The Bitcoin Cash [BCH] hash war has been a topic that has been hotly followed by many of those in the cryptocurrency space for more than 3 months, but offered an extremely unsatisfying conclusion.
The clash was even more hyped up in the week leading up to the fork, with the winner being clear from the beginning: Bitmain. However, Craig “Faketoshi” Wright, who found himself on the opposite side of the war, still seems to not have accepted that Bitcoin ABC is the dominant chain.
Appearing in an interview on CNBC’s Crypto Trader segment, Wright spoke about the outcome of the hash war, quoting a strategy that he called “persistence hunting”. He stated that this was a technique where nChain would mount an “endurance attack” on the BCH ABC chain. Wright did mention that they were going to support the original chain, but not “waste a lot of money doing it”. Detailing his strategy, he stated:
“We will move mining equipment back and forwards between BTC and Bitcoin. As we’re doing that, we earn money on BTC which we then sell. [This] pays for our electricity. At any point no one knows whether we’re moving hash rate over to BTC or we’re seeking to rework the chain.”
Moreover, he stated that the removal of the hashrate from the SV chain will drive Bitmain to throw hash rate off BTC, which will cost money on the ABC side as they will burn the money they own.
While speaking about which implementation will be awarded the BCH ticker symbol, Wright stated that he would still call the SV Chain “Bitcoin”, as they were following the original whitepaper, which was allegedly written by him. He also detailed his plans for returning it to the original idea of Bitcoin. He stated:
“We are going to return it to Bitcoin 0.1. We’re going to fulfill the original version of Bitcoin, we’re going to get rid of a lot of these silly additional ideas. People thought it’s really about drug trades and privacy and anarchy. We want to make it cash. Cash my grandmother will use, cash that I’ll be happy to give for the children to pay at a tuck shop.”