The battle for the name "Bitcoin" escalates / IOTA joins MOBI; Start of IOTA Ecosystem

in cryptocurrency •  4 months ago

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Even after the split in Bitcoin and Bitcoin Cash, the dispute continues. Recently, Bitcoin.com, Roger Ver's portal, has titled Bitcoin Cash (BCH) as Bitcoin, while Bitcoin's actual Bitcoin (BTC) is running as Bitcoin Core. The Bitcoin community is so upset that it has begun planning a class action lawsuit against Bitcoin.com.

No, names are not just hollow words, but something pretty important. Maybe everything. When Bitcoin.com recently started to run Bitcoin (BTC) as Bitcoin Core, but Bitcoin Cash (BCH) as Bitcoin for a short time, it caused a stir that seems surreal at first sight. Almost 1,000 people even try to launch a class action lawsuit against Bitcoin.com. Does the name really matter so much?

To understand why, one should know that in the years of the blocksize dispute it was mostly about the name. Whenever there were attempts to make a fork, such as with Bitcoin Unlimited or SegWit2x, the community around Bitcoin Core defended the right of Bitcoin to use the acronym BTC, and insisted that the coins created by a fork be clearly to be listed as altcoin. Bitcoin Unlimited failed as the exchanges announced it was listing as a BTU, and SegWit2x was also sentenced to death by almost all exchanges claiming to list Bitcoin itself as BTC independently of the hash rate. It's about the power to define what Bitcoin is.

Bitcoin Cash has now escaped this fight by starting as "Bitcoin Cash" and not Bitcoin from the outset. But leading Bitcoin cash advocates like Roger Ver have made it clear right from the beginning that they consider Bitcoin Cash the real Bitcoin. Roger Vers portal Bitcoin.com has released an article shortly after the launch of Bitcoin Cash explaining why Bitcoin Cash (BCH) is the true Bitcoin and what one should know as Bitcoin (BTC) and has been forged through SegWit and accordingly not Bitcoin, but "Bitcoin Core" is to call.

The small blocker or the camp around Bitcoin Core, however, consistently refuses to call Bitcoin Cash by that name, instead titling it as "bcash". Because the name Bitcoin Cash, the core community, associates a relationship with Bitcoin, which is not given, and entices beginners to buy Bitcoin Cash instead of Bitcoin. In addition, Bitcoin Cash takes advantage of the strong name. If it were an altcoin, such as the name "bcash", then hardly anyone would be interested in this uninspired coin.

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This hitherto rather smoldering dispute over the name has escalated last week. Because Bitcoin.com has introduced a new naming policy. The BTC, formerly known as "Bitcoin", is now called "Bitcoin Core", while BCH was briefly referred to simply as "Bitcoin". Meanwhile, Bitcoin.com but gone back and calls BCH "Bitcoin Cash", both in the Blockexplorer and the sale of Bitcoins by credit card.

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Bitcoin.com leads this fight for the name most offensively, but not alone. The blockexplorer.com bought by Rick Falkvinge also lists Bitcoin (BTC) as Bitcoin Legacy and plans to change the API to make Bitcoin Cash the standard. There is not yet a timeline to avoid confusing existing API requests. In fact, for many in the scene, Bitcoin Cash (BCH) is the real, true Bitcoin, while what is officially known as Bitcoin (BTC) should run in the name of "Bitcoin Core" because this coin is primarily defined by Core, and because its roadmap to scale, deviates very far from the actual, given by Satoshi plan.

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Of course, this is in no way acceptable to Team Core. Bitcoin (BTC) is the real and only Bitcoin, all the forks, bcash, bgold and so on are altcoins and should be called that too. The fact that Bitcoin.com dared to call BTC Bitcoin Core now, as if Bitcoin Cash was on an equal footing with the real Bitcoin, already put the crown on the barrel. Calling Bitcoin Cash "Bitcoin" on top of that, as if it were not bcash but Bitcoin Core the clone, is now a provocation that should not be left unanswered. Even if Bitcoin.com has now taken back the last move.

One understands the annoyance and offense that the action of Bitcoin.com triggers. But it is unlikely that customers will actually be harmed. Finally, the coins are still relatively clear excellent, can be changed at any time. Nevertheless, the core community has begun to call for a class action lawsuit.

