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Litecoin [LTC] creator explains the reason he does not like the term ‘Bitcoin Cash’

Ajay Narayan

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Litecoin [LTC] creator explains the reason he does not like the term 'Bitcoin Cash'
Source: Unsplash

Recently, Roger Ver, CEO of Bitcoin.com debated with Charlie Lee, the creator of Litecoin [LTC] about Lee’s reason for not considering Bitcoin Cash as the real Bitcoin.

Lee revealed that he does not like the term ‘Bitcoin Cash’ because of the confusion it creates in the community, with some people referring to it as the original Bitcoin [BTC]. He said:

“For language, confusion is bad. If a merchant says I said Bitcoin and the person buying whatever product says, you said Bitcoin Cash and the merchant will be like, I said Bitcoin and Cash. Is that what you mean? And then it gets confusing. And if the sender sends Bitcoin Cash, the merchant didn’t get it because he only accepts Bitcoin. It’s just not good for communication.”

Lee further added that a member of the community suggested to term Bitcoin Cash as ‘BCash’ because of the confusion. This was followed by Ver claiming that changing in nomenclature was an “intentional social media manipulation campaign”. Ver continued to say that the Bitcoin community deliberately registered Bitcoin Cash as BCash on Reddit, Twitter, and other social media platforms, calling it an “orchestrated intentional campaign”.

The CEO said:

“It was an intentional effort to have the name of Bitcoin Cash become BCash and to steer all people that were looking into that particular fork or that particular version of Bitcoin.”

In response to this statement, Lee spoke about Bitcoin.com trying to propagate Bitcoin Cash as Bitcoin. He said:

“On the other side, there is a campaign to steer Bitcoin Cash to Bitcoin. And to confuse people to saying, from Bitcoin.com to saying Bitcoin Cash is Bitcoin. From Bitcoin’s Twitter account to saying Bitcoin Cash is Bitcoin”

Ver responded by saying that he is not associated with the Bitcoin Twitter handle. He went on to say that the community on the internet believe that he is associated with the account irrespective of him not owning or paying for the account. This was followed by Charlie Lee stating that he does not believe that Ver is associated with the Twitter account.



Roger further asked Charlie’s definition of Bitcoin, to which he stated that it was “what the majority of the people” thought. He further elaborated by giving an example of word ‘Crypto’ and how it was called cryptography prior to the arrival of cryptocurrency. According to Charlie, time changes a lot of things and it was important to follow the consensus. He added:

“So if you stick to the old definition of crypto, you can confuse people and that’s not good. So, if Bitcoin Cash eventually does become Bitcoin then everyone will call that Bitcoin and not Bitcoin Cash.”

According to Roger, the real Bitcoin was the one that satisfied the underlying fundamental characteristics which were mentioned in the Bitcoin whitepaper. The fundamental characteristics were: P2P Electronic Cash System, Low Fees, Fast Payments, Reliable Payments, On Chain Scaling, Non-Reversible Payments, Chain of digital signatures, Op Codes Enabled, SHA-256. Roger stated that Bitcoin [BTC] failed to satisfy eight of these criterias, whereas Bitcoin Cash [BCH] failed to satisfy one criteria.





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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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