Bitcoin Cash criticised for branding itself as bitcoin

     On October 17, released a controversial statement which claimed that Bitcoin Cash is Bitcoin. In response, leading industry experts including Litecoin creator Charlie Lee offered harsh criticism.

     Litecoin creator Lee said: “A lot of newcomers are going to be misled by This article is so full of lies and FUD. Not having replace-by-fee does not make unconfirmed transactions safe. Also confirmed transactions are irreversible even with SegWit. SegWit signatures are not removed from the transactions. It’s just the transaction data structure that’s different. It’s just as secure. More Pretty much every other line in that article is FUD and misleading. It’s very much a hit piece on Bitcoin Core and SegWit. Shame.”

     As Lee explained above, Bitcoin Cash is not Bitcoin. Bitcoin is the original Bitcoin blockchain which is currently known as “Bitcoin” and “BTC.” Even after SegWit2x debuts in November, there is a higher probability of the current version of Bitcoin remaining as the majority chain, as miners do not decide the value and market cap Bitcoin, users and investors do.

     Lee further emphasized that the end result is not important. It is not morally and ethically correct to deliberately confuse newcomers in the Bitcoin and cryptocurrency markets. He also said that “It’s not about who wins. Confusing newcomers to bitcoin is not good”.

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Written by Brad Chillum

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