The scheduled upgrade for Bitcoin Cash (BCH) on November 15 by its founding developer team, Bitcoin ABC, is likely to lead to the third fork in four years for BCH, as they are insisting on implementing a new coinbase rule that will redirect 8% of mined BCH to fund protocol development. Currently, over 63% of the last 1,000 BCH blocks being mined using the breakaway Bitcoin Cash Node (BCHN) implementation. This wouldn’t be the first time Bitcoin Cash broke in half, as it began as a fork of Bitcoin core in 2017, wanting larger block sizes. A year later, BCH went through a second fork with Bitcoin SV (BSV) fending off even larger block sizes, which was even less popular than BCH. The most well-known Bitcoin Cash evangelist, Roger Ver (founder of Bitcoin.com), suggested ABC developers go to Dash (DASH) and opposed their new taxation by tweeting, “Diverting part of the Bitcoin Cash block reward to pay a single development team is a Soviet style central planner’s dream come true. Please stop.” Simple Ledger had similar criticism. Either the Bitcoin Cash Node (BCHN) implementation (currently leading) will lead a break from ABC and develop its own rival, or ABC will be forced to find a new ticker. We will find out soon enough.

Decrypt (Sept 2, 2020)