2018-11-21 18:20 |
Money Button’s CEO, Ryan Charles recently stated why he chose Bitcoin Cash SV, instead of the legacy Bitcoin Cash ABC.
He made this known in a Youtube video where he also talked about nChain’s and Bitmain’s investments in another of his companies, Yours Inc., a platform that rewards content creators with bitcoin cash.
Yours Inc. recently underwent a fundraising round, where Bitmain and nChain contributed $1 million and $500k respectively. These investments essentially makes Bitmain the company’s biggest investor, seeing as the company has only raised $1.7 million to date.
He also talked about the community’s criticism of his preference for nChain’s bitcoin cash SV over the legacy bitcoin cash ABC, and how he chose the BSV because nChain is an investor in his company. According to him,
“I’m saying it’s actually exact opposite, that the largest investor is on the other side […] everything I’ve ever said that’s favorable to nChain actually comes at risk to me. Not only am I not getting money from this, I’m risking making an enemy of Bitmain […] because first of all, I like Bitmain and the thought of being an enemy with them is just a horrible idea but also obviously, if they were genuinely an enemy, I wouldn’t stand a chance.”
He then went to state that both nChain and Bitmain aren’t on the best of terms, further insinuating that both entities just might be at war with each other. He said this because both entities have gotten to the point of attempting to hack and destroy each other using computers.
He went on to say that although he wasn’t in support of the fork –even going as far as trying to create an anti-split procedure which would have kept transaction histories unified on both chains- he’s more likely to choose one of the bitcoin cash forks, and has stated his fondness for the new fork, Bitcoin Cash Satoshi Vision.
“However, the major player particularly Bitcoin.com went in the opposite direction and promoted a split, they split their coins in their services not in the wallet but in the services, which all but assures that the split coin will ripple off throughout the ecosystem because of the way that you merge UTXO’s together that it eventually all the coins become split”,
He said.
He goes on to state that because there was no support for the anti-split procedure from the majority of the community, the project fell through, resulting in the hard fork that has produced Bitcoin Cash ABC and Bitcoin Cash SV.
After examining both protocols, himself and his companies decided that SV was the better option to go with, as the platforms couldn’t deal with multiple tokens. He said,
“Money Button and Yours Org, it is not a good idea to have multiple of these things none of the user experience stuff that we’ve done accounts for having more than one. We’re not going to do more than one, it’s a distraction it makes it harder the UX is worse, we have to pick whichever one is the best one than the one that’s most likely to work long term and I believe that’s SV”
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