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WhalePanda @WhalePanda
, 6 tweets, 2 min read Read on Twitter
$BCH isn't a scam, but it kinda is. BCash isn't a scam because #Bitcoin is an open-source project and anyone can fork it (and sometimes it feels that almost everyone did at some point). The software isn't the problem, it's certain people behind it that are committing fraud.
BCash came into existence as an attempt to strong-arm Bitcoin users and businesses. It was backed and funded by 3 people: Roger Ver, Jihan Wu and Craig Wright. Again: no issue with them forking off, their choice and they want to try to take a different route, which is fine.
It resulted in a centralized coin (3 main backers) with centralized development (3/4 different "implementations" by devs who lack experience and all funded by the same people) and centralized mining. Nothing special about it, although claiming it to be decentralized isn't true.
Everyone started calling out CSW as what he is: a clear fraud, which is a good start but that's where it stops for most people. It isn't enough. Roger Ver and friends are clearly committing fraud every time they claims that BCash is Bitcoin and when they says "Bitcoin (BCH)".
"Fraud: wrongful or criminal deception intended to result in financial or personal gain." Only reason they call it Bitcoin is to lure in unsuspecting new people to dump their altcoin on (financial gain), simple as that. The "killing babies" narrative shows how desperate he is.
You want to create your own coin? Great, try to win support by your own achievements and merits, don't try to hijack a name and commit fraud. Disclosure: I still own some BCash that I plan to dump if it keeps pumping. ¯\_(ツ)_/¯
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