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The Bitcoin blockchain hard fork finally happened: SegWit opponents launched a user-activated hard fork (UAHF) to create Bitcoin Cash, a cryptocurrency competing with Bitcoin.
However, the vast majority of the community is still confused by the abbreviation to use in order to refer to the brand new cryptocurrency: whether it is BCC, BCH, BTX, Bcash, etc.
A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits
Thus, as Vitalik Buterin notices on his Twitter, it is profitable to create a cryptocurrency with the name like this in such a situation:
As far as blockchain naming wars go, this is a clever move: https://t.co/pI92m1kNdu
— Vitalik Buterin (@VitalikButerin) August 5, 2017
A great deal of jokes has been played upon the Bitcoin Cash abbreviation:
Bitcoin Cash abbreviation debates on Vitalik Buterin's Twitter account
Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography
Thus, as the report on Bcash (referring to the Bitcoin and Zcach collaboration) argues, "Bcash is a new cryptocurrency that uses the existing Bitcoin ledger combined with Zcash privacy technology" and it is to be launched in the first quarter of 2018. The authors of the article also claim that Bcash is not related to Bitcoin Cash by any means and it is the entirely different project. The Bcash developers also warn their potential customers:
There are a number of scammers trying to cash in on the Bcash name. Be very cautious of anyone using the ‘Bcash’ name at this time. Bcash is not available for purchase or sale at this time.
A popular Internet-resource @WhalePanda also sheds light upon such a problem by retweeting this post concerning some scams alert as soon as scammers, of course, did not hesitate to take their chance to confuse people even more and make some profit of it:
Beware. Scammer are developing an altcoin with the same name as #Bcash. We have begun to refer to it as ZBcash to avoid confusion.
— Bcash (@bcash_bch) August 5, 2017
Whether Bcash is scammers' tricks or a real new cryptocurrency, as always, remains to be seen. The only thing known for sure is that the community has to finally come up with the single idea about Bitcoin Cash abbreviation to avoid the mass confusion.