Marketplace confusion isn’t uncommon in the world of cryptocurrency. There are many digital currencies competing for investor attention, so it isn’t a shock to see newer cryptos try and attach its name to Bitcoin (BTC). Bitcoin Cash (BCH) has taken this one step too far in the eyes of most, becoming one of the most controversial topics in the world of digital currency as a result. Bitcoin.com – a website owned by controversial BCH-backer Roger Ver – has been accused of using the Bitcoin brand to trick investors into buying BCH.
Creating marketplace confusion
Those entrenched in all things cryptocurrency will be well aware that Bitcoin.com has absolutely nothing to do with Bitcoin. But, it’s not the same for those that have a limited knowledge of the crypto market. Standing up for anyone that has been caught out, the pro-BTC community has rallied. Duped users launched bitcoincomlawsuit.info – a website that is challenging the bootleg behavior of Roger Ver and Bitcoin.com.
BCH has met its match
Founded by Twitter user @MoneyTrigz, the group is making waves on Telegram, with it having 1,165 members at time of writing. Explaining the group, what it stands for, and what its goal is, group supporter Ragnar Lifthrasir said, “If you’ve lost bitcoin because of misleading language, ticker symbols, graphics, or photos on any Roger Ver website or wallet (like Bitcoin.com) please submit your report to: https://t.co/Tvk2YG4bju we also have a Telegram group.”
Donating to the cause
Helping get the cause off the ground, bitcoincomlawsuit.info will soon accept BTC donations, which will help them put together a legal challenge against Bitcoin.com’s deliberate marketplace confusion. Making matters worse, Bitcoin.com has furthered modified its interface to blur the line between BCH and BTC. Since its launch as a result of Bitcoin blockchain hard-fork last year, BCH has struggled to forge a brand of its own and as such has gone to extreme lengths to attach itself to the legitimate Bitcoin.
Questionable marketing practices
Angry users have been quick to point out that Bitcoin accepts both BCH and BTC wallets – even showing both cryptocurrencies’ logos in the same color. The site also refers to the legitimate form of Bitcoin as “Bitcoin Core”, which even presents further confusion between the two cryptos. Bitcoin.com is clearly attempting to deceive buyers, with its actions not going unnoticed. There is now a growing group of individuals that feel that such marketing practices are fraudulent.
The BCH backlash continues
BCH has taken a beating in recent months, as its controversial nature has put it in the spotlight for all the wrong reasons. Roger Ver – a leading BCH-proponent – has faced a Twitter backlash, with users challenging Ver’s aggressive anti-Bitcoin stance on a daily basis. Now, with a potential lawsuit looming, BCH could yet to be forced to answer questions surrounding its questionable marketing practices in a court of law.