This lost power a week ago. Bitcoin Cash SV will not be listed for trading in some exchange houses
A Mexican exchange house called Bitso accepts Bitcoin Cash ABC, under the name of BCH. The decision follows the trend of cryptoactive exchanges with respect to the Bitcoin Cash hard bifurcation. The startup also announced that the token Bitcoin Cash SV, the other hardfork product chain, will not be included in the platform for commercialization.
Before the bifurcation, which occurred on Thursday, November 15th, this company reported that there was uncertainty regarding which chain would prevail. Due to these facts, Bitso decided to suspend trading in the BCH / MXN and BCH / BTC books on Thursday, November 15th, 2018. Now, the trade was reactivated.
In Bitso official blog, the corporation explained that it will give support to Bitcoin Cash ABC and will maintain the BCH ticker. Trading, funding and withdrawals from BCH would be restored on November 23rd, 2018 at 10:30 am.
About the resumption of trade with the cryptoactive, the company explained: “In the first hours of trading we will only enable limited orders to avoid extreme movements in the price. Note that during the first week, the processing of BCH withdrawals may take longer than normal”.
In relation to Bitcoin Cash SV, Bitso stressed that the token will not be listed for trading because it does not raise their listing and security criteria. The company added: “We will distribute the corresponding Bitcoin Cash SV tokens to all eligible users. This process could take some weeks”.
To save time, clients will be notified when the operation is ready and enables the withdrawals. However, Bitso will not allow income from Bitcoin Cash SV, so transactions made to BCH addresses of the company will not be credited.
Because of the Bitcoin Cash bifurcation results, Buda, a Chilean exchange house, took a similar decision. Now they are supporting BCHABC as BCH, and they have “no intention” of supporting BCH SV so far.
“As we have said publicly many times, the altcoins that are born from a fork represent a high cost for the exchanges, because, inter alia, they demand two things: first, recovering the altcoins from the new chain, and, secondly, and even more serious, it implies a risk in terms of security because it forces us to access the cold vault where we keep most of the cryptoactive; activity that we try to reduce to the maximum”, the company said on its official web site.
It also clarified that there is not a date to support BCH SV. Recovering those BCHSV means exposing the private keys of Buda’s cold vaults, which it minimizes to the maximum for security reasons. “But the answer is yes, we will return them in their equivalent in BTC at the time of recovery and future conversion”, it affirmed publicly.
A week ago, there were a conflict called “hashes war or hashwar” between the group that supports the ABC chain of Bitcoin Cash and the SV group. The ecosystem witnessed this. In response, both decided to take different directions claiming that they had “better proposals” to improve their platforms.
The war seems to be favoring the ABC version, at least in the markets, because ABC has more power with 2,589 PH / s and SV with 2,318 PH / s, according to recent news.
By María Rodríguez