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Controversy is not difficult to come by in the world of cryptocurrency. Bitcoin Cash is a very successful fork of Bitcoin. Even so, some people are trying to trick the masses into thinking it is the real Bitcoin. Michael Novogratz is one of the many people opposing this train of thought.
Novogratz Sees Things Clearly
Given the success of Bitcoin Cash, there is no reason why these tricks and shenanigans are needed. It is a different version of Bitcoin which seems to have gained a loyal following. Even so, there are some individuals who preach how BCH is the one and only Bitcoin. These debates have gone on for some time now, yet each a new level of worry every now and then.
Enough already. Bitcoin core is BTC. It is a store of value. It is digital gold. It’s market cap dwarfs bitcoin cash. If you want to be a payments currency by definition you need to have stable value. So why own it. ??
— Mike Novogratz (@novogratz) May 5, 2018
The tweet by @Bitcoin clearly shows the lack of sensibility among some BCH supporters. While one can agree Bitcoin isn’t perfect, the same applies to Bitcoin Cash. Bitcoin has the appeal, market cap, and mining support. Bitcoin Cash has none of those factors, yet it is still successful in its own regard.
Michael Novogratz isn’t too happy with this debacle either. While Novogratz is a cryptocurrency-friendly individual, he doesn’t hesitate to call out shenanigans either. Bitcoin is a store of value and digital gold, in his opinion. That doesn’t mean BCH can’t achieve these goals in the future. However, this current approach of diluting the truth and reality is not the right way to go.
Bitcoin Cash “Tactics” Become Stranger
It is not the first time people openly oppose the “Bitcoin Cash is Bitcoin” discussion. Novogratz is the latest to do so, but certainly not the last. Earlier this year, Erik Voorhees made it clear he is not a “backer” of BCH, nor does he want to be portrayed as such. One of his comments on forking Bitcoin was taken out of content and used for BCH propaganda by some supporters.
Roger – please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn't. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.
— Erik Voorhees (@ErikVoorhees) April 27, 2018
In the end, it is not hard to see which coin is Bitcoin and which isn’t. The currency with the highest hashrate, biggest market cap, and market sentiment is Bitcoin. Everything else isn’t, but that is not necessarily a bad thing. Bitcoin has the first-mover advantage, yet no currency should even attempt to imitate it. Diversity is key in the financial sector and cryptocurrency is no exception.
As long as individuals such as Michael Novogratz can tell truth from fiction, no real harm is done. Novice cryptocurrency enthusiasts may struggle to distinguish between the two. The market clearly shows BTC is Bitcoin and BCH is an altcoin. That situation remains in place until something drastically changes. Whether or not that will happen, remains to be determined.
Marten Chuzzelwit 
FancyButterfly 
Ilan Lichtnaier Gil 
Frank 
Robert Nasiadek 
Joe Azarcon 
It would be logical that Bitcoin Cash is just as much Bitcoin as Bitcoin Core or any other branch of Bitcoin.
Bitcoin is defined as any branch continuing the original Blockchain, whatever fork that may be.
You gotta be kidding me or someone is paying you?
My conscience, I get paid in a spiritual coin for speaking the truth as I see it.
So, say I steal your test results, and change my name on the test sheet. You accuse me of theft, so I go to the Dean and charge a complaint, saying that any test is just a test, as long as it has always been that test, regardless to who solved it or stole it afterward, since the concept of stealing cannot apply to something that was never owned, hence “The Test”.
Your “conscience” such that you hide behind, created an alternate reality, where intellectual property logic and ethics are twisted to fit your agenda. Bitcoin Gold is also “Bitcoin”, and so is “Silver”, Ultimate”, Anonymous”, “Private”, “Diamond”…they are all “Bitcoin”, with no differentiation, including “Cash”. If so, why are you Bcash campers all fighting for – it’s just a name, and ALL forks are merely Bitcoin, right?
Do you even realize the very essence and purpose of naming something? Even when a father names his newborn by his own name, he adds “Junior” to it. Your comment sounds like a conscienceless propaganda mindfuck to me.
That’s quite a lot of suppositions.
(Are your test results really publicly posted online like an open source blockchain?)
Never mind, try this:
Suppose because the various Bitcoin forks use the same Blockchain data up until the fork, they all have the same right to use the blockchain…hmmm?
For clarity we could give those forks suffixes like Gold or Core or Cash, etc.
Obviously they all have as much right to use an open source blockchain as anybody…!
As an example, think about how ridiculous it would be for Ford Automobiles to attempt a lawsuit against Chevrolet Automobiles or Chrysler Automobiles for using the term “Automobile” to describe themselves.
Yeah, that’s just plain silly.
The Bitcoin forks all share the common blockchain that Nakamoto started.
When the first blockchain fork occurred, the term Bitcoin became a generic term for any chain using the original Bitcoin blockchain as it’s seed.
it doesn’t matter who’s blockchain is the longest or the closest to the original white paper, or even “the best”, they all get to use the term Bitcoin if they use the original Bitcoin Blockchain.
If we were to judge by merit, to determine which variant gets to use the term Bitcoin, my fork Bitcoin Marten is the clear winner.
At the time of the fork every Bitcoin Marten user was “airdropped” a puppy.
Yes a puppy!
Now that we’ve settled that, Bitcoin Cash will be referred to as just “Cash”, Bitcoin Core as just “Core” and Bitcoin Marten will be reverently be referred to as just “Bitcoin”.
Great talk, I’m glad we could clear things up.
Both will survive and for different reasons. the “Real” cryptocurrency is irrelevant. No Currency or Money is “Real” it’s an abstract construct humans invented to do trade.
That’s just lies and propaganda. Fortunately, like the article says, smart people don’t fall for this crap.
Bitcoin cash propagandists should listen and stop this nonsense. It is hurting the whole ecosystem. Bitcoin and Bitcoin cash can co-exist and fulfill different purposes, and should take aim not at each other but the whole financial system out there. There is so much space to grow- 300 trillion isn’t peanuts, and both can very well absorb any portion of that.
You’re totally right!
I don’t care about the politics involved, the logical inconsistencies are what bothers me.
It’s just plain silly to say one branch of Bitcoin has the exclusive right to use the name Bitcoin and all the others have to use something else.
They all come from the common Blockchain started by Saint Nakamoto, so it follows that they all have as much right to use the common descriptor “Bitcoin”.
Now that there’s more than one branch of Bitcoin, for clarity’s sake,I would like to see suffixes used on all branches of the Blockchain.
Bitcoin Cash or Bitcoin Gold or Bitcoin Marten are all just as much Bitcoin as Bitcoin Core or any other branch of Bitcoin.
Bitcoin is defined as any branch continuing the original Blockchain, whatever fork that may be.
You can’t logically assert that one automobile munfacturer produces a vehicle that is more “car” than the others.
That would be silly.