On November 2, the bull blessed the fourth-largest cryptocurrency, Bitcoin Cash [BCH], causing it to see an unprecedented increase in its prices.
At the time of writing, Bitcoin Cash was rising by 6.87% and was trading for $453.14. The cryptocurrency held a market cap of $7.9 billion with a 24-hour market volume of $311.605 million. After a bearish lull for the past couple of days, fans of the cryptocurrency have started flooding social media platforms with messages. CryptoSanTwitter user stated:
“This is the market pump we have all been waiting for. Go BCH!”
A majority of the cryptocurrency’s market volume was held by Coinbit, with a total grasp of $81.132 million. Coinbit was closely followed by Bithumb, which held a total trade volume of $63.834 million.
Recently, Binance, the largest cryptocurrency in terms of market volume, had announced its support for the upcoming Bitcoin Cash [BCH] hardfork. Binance had stated:
“Binance would like to confirm support for the upcoming Bitcoin Cash hard fork. We will take a snapshot of all Bitcoin Cash balances at UNIX time 1542300000, 2018/11/15 4:40:00 PM (UTC). Deposits and withdrawals of Bitcoin Cash will be suspended starting from 2018/11/15 3:00:00 PM (UTC).”
The cryptocurrency exchange had also stated that it will make a separate announcement after the snapshot so that users are notified of the transactions being resumed.
Binance was also in the news recently when the exchange had stopped the occurrence of a scam. The cryptocurrency exchange effectively took control of the situation and ensured the red-flagged accounts were taken down. CZ, the CEO of Binance, stated:
“The identified accounts are frozen, please report to law enforcement and have a case number. We will work with LE. This is part of centralization we hate too, dealing with other exchange’s mess (we don’t even know the details). But we will do what we can.”
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Roger Ver’s Bitcoin.com plays the ‘Bitcoin Cash not Bitcoin Core’ card again after site revamp
Bitcoin Cash is living up to the statement “imitation is the best form of flattery,” after the recent revamp of the Bitcoin.com website. Its long been known that BCH and its proponents often lambast Bitcoin as deviating from the original message of Satoshi Nakamoto. Hence, the title of the one true “peer-to-peer electronic cash system” should be given to Bitcoin Cash, and not Bitcoin, they have claimed.
From Roger Ver to the twitter handle @bitcoin to the reportage of new.Bitcoin.com, the tactics have always been to underplay Bitcoin, while maintaining an obvious pro-BCH narrative. The same was pointed out by many in the cryptocurrency community, with some accusing the CEO of Bitcoin.com, Roger Ver, of intentionally misleading newbies into purchasing Bitcoin Cash, thinking it’s Bitcoin.
This purported claim of “Bitcoin Cash, not Bitcoin Core,” is in full display in the revamped version of the Bitcoin.com website. Peter McCormack, host of the WhatBitcoinDid podcast and ardent BTC proponent, detailed the narrative of Bitcoin.com. He pointed out the biased nature of the website while referring to BTC as,
“Bitcoin Core (BTC) no longer reflects the original vision of Bitcoin. Blocks remain small and full, making transaction expensive and slow. The lightning network scaling solution is still in development.”
Further, the website also explicitly stated that Bitcoin, which has amassed over $160 billion in market capitalization, is “now commonly called Bitcoin Core (BTC).” The only website apart from Bitcoin.com that refers to BTC as “Bitcoin Core,” is Coingeek, the Calvin Ayre-owned crypto news media outlet that tables an extremely pro-Bitcoin Satoshi’s Vision [BSV] narrative.
McCormack, citing the above data, suggested that Roger Ver’s website is ‘clearly trying to marginalize BTC.’
Upon further digging, it was revealed that this ‘marginalization’ was not just related to obvious misleading semantics, but mis-characterization of actual data as well. Bitcoin.com was presenting the price of Bitcoin as the price of Bitcoin Cash before the August 2017 hardfork, which gave birth to BCH.
As pointed out by 6102 [Bitcoin-Only], the “pre-fork” price of Bitcoin Cash, which only came into existence in August 2017 and thereby didn’t have a price before the same, was presented as the price of the king coin in order to misrepresent the longer existence of Bitcoin Cash, rather than a 20 month lifetime.
The tweet read,
— 6102 [Bitcoin-Only] (@6102bitcoin) June 17, 2019
Marketing aside, this stunt by Bitcoin Cash is the latest in its long line of attempts at riding the coattails of Bitcoin and trying to mislead gullible investors to put their funds into BCH, thinking it’s Bitcoin. A large part of this confusion campaign is down to the antics of Bitcoin.com.
John Carvalho, CCO at Bitrefill, who previously enraged Roger Ver by referring to Bitcoin Cash as “BCash,” responded to the above misappropriation attempt by stating,
— John Carvalho (@BitcoinErrorLog) June 18, 2019
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