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With the current cryptocurrency price dip underway, t’is the season to bring back the focus to what really matters: the underlying utility that gives cryptos value in the first place. Across the board, fad coins are dropping off and schemes are exposed. In the end, only those with utility that grows, adapts and make a valuable contribution to the ecosystem will remain standing.
In this vein, we would like to use this blog to celebrate the early adopters, developers and promoters of, what we believe to be one of the most promising crypto technologies on the market: the first and only remaining chain to fulfil the promise of a truly peer-to-peer electronic cash system: Bitcoin Cash.
While the hard fork of six months ago caused some confusion in the market, the following key individuals, organisations, exchanges, and wallets have contributed their voices to get the news out that Bitcoin Cash is the real Bitcoin.
This one’s for the early adopters. Cheers!
On 11 November, Gavin Andresen (Satoshi Nakamoto's first choice to take his place as lead developer of Bitcoin) tweeted his support for Bitcoin Cash as the real Bitcoin.
“I consider BCH a legitimate contender for the bitcoin name. I consider bitcoin's *failure* to raise block sizes to keep fees reasonable to be a large (non-consensual) change to the "original plan", morally tantamount to a hard fork.”
In November 2017, Vitalik Buterin, Cofounder of Bitcoin Magazine and Creator of the Ethereum Blockchain, tweeted his view that Bitcoin Cash adheres to the original Bitcoin vision.
While British-American computer programmer, businessman and crypto-influencerJohn McAfee openly supports the Bitcoin Cash team, his position does not get clearer than this tweet on the 11th of November.
“We consider ourselves blockchain agnostic and will use whatever technology gets the job done best for users, which means reliable payments, low fees, and easy onboarding and offboarding. Bitcoin is the best choice for Yours.”
In November 2017, Cofounder and CEO of cryptocurrency-based content platform Yours, Ryan X Charles published an official statement on why they chose Bitcoin Cash for use on the platform. Charles explains that while the platform used to accept BTC, the rise in fees meant that it was no longer suitable for the micro-payments that the platform depends on. Charles lays out a sevenfold argument for Bitcoin Cash’s superiority for their case use, including low fees, a commitment to on-chain scaling, and a rapidly growing economic infrastructure.
At present, Roger Ver’s name is more or less synonymous with Bitcoin Cash. Nonetheless, it is worth backtracking through the “world's first Investor in Bitcoin startups” recent twitter history to see the reasoning behind his progression from openness towards Bitcoin Cash, to outright support for its claim as the rightful heir to the bitcoin throne.
Starting in a September Bloomberg interview, Ver admitted:
“I’ve slowly been moving some of my funds into Bitcoin Cash. I think Bitcoin Cash is much more inline with the original vision of Bitcoin. Our bitcoin.com wallet supports both Bitcoin Cash and Bitcoin legacy, but I’m a much bigger fan of Bitcoin Cash.”
In October, Bitcoin.com published a statement saying that,
“Bitcoin Cash (BCH) is the only fork of Bitcoin that resembles a natural continuation of the original Bitcoin invention. All Segwit chains have altered so many fundamental properties of Bitcoin that it seems a stretch to refer to any of them by the Bitcoin name.”
“The Bitcoin.com pool has stopped accepting BTC for cloud mining contracts. (Now BCH only.) We will be updating the ticker to BCH across the site in the coming days. There’s still lots more work for us to do on Bitcoin Cash. Stay tuned!”
Also in November, Ver echoed Andresen’s sentiments, tweeting that:
“BitcoinCash is what I started working on in 2011: a store of value AND means of exchange.”
In December 2017, Bitcoin.com’s other cofounder, Emil Oldenburg added his thoughts on the matter:
"An investment in bitcoin right now I would say is the most risky investment you can make. It is an extremely high risk. I've actually sold all my bitcoins recently and switched to bitcoin cash."
On the 9th of November, crypto-influencer Rick Falkvinge, tweeted about his company’s switch-over to Bitcoin Cash operations.
“Bitcoin Cash is Bitcoin 2.0… Bitcoin Cash has done everything true to original scaling plans for Bitcoin. No deviation whatsoever.”
Early in November, author at CoinGeek, Eli Afram published an article titled “Bitcoin Cash is Bitcoin 2.0” that retells the story of Bitcoin’s origins, and concludes that Bitcoin Cash is the only chain that fulfills Satoshi’s vision.
