Shame: Charlie Lee blasts Bitcoin Cash for posing as BTC

Litecoin creator blames bitcoin.com for confusing newcomers to Bitcoin
20 October 2017   1795

Bitcoin Cash is Bitcoin

One of the most popular websites in the field of cryptocurrency, bitcoin.com, has released a quite a controversial statement that claimed that "Bitcoin Cash is Bitcoin".

The hard-forked version of Bitcoin has not been able to come close to the original Bitcoin chain by any indicator, such as user base, hashrate, market cap, and developer activity. Still,  bitcoin.com argues that the Bitcoin Cash chain is "most closely adherent to the original design":

Based on the above comparisons between the various versions of Bitcoin, the whitepaper, and the years of common understanding that Bitcoin was always meant to be an electronic cash system, it is the position of this website that Bitcoin Cash is the version of Bitcoin that most closely adheres to the original design. The position that Bitcoin Cash is Bitcoin is based on its adherence to the design goals and intended purpose that Bitcoin was created to fulfill.
 

"Bitcoin Cash is Bitcoin" on bitcoin.com

In response, leading industry experts including Litecoin creator, Charlie Lee, offered harsh criticism.

Charlie Lee

The Litecoin creator, who is known as one of the most honest developers in the cryptocurrency world, never shies away from any discussion on the hottest topics with the public and always tries to be open and honest about the problems.

Now, the man expresses his emotions on the article via his Twitter.

A lot of newcomers are going to be misled by Bitcoin.com . This article is so full of lies and FUD. Not having replace-by-fee does not make unconfirmed transactions safe. Also confirmed transactions are irreversible even with SegWit. SegWit signatures are not removed from the transactions. It’s just the transaction data structure that’s different. It’s just as secure. More Pretty much every other line in that article is FUD and misleading. It’s very much a hit piece on Bitcoin Core and SegWit. Shame.
 

Charlie Lee
Litecoin creator

Lee further emphasizes that the end result is not important. It is not morally and ethically correct to deliberately confuse newcomers in the Bitcoin and cryptocurrency markets.

UnitedCorp to File Lawsuit Due to "BCH Manipulations"

Suit is filed against Roger Ver, Kraken and Bitmain
07 December 2018   176

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.