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The Bitcoin Cash (BCH) blockchain today split into two (it “hard forked”). Traders, grappling with the uncertainty of the future of the network, pulled the price of Bitcoin Cash price down from $255 to $240, a 5% decrease in the past 24 hours.

The hard fork follows a major disagreement between two BCH clients, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN), after BCHA put forward the Infrastructure Funding Plan (IFP), a scheme that would levy a 8% “tax” on miner profits and re-channel the funds towards the network’s development.

The proposal remains largely unpopular among users of BCH, who fear diminishing profits and fret that it would dash the community’s decentralized spirit.

Most major companies expect no disruptions and signal they are ready to accommodate the changes, but many, such as Coinbase announced a temporary pause in deposits and withdrawals of BCH. 

Meanwhile, in the hours leading up to the hard fork, Bitcoin and Ethereum hit record highs in “realized” prices.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Bitcoin Cash is a cryptocurrency designed to be an electronic payment system—as opposed to merely a means of storing value like Bitcoin. It was created as a hard fork of Bitcoin in August 2017 and, while technically similar, differentiates itself through faster transaction times. As Bitcoin Cash’s block size is substantially larger than Bitcoin (32MB relative to 1MB), its transaction costs are also reduced.&quot;}" data-sheets-userformat="{&quot;2&quot;:803,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;11&quot;:4,&quot;12&quot;:0}">Bitcoin Cash is a cryptocurrency designed to be an electronic payment system—as opposed to merely a means of storing value like Bitcoin. It was created as a hard fork of Bitcoin in August 2017 and, while technically similar, differentiates itself through faster transaction times. As Bitcoin Cash’s block size is substantially larger than Bitcoin (32MB relative to 1MB), its transaction costs are also reduced.</span>

Bitcoin Cash

Bitcoin Cash is a cryptocurrency designed to be an electronic payment system—as opposed to merely a means of storing value like Bitcoin. It was created as a hard fork of Bitcoin in August 2017 and, while technically similar, differentiates itself through faster transaction times. As Bitcoin Cash’s block size is substantially larger than Bitcoin (32MB relative to 1MB), its transaction costs are also reduced.

Bitcoin Cash is a fork of Bitcoin (Image: Shutterstock)

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The Bitcoin Cash (BCH) blockchain today split into two, with uncertainty among traders pushing Bitcoin Cash's price down by 5% in 24 hours.

Bitcoin Cash Crashes as Hard Fork Goes Live

The Bitcoin Cash (BCH) blockchain today split into two (it “hard forked”). Traders, grappling with the uncertainty of the future of the network, pushed the price of Bitcoin Cash down by 5%.

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