Over the past few months, we have seen various discussions regarding Bitcoin Cash. One of the main “problems” involves how people tend to refer to this altcoin these days. In the Bitcoin community, it is often known as BCash, which creates a lot of bad blood with BCH supporters. However, it turns out BCash is an entirely different project. Whether or not the team wants to bank on Bitcoin Cash’s “success” with this name remains to be seen.
The BCash HYIP Gambling Project
Although it is unlikely the Bitcoin community will ever stop referring to Bitcoin Cash as “BCash”, there is a good reason to do so. By using this term too loosely, they inadvertently refer to a completely different project. In fact, there are multiple projects with the BCash name as we speak, none of which have anything to do with the alternative version of Bitcoin. BCash.games, for example, is a project which combines masternodes with gambling.
Moreover, BCash is actually undergoing an ICO as we speak. The last thing most Bitcoin community members want is to inadvertently shill an initial coin offering which has everything to prove. If people could put their egos aside every now and then, the whole “Bitcoin Cash is BCash” debate would never have ensued to begin with. Unfortunately, it is the situation we have to deal with right now, and it seems unlikely anything will change in this regard.
To put this into perspective, the BCash project we are referring to has nothing to do with Bitcoin Cash whatsoever. Instead, it’s a decentralized ecosystem for the gaming and casino industry. The BCash team wants to connect game developers, players, casinos and contributors through an API. It’s not necessarily something we haven’t seen attempted before, but more competition in this market can only be considered a good thing.
Although the legality of this particular ICO has yet to be determined, its team has unveiled some interesting features. More specifically, one of their projects involves what can only be described as a clear HYIP Ponzi scheme. Users who invest specific amounts will accrue interest of up to 30% after 190 days and have their capital returned to them. Schemes like these are always something to be very wary of, as they usually don’t end well for the people who invest in them.
It seems multiple HYIP schemes will be launched, differing in terms of their particular direction and “casino” theme. Rest assured a lot of people will lose their hard-earned money when investing in any of the current or future programs associated with this BCash project. At this rate, one would almost assume that the project exists to give Bitcoin Cash a bad name, although that may not necessarily be the case. It’s best to steer away from this particular platform, though, as its offerings seem very shady at best.
No one knows for sure what the future will hold for this specific BCash project. One thing everyone needs to keep in mind is that it has absolutely nothing to do with Bitcoin Cash. We can only hope the cryptocurrency community stops calling the popular altcoin “BCash”, as it is evident there are a few projects out there using the same name for less legitimate purposes. It’s an interesting situation well worth keeping an eye on, especially as far as the BCash HYIP Gambling Project is concerned.
You may be interested
Iceland’s Industry to Shift From Crypto Mining to ‘Pure Blockchain Business,’ Insiders SayBrian Evans - Sep 23, 2018
Iceland is expected to shift from crypto mining to “pure blockchain business,” claims chairman of a local data center provider
Hodler’s Digest, September 16-23: Elon Musk Wants Advice on Twitter Crypto Scammers, the US SEC Wants Comments on BTC ETFsBrian Evans - Sep 23, 2018
Elon Musk wants those pesky Twitter crypto scammers gone, and Japan suffers yet another crypto exchange hack — read more in this week’s Hodler’s Digest
Bitcoin Price Nears $6,800 Resistance as Crypto Market Records Large GainsBrian Evans - Sep 23, 2018
Over the past few hours, Bitcoin has recorded a slight 1 percent increase in price, nearing the $6,800 resistance level. The rest of the crypto market recorded…