On November 15th 2020, Bitcoin Cash will most likely experience an harkfork that will lead to a chain split, resulting to the creation of a new coin to be named Bitcoin ABC.
This is because there is an ongoing disagreement concerning mining fees between the camp of Roger Ver, a foremost Bitcoin Cash proponent and founder of Bitcoin.com, and Amaury Sechet, the chief advocate of Bitcoin ABC.
Although the camp of Roger Ver still has the popularity votes within the Bitcoin Cash network, Amaury Sechet is not likely to back down as he is determined to create a new chain where the 8% "Coinbase rule" he is proposing will be accommodated.
Free Money For The Holders Of Bitcoin Cash (BCH)
Regardless of whether you are interested in the ongoing dispute or not, the emergence of Bitcoin ABC will result to an airdrop to all the addresses holding BCH at the snapshot time of the hardfork. More specifically, each address will get the new Bitcoin ABC token in the equivalent of the amount of BCH it held at the time of the fork.
If Bitcoin ABC succeeds in getting a community around it and makes it to the exchanges, which will most likely be the case, then there will be free money for as many addresses holding BCH.
Therefore, it will not be a surprise if the price of Bitcoin Cash begins to rise steadily in the coming weeks. This is highly likely going to be the case because most people will not want to be left out of the airdrop, the free money. In this regard, it is advised that you hold your BCH in a private wallet address, so that you do not have to depend on the magnanimity of the exchanges.
It is important to note that this is not the first time that an harkfork will be resulting to the creation of a new chain and free money will come the way of the original addresses in the forked network. BCH itself is a fork of Bitcoin, an event that saw free money distributed to the holders of Bitcoin. The Craig Wright BSV is another fork of Bitcoin. Not too long ago too, Hive forked from the Steem blockchain, distributing free Hive tokens to previous Steem addresses.
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