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Bitcoin Cash [BCH] community lashes out at Poloniex over BCHABC ticker symbol

Priya

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Bitcoin Cash [BCH] community lashes out at Poloniex over BCHABC ticker symbol
Source: Unsplash

Poloniex, a United States-based cryptocurrency platform, announced margin trading and lending support for Bitcoin Cash [BCH] and Bitcoin Satoshi Vision [BSV], on its Twitter handle on 11th April 2019.

The coins are paired with Bitcoin [BTC], the largest cryptocurrency by market cap, for margin trading. This trading service would be available only for the platform’s non-US customers, with a 2.5x leverage. With this new addition, the total tokens supported for margin trading on the platform amount to fourteen, including top coins such as Ehereum [ETH], Litecoin [LTC], and XRP.

The exchange said in a blog post,

“Like the other assets available for margin, BCHABC and BCHSV are also now available for lending. That means customers holding BCHABC and BCHSV can lend it to other customers and earn interest (set by the market)”

Source: Twitter

Source: Twitter

In simple words, margin trading refers to trading with leverage/borrowed money on an exchange platform. A trader can choose to open either a long position or short position with the leverage provided by the exchange. With this trading service, the exchange makes a profit by charging interest on the borrowed coins once the position is closed.

This news was, however, criticized by several members from the Bitcoin Cash community, on social media platforms such as Twitter and Reddit. The problem was with regard to the ticker symbol of Bitcoin Cash as the coin on the exchange was listed as Bitcoin Cash ABC [BCHABC]. This, in turn, resulted in the community asking the exchange to change the coin’s ticker symbol to Bitcoin Cash [BCH].

Elidan123, a Redditor, said,



“How can anyone take crypto seriously when you got exchanges ran by kids, changing names and making up logos?”

Source: Twitter

Nevertheless, this was also followed by the Bitcoin community questioning their rage. Dontcarenope, another Redditor, said,

“What do you mean? People’s in this sub [r/btc] try daily to change a certain coins name, to fit some stupid made up backronym and/or an arbitrary ticker of all things.”

e3ee3, a Reddit user, said,

“Why do you kids use “Bitcoin” Cash and “Bitcoin” SV when they are not Bitcoin? Why do you have a similar official logo with the exact same symbol? Why do you use r/btc and bitcoin.com to promote “Bitcoin” Cash? They are adults making it simple for everyone else.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin Cash

Bitcoin SV’s Craig Wright withdraws email evidence submitted to court as he could not verify date of email exchange

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Bitcoin SV's Craig Wright withdraws email evidence submitted to court as he could not verify date of exchange
Source: Unsplash

Craig Wright, the self-proclaimed Satoshi Nakamoto, has been in the limelight for the past few days. Apart from the news surrounding a lawsuit over a defamation case, Wright also made headlines due to the news pertaining to the Dave Kleiman case.

Earlier this week, a Reddit user stated in a post that Wright “purposely” submitted a fake email as evidence to the court for the Kleiman -Wright lawsuit. The lawsuit alleges that Wright had stolen $1 million Bitcoin from Dave Kleiman after his death, and Wright was being sued for billions of dollars.

The Redditor had stated,



“Craig Wright’s fraud continues. Yesterday, he submitted into evidence an email he says was from Dave Kleiman to Uyen Nguyen asking her to be a director of his ‘bitcoin company’ in late 2012. It is provably fake. Craig didn’t realize that the email’s PGP signature includes a signing timestamp along with the ID of the key used as metadata.”

Source: Reddit

Source: Reddit

Apart from this, it was also pointed out that the spelling “Kleiman” was misspelled in the letter, as the from address spelled it “Klieman”. Now, according to a new court document, Wright has withdrawn this evidence by stating that he cannot verify the date of the email exchange.

The court letter said,

“Dr. Craig Wright respectfully notifies the Court that he withdraws Exhibit A to his Motion for Judgement on the Pleadings for Lack of Subject-Matter Jurisdiction […] Wright is not withdrawing the motion and maintains that this Court lacks subject-matter jurisdiction over this action”





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