Poloniex opens trading for BCH pre-fork, offering BCHABC & BCHSV trading

Irving Hamilton
November 9, 2018

One Bitcoin Cash coin can now be bought for approximately $612.36 or 0.09376150 BTC on major exchanges including CoinExchange, Mercatox, Kraken and FCoin.

"A hard fork is a technology update". Nevertheless, the November 15 hard fork - just the second since BCH forked away from Bitcoin - has been hotly debated, as various development groups have significant disagreements about which upgrades should, and should not, be activated on the network. Whatever the case, with the hard fork coupling with a positive market momentum, the next two weeks are bound to be interesting for Bitcoin Cash holders.

At press time, ABC and BU nodes significantly outnumbered SV nodes on the Bitcoin Cash network.

According to an announcement made on Thursday, the exchange is offering its clients the choice to trade BCHABC and BCHSV tokens ahead of the BCH network's hard fork. Moreover, both are available before the fork even happens.

Bitcoin Cash SV also has support from mining company CoinGeek. Unable to reach a compromise, two development groups, Bitcoin ABC and Bitcoin SV, have launched competing BCH implementations that will be incompatible once the fork activates on November 15. Nevertheless, Bitcoin Cash supporters can boast that it remains far more valuable than most other alt coins, and its merchant base constantly expands. The official message board for Bitcoin Cash is bitcointalk.org. However two main differences are the the blocksize limits, as of August 2017 Bitcoin has a 1MB blocksize limit whereas BCH proposes 8MB blocks. From the beginning of BCH, developers have planned on hard forking the currency every six months. Why? It doesn't necessarily mean that a new coin will be created.

Another technical upgrade for Bitcoin Cash ABC is a new opcode that will introduce the potential for cross-chain atomic contracts. The result is a blockchain that forks into two paths, each with its own token.

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Bitcoin Cash SV has a price of $104. They also, in the aggregate, provide valuable information about which chain the market believes has more economic viability.

"I support ABC because I think it has a better team, I think it has people who are easier to get along with, I think it has people who are more competent in general", Ver said.

Accordingly, BU users can choose to follow ABC, SV, or neither. Consolidation moves above $470 are likely to invite more buying pressure, consequentially pushing prices upwards. In the past week, its price has increased by 44%.

If you plan on depositing or withdrawing BCH, make sure you do it before the hard fork. Of course, you may not be able to touch your BCH before that. Binance, Coindelta, Coinbase and Coinbase Pro will freeze BCH holdings anywhere from 60 to 90 minutes before the fork.

What's Next for BCH?

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