No Support Given to Bitcoin Cash, Bitfi Speaks Out Over ‘Real Bitcoin’ Controversy

No Support Given to Bitcoin Cash
No Support Given to Bitcoin Cash, Bitfi Speaks Out Over ‘Real Bitcoin’ Controversy
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In recent times, the BZitcoin community has played host to a number of controversies from shocking delistings to those who feel that bitcoin itself must be shut down.

Problem for Beginners

The latest news streaming in from Bitfi on the other hand, have overshadowed the issue concerning Bitcoin SV following the shocking announcement that it will not support moves to buy Bitcoin Cash (BCH) on its platform. The official statement from the organization explained that the main issue with BCH is the nature of its public relations and advertisement campaigns. Bitfi believes the strategies of BCH can be quite problematic for the amateurs whose goal is to buy Bitcoin in the industry. For this reason, it is not offering any support to the brand.

Fueling the Controversy

In addition to the reasons that have been pointed out above, the organization also stated that the unnecessary controversy that Bitcoin Cash and Bitcoin have attracted also triggered the withdrawal. Bitfi is focusing its rage on attacking it for reportedly spreading untrue information that says Bitcoin Cash is the same as Bitcoin. It is this claim that really got the management of Bitfi angry and blasted for working against the cryptocurrency market. Bitfi insists the effects of such a move are wider than many expect.

Bitfi did not limit its attack to Bitcoin Cash alone. It also launched another salvo of attacks against Jihan Wu, one of the founders of Bitmain. It accused the Chinese business tycoon of attempting to regulate the price of Bitcoin. Bitfi gave details of the basis of the attack against Bitmain. According to Bitfi, in the last quarter of 2017, Bitmain decided to go ahead to sell massive quantities of Bitcoin with the aim of using the capital to push up the price of Bitcoin Cash (BCH). These details were reportedly gleaned upon via the documents that were used for the filing of the initial public offer of Bitmain.

Bitfi is angry that this move by Bitmain was made to change the price of Bitcoin (BTC) and Bitcoin Cash (BCH) in such a way that with time it will displace Bitcoin. Bitfi believes this is the selfish agenda of a few selfish people and interests and it is totally against it.

However, that is not just all; the scope of the controversy goes beyond that. Bitfi has raised another alarm that Bitcoin Cash is engaging in another unethical practice. It says that the promoters of Bitcoin Cash are deceiving the users by coming up with wrong statements. Bitfi says these individuals go as far as even transferring Bitcoin Cash to holders of Bitcoin all in a bid to grab a portion of the marker.

The enterprise says that users of the cryptocurrency will be able to use the ecosystem the way it should be once all these issues raised are properly sorted. Some analysts believe that these are really serious and heavy allegations and must be addressed by the parties accused of involving themselves in sharp practices.

About Ali Raza

A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.