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BCH subsequently gave back all its gains to fall below the price it had been prior to the announcement. The fraudulent announcement, which was issued on PR Newswire and appeared on the Kroger website, claimed the grocery retailer would be accepting BCH for all in-store and online purchases from Dec. At press time, the release had been removed from the company site. This fraud is similar to the one in September which fraudulently claimed that Walmart would start to accept litecoin.
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Sign Up. By doing so, Tanner told CoinDesk, litecoin cash hopes to use the free coin giveaway as a springboard to create a network faster than bitcoin, with lower transaction times. And in this way, the two "cash" projects are different. To start, bitcoin cash arguably had more on the line since it was created as the culmination of years of debate in the bitcoin community.
So, litecoiners like Lee doubt litecoin cash serves the same purpose, a way of settling an argument, as bitcoin cash. As one user put it in the litecoin cash Telegram chat group: "We want the fork for free coins which potentially may be real or scam. One big reason, as he alluded to, is brand confusion. Bitcoin forks, for example, are taking the name "bitcoin" along with them, despite not having any association with the "real" or most widely-known bitcoin project.
One developer recently even suggested suing any project that takes the bitcoin name to "mitigate confusion" for new users. This idea proved very unpopular, but it shows a general skepticism about forks, and how developers have zero control over the situation due to the nature of open-source development. That said, Tanner argues the project seeks to stand out from the litecoin forks that he thinks will inevitably follow: "There will be forks that follow us, who do seek to confuse you and do seek to scam you.
Litecoin bitcoin image via Shutterstock. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups.
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