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Is Bitcoin.com misleading people to buy BCH instead of Bitcoin?

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Janet F. Sanchez
Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

Let us start this article with the innovation of a cryptocurrency which shaken the world with its value. It was named as bitcoin. The value of this cryptocurrency reached an unexpected, nothing less than a miraculous height in the year 2017. In the same year, no of expected transactions for this digital currency started to be very high. However, bitcoin has very low scalability. While Visa is capable of doing around 24000 transactions in a second, bitcoin is capable of doing only 7!

Soon, the bitcoin community started two argue for its scalability. It divided the community into two groups. While one group was admired that scalability should be increased, the other was focussed that bitcoin was not born for high scalability. This conflict in ideas gave the rise of BCH i.e. Bitcoin Cash in August 2017.

So, basically, bitcoin.com diverged into two cryptocurrencies: BTC (Bitcoin) and BCH(BItcoin Cash). It should be noted that both bitcoin and bitcoin cash are completely two different cryptocurrencies. If you buy BCH and transact it in the misconception of BTC, you might lose all of your money. It is common doubt that both BTC and BCH are common but always keep in mind, this two although resembles same but is two completely different digital assets. In simple words, these two assets are as different as US Dollar and Euro!

 

How bitcoin.com is misleading people?

As stated above bitcoin and bitcoin cash are two different assets. They resemble and pronounce similarly, hence most of the people are in the misconception that both are same. Bitcoin.com is taking advantage of this confusion among the people. It is selling fake bitcoin. It is also misleading people to buy BCH instead of the original bitcoin. It is using various false and irrelevant information in media through various medium to appreciate bitcoin cash and attract people to buy it in assumption as they are the real bitcoin. But this is completely wrong. If a person is buying a BCH, he/she is definitely not buying the original bitcoin. Bitcoin is taking advantage of the similar names of the two crypto assets and misleading the consumers to buy BCH instead of the original bitcoin.

The reason for this misleading information is quite simple. The value of BTC on February 2, 2019, is around  $3434.40 whereas the value of BCH on the same date is around $ 117.99. Clearly, Bitcoin is having a higher value than the BCH. So, bitcoin.com is trying to sell as much as BCH it can. It will lead to more economic benefit for the company. This is the reason, it is misleading to buy BCH instead of BTC.

Let us look at the misleading facts spread by bitoin.com using Roger Ver.

 

Roger Ver making people fool to buy BCH:

Before, how this person is making fool to inspire to buy BCH rather than BTC, we must know who he is.

Roger Ver is a famous personality in the crypto space. He is one the early supporter of bitcoin. He aimed that it could be an economic lifeline currency. He is the owner of bitcoin.com and he was the leading face for gaining the support of people for buying bitcoin. He is also known as ‘Bitcoin Jesus’ due to his contribution to bitcoin during the initial innovation of bitcoin. But nowadays, he is promoting BCH (Bitcoin Cash) rather than BTC. He is misleading people to buy the BCH and making them fool by convincing them to trust on BCH more than BTC. No one has ever expected such a misleading contribution by the person, they treat as the Jesus of Bitcoin. Let us have a small fact supporting us.

We will be concentrating with two of statements of Roger Ver

  1. “I bought thousands of BCC with my BTC so far, how about you?”. Date of statement: 10 August 2018
  2. “I haven’t sold a single Bitcoin for Bitcoin Cash up until yesterday and I sold about a dozen Bitcoins for Bitcoin Cash”. Date of statement: 25 August 2018.

Wait, did you get confused? You would have surely in disbelief after reading the above statements. I first statement given by Roger Ver on 10 August 2018, he said that he had bought 1000 of bitcoin cash with his bitcoin and asked to have others did so? In the next statement made by him on 15 days later, he refused that he hadn’t sold any of his BTC for BCH till 24 August and he had bought BCH only worthy on 12 BTC. Well, this is completely misleading. This is completely a false move done by the owner of bitcoin.com in perspective for the business’s own profit by misleading people. This is surely not expected from a person like Roger Ver

 

In this article, we got to know how Roger Ver is misleading people to buy BCH rather than BTC for his own profit. We also get to know how bitcoin.om is selling false bitcoin. So, before buying bitcoin from the bitcoin.com, make sure that you are buying original bitcoin, not BCH i.e. Bitcoin Cash otherwise, you could lose all of your money. Be aware of Roger Ver and bitcin.com as for them, it is only the profit of business matters and for this, they could misguide their customers.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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