Bitcoin.com Faces Lawsuit Over Confusingly-Labelled Wallet

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.com is facing a lawsuit from over 1,000 people for fraud, according to Bitcoinist.com.

Bitcoin.com is a domain which reports cryptocurrency news, with an emphasis on Bitcoin and Bitcoin Cash, and offers a cryptocurrency wallet. Its website claims that more than 2.2 million wallets have been created. The company is registered in Saint Kitts and Nevis, an island in the West Indies.

As of April 2014, it has been owned by a man named Roger Ver. Ver is a famous and controversial figure in the cryptocurrency world. Nicknamed Bitcoin Jesus, and later Bitcoin Judas, he is most notable for spearheading the creation of Bitcoin Cash, which came into being via a hard fork of Bitcoin on the 1st of August 2017.

Bitcoin Cash is Bitcoin. Bitcoin Core is not. pic.twitter.com/DAqKNKYRLr

— Roger Ver (@rogerkver) December 20, 2017

Bitcoin Cash is similar to Litecoin in that it is designed to be a faster version of the clunky Bitcoin. What sets it apart from other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term is that it actually looks to replace its parent. Ver has demonstrated on many occasions how strongly he feels about this - he makes a point of referring to Bitcoin as 'Bitcoin Core' and once lost his temper at an interviewer who referred to Bitcoin Cash as 'BCash', a moniker which Ver doesn't approve of.

Roger @rogerkver, please stop calling Bitcoin, Bitcoin Core. No one else does this. Both https://t.co/VKB9ZGgQk8 website and mobile wallet are misleading new users with this bullshit. And it is especially hypocritical coming from you seeing how upset you are with the name bcash. https://t.co/ufjJDqDW1W

— Charlie Lee [LTC] (@SatoshiLite) February 13, 2018

Bitcoin Cash has not succeeded in usurping Bitcoin, but it is nonetheless a popular cryptocurrency which has gained widespread adoption. At the moment it stands at number four in the cryptocurrency league with a market capitalisation of almost $24 billion, according to coinmarketcap.com.

The lawsuit concerns the Bitcoin.com cryptocurrency wallet. The complaint is that the website has been misleading users that intend to buy Bitcoin into buying Bitcoin Cash. The Telegram group is called 'Bitcoin.com lawsuit/victims' and has 1,065 members.

Looking at the Google Play website where the wallet application can be downloaded, many of the users have indeed left negative reviews. Apparently the wallet functions well but a considerable number of customers purchased Bitcoin Cash when they in fact intended to buy Bitcoin.

As you can see from the above image, the layout could be confusing to a beginner. Bitcoin Cash is listed first and Bitcoin is labelled 'Bitcoin Core'. The tagline is "A simple, secure way to send and receive bitcoin."

However the coins are technically labelled correctly, so perhaps the word 'fraud' could be a little strong. That said, this is a subject which many people feel strongly about.

Imagine some really rich person buys "Bitcoin" from this website, then later on finds out they were actually sold rat poison. ?☣? #bitcoin pic.twitter.com/Hfw0GsTMWE

— Armin van Bitcoin ⚡ (@ArminVanBitcoin) April 23, 2018

One wallet review site (Coin Vigilance) calls Bitcoin.com "A Weird Place To Buy Bitcoin" and suggests that newbies use a wallet which makes things clearer.