Jeff Berwick, founder of The Dollar Vigilante and host of the popular video podcast, Anarchast, tweeted his support for Bitcoin Cash in November 2017.
“...it is clear to us that the Blockstream fork of bitcoin diverges so radically from the ideas presented in the Bitcoin white paper, that it is an evolutionary dead end.”
“Rather, we have made the decision to support the only bitcoin fork with a postive (sic) utility momentum, which is Bitcoin Cash.”
“We will not add future support for the Blockstream fork of bitcoin (“Bitcoin Legacy”), and will be deprecating it entirely at some future point in time to be determined. Developments have revealed it to be a dead end. At such a time, we will refer to Bitcoin Cash as Bitcoin only...”
In January 2018, the BlockExplorer team announced their “support of Bitcoin (Cash) Over Bitcoin Legacy”. In the announcement, it elaborated that they would be referring to Bitcoin Cash (BCH) as "Bitcoin" in future and would not be providing support for BTC or “Bitcoin Legacy” any longer. Bitcoin Block Explorer is an open source web tool that allows you to view information about blocks, addresses, and transactions on the Bitcoin blockchain.
“We decided to switch to Bitcoin Cash. We firmly believe it keeps true spirit of Satoshi’s original white paper – a peer-to-peer electronic cash system. As a result, we are happy to inform our customers that Eruce is sticking with Bitcoin Cash as a payment method for albums purchases. “
At the end of December 2018 in a statement titled “Bitcoin Cash Accepted Here”, digital music service Eruce announced their decision to accept Bitcoin Cash as its official currency for album order payment. While the service previously accepted Btc as payment method, Eruces customers’ struggles to obtain payment confirmation led them to reconsider, and ultimately switch to Bitcoin Cash.
"BITCOIN CASH IS BITCOIN NOW"
In November 2017, Li Ang, head of China-based bitcoin mining company Canoe Pool, sent out a statement titled BITCOIN CASH IS BITCOIN NOW.
"2x fans" are moving both funds and mining hardware to bitcoin cash… BTC is going to die"
Jiang Zhuoer, founder of bitcoin mining pool BTC.Top in conversation with Coindesk on 12 November.
On 1 November 2017, Zhuoer told Coindesk: "To be honest, I do not care about bitcoin now, bitcoin cash is bitcoin. I earn by mining bitcoin, [selling it] and buying bitcoin cash. We mine for the most profit and buy bitcoin cash."
“BTC is going to die… I think more and more bitcoin holders are starting to understand what is the real bitcoin..." Hapio Yang, CEO of ViaBTC
“The reason we chose BCH over BTC is that it has much faster transactions with low fees and better performance in terms of usability,” Sara Ouyang, Chief Operating Officer at ViaBTC
Hapio Yang, CEO of mining pool operator ViaBTC, indicated to Coindesk that he believes that businesses and investors were migrating funds to Bitcoin Cash. Early in December, VIABTC announced that they would be launching a new crypto-to-crypto exchange platform that would be based on Bitcoin Cash trading pairs. In a statement to Trustnodes, Chief Operating Officer Sara Ouyang revealed that the decision was based on Bitcoin Cash’s faster transaction times, lower fees and better usability compared to Btc.
“Technically, Bitcoin is a fork and Bitcoin Cash is the original blockchain.”
In January 2018, researchers from The National Institute of Standards and Technology of the United States Department of Commerce published a sixty-page high-level overview of blockchain technology and cryptocurrencies. In the report, the agency that “Bitcoin Cash is the original blockchain while BTC is the phony.”
“The vision of the original Bitcoin white paper written by Satoshi Nakamoto calls for a peer-to-peer electronic cash system. That is a powerful vision, and SBI Group will devote resources to enable a future world where Bitcoin Cash is used globally for daily payments.”
Yoshitaka Kitao, Representative Director, President & CEO of SBI Holdings
Early in December 2017, Japan’s financial giant, SBI Holdings (with a global market cap of almost half a trillion) voiced strong support of Bitcoin Cash. Kitao’s statement follows the group’s recent announcement of their plan to build a new financial ecosystem based on cryptocurrency in order to connect that with SBI’s current financial ecosystem.
Due to growing acceptance that Bitcoin Cash is the continuation of the original Bitcoin chain, the list of Bitcoin Cash adopters is bound to grow to the point where it would make more sense to list the exceptions. To speed up the process, we would like to encourage all early adopters to support the cause via the Bitcoin Cash fund, and to be a good friend and give your mates their first stash of Bitcoin Cash.