The initiative was initiated by someone with the pseudonym MoneyTrigz, who is the administrator of rather insignificant news sites in the cryptocoin area. The website titled "Have you lose money because of bitcoin.com's fraudulent practices? We can help." However, the website does not reveal exactly what practices it does. All that remains is to learn that it is a group of almost 1000 people, including influential figures of the scene.

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Charlie Shrem, Richard Heart, John Carvalho and Ragnar Lifthrasir are mentioned. However, many of these have long been noticed by spitting poison and gall in social media against Roger Ver (and all the other famous big blockers). That they accuse Bitcoin.com of fraud is not surprising, but has been known for months. Whether the allegations have enough substance to have a chance in court tends to be unlikely. Because apparently it is less about protecting people from financial losses - as the lawsuit claims - but about using the court to enforce its own definitional authority over the name Bitcoin.



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IOTA's course has risen sharply over the last two days, beating two places in the largest cryptocurrencies. Yesterday, IOTA announced that it is joining the Mobility Open Blockchain Initiative. Furthermore, the IOTA ecosystem, which was announced in February, started on May 1, 2018.

IOTA announced yesterday that it will join the Mobility Open Blockchain Initiative to advance the use of distributed ledger technology (DLT). This consortium already includes many well-known heavyweights in the automotive industry, such as Bosch, the Renault Group, Ford and General Motors.

The common goal is the development of DLT standards and the testing and research of open source software tools to investigate the use of DLT for the automotive industry.

The DLT is to be used above all in the field of driving safety and in the autonomous electrical vehicle development. Particularly important is the smooth networking of all mobility participants in the new peer-to-peer ecosystem, which is to ensure that transactions run safely and confidentially, as well as providing maximum transparency and data protection for the users.

Dominik Schiener and David Sønstebø, the two founders of IOTA, state that the world is slowly but surely recognizing the potential of this groundbreaking technology:

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IOTA joins a forward-looking consortium that has gained significant momentum through IOTA's know-how and commitment. I am curious to see what progress can be made in the area of DLT this year.

IOTA Ecosystem officially launched

Furthermore, IOTA officially launched the website of the IOTA ecosystem on May 1, 2018.

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As I already reported, the IOTA Ecosystem was created to bring all the actors involved in the development together in one place. It does not matter if the person is an expert or a hobby enthusiast.

The main goal is the further development of the IOTA distributed ledger protocol:

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On this platform, among other educational services are provided, which should make this technology understandable to newcomers through videos, as well as interactive tools. There will also be a digital library filled with expert input. Competitions and hackathons, as well as related events should also be realized.

Finance should not play a role in research and development. For this reason, the IOTA Foundation has set up a generous development fund that can be used for new projects.

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The price of IOTA has responded positively in the last two days. The course is at the editorial time at $ 2.3348509.

The corresponding market capitalization is $ 6,47B. This allows IOTA to regain ninth place in the largest cryptocurrencies.

IOTA works with many companies from a wide range of industries, so it will be very exciting to see which application in practice IOTA's technology will actually be useful for.



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Bitcoin's name is really a big deal. Many people are still naive about this crypto space. If someone will tell over and over that bitcoin cash is the real bitcoin it may result to something horrible to somebody else.

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And so many would fall naive to this, they go to the official bitcoin.com and then could easily get swapped for the wrong one. Purchasing the wrong values, getting upset, frustrated with the whole space. Bad news over-all

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There is no "official" site for Bitcoin. If the person purchasing is looking for what the Bitcoin design paper describes, they might be terribly surprised down the line using ticker BTC.

But if they only wanted to trade for a profit, then yes it might stump them to see one coin labeled "Bitcoin Core". The point at which they, as a responsible investor, should do their due diligence.

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As another account said the very same thing as you did. Word by word. I'll just copy paste my answer for you.

If someone says over and over that the Bitcoin described in the design paper on bitcoin.org is traded under ticker BTC, 'that' might really hurt someone as well.

Best thing to do is to differentiate between both coins and the idea that is "Bitcoin" presented in the paper. We do this easiest by calling one Bitcoin Cash - and one Bitcoin SL, or "Core" because it is defined by a single official client.

In private you can still call either coin that you prefer simply "Bitcoin", as your peers will likely know which one you mean.

