensus.
The SV side had proposed changes to the Bitcoin Cash which included reinstating four Satoshi operating codes (opcodes) and an increase in maximum block size while the ABC side proposed the addition of two new opcodes amongst minimal changes to the bitcoin cash.
Ayre declared that “Bitcoin will live on with Bitcoin SV and will finally have a chance to show off the true power of the original economic model” while “ABC can join with the rest of the new chain/coin models to demonstrate what they believe they can do.”
His remarks are reminiscent of Roger Ver, a vocal and influential supporter the Bitcoin Cash [BCH] who once claimed that Bitcoin Cash was the real Bitcoin much to the annoyance of Bitcoin core proponents.
BSV will have some work to do in other to become accepted by major exchanges and payment processors. Though exchanges like Coinbase have made provision to distribute equivalent BSV (or BCHSV) tokens to BCH holders, there’s little indication that it will be listed on many major exchanges just yet. OKEx, who listed the token as BCHSV warned its users that the token did not meet its token listen requirements.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.