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Here’s Why Calling Bitcoin Cash “BCash” Is a Terrible Idea

Over the past few months, we have seen various discussions regarding Bitcoin Cash. One of the main “problems” involves how people tend to refer to this altcoin these days. In the Bitcoin community, it is often known as BCash, which creates a lot of bad blood with BCH supporters. However, it turns out BCash is an entirely different project. Whether or not the team wants to bank on Bitcoin Cash’s “success” with this name remains to be seen.

The BCash HYIP Gambling Project

Although it is unlikely the Bitcoin community will ever stop referring to Bitcoin Cash as “BCash”, there is a good reason to do so. By using this term too loosely, they inadvertently refer to a completely different project. In fact, there are multiple projects with the BCash name as we speak, none of which have anything to do with the alternative version of Bitcoin. BCash.games, for example, is a project which combines masternodes with gambling.

Moreover, BCash is actually undergoing an ICO as we speak. The last thing most Bitcoin community members want is to inadvertently shill an initial coin offering which has everything to prove. If people could put their egos aside every now and then, the whole “Bitcoin Cash is BCash” debate would never have ensued to begin with. Unfortunately, it is the situation we have to deal with right now, and it seems unlikely anything will change in this regard.

To put this into perspective, the BCash project we are referring to has nothing to do with Bitcoin Cash whatsoever. Instead, it’s a decentralized ecosystem for the gaming and casino industry. The BCash team wants to connect game developers, players, casinos and contributors through an API. It’s not necessarily something we haven’t seen attempted before, but more competition in this market can only be considered a good thing.

Although the legality of this particular ICO has yet to be determined, its team has unveiled some interesting features. More specifically, one of their projects involves what can only be described as a clear HYIP Ponzi scheme. Users who invest specific amounts will accrue interest of up to 30% after 190 days and have their capital returned to them. Schemes like these are always something to be very wary of, as they usually don’t end well for the people who invest in them.

It seems multiple HYIP schemes will be launched, differing in terms of their particular direction and “casino” theme. Rest assured a lot of people will lose their hard-earned money when investing in any of the current or future programs associated with this BCash project. At this rate, one would almost assume that the project exists to give Bitcoin Cash a bad name, although that may not necessarily be the case. It’s best to steer away from this particular platform, though, as its offerings seem very shady at best.

No one knows for sure what the future will hold for this specific BCash project. One thing everyone needs to keep in mind is that it has absolutely nothing to do with Bitcoin Cash. We can only hope the cryptocurrency community stops calling the popular altcoin “BCash”, as it is evident there are a few projects out there using the same name for less legitimate purposes. It’s an interesting situation well worth keeping an eye on, especially as far as the BCash HYIP Gambling Project is concerned.

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Winklevoss’ Gemini Crypto Exchange Exploring The Lucrative UK Market

While it may not compete with Binance as the largest exchanges in the world, Gemini crypto exchange is certainly among the most renowned. Founded and led by Tyler and Cameron Winklevoss, the exchange has recently had its stablecoin approved and now, it’s eyeing the UK crypto market. According to sources familiar with the matter, Gemini has already hired consultants to advise on the move to the U.K. With London being the European financial capital, the move will give Gemini a great boost in its global expansion especially in the wake of aggressive European expansion by some of the largest crypto exchanges. Targeting The U.K Market Gemini Trust Company has already hired consultants to advise on its entry into the U.K market, the Financial Times reported today, September 24. Citing two sources familiar with the process, FT reported that the exchange, which was founded in 2014, intends to set up shop in the U.K as it seeks to get its piece of the European market. According to the sources, Gemini is also close to filing an application with the U.K financial markets regulators. In the U.K, the Financial Conduct Authority (FCA) has been the most involved in the crypto sector despite lacking the full legal mandate to properly police the industry. In moving to the U.K, Gemini will be competing with San Francisco-based giant Coinbase which has continued to stamp its authority in the European markets with several key moves. Just three weeks ago, Coinbase announced that it had launched support for four new British Pound-altcoin trading pairs. The new trading pairs are meant to consolidate its position as one of the most convenient platforms to purchase crypto with fiat in the U.K. Coinbase also announced last month that it would integrate GBP support into its platform, giving its clients the ability to make same-day deposits and withdrawals. Coinbase has also applied for and received an e-money license from the FCA for its fiat operations as well as partnered with Barclays bank to facilitate easier payment to U.K clients. The U.K crypto market has been largely loosely regulated, with the FCA being the only organization that has made steps to enforce order in the industry. However, this could all be changing soon with U.K MPs urging the government to stamp its authority in the sector to protect investors from fraud and to prevent money laundering. In a report submitted to parliament last week, the MPs urged the FCA to take the lead in regulating the industry “as a matter of urgency.” While most countries have sought to formulate new laws to encompass the new asset class, the MPs advised against it, stating that “bringing crypto-assets into the scope of existing regulation, rather than creating a new framework specifically for the assets, would be the quickest way of doing this.” The report further urged the government to crack down on crypto exchanges in line with new EU anti-money laundering regulations and impose greater KYC requirements. Gemini’s move into the U.K will give it a big boost and could push its daily traded volume significantly higher from the 61st position it currently holds in global rankings. The post Winklevoss’ Gemini Crypto Exchange Exploring The Lucrative UK Market appeared first on NullTX.

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