Bitcoin

The Ongoing Battle Between Bitcoin and Bitcoin Cash

Satoshi Nakamoto’s Bitcoin (BTC) started the cryptocurrency revolution. With its proven technological capabilities came plenty of impressive cryptocurrencies such as Ethereum and Litecoin. However what changed its game with a very similar name was a cryptocurrency which erupted after a hard fork in August 2017 called Bitcoin Cash (BCH).

The debate of BTC vs. BCH is still going on ever since BCH was announced. The Twitter world has been fed with some interesting discussions with crypto drama at its finest. Michael Novogratz was the latest to join in the debate and side BTC as the original cryptocurrency.

Novogratz replied to Bitcoin Cash’s Twitter handle @Bitcoin’s Tweet on May 4th which stated-

Novogratz supporting BTC will go a long way. He is known to be one of the wealthiest people in the crypto world and having a 26-year career on Wallstreet at leading financial companies such as Goldman Sachs and Fortress Investment Group. His power to control certain aspects was seen when he was able to raise $250 million for his new venture of a cryptocurrency merchant bank called Galaxy Digital even when cryptocurrency markets were seen to fall in early 2018.

Bitcoin Cash has protocol changes which help the scalability of making transactions faster and cheaper. However certain malpractices such as Bitcoin.com headed by Roger Ver have intentionally misled buyers to purchase BCH by not stating the difference between the two in the right manner.

Even CoinMarketCap (CMC) which is a significant cryptocurrency price tracking website has removed the website Bitcoin.com from the Bitcoin page as of May 6th due to these manipulations. Only Bitcoin.org is listed as the primary website for Bitcoin.

There was a lawsuit by pro-BTC users which was allegedly supposed to be fought against Bitcoin.com’s malpractices. However sufficient funds were not able to be gathered to file the case.

Image Source: “Flickr”


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