The drama since the November 15 hard fork of BCH
The drama since the November 15 hard fork of BCH network, cease to die down anytime soon. There hasn’t been a single day since, now ‘infamous’ fork, that it is not in the news. In the latest development, Florida based United American Corp has reportedly filed a lawsuit against the Roger Ver and his side. The names include Bitmain, Bitcoin.com, Kraken Bitcoin Exchange and roger ver himself.
UnitedCorp alleges that the BCH ABC side headed by Roger Ver planned out schemes to overtake and hijack the BCH network after the fork. The lawsuit alleges that the defendants used unfair means and methodologies to manipulate the system for their gains. Thus staked other shareholders value on the network. The suit further states,
“United Corp believes that the defendants colluded to effectively hijack the Bitcoin Cash network after the November 15, 2018, scheduled software update with the intent of centralizing the network — all in violation of the accepted standards and protocols associated with Bitcoin since its inception.”
United Corp was founded in 1992 as a development and management firm which primarily dealt in telecommunication and information technologies. The company is a significant stakeholder for proprietary technology in telecoms, social media, and blockchain. The corporation’s Blockchain Dome stations provide heat for the agricultural sector.
The Hard Fork Saga
The Bitcoin Cash fork War since November 15 has seen many episodes of high-stakes drama, threats, and predictions. The two communities BCH ABC and BSV have come down hard upon each other with accusations of block manipulations, an unnecessary and unethical hash war and name callings became quite common.
Craig Wright from the beginning seemed quite confident of making a comeback eventually, even though everything was against him. BCH ABC was ahead in all measurable parameters, be it numbers of blocks mined, the has power, the market cap, and the trade volume. The crypto world was sure that BCH ABC had won the Fork battle. And everything has turned on its head, with BCH ABC losing as much as 20% of its trading price in just 2 hours. For the first time since the fork BSV surpassed its rival both regarding trading volume and market cap.
United Corp Demands Compensation and Cessation
United Corp in its lawsuit which came into public knowledge through a press release on 6th December, has further alleged that the defendants on November 20 released a “poison pill” into the BCH network by way of a “Deep Reorg Prevention” which would eventually give them more control over the network.
United Corp seeks immediate relief from the ongoing manipulation of the BCH network and also protection against any future endeavors similar to the current one. The corporation has also sought compensation, the value of which would be decided during the trial.