When somebody becomes too rich(like VER) then they want more power. That is what is going on here. Ver tried to control BTC and when he has failed, he made his own Bitcoin cash to control. Power games...

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Very true he is drunk on power and thinks he can bully people into believing bcash is the original coin and not a fork, if he wasn't so arrogant and annoying nobody would care about him but now he's getting sued which is the only kind of attention he deserves.

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You're both wrong actually. As I've pointed out before, SegWit was more or less decided but it was not yet fully forked in when Bitcoin Cash forked.

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they had to change the mining algorithm because they had no backing bitcoin has forked many time this is the same for all software this was just the first contentious fork. pretty much everybody supported segwit that why it could be forked so bitcoin cash is just the first that said fuck it we will go are own way.

The original bitcoin is always the longest proof of work with the hardest difficulty!

Like you have said before it is interesting to see it play out as both are taking a different approach to scaling I just wish twitter handles like btc or bitcoin.com would not try to deliberately miss lead people.

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The original bitcoin is always the longest proof of work with the hardest difficulty!

By original I will assume you mean "the real" Bitcoin. Let's remember this if the fork you prefer ever gets corrupted. Following that assumption, miners rule in other words and there would be no point objecting to their blocks or forking away from them.

But I disagree. There are more fundamental parameters to Bitcoin than the accumulated PoW.

Like you have said before it is interesting to see it play out as both are taking a different approach to scaling

Good to see we agree on something.

Bitcoin is the ABC

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BitcoinABC is one out of several clients for Bitcoin Cash. The chain and community follows Gavin Andresens philosophy when it comes to clients, rather than Satoshis original vision (yes, that's right and it's ok) which was to have and use only one official client.

Roger's fault, a little silly how they decided to push the limits. The only Bitcoin is the real, original Bitcoin. BCH can do it's own thing, but to steal the name is just stupid.

There is only one bitcoin and it`s the reserve curency in every exchange. Bcash is altcoin.

Excellent, the first thing we need to know is that you can not stop things like Bitcoin. It will be everywhere and the world will have to readjust itself. Bitcoin will do to the banks what the email did to the postal industry. We have decided to put our money and our faith in a mathematical structure that is free from human or political mistakes.

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Totally agree with you ;)
Have a nice day
viva la blockchain revolucion

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hahaha the same for you baby

very cool

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Bitcoin Cash is looking good!

There is a lot in a name! Especially as bitcoin is the only crypto the vast majority of people have heard of. However, surely it’s logical that after a fork, the new chain (ie the one with different properties to the single chain before the fork) is the one that has the new name. Otherwise it just gets too confusing.
If you choose your own name, bitcoin gold would also be bitcoin I’m sure, as would 1400 other alt coins!

Cryptocurrencies always give topics to talk about

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It's good to talk lol

Bitcoin cash is all about the name if the name wasn't important they could have and should have named it something different they did it to hang on to the coat tails of Bitcoin. If I created a black coloured drink and called it coke cola plus I'm sure coke cola and there community would be pissed

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The name carries a lot of weight obviously, but the rest is not really true and eventually it will be clear to anyone who digs deeper. Bitcoin BCH and Bitcoin BTC will both have to compete on merit rather than in the comment section in social media.

(r/Bitcoin is irrelevant in the discussion since they - regardless of not having had a clear standard for what Bitcoin actually is - have chosen sides. As is BitcoinTalk, BitcoinWiki and Bitcoin.org, being owned by the same group of people. r/BTC at least allows dissenting opinions.)

Ignore the trolls, ignore Roger, ignore the fake Satoshi. It all won't matter in the end. Ignore Theymos, ignore Cobra and ignore Blockstream etc. Ignore conspiracy theories from both sides. Look at the tech.

Which fork will win out is not yet certain, but so far one is an experiment in "on chain" scaling and the other in "off chain" scaling. I think we can benefit from running both, even if the actual Bitcoin design prescribed on chain scaling and even said how.

For one thing Coke is a brand and a product, so the example suggested above with Coca Cola doesn't work very well. But a better example would be if a constant ingredient in the recipe - such as the constant increase in blocksize - for Coke was no longer being added or if it was being transitioned away from over time, such that the recipe still available to the public on the bottles was a different one from the actual ingredients. Then someone could legitimately claim that it was not "Coke, per the recipe". Even if the product was still known as Coke.

