In November, the cryptocurrency world witnessed one of its most dramatic events in recent memory—the contentious hard fork of Bitcoin Cash (BCH). Originally created in August 2017 as a solution to Bitcoin’s (BTC) scalability issues, BCH was designed to enable faster and cheaper transactions through larger block sizes. However, on November 15, a long-simmering ideological rift within the BCH community erupted into a full-blown network split, resulting in two competing chains: Bitcoin ABC and Bitcoin SV (Satoshi’s Vision).
This wasn’t just a technical upgrade—it was a philosophical battle over the future of decentralized money.
Understanding the Bitcoin Cash Hard Fork
Hard forks are not uncommon in blockchain ecosystems. They occur when a network undergoes a protocol change that is not backward-compatible, effectively creating two separate versions of the blockchain. While many hard forks are peaceful and widely supported, the November 2025 BCH split was anything but.
The root of the conflict lay in diverging visions for how Bitcoin Cash should evolve:
- One side sought innovation and modernization.
- The other demanded a return to what they believed were Satoshi Nakamoto’s original principles.
These opposing ideologies led to the creation of two distinct chains—each claiming legitimacy, each backed by powerful players in the crypto space.
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Bitcoin ABC: Evolution with Stability
Led by prominent crypto advocate Roger Ver, the Bitcoin ABC ( Adjustable Blocksize Cap) camp positioned itself as the evolutionary path for Bitcoin Cash. Rather than overhaul the core consensus rules, this faction focused on practical improvements that would enhance usability without compromising network stability.
Core Development Principles of Bitcoin ABC:
- Enhanced 0-Conf Transactions:
By improving the reliability of zero-confirmation transactions, Bitcoin ABC aimed to make BCH more viable for everyday payments—reducing wait times and increasing merchant adoption. - Scalability Through Code Optimization:
The team proposed removing redundant mempool code and streamlining RPC mining interfaces to support larger-scale on-chain activity, paving the way for mass adoption. - Improved Fungibility:
Ensuring all coins are interchangeable is essential for true digital cash. Bitcoin ABC introduced upgrades to strengthen privacy and prevent transaction tracking or coin blacklisting.
Bitcoin ABC positioned itself as the continuation of the existing BCH network—focusing on real-world utility, developer innovation, and ecosystem growth.
Bitcoin SV (Satoshi’s Vision): Back to the Origins
On the opposing side stood Craig Wright and his Bitcoin SV (Satoshi’s Vision) project. Wright, who controversially claims to be the real Satoshi Nakamoto, argued that cryptocurrencies must prioritize protocol stability above all else.
Key Tenets of Bitcoin SV:
- Restoration of Retired Bitcoin Code:
BSV aimed to revive opcodes and scripting functionalities removed from Bitcoin and later BCH, enabling more complex smart contracts and data embedding directly on-chain. - Massive Block Size Increase:
While BCH operated with 32MB blocks at the time, BSV pushed for an increase to 128MB, arguing that large blocks are essential for global transaction throughput and enterprise-level applications. - Immutable Protocol Design:
Unlike Bitcoin ABC’s iterative approach, BSV emphasized freezing the protocol to prevent future changes—ensuring predictability for businesses building on the chain.
To supporters, BSV represented a return to “true” Bitcoin principles. To critics, it was an ideological power grab backed by centralized interests.
The Hashrate War: A Battle for Network Dominance
Following the fork, both chains entered what quickly became known as a hashrate war—a fierce competition for mining power. In proof-of-work blockchains like BCH, hashrate determines security and transaction finality. The chain with more computational power is considered more secure and legitimate by most exchanges and services.
Initially chaotic, the conflict saw miners switching allegiance based on profitability and ideology. However, within days, Bitcoin ABC gained a decisive lead in accumulated work (total proof-of-work), leading many major platforms to recognize it as the primary BCH chain.
