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Bitcoin [BTC]: Bitrefill’s John Carvalho says users who love BTC don’t use Coinbase




Bitcoin [BTC]: Bitrefill's John Carvalho asks users to stop using Coinbase if they love BTC
Source: Pixabay

The debate around Bitcoin [BTC] and altcoins has excited the market since the first altcoin emerged in 2011. Proponents of the top coin advocate a one-stop-shop cryptocurrency that can be a store of value and a medium of exchange, branding all other coins in the market as “sh*tcoins.”

One among those loyal to the BTC camp is John Carvalho, better known in the virtual currency community as BitcoinErrorLog, who scathingly replied to a conversion update by the American cryptocurrency exchange Coinbase. Carvalho is also serving as CCO at Bitrefill.

Coinbase put out a tweet on February 20, informing their clients that Bitcoin can be directly converted to a host of different cryptocurrencies. Among the coins on the conversion list were top coins like Ethereum [ETH], Ethereum Classic [ETC], Litecoin [LTC], Ox [ZRX], and Bitcoin Cash [BCH].

The tweet read,

“Did you know you can directly convert Bitcoin to another crypto on Coinbase? Conversions are available between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Ox (ZRX), or Bitcoin Cash (BCH).”

John Carvalho replied:

“If you love Bitcoin, you don’t use Coinbase.”

BitcoinErrorLog was clearly not happy about the conversion options which make it easier to pull money out of Bitcoin and into coins which many, including him, consider irrelevant. Carvalho wasn’t done yet, however. He also responded to a user who said that Coinbase was a friend to BTC not long ago. He replied,

“Fu*k Coinbase. They aren’t any easier than other exchanges, they are just louder… And more evil.”

When accused of his tweet being based on emotions rather than facts, Carvalho stood by what he tweeted, saying,

“There are lots of reasons, do some research. If you love Bitcoin, at least.”

Recently, Carvalho caused quite a stir among the developer community by agreeing with Luke Dashjr’s proposal to push the Bitcoin block size to 300KB given the performance of the Lightning Network. To the proposal, BitcoinErrorLog commented that he would run the soft fork for the same.

Several proponents were unhappy and lashed out at both Dashjr and Carvalho for their proposition. Cobra, the co-owner of and replied to Carvalho, referring to the aforementioned fork as a “contentions hardfork.” He added,

“This will split off from the established consensus, cause massive drama, and damage trust in Bitcoin.”

Another significant reaction to the same proposition came from the CEO, Roger Ver who stated that if this does materialize i.e. if the block size dropped to 300KB, he would sell all the BTCs he holds. In an episode on his YouTube channel, he said:

“I really really hope that Luke Jr. and all these other guys lower the BTC block size to 300 kilobytes if they do I will sell even more of my BTC. A lot more. Maybe, I would even sell all of it at that point. Absolute Insanity.”

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HitBTC responds to allegations of insolvency, refutes claims made by Redditors




HitBTC responds to allegations of insolvency
Source: Unsplash

HitBTC, a Hong Kong-based exchange has been the center of accusations among users on Reddit, Twitter, and other forums. HitBTC users started complaining about issues regarding withdrawal and extensive procedures after one particular user @ProofofReserach put out a thread alleging insolvency of HitBTC.

To put an end to all the accusations, HitBTC has broken its silence with a blog post explaining their side of the story. According to HitBTC, their systems performed well during the winter of 2017-18, however, HitBTC mentioned that due to overwhelming demand for the services, they experienced bottlenecks at an operational level.

Referring to the BitcoinExchangeGuide article, HitBTC responded:

“A widely quoted article, in its entirety, is based on only 2 AML cases. One of them was initiated as part of the investigation into the December, 2018 BTCP security breach, at the request of the coin’s core team. Unfortunately, there is no clear indication of the nature of the second case that can be discerned from the article. The author of the article failed to track the deposit/withdrawal dynamics that did not uncover any irregularities. A simple block explorer or our public System Monitor would suffice for these purposes”

Additionally, referring to the altcoins being added and removed from the platform, the exchange said that they were honored to work with a diverse range of projects, however, since the crypto sphere was still nascent, there were lapses in their judgment in assessing the integration partners. With the above-mentioned prominent cases, HitBTC also addressed other topics.

@ProofofResearch replied to HitBTC’s blog:

“Is there a reason why you’re unable to tell people us where your Bitcoin storage is at? If what I published is as untrue as you claim it is, then providing a wallet address where your Bitcoin funds are stored will go a long way in *proving that*.”

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