Rogers: Bitcoin Cash

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What is Bitcoin Cash?

Bitcoin Cash (BCH) is one of many forks of Bitcoin (BTC). There is nothing particularly special about it but most of it's code changes are largely regarded as unnecessary or badly thought through.

Transaction fees?

"BCashers" often claim Bcash has low transaction fees, but this is because they measure transaction fees in dollars. If BCash's price was equal to that of Bitcoin (BTC), its fees would actually be higher. Most recently Bitcoin (BTC) actually had lower transaction fees relative to its value.

Which is the real Bitcoin?

The Fake Roger claims that BCash is the real Bitcoin, an entirely false argument based on nothing. It is just one of many forks of Bitcoin supported by BCashers, if it had won the vote leading up to it's fork, it would be known as "Bitcoin (BTC)". It lost the vote 90-10. The 10% votes are almost entirely owned by the company "Bitmain".

A well crafted scam

BCash has been carefully crafted from the ground up to appeal to cryptocurrency newcomers that don't really understand what Bitcoin is or what makes it the biggest Cryptocurrency.

BCashers chose to add the word "Cash" to Bitcoin specifically just to keep quoting the original Bitcoin (BTC) whitepaper and claim it is "Satoshi's vision".

So what is Core?

The Fake Roger also started a marketing push to add "Core" to Bitcoin (BTC), again quite a clever scamming move because it's easy to convince people for these reasons:

  • BTC has a "C" as the third letter, easy to convince newcomers that the "C" stands for Core
  • The official wallet/node software for Bitcoin (BTC) is called "Bitcoin Core", it's very easy to use malicious SEO practices and social manipulation to convince newcomers that "Core" is the name of the currency because of this.
  • Most Bitcoin (BTC) developers work on Bitcoin Core, so it's easy for BCashers to spread misinformation that there are "Core Devs" that work on this "old project" called "Bitcoin Core".
  • The Fake Roger owns the website "Bitcoin.com" and the Twitter handle "@Bitcoin", and uses well crafted misinformation to call Bitcoin (BTC) "Bitcoin Core" on every page of this website and most tweets. Until recently the website even called BCash "Bitcoin" and Bitcoin (BTC) "Bitcoin Core"
  • Most newcomers don't know that "Core" is a common programming term to describe the software engine which runs something. "Bitcoin Core" is simply the open source software which enables the use of the "Bitcoin (BTC)" currency/network. It is supported by the "Bitcoin (BTC)" community minus "BCashers".

The Original Chain

BCashers claim [1] "Bitcoin Cash kept the original chain running, making it the real bitcoin." and that "Bitcoin (BTC) is a fork and Bitcoin Cash is the original blockchain" because "Bitcoin is a fork, with the network considerably changing in a fundamental level after segwit’s activation".

If this were true then "Bitcoin Cash" code would not have changed since Bitcoin Core 0.1. In fact, based on this argument, BCash should be called "Bitcoin Core (BCH)" and Bitcoin would be called "Bitcoin (BTC)". But this is not the case, as BCash forked from the "Bitcoin Core" software code at 0.15[2], and is completely different from Bitcoin Core 0.1.

So what really happened?

BCash (Bitcoin Cash BCH) is just one of many forks of Bitcoin (BTC), supported by a small group in the community that disagrees with the majority.[3][4] The real reasons for it's chain split are not publicised to the community.

  • Bitmain would have to upgrade their miners as "ASICBOOST" is not compatible with Segwit. ASICBOOST is a way of exploiting an old bug in "SHA-256" [5] that was fixed in Bitcoin Core 0.15.
  • Bitmain are a greedy company, instead of upgrading their miners, they decided to keep all of these and roll their own cryptocurrency.[6] They do mine Bitcoin (BTC) too, just on brand new miners.