Bitcoin.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 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
Why Your Enterprise’s Finances Rely on Employee TrainingGo to article >>
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.
— 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.