Home Bitcoin Cash Canadian Entrepreneur Spells it as Scam – Crypto Recorder

Canadian Entrepreneur Spells it as Scam – Crypto Recorder


Bitcoin Cash (BCH) merchant adoption is on the rise across the world. Recently, the most significant milestone made by Bitcoin Cash ecosystem was its integration into the worlds largest cryptocurrency payment system, Bitpay. The digital asset will be available for acceptance by the merchants and vendors operating on Bitpay. The cryptocurrency craze has been hitting the mainstream media and across the platforms on the internet since early last year. Bitpay client base has been growing steadily as merchants and vendors desire to attract the customers who prefer cryptocurrencies to traditional fiat currencies. Besides, Bitpay has made commendable growth in various regions around the world including the United States, South America, Asia as well as Europe.

The 2017 hard forked Bitcoin Cash has made considerable achievements since its existence keeping in mind that it got off on a rough patch. Most of the Bitcoin Cash holders have praised Bitpay for the addition of the asset to its platform. Consequently, the cost per transaction is considerably lower in comparison to other cryptocurrencies. Some of the Merchants and vendors accepting Bitcoin Cash include JM Bullion, Gyft, Zeek, Namecheap, Apmex, Newegg, Wefunder, and Heifer Internationa among others. In addition to that, various non-profit organizations also accept Bitcoin Cash payments, for example, Save the Children, Electronic Frontier Foundation and Wikipedia.

That is not all, Bitcoin Cash (BCH) has also been integrated into the Payment-Protocol (BIP70) which is utilized in Bitpay invoices. The wallets that support BCH Payment-Protocol Bitcore, BRD Wallet, Electrum, Mycelium, Bitpay, Copay, Bitcoin.com Wallet, and Edge.

Canadian Entrepreneur Slanders Bitcoin Cash to the Parliament as a Big Scam

While most of the Bitcoin Cash enthusiasts and supporters are celebrating, Jonathan Hamel, On the other hand, has recently Become one of Bitcoin Cash’s haters. Speaking at the Parliamentary hearing on March 19, 2018, the Entrepreneur called the crypto an illegitimate scam. The entrepreneur was very categorical with his words while referring to Bitcoin Cash. He called it a “downright scam,” during the Finance discussion at the House of Commons. He went further and called it BCash and explained that despite its resemblance to Bitcoin, it is nothing like it.

He said, and I quote, “other [cryptocurrencies] are downright scams, like BCash.”

Hamel has been referred to as self-serving by other observers since the parliamentary hearing. His intentions have been questioned and his testimony was interpreted as misleading especially the to the Canadain government that is exploring ways to work with cryptocurrencies.

Hamel has angered the supporters of Bitcoin Cash (BCH), however, he has a fair share of like-minded people who view Bitcoin Cash in the same way. Many people have dismissed his claims saying that they are unfounded. Lastly, the exciting news is the integration of Bitcoin Cash into Bitpay payment system. Bitcoin Cash usability is bound to increase with the impending widespread merchant acceptance. Hopefully, there will be a ripple effect on the price of Bitcoin Cash which has been struggling to break past the $1,000.

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This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.


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