• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Opinion

Billionaire Investor: Bitcoin Cash is Not Bitcoin, Market Justifies itself

newsbtc by newsbtc
3 years ago
in Opinion
Reading Time: 2min read
Billionaire Investor: Bitcoin Cash is Not Bitcoin, Market Justifies itself
Advertisement

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. ??

— Michael Novogratz (@novogratz) May 5, 2018

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Tags: bitcoinBitcoin CashBitcoin Cash investmentBitcoin forkbitcoin investmentNovogratz
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Hoskinson Tweets Birds Again: Is a Cardano Announcement Coming Soon?

Hoskinson Tweets Birds Again: Is a Cardano Announcement Coming Soon?

6 days ago
crypto

Traditional Finance and Crypto Are Converging – That’s a Very Good Sign

2 weeks ago
Meet the Influencers Bringing Blockchain To Mainstream Consumers

Meet the Influencers Bringing Blockchain To Mainstream Consumers

2 months ago
2021 Is Bitcoin’s Year: How to Get in on the Digital Gold Rush

2021 Is Bitcoin’s Year: How to Get in on the Digital Gold Rush

3 months ago
Bitcoin is Going Mainstream, Why The Doubters Will Be Kicking Themselves

Bitcoin is Going Mainstream, Why The Doubters Will Be Kicking Themselves

4 months ago
Why Mainstream Media is Going Hot For Bitcoin

Why Mainstream Media is Going Hot For Bitcoin

5 months ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Two Leading Russian Media and PR Agencies United Into One Full Cycle Advertising Agency

April 9, 2021

Southampton FC Extend Partnership Deal with Blockchain Leader the Coingaming Group

April 9, 2021

Omni.ai Releases Whitepaper for Alternative All-Inclusive and Revenue-Sharing Social Media Platform

April 9, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.