The Bitcoin fork ecosystem has had a tumultuous past couple of weeks, complete with multiple BSV delistings and various proponents speaking against the cryptocurrency.
The latest development from Bitfi however, has taken the spotlight away from Bitcoin SV after the popular cryptocurrency wallet announced that it will not be supporting Bitcoin Cash [BCH] on its wallet ecosystem. The official release from the company claimed,
“Management believes that Bitcoin Cash (BCH), while having a sound and useful technology, is operating a PR and advertising campaign that is confusing, especially to newcomers to the digital asset market. As such, Bitfi believes, it is acutely damaging and toxic to the industry if investors are not sure what the real Bitcoin (BTC) is.”
The company also cited the drama and confusion surrounding Bitcoin Cash and Bitcoin as one of the primary reasons behind the decision. Bitfi further targeted the Roger Ver-led Bitcoin.com, commenting that the portal was spreading ‘demonstrably false’ information about Bitcoin Cash being Bitcoin. The cryptocurrency wallet company slammed Bitcoin.com for destabilizing the cryptocurrency ecosystem and claimed that the consequences are “far-reaching.”
Jihan Wu, Co-founder of Bitmain, was also in Bitfi’s line of fire after he was called out for trying to control the price of Bitcoin. Bitfi stated,
“In addition, at the end of 2017, Bitmain, a Chinese hardware mining manufacturer, engaged in aggressive selling of large quantities of Bitcoin (BTC) into the price using the capital to prop up the price of Bitcoin Cash (BCH) as revealed in documents that were disclosed for Bitmain’s IPO filing. According to Bitfi, this was likely done in the hopes of flipping the price of Bitcoin (BTC) and Bitcoin Cash (BCH) in order to take over the name Bitcoin, which would then be controlled by several powerful companies and individuals.”
Another concern raised by Bitfi pertained to users being manipulated by statements given by Bitcoin Cash proponents, with some even sending Bitcoin Cash to Bitcoin addresses. The organization assured users and fans of the cryptocurrency that once the BCH camp addresses the problems on-ground, BCH will be usable again on Bitfi.
Source: Read Full Article