The scheduled November 15 Bitcoin Cash (BCH) hard fork remains shrouded in uncertainty, but one thing is clear: prominent Bitcoin advocate and Bitcoin.com Executive Chairman Roger Ver opposes the planned semi-annual upgrade protocol.
"If PayPal knew this controversial hard fork might occur, they might not have added Bitcoin Cash to their platform," Ver remarked, referencing PayPal's recent announcement about integrating cryptocurrencies like Bitcoin into its payment system. "This highlights the challenges of supporting contentious digital assets."
Understanding Bitcoin's Fork-Prone Nature
Unlike "soft forks" that maintain compatibility between upgraded and non-upgraded nodes, a hard fork introduces irreversible blockchain rule changes, creating two distinct chains if consensus isn't achieved. Developers typically approach hard forks cautiously, prioritizing community agreement. However, contentious hard forks—like Bitcoin Cash's 2018 split into BCH and Bitcoin SV (BSV)—demonstrate the risks of chain fragmentation.
The November 15 Fork: Key Details
Proposed by Bitcoin Cash ABC (BCH ABC), this upgrade includes a polarizing Coinbase Rule, mandating that 8% of BCH rewards fund BCH ABC's development. Critics argue this centralized redistribution contradicts cryptocurrency principles.
Cryptocurrency "Fork Fatigue": A Growing Concern
Roger Ver warns that services like PayPal may grow wary of assets prone to frequent forks. Exchanges already face operational hurdles—while major platforms plan to support BCHN (the likely dominant post-fork chain), uncertainty persists about minority-chain adoption.
Market Snapshot (Pre-Fork):
- Bitcoin Cash: $4.88B market cap
- Bitcoin: $283.28B market cap
Cryptocurrency Market Analysis
BTC
After breaking $16,000, BTC shows minimal retracement with declining sell-off volume—a bullish signal. **Targets: $16,100–$16,300**.
ETH
Ethereum's corrective phase appears healthy, with weakening downward momentum suggesting upward resumption.
BCH
Post-fork, BCHN stabilized above $240 despite initial dips. The split removed 5–10% of value/consensus (BCHA chain), but the overall trend remains intact.
UNI
Uniswap's rally may be overextended. New listings often require prolonged consolidation before sustained uptrends—caution advised.
LTC
Litecoin retested $60 support with shrinking volume, indicating accumulation potential. Its steady trajectory lacks signs of a top.
FAQ
Q: Why do hard forks create two separate blockchains?
A: When nodes disagree on new rules, the chain splits—one follows old protocols, the other adopts upgrades.
Q: How does PayPal's crypto integration affect adoption?
A: Mainstream platforms boost accessibility but may avoid volatile/fork-prone assets due to operational risks.
Q: What’s the significance of BCH’s Coinbase Rule?
A: It redirects 8% of mining rewards to developers, raising debates about decentralization vs. sustainable funding.
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Disclaimer: This content is for informational purposes only and does not constitute financial advice.