Bisq Decentralized Exchange Drops Bitcoin Cash, Denounces Hash War

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Bisq, a major decentralized exchange, has announced that it is
dropping support for Bitcoin Cash (BCH) as part of its latest
update. Unlike some decentralized exchanges, which often
trade minor tokens, Bisq has always focused on supporting
leading coins. Now, one major cryptocurrency will no longer be
available to users.

The removal is a direct result of the recent Bitcoin Cash hard
fork , which left the coin’s mining community divided. Many
leading exchanges temporarily delisted Bitcoin Cash during
the fork, but quickly restored the coin once a dominant faction
(Bitcoin ABC) emerged. The fork has concluded, and Bitcoin
Cash is now offered on most exchanges once again — although
it is trading at a much lower price than it once was.

Bisq, however, does not see eye-to-eye with those major
exchanges, and it relies on community opinion to decide which
coins are included on the exchange. Last week, Bisq Founder
Manfred Karrer began a thread in which he expressed contempt
for Bitcoin SV, a Bitcoin Cash faction that has filed lawsuits
against the dominant faction, Bitcoin ABC. Karrer wrote:

“Those lunatics from the BCH [SV] camp are
starting to [sue] exchanges who listed BCH
(Kraken). I think now the time has come to cut
any connection with those scammers. If you
support that proposal please add a thumbs
up.”

Karrer also criticized the hash war, in which each faction is
attempting to mine more blocks than the other in order to gain
control of the Bitcoin Cash blockchain:

“BCH has created so much damage and their
hash-war is probably the main reason for the
current price crash in BTC. So that all sums up
more then enough reason to not support
anything related to BCH in any way.”

Within a day, the removal had received overwhelming support,
with 44 upvotes and zero downvotes. Many users stated
concern about the possibility of a 51% attack on Bitcoin Cash
and the coin’s declining value. Others expressed distrust in
market cap rankings, which allegedly make Bitcoin Cash
appear to be more significant than it actually is.

Nevertheless, there was tempered support for Bitcoin Cash.
One Bisq user argued that it is “bold to remove a top 5 cap
currency” from the exchange. Another claimed that it is “not a
good idea to take sides” in general. However, these responses
did not persuade the community to continue its support for the
coin.

It should be noted that Bisq has doubled back on related
decisions in the past. When Bitcoin Cash was first released in
August 2017, Karrer and the Bisq community stated that they
would not include the coin in the exchange. Bisq nevertheless
added support for the coin a few months later .

Whether Bisq’s decision to remove Bitcoin Cash will last
permanently remains to be seen. Although the discussion was
heated, the decision was made quite hastily. It is possible that
an effort to reintroduce Bitcoin Cash to Bisq will take place, or
that a forked version of Bisq that supports the coin will be
created.

In any case, the Bisq proceedings are certainly part of a larger
division that has formed in the crypto community. The conflict
shows no signs of dying down any time soon, and whether
Bitcoin Cash will be able to maintain its high-ranking position
in the aftermath of the fork is still uncertain.

Source: https://unhashed.com/cryptocurrency-news/