Tag: BCH

975 People File Lawsuit Over Bitcoin Cash

By Eli Ridder | @EliRidder

Angered users of Bitcoin.com have launched a lawsuit over what they describe as misleading tactics carried out due to Bitcoin Cash, or BCH, being labeled as the central Bitcoin and the original, BTC, being labeled as a secondary Bitcoin Core.

The blur between BCH and BTC has led some to purchase the Cash edition while they were seeking the original Bitcoin, according to frustrated buyers. Several users claimed that the actions are tantamount to fraud, a basis for their lawsuit.

The lawsuit, with its digital home at Bitcoin.com Lawsuit, is made up of a group of some 975 individuals “from influential industry leaders to community volunteers [and] contributors” working to protect users from fraud and recover lost funds.

The conflict between BTC and BCH is a long-lasting fight, with supporters of the secondary, minority version, Bitcoin Cash, aiming to establish the newer currency as the main and top-tier Bitcoin.

The founder of Bitcoin.com and major pro-BCH figure, Roger Ver, holds a small minority of support for his view of Cash being the real Bitcoin, but skeptics of cryptocurrency take the conflict as preceding a digital currency “crash”.

On his Twitter, Mr. Ver promotes the successes of BCH, posting graphics, information pages and news interviews, claiming that “Bitcoin Cash has the roadmap that lead to Bitcoin’s original success”, and will lead to future success for the cryptocurrency.

Ver has attempted to frame the so-called “fork”, or split of Bitcoin into BTC and BCH, as an equal split over a sub-shoot from the mainstream, with Core and Cash being compared as a permanent separation.

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Bitcoin Cash Prepares For 32 MB Hard Fork

By Mason Mohon | @mohonofficial

On Friday, Bitcoin.com reported that Bitcoin Cash will soon be facing a hard fork, per the actions of developers.

On May 15, 2018, Bitcoin Cash will hard fork and its protocol consensus rules will be updated.

Bitcoin ABC lead developer Amaury Séchet hinted at a fork a few months back. Séchet explained then that it would be better to have a fork after the new year. Fast forward to this week, and we can see that version 0.17.0 has been released, which has the code to change consensus rules.

Because there is no specific block height announced for the fork to occur at, it is expected that we will see a similar situation to the BCH fork from BTC last year. The method it will use is the MTP, or “Median Time Past” method.

So on Tuesday, May 15 at 12:00:00 UTC, 2018 when the MTP takes place with the most recent 11 blocks equal to or greater than 1,526,400,000, the very next block will activate the hard fork.

Bitcoin ABC makes clear that those running an ABC node should upgrade, and a testnet will soon be available for other clients. Furthermore:

The most notable change is the increase of the maximum block size to 32 MB — There are also several bitcoin script operation codes (op-codes) being added or reactivated.

They have informed the community not to fear. They plan that this hard fork will go smoothly, similar to the one in November of 2017.

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