Shame: Charlie Lee blasts Bitcoin Cash for posing as BTC

Litecoin creator blames bitcoin.com for confusing newcomers to Bitcoin
20 October 2017   2711

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.

Court to Dismiss BCH 'Hijack' Lawsuit

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, which are Kraken, Bitmain and Roger Ver
06 February 2020   280

The court dismissed the lawsuit of the mining company United American Corp. against the Kraken exchange, its founder Jesse Powell, Bitmain, its co-founder Jihan Wu and Roger Ver, who accused them of manipulating the Bitcoin Cash market and claimed $ 4 billion in compensation. As a reason for refusal, the court pointed to the lack of jurisdiction of the case and insufficient grounds.

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, who, after the emergence of Bitcoin SV in 2018, organized the so-called “hash war” and competed for 11 days to form the longest chain. The role of the Kraken exchange in these events was due to the fact that it was the first to decide to award a ticker for the BCH chain, also called Bitcoin ABC.

The simultaneous decrease in the price of Bitcoin Cash from $ 400 to $ 200 led to a significant drop in mining revenue of UnitedCorp. The firm claimed that the defendants violated the Sherman Act (the first US antitrust law proclaiming a crime to impede free trade by creating a trust and conspiring for such a purpose), Clayton's law, which also regulates the activities of trusts, demonstrated negligence, unintentional misrepresentation, improper enrichment and treatment property in their favor.

During hash wars, the amount of computing power in the Bitcoin Cash network reached 7.88 EH / s, whereas now it is 3.99 EH / s. Due to the actions of other miners, UnitedCorp could receive a significant part of the awards it had hoped for before, and the depreciation only worsened its position.

The court dismissed the claim without further restrictions. Thus, UnitedCorp is allowed to submit its revised version again until February 28th.