íŕçâŕíčĺ

Bitcoin Cash Is ‘Downright Scam’: Bitcoin Educator To Canadian Gov’t

Canadian Bitcoin tech entrepreneur and educator Jonathan Hamel has told a parliamentary hearing that Bitcoin Cash is a “downright scam.”


Hamel: ‘BCash’ Isn’t Bitcoin

Speaking in testimony during a meeting of the House of Commons’ Standing Committee on Finance discussing cryptocurrencies, Hamel, who described the altcoin as a “BCash,” firmly disconnected it from Bitcoin itself.

Whereas the world’s first cryptocurrency held benefits for economies, Bitcoin Cash, a hard fork of the Bitcoin network which since July 2017 has attempted to masquerade as Bitcoin itself, was not, he said.

“Other [cryptocurrencies] are downright scams, like BCash,” he said of the coin.


BCash Takes A Beating

Hamel brings the fight against misinformation regarding Bitcoin Cash to one of its most high-profile audiences to date.

Major proponents of the altcoin – Bitcoin.com and owner Roger Ver among others – have repeatedly come under fire in recent months, Bitcoin holders accusing them of presenting Bitcoin Cash as the ‘real’ Bitcoin.

New users using Bitcoin.com for information, news and investment purposes continue to be led into purchasing Bitcoin Cash, some fear.

Ver had taken the battle to the mainstream several months prior, telling CNBC on several occasions that Bitcoin Cash was superior to Bitcoin itself.


With the advent of SegWit adoption and gains by the Lightning Network, Ver’s main argument that Bitcoin Cash is faster and cheaper to use than Bitcoin now appears increasingly tenuous.

Meanwhile, mixed stances on the Bitcoin-Bitcoin Cash debate continue to surface from within the Bitcoin industry.

Entrepreneur and Civic CEO Vinny Lingham last week enacted a curious practice of blocking anyone who referred to it as ‘BCash’ from his Twitter page in a move which appeared to backfire.

“If you want to get blocked, just reply to my tweets with the keywords BCash or BTrash. My twitter feed is reserved for adults who want to have intelligent debates on merit, not children,” he wrote March 15.

What do you think about Jonathan Hamel’s description of BCash? Let us know in the comments below!

Images courtesy of Shuttesrtock, Twitter

20.03.2018 / 06:51 61
Mt. Gox Trustee Who Sold $400 Million Bitcoin Denies Affecting Market Price Mt. Gox Trustee Who Sold $400 Million
The Mt. Gox trustee who sold over $400 million in Bitcoin (BTC) and Bitcoin Cash (BCH) from December to February had denied affecting the market
Coinbase to Congress; More Clarity not Regulation Needed Coinbase to Congress; More Clarity not
Coinbase spokesman Mike Lempres told a congressional hearing that more regulation would only add to the confusion of the hodgepodge regulatory
Bitcoin Cash Propaganda Poll Backfires Bitcoin Cash Propaganda Poll Backfires
The Twitter account @Bitcoin — an intentionally misleading account which only supports Bitcoin Cash (BCH) — recently tried to defame Bitcoin (BTC) in
Is BitPay Lying About ‘Network Cost’ as Bitcoin Fees at Record Lows? Is BitPay Lying About ‘Network Cost’ as
Cryptocurrency users continue to complain about unfair fees imposed by payment processors, with one calling out BitPay for charging a 0.2%
Canadian Financial Regulator Warns Of Potential Scam, Unregistered “Cryptobank” ICO Canadian Financial Regulator Warns Of
Canadian Financial and Consumer Services Commission (FCNB) warns citizens about an unregistered “cryptobank” using fake data to attract potential
Bitcoin Cash Gaining Acceptance in Ransomware Community Bitcoin Cash Gaining Acceptance in
Bitcoin Cash has started to gain more acceptance – at least, in the field of ransomware. Fork Over Your Bitcoin… Cash Security researcher
Comments (0)
Add a comment
Comment on