Bitfi Refuses To Support Bitcoin Cash (BCH)
Based on a recent report, Bitfi has made it known that it has taken a formal decision to not include Bitcoin Cash (BCH) to its wallet ecosystem as the company’s management is of the belief that although Bitcoin Cash (BCH) has a secure and serviceable technology, its Public Relations and advertising campaign are complex especially for clients who are new to the digital asset market. This makes it very destructive to the industry as investors will become unsure of what the real Bitcoin (BTC) is really like. The confusion between the two cryptocurrencies was reportedly one of the primary reasons why digital currency fell into a bearish market towards the end of 2017.
Bitcoin.com and Twitter account @Bitcoin of which both have many followers are operated by the same set of individuals who founded Bitcoin Cash (BCH). Even though there is evidence that Bitcoin Cash (BCH) is different from Bitcoin (BTC), information which claims otherwise is still in circulation. This is leading to disruption in the stability of the digital currency market and it is spreading really fast.
Also, according to documents which were revealed for Bitmain’s IPO filing, towards the end of 2017, Bitmain, a Chinese hardware mining manufacturer sold out large quantities of Bitcoin (BTC) into price rally and used the money to increase the price of Bitcoin Cash (BCH). Bitfi believes that this was done in order to manipulate the price of Bitcoin (BTC) and Bitcoin Cash (BCH) and let them come under the name Bitcoin which will then be under the control of several powerful individuals and companies.
Furthermore, Bitfi is of the belief it is due to the way which information is presented on a platform such as Bitcoin.com that makes many novice investors think that Bitcoin Cash (BCH) is the same thing as Bitcoin (BTC). There have been several reports that some users mistakenly transferred Bitcoin Cash (BCH) to their Bitcoin (BTC) address.
Bitfi believes that as a result of the way information is presented on properties like Bitcoin.com, many new investors come to believe that Bitcoin Cash (BCH) is Bitcoin (BTC), and indeed Bitfi receives several inquiries a week from users who have accidentally sent Bitcoin Cash (BCH) to their Bitcoin (BTC) address.