Cryptopay, the UK company founded in 2013 has recently made a statement that has upset many Bitcoin Cash evangelists.
Adding new currencies to a platform is certainly no easy task, and whatever currencies are added, there are likely to be unhappy people wanting their favorite one added. Cryptopay has taken some time to actually add coins that most take as par for the course, Like Litecoin and Ethereum, and have been working on rectifying this by working on their implementation.
In a post regarding their new lower Bitcoin miner fee on Twitter, the user @Egon_01 asked the team about Bitcoin Cash.
Cryptopay then responded saying that they would take it one step at a time, first implementing LTC, XRP, ETH and then BCH. This was not taken well by Egon, and he noted that BCH “is a top coin” (No. 4).
Note: Before we go further, it’s important to note that Bitcoin Cash has the 4th largest market cap. Many people, unfortunately, seem to confuse market cap with the coin being a top choice. Market cap simply is the number of coins in circulation multiplied by the current coin price.
Ripple, for example, is a coin that I am holding long term. In December it (very briefly) overtook Ethereum as the number 2 coin in terms of market cap. To be fair, in December and even now with all of Ripple’s newest partnerships, Ripple is not a better coin than Ethereum. In terms of use cases and value, Ethereum far outshines Ripple, so judging a coin by market cap is a flawed way of looking at cryptocurrencies.
Cryptopay then responded by saying that they don’t feel that BCH was safe.
This seems to be quite a bold statement by Cryptopay and I’m not sure why they feel that BCH is unsafe but it is clear they do. As far as the general knowledge goes, and as far as my research could take me over the past 10 days, I have been unable to find any information about any issues on Bitcoin Cash.
That being said, Cryptopay seems to have doubled down a day later with a follow-up tweet:
Do you believe that Bitcoin Cash has security flaws? Do you think it should be implemented as a priority on platforms?
Comment your thoughts below or via the social media buttons!
Tiaan Wolmarans is a cryptocurrency investor and trader, airplane pilot, musician, and writer.
Disclaimer: The information presented by Tiaan is for informational purposes only. It should not be considered legal or financial advice. Tiaan is not a financial adviser. You should consult with a financial professional to determine what may be best for your individual needs.
Tiaan does not make any guarantees or other promises as to any results that may be obtained from using his content. No one should make any investment decision without first consulting his or her own financial adviser and conducting his or her own research and due diligence.
Please always only invest within your means and do so responsibly. If you have any questions feel free to contact him via the social media buttons below.