Both drinks might be enjoyable and the newer one might have better success. But objectively speaking, it wouldn't be the same drink anymore.

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I agree with some of what your saying personally I'm not a fan of either so not like a Bitcoin guy that's defending it not at all. Just some of the stuff they have done like having the same color for there logos green is associated with BCASH, to call it Bitcoin core remember most people are numb nuts so that makes a difference. Allowing payments in only BCASH for miners. If this was the real world people would be pissed and it wouldn't be allowed but this is crypto land so anything goes, the fact that they have just changed it on Bitcoin.com says it all they know they are wrong. I hope they both do well because I hold a bit of both but this petty shit ain't getting either party anywhere fast

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I agree with some of what your saying personally I'm not a fan of either so not like a Bitcoin guy that's defending it not at all. Just some of the stuff they have done like having the same color for there logos green is associated with BCASH, to call it Bitcoin core remember most people are numb nuts so that makes a difference. Allowing payments in only BCASH for miners. If this was the real world people would be pissed and it wouldn't be allowed but this is crypto land so anything goes, the fact that they have just changed it on Bitcoin.com says it all they know they are wrong. I hope they both do well because I hold a bit of both but this petty shit ain't getting either party anywhere fast

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Green is "the" new color. But it is an open source project comprised of many disperse projects and lacks official client, color or other packaging, so people choose different colors. -I personally think certain decisions such as these should be enshrined as contracts between the different involved parties on the blockchain itself.

It's funny how all of a sudden the effects of property rights in combination with how Bitcoin was designed are sneered on and simultaneously hailed as the solution; How some want to make Bitcoin into a controlled brand or a commodity to be defined by current majority opinion.

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I agree with some of what your saying personally I'm not a fan of either so not like a Bitcoin guy that's defending it not at all. Just some of the stuff they have done like having the same color for there logos green is associated with BCASH, to call it Bitcoin core remember most people are numb nuts so that makes a difference. Allowing payments in only BCASH for miners. If this was the real world people would be pissed and it wouldn't be allowed but this is crypto land so anything goes, the fact that they have just changed it on Bitcoin.com says it all they know they are wrong. I hope they both do well because I hold a bit of both but this petty shit ain't getting either party anywhere fast

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Yup your right and I like the coke cola plus example.
Have a nice day :)

Bitcoin cash should be called bitcoin fake.
I like IOTA though! I did a bit of research on it not too long ago and think some of the ideas they have on applications are great.

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Dig deeper, beyond Roger Ver, Craig Wright, Jihan Wu, claims of conspiracy on both sides. There are merits to both forks.

Why does IOTA always get so much publicity/exposure/hype and Byteball is kept in secret?

Does IOTA have any advantage over it?

Bitcoin (BTC) is the real and only Bitcoin, all the forks, bcash, bgold and so on are altcoins and should be called that too.

Is this in reference to your own opinion, or is it in reference to the opinions of the Core devs you are speaking of?

There can be good arguments made that Bitcoin Cash is indeed from an objective technical point of view "the Bitcoin", even if it is highly unpractical to call it so most of the time.

Accumulated PoW is not the only parameter necessary to the design, even if for sake of making definitions much easier I would love for that to have been the case.

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It is my own opinion and to let you know I like both coins the one was the first and is Bitcoin (BTC) and the second one is the technical more advanced Bitcoin Cash (BCH) the best is they both made and will make me a ton of $ as other cryptocurrencies will do as well ;)

Have a nice day and thanks for all your information plus the flag on this one stupid comment from abdurrazzak562!

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Thank you for being straightforward here at least.

It's quite obvious if you look into it that the other forks were made only as scam coins or to outright distract from the major forking event.

I really don't care how much money is made on either of them. I don't own any. But it pains me to see a social media campaign paint this as an easy choice, when in the past arguments have been made in the complete reverse to get away from on chain scaling or "miner centralization" etc.

That's why I answer. Because I can't stand that Roger, Jihan (a good guy actually) and fake Satoshi are becoming the only people whos contrarian opinions are -- at least to some vague degree, through regurgitated opposition to them -- widely known on this topic.

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Here we go again. Very Wrong Ver -- and his enured followers are pretty mad that anyone would challenge their underhanded tactics.

