Huobi to Consider Bitcoin ABC as BCH

Number of other exchanges including Kraken, BitPay, Bitstamp, Coinbase, Bithumb, Upbit and Bittrex made the same decision as Huobi
19 November 2018   264

Huobi Global considers the longer Bitcoin ABC chain as a “real” Bitcoin Cash with a BCH ticker.

At the same time, the competing implementation of Bitcoin SV will be traded under the BSV ticker. Trading in this asset together with Bitcoin will start today, November 18th. The possibility of depositing BSV will appear on November 20. The resumption of the possibility of I / O BCH will appear a day earlier, on November 19.

The company also reported that the Bitcoin Cash ABC team created a so-called control point to avoid re-spending.

Huobi will also add BSV coins to the BCH holders in a 1: 1 ratio based on network snapshot made on November 16 at 00:40 (GMT + 8).

Note that a number of other major exchanges and cryptocurrency processings, including Kraken, BitPay, Bitstamp, Coinbase, Bithumb, Upbit and Bittrex made the same decision as Huobi.

UnitedCorp to File Lawsuit Due to "BCH Manipulations"

Suit is filed against Roger Ver, Kraken and Bitmain
07 December 2018   152

The technology company United American Corp (UnitedCorp) sued Bitmain, Kraken, Bitcoin.com, Roger Ver, and others involved in a “well-planned scheme to take control of the Bitcoin Cash network.” This is reported on the website of the corporation.

Representatives of UnitedCorp argue that the actions of the defendants caused the "global capitalization meltdown of the Bitcoin Cash." These actions, the company believes, were aimed at enriching the above market participants to the detriment of others.

The company’s website also contains a diagram of the actions of the above market participants:

Bitcoin Cash Manipulation Scheme by UnitedCorp
Bitcoin Cash Manipulation Scheme by UnitedCorp

The events described are related to the recent hardfork of Bitcoin Cash, as a result of which the network of this cryptocurrency split into two competing chains. After hardfork, according to UnitedCorp, the companies and individuals in the lawsuit took control of Bitcoin Cash.

We are bringing this suit on behalf of UnitedCorp because we believe strongly in the value and integrity of democratic, distributed and decentralized blockchain networks which will become more important with time. In order to maintain confidence in cryptocurrencies such as Bitcoin Cash, no person or entity can be allowed to control them.
 

Benoit Laliberte

President, UnitedCorp

At the same time, the company is convinced that these actions were aimed at centralizing the BCH network. Also, UnitedCorp claims that on November 20, the Bitcoin ABC development team introduced the “poison pill” into the blockchain. It was presented as “Deep Reorg Prevention”. These actions, confident in the company, were, in fact, aimed at strengthening control over the network and its future updates.

UnitedCorp requires a court order prohibiting defendants from engaging in future activities that harm the Bitcoin Cash network. In addition, the company intends to receive compensation for damages, the amount of which will be established in court.

It should be noted that Bitcoin SV, a cryptoactive asset that emerged as a result of hard forks, came in fifth in the CoinMarketCap market capitalization rating.

The rate of Bitcoin SV is growing despite the general decline in the market. Over the past 24 hours, the price of BSV has increased by 21%, and the asset capitalization has approached $ 2 billion.

At the same time, the main competitor of BSV - Bitcoin Cash - has fallen by 16.5% in the last 24 hours, having consolidated on the 7th line of the rating.