'Other cryptocurrencies are downright scams...like Bcash''-@jhamel's Testimony to the Canadian Standing Committee on Finance FINA
Hamel had then posted on Reddit prior to giving the crypto testimony, writing, Spoiler: I'm gonna say Bcash is a scam and it's gonna be archived forever in the Parliamentary records (not a blockchain but still...) Donations are welcome,
Looks like Hamel's pandering statement was exactly that. Pathetic.
As another pointed out:
Not to mention the fact that in terms of any governing body trying to distinguish between legitimate tech and true scams, Bcash does not clearly distinguish itself as a 'scam' while leaving Bitcoin legit. Both Bitcoin and Bcash are susceptible to influence by bad actors with enough capital to create a wake. So while assumptions being made about the motivations of actors like Roger Ver might be correct, if you seek to have the government recognize a forked chain of Bitcoin as a scam, how do you anticipate they are going to evaluate the parent technology from which Bcash forked?
The point is there is nothing inherent to Bcash protocol that makes it a scam while Bitcoin is not.
It's not the protocol it's the people pushing it
BCH was a contingency plan led by bitmain the main people pushing it are miners that needed something to protect their investment in mining equipment it was not certain if BTC would do a PoW switch effectively bricking the mining equipment they had invested in.
Why do you think Jihan pushes for BCH but also advocates that it is different to BTC and both should survive and both have their own merits.... If one dies he has just lost a huge sales market that's why
Sorry but being run by and pushed by for profit companies to protect their investments makes it a scam
Bitmain etc own a HUGE chunk of BCH that has yet to be touched in the last 8 month and sooner or later it will move and there just is not enough liquidity to support this I think once the users that have been stockpiling start moving there will be a huge panic sell as this could be them preparing for a exit
