Bitcoin Cash Founder Roger Ver “Allegedly A Scammer” According to One Pissed Off Redditor

Roger Ver, the founder of Bitcoin Cash, is no stranger to controversy. Whenever he says something, the crypto community, reacts very strongly to it. The reason is simple: For the longest time, Ver has tried to brainwash people into believing that bitcoin cash (BCH) is the actual bitcoin core (BTC).

Not for the first time, Ver tried doing the same again. A user left an angry comment on the Bitcoin website stating, “Very naughty and misleading website! When I click on the BCH exchange price on top, it shows the bitcoin core graph, not the BCH price! All the statistics shown are BTC! Very confusing for newcomers who assumed to ‘buy the bitcoin they saw on TV’!”

In response, Ver said, “We are working on fixing all of those things and promoting bitcoin cash as bitcoin. It takes time to update everything, though.”

The exchange was posted on Reddit by a user, who goes by the name ayanamirs, who allegedly said “Roger Ver is a scammer confirmed.”

Source: Reddit

Although Roger Ver keeps posting screenshots of how Bitcoin Cash is doing better than Bitcoin, it could not be farther from the truth. Chainalysis, blockchain analytics firm, recently put forward a report, stating that Bitcoin Cash is not commercially viable as Ver states it is. Reviewing companies such as BitPay, Coinify, and GoCoin, found that Bitcoin Cash payments slumped to $3.7 million in May from a high of $10.5 million in March.

Going by what Kim Grauer, who is a senior economist at Chainalysis, said to Bloomberg, “There are fewer users of Bitcoin Cash, fewer holders. Adoption in commerce has been low, partly the result of concentrated ownership.”

One of Ver’s latest tweets proving how Bitcoin Cash is superior to Bitcoin was by bringing up the fact “Bitmain earns more money in a single month than @Blockstream has in all the years it’s been “operating”.The truth is undeniable: The smart money is backing Bitcoin Cash.”

In our opinion, using Bitmain as an example is not the smartest move to prove his point. Bitmain’s reputation, at the moment, is not exactly crystal clear.

Last week, Bitmain bought almost $600 million of the total supply of BCH, which led to a fair amount of outrage in the community but also led to price of BCH shooting up.

Last month, Bitmain was in the news when it courted controversy about alleged ‘secret mining pools.’ However, the Chief Executive Officer (CEO) of the company, Jihan Wu had categorically denied operating secret mining pools in an interview with Fortune, saying, “No, it never happened. We have a small-scale test. We don’t do that. That is not our strategy.”

However, in the same interview, Wu had doubled down on his claim, saying, “If we develop hardware, we just release and sell it on the market. Right after we have sample machines working, we start sales to the market. We don’t have such kinds of advantages.”

Whether there is an unholy nexus between Bitmain and Bitcoin Cash, is something only the concerned parties would know.

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Bitcoin Cash Use in Commerce Sees Significant Decrease

A review of payments received by the world’s 17 largest crypto exchanges has shown that Bitcoin Cash (BCH) use in commerce has decreased, according to blockchain analytics firm Chainanalysis, Bloomberg reported August 20.

A group of analysts from Chainanalysis found that BCH payments dropped to $3.7 million in May from $10.5 million in March, while the volume of Bitcoin (BTC) payments was estimated $60 million in May, down from a high of $412 million in September. Kim Grauer, senior economist at Chainalysis, said in a phone interview with Bloomberg:

“There are fewer users of Bitcoin Cash, fewer holders.”

This year, the BCH price decreased by 75 percent, while BTC dropped by about 55 percent. Grauer sees “concentrated ownership” as the reason for the low BCH adoption rate, where almost 56 percent of the cryptocurrency is controlled by 67 wallets that are not located on exchanges.

Between 10,000 and 100,000 BCH are held by two wallets. Grauer said it is possible that “the wealthiest holders are the ones sending a lot of the traffic to merchant services.”

BCH appeared a year ago after a hard fork from the BTC blockchain. While the launch of BCH caused controversy in the community, BTC.com vice president of business operations, Alejandro de la Torre told Cointelegraph about the importance of the fork:

“The ability to make forks while keeping the community aligned was a great achievement. By providing much greater bandwidth per block by first increasing to 8 MB and then again to 32 MB. This additional room is more than what is needed right now, but BCH seems to be looking ahead and getting ready to process high volumes of traffic. The greater block size also enables BCH to store more information in each transaction, giving the blockchain space to write smart contracts on-chain at low costs.”

According to data from Coinmarketcap, even with the recent decline BCH is still the fourth largest cryptocurrency, with a market capitalization over $9 billion. At press time, BCH is down almost 9 percent and is trading around $522.