The thrust of the lawsuit isn't just the use of the camped .com domain, but the way Very Wrong Ver uses deceptive naming tactics to dupe newbies into his personal ego-project. There were changes made in response to the lawsuit recently, (But since there are archives of the original, it doesn't matter), which indicates Very Wrong Ver is completely aware of his actions.

The whole reference to "Core" is a technique used to create artificial tribalisms and alliances. Bitcoin Core is a reference client, it runs on a users machine as a wallet interacting with the Blockchain. If Very Wrong Ver was going to use the same naming convention consistently, he'd refer to his project as "Bitcoin ABC" which is the client they currently have.

In any case, its just meant to sow discord and confusion. Much like a sleazy car salesmen, Very Wrong Ver hopes that the new user doesn't look too closely, and by the time they have asked him to send some "Bitcoin" -- they'll realize they only have the altfork BCH instead.

This is called fraud, in many countries and jurisdictions -- as Very Wrong Ver is about to find out.

What is interesting is that his devoted fans don't question his tactics - or if they do, they only dig in their heels when challenged -- because of the tribalism nature of his group dynamics and naming conventions.

It should be fascinating to see the narrative shatter, because Very Wrong Ver has a history of overstepping the bounds of the law, since technically he is an ex-convict.

BCH, BCash, whatever you call it -- is simply a vehicle for Very Wrong Ver to perpetuate his own schemes to enrich himself, exposing the worst side of humanity.

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If Very Wrong Ver was going to use the same naming convention consistently, he'd refer to his project as "Bitcoin ABC" which is the client they currently have.

No, because Cash was already chosen as a differentiator. Using BitcoinABC ignores the fact that there is no official client, as there is in Bitcoin SL "Core".

That's the naming convention he's using.

Anyways, I'm done debating you today. It's not about Ver in the end. I'm not a "devoted fan",0 so maybe my criticism doesn't count? It's you guys who try to make it about him, Jihan, faketoshi or anyone else that's controversial so that you can guilt by association.

BCH is more than a simple pump and dump scam, as I'm sure anyone sensible in space who has followed this for a longer amount of time can agree by now.

Congratulations @danyelk!
Your post was mentioned in the Steemit Hit Parade in the following category:

  • Pending payout - Ranked 7 with $ 614,48
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Cool thanks and have a great weekend :)

Tough competition

This is still very new to me. When I was exchanging SBD for SP last week I saw that I could purchase Bitcoin and Bitcoin Cash and was confused as to which one was actually Bitcoin. This article really helped me understand, at least that one aspect of cryptocurrency. Thank you for posting and making this newb a little less ignorant. :)

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Your welcome and I am glad my post could help you a bit :)

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I am following you now, so maybe you can help me a "bit" more haha. Couldn't resist the bitcoin pun. And btw, thank you for the upvote.

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Which is "the real" Bitcoin per the original ideas and hence valid chain, is not necessarily the same as which is "the real" in terms of being the current PoW majority chain in terms out of the forks resulting from the split. I suggest you try out both.

If you've been in crypto any lenght of time and have some Bitcoin SL "Core" (still using ticker BTC) you may also check if you have some Bitcoin Cash tied to your address.

Wow, what a good article! And you are so unbiased!

This name debate in my opinion is just stupid! Focus on the tech!

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Thanks buddy glad you enjoyed my post :)

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For the most part I agree with you: Focus on the actual technology.

Here we finally have two experiments that we can run side by side in the coming years. Both have serious developers with some serious challenges ahead of them. So why waste time producing conflict? Let's just see what works best, so that we can make the world a better place.

Some consider BTC to be "the" Bitcoin and some consider BCH to be "the" Bitcoin. I'd say we can mostly just leave it at that and do something more productive with our time.

Bcash, as I prefer to call it, is a fork away from Bitcoin. When the fork happened, it had less market cap than Bitcoin, less hash power than Bitcoin, much fewer transactions per day than Bitcoin, and much, much fewer nodes than Bitcoin. So it had to rely on so-called 'emergency difficulty adjustment' to survive.
No one in their right mind, if I may say so, would consider this forked blockchain to be 'the Bitcoin'. That is a blatant lie, as much as those tyrants and dictators who love to cast themselves as 'the protector of citizen' and their government as 'democratic'.

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Exactly right.

Very Wrong Ver has a history of stepping over the bounds of law. He was quoted in a interview with CNBC "Fast Money" as endorsing Insider Trading.

