The Problem With BitcoinCash (BCH)

in #bitcoin6 years ago (edited)


The Problem With BitcoinCash (BCH)

BitcoinCash is unethical. My problem with bitcoin cash (BCH as I will refer to it from now on) is not from a technological viewpoint like others have regarding its fork from bitcoin (BTC as I will refer to it from now on) but from an ethical viewpoint. BCH was forked from the main BTC Network on August 1, 2017. The stated purpose of BCH is to provide an alternative to the bitcoin scaling debate by increasing the block size to 8 MB from the old 1MB. The official statement found on the BCH website is as follows:

Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash". Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. All Bitcoin holders as of block 478558 are also owners of Bitcoin Cash. All are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world.

While their point and purpose are legitimate for forking the currency (at least in my opinion) what I don't find legitimate and what prevents me from supporting BCH is how unethical their marketing is for the currency and project as a whole. BCH has an immense priority when it comes to marketing their coin and as a direct result of that they haven't faded into obscurity like other coins such as Bitcoin Diamond have which had similar goals to BCH. However, with this massive capital, they have been using it mainly to misinform/confused more mainstream & casual users who may that understand the difference between the two coins as much or may assume BCH and BTC are the same things. Worse yet the main proponents of BCH also own many websites such as bitcoin.com and btc.com spreading misinformation through thereby slowly brainwashing users who may access the sites. This can be clearly seen by anyone who visits the current bitcoin.com website.

Let's imagine someone was a new user to BTC and they accessed the bitcoin.com website, the would be greeted with a simple explanation of bitcoin, however, along the way, there are many small subtleties that make it appear as BCH is the real BTC with the first one being the bitcoin.com wallet which displays BCH instead of BTC. This happens again when you scroll down past the "cryptocurrency news section" the website talks about how BCH is the true form of bitcoin then proceeds to gawk at how to buy bitcoin and set up a wallet for which they recommend the bitcoin.com wallet. (which is primarily a BCH wallet). Its little things like this that are meant to in a sense brainwash the average user that annoy me. And for this reason I personally deem BCH's marketing strategy unethical. edit: formatting was messed up

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Never liked BCH. Always thought it was a pump and dump coin by people with a lot more money than me

Good point.

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