Jun 15, 2018 at 05:40
Jun 15, 2018 at 05:40 UTC
A Hard Fork of A Hard Fork: BTCC
There’s a new product on the market and it is the cryptocurrency Bitcoin Core (BTCC). A new cryptocurrency, which ironically enough came about from a fork of Bitcoin cash. Well, a hard fork of a Bitcoin cash hard fork that is.
So here’s the backstory. After Bitcoin cash’s November 2017 hard fork, which was executed to fix the cryptocurrency’s mining algorithm, a small group resisted, splitting the blockchain and creating a new project called “Bitcoin clashic.” But because Bitcoin clashic didn’t address the issue, it faded away after a few months.
However, another small group of developers forked Bitcoin Clashic – fixing its issues but leaving the updates from Bitcoin cash’s most recent hard fork – a couple weeks ago to create Bitcoin core (BTCC).
In the words of BTCC Twitter account: “We are the cool cousin that’s a good wingman. Unlike the other one hating and trying to steal ur [sic] girl.” This shows that BTCC is supposed to complement Bitcoin (instead of competing with it as Bitcoin cash is generally positioned as), but also that the BTCC developers are, in part, trolling legendary crypto investor and Bitcoin cash booster Roger Ver.
Ver has made it his mission to paint Bitcoin cash as the “real” Bitcoin – a protocol he argues better represents what Satoshi Nakamoto, the creator of Bitcoin, would have wanted. Though it’s not the original chain, Ver quite often renames Bitcoin, “Bitcoin core” (after the name of the team behind Bitcoin’s main software implementation), even going so far as to label Bitcoin cash, “Bitcoin” and Bitcoin, “Bitcoin core” on his website Bitcoin.com.
Although no one has a trademark over the Bitcoin name, many are enraged by Ver’s actions, arguing that his categorizations will confuse new investors. And the developers behind BTCC agree with those opposed to Ver.
The real BTCC website (which has since been altered) trolled Ver by claiming that BTCC is the very currency Ver was really talking about when he talks about the “real” Bitcoin. Even the cryptocurrency’s main block explorer is called “truevisionofsatoshi.com,” referencing a tagline that many Bitcoin cash supporters have taken to.
Since trolling is a popular method for showing disdain in cryptocurrency circles, BTCC is getting plenty of attention. A Bitcoin subreddit moderator who goes by the name of BashCo said that the cryptocurrency has an important role to play too since it takes attention away from what many claim are fraudulent acts of rebranding by Ver. “BTCC is interesting to me because it disrupts malicious attempts to rebrand Bitcoin in order to promote an imposter coin.”