This isn't new for him -- Very Wrong Ver is used to pushing the boundaries of legal behavior all in pursuit of his personal aims. He is an ex-convict, after all. And as statistics will show, most ex-cons have a relapse rate after some time in the "outside".

It looks as if he's going to get his chance to be in a private cell again.

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...and one of the BIG ELEPHANTS in the room: The fact that all those 'webportals' promoting / claiming Bitcoin cash is the real deal are all dot COM not dot IO or dot INFO or dot org but rather clearly commercial (com) and not decentralized but rather controlled by one person. As the website /domain owners they (people like VER) can say whatever the hell they want - but saying it doesn't make it true. Large Chinese concerns make a huge portion of the equipment for Blockchain mining and they sell their equipment ONLY for Bitcoin Cash and thus are promoting Bitcoin cash. If one corporation can control the mining of Bitcoin Cash then they may 'Centralize' Bitcoin cash in a way that is rather hidden and behind the scenes. There is a lot of pressure and influence behind people like Ver to PUSH Bitcoin cash and thus also push it away from being a true decentralized medium of exchange into a more controlled or manipulated one. Heck, Roger Ver was even actually paying miners fees out of his own personal money - above and beyond transaction fees right? (In the beginning) What is wrong with that picture?!
Not that there aren't decentralization issues with all the cryptos but at least the real Bitcoin is actively working hard in the spirit of transparency and decentralization while Ver and the others are clearly NOT but rather obfuscating very important facts.

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He was quoted in a interview with CNBC "Fast Money" as endorsing Insider Trading.

Insider trading qua insider trading is in fact ethically speaking a non-crime. It is not immoral to act on information that others don't have access to when it benefits you financially.

What might be immoral on the other hand is doing it in particular ways under certain circumstances, provoking some of these circumstances, and especially if it violates contractual obligations.

Iota has been undervalued for way too long

Bitcoin is the mother cryptocurrency and king of all digital coins. Those who are trying to divert it in different way is not the right idea.

The conflict has become much and significant with many encryption sites
Thank you for your wonderful sharing

Thanks a lot for discuss about crypto ..But this time any crypto very low but day by day any crypto increase ..

I am joinand forward-looking consortium

In my mind, Btrash and the site Bitcoin.com should face the consequence of their action. Roger Ver is not a trustable person and I lost respect for him completely!

He shills Btrash everywhere with his sock puppets army!

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Yup I agree and I have lost my respect for him as well but I will not forget what he did in the early times of BTC and cryptos to help making it more public and bringing it a bit closer to the people. I am sure there was a lot of self interest involved but still he helped the crypto community with it.

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Prove that I'm a sock puppet please. You didn't mind the sock puppets spreading "bcash" across social media or the divertion to a separate subreddit I suppose? Try to look in both directions. Roger, other personalities, even conspiracy theories coming from both sides, are not all there is to this issue. There are both social and technical merits for Bitcoin Cash.

Many people now have many frustrations and despair of digital currencies

IOTA looks very promising. I hope they can realize their roadmap without much problems in the future.

Thanks for sharing this cryptocurrency .
I appreciate your blockhain.

Iota is doing big things and isn’t all hype like the rest of the others. Severely undervalued!

It's confusing the new traders! That's so not done!
Great article though. I feel the name is not that big an issue but still BCH will always be bitcoin cash.

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It's also confusing for new users that Bitcoin SL "Core" (ticker BTC) is so far away from original design that the owner of Bitcoin.org suggested the paper that defines it be changed.

This post has received a 0.80 % upvote from @booster thanks to: @rakibe.

Its a tough competition...thank you for the posts, I enjoyed it...

Thanks for this post.

Very great article. I rally enjoy you post. Very informative post about cryptocurrency and blockchain. Its really cool. Thank you so much for sharing.

Coins mentioned in post:

CoinPrice (USD)📉 24h📈 7d
BCHBitcoin Cash1610.740$-2.8%21.79%
BTCBitcoin9248.260$-1.32%2.09%
DLTAgrello0.287$-4.43%-12.54%
MIOTAIOTA2.431$7.79%25.74%

You got a 12.73% upvote from @postpromoter courtesy of @danyelk!

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how this will end

Bitcoin-the popular cryptocurrency

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