Despite this, several key players—including CoinGecko, Kraken, and others—chose to support both tokens post-fork, listing them separately:
- BCHABC (later reverted to “BCH” on most platforms)
- BCHSV (later renamed “BSV”)
This dual-listing approach acknowledged market demand while avoiding premature judgment on which chain was “legitimate.”
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Market Impact and Investor Implications
The aftermath of the split was brutal for investors. In the first week alone, the price of BCH plunged from around $335 to $193.79, marking a decline of nearly 42%—not 142%, which would be mathematically impossible. (Note: Original article likely contained an error here.)
Moreover, some analysts pointed out that the uncertainty surrounding the fork contributed to broader market weakness, with Bitcoin (BTC) also dipping to multi-month lows—hitting levels not seen since early 2018 at the time.
Why Did This Happen?
- Investor Uncertainty: Fears of prolonged network instability deterred new capital.
- Exchange Delays: Many platforms paused deposits and withdrawals during the fork, reducing liquidity.
- Mining Centralization Risks: The concentration of hashrate among a few large mining pools raised concerns about decentralization.
For holders of BCH at the time of the fork, the split meant they received an equal amount of BSV tokens—a so-called "airdrop" from the new chain. But without immediate trading options or clear value consensus, these tokens remained speculative until markets stabilized.
Can Bitcoin SV Survive Independently?
One of the biggest questions post-fork was whether Bitcoin SV could sustain itself without dragging down the value of Bitcoin ABC (BCH). Critics doubted its long-term viability due to:
- Limited developer activity outside Wright’s inner circle
- Centralized control over roadmap decisions
- Lack of merchant adoption compared to BCH
However, BSV found niche use cases in areas like data notarization, tokenization, and enterprise blockchain solutions—particularly in regions like China and Australia. Over time, it carved out a small but dedicated ecosystem.
Meanwhile, Bitmain—a major player in mining hardware—had previously pledged to support BSV with market-making activities, adding temporary confidence in its price floor.
Frequently Asked Questions (FAQ)
Q: What is a hard fork in cryptocurrency?
A: A hard fork occurs when a blockchain splits into two separate chains due to incompatible protocol changes. Nodes running the old software can no longer validate new blocks, creating two distinct networks—like Bitcoin and Bitcoin Cash.
Q: Is Bitcoin Cash still active after the fork?
A: Yes. The chain now known simply as Bitcoin Cash (BCH) is the continuation of the original network under the Bitcoin ABC development model. It remains actively developed and traded globally.
Q: What happened to Bitcoin SV after the split?
A: Bitcoin SV (BSV) continued as an independent blockchain with its own community and roadmap. Though controversial, it maintains a presence on major exchanges and supports unique on-chain applications.
Q: Did I get free coins if I held BCH during the fork?
A: Yes—if you held BCH in a private wallet before November 15, you received an equal amount of BSV tokens. However, accessing them required technical steps like replay protection and wallet compatibility.
Q: Which chain is considered “real” Bitcoin Cash?
A: Most of the crypto industry—including exchanges like Binance—recognized Bitcoin ABC (BCH) as the legitimate successor due to its stronger hashrate and broader community support.
Q: How do forks affect crypto prices?
A: Forks often cause short-term volatility due to uncertainty, trading halts, and speculative behavior. While some investors profit from claiming new tokens, others face risks from price drops or exchange delays.
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Final Thoughts
The 2025 Bitcoin Cash hard fork was more than just a technical split—it was a reflection of deeper tensions within the cryptocurrency movement: innovation vs. tradition, decentralized evolution vs. rigid protocol governance.
While Bitcoin ABC emerged as the dominant chain, Bitcoin SV proved that even minority visions can find traction in open ecosystems. For users and investors, such events underscore the importance of understanding governance models, holding private keys, and staying informed during high-volatility periods.
As blockchain technology matures, these forks may become less frequent—but their lessons remain vital for anyone navigating the dynamic world of digital finance.
Core Keywords:
Bitcoin Cash, hard fork, BCH, Bitcoin SV, cryptocurrency, blockchain, Roger Ver, Craig Wright