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OKCoin Exchange Removes Bitcoin Cache and Bitcoin Swi for ‘Misleading Customers’


The OKCoin exchange has announced that it has removed Bitcoin Cache and BitcoinSwi for misleading its customers. According to the exchange, new customers who wanted to buy bitcoins were confused when they saw these two bitcoin forks.

to the the report CoinDesk, an OKCoin exchange, removed Bitcoin Cache (BCH) and Bitcoin BSV from its list. OKCoin did this to protect novice customers who want to buy bitcoin and to articulate its principles.

These two digital currencies were confusing new customers who had joined OKCoin to buy the original bitcoin. The managers of this exchange decided to remove them for this reason. The decision was made public with CoinDesk before the announcement on Friday.

Most importantly, repeated complaints and legal threats from Bitcoin maker Craig Wright also contributed to the exchange’s decision to remove BCH and BSV.

Hong Fang, CEO of OKCoin, said in an interview:

This is not an easy decision. We had a choice that had its downsides, but we have to stand up for the more important principles we believe in.

He added that the OKCoin team tries not to let their personal opinions influence their decisions.

However, Craig Wright’s latest legal attack on developers hosting Bitcoin WhitePaper has become a turning point. For Feng, this became a choice between protecting the principle of bitcoin open source and fighting for the foundations of the free market. But in the end, society won.

Feng said about this:

On the one hand, we feel empowered to protect the principle of bitcoin open source, but on the other hand, if we do something about it, it would contradict the principles of neutrality of our platform. We would not have made this change if it were not for open source because of Craig Wright’s threats against the developer community. In our view, these threats are very destructive to the development and bitcoin in general.

According to Feng, in addition to these issues, these currencies bear the name of bitcoin and cause a lot of “confusion” among newcomers about real bitcoin. He added:

When we have all three currencies on our platform and new customers join us, most of them for [خرید] Bitcoin comes as a store of value. But when they see BCH and BSV, they get confused.

Bitcoin Cash is a “fork” of bitcoin; This means that it was created by copying and manipulating bitcoin code and is born of what is known as scalability and block size.

In August 2017, when the bitcoin community did not agree on the size of the SegWit2x blockchain, Roger Ver, a former bitcoin foreman, forged it to create a bitcoin cache.

Two years later, in November 2019, Craig Wright and others split the Bitcoin Cache to build the Bitcoin Sue, whose blocks were larger than the Bitcoin Cache.

The confusion that Feng is talking about has long been a source of concern among the bitcoin community. Bitcoin.com, for example, is run by RogerWare, the promoter and maker of BitcoinCash. For a while, the “Buy Bitcoin” button on this website led users to a page where they could buy bitcoin cache instead.

This fallacy is considered by Bitcoin fans as an attack on this digital currency. They also argue that Bitcoin OS poses a similar threat.

Thus, in 2019, the elimination of Bitcoin OS became a symbolic move. Many well-known exchanges such as Kraken, Bainance, ShapeShift and others did this. However, many or all of these exchanges still have Bitcoin Cash on their list.

The Australian Independent Reserve’s office removed the Bitcoin Swift in January, citing copyright threats by Wright against those hosting the Bitcoin white paper. Wright has long claimed that Satoshi Nakamoto is the creator of Bitcoin, but has yet to prove it.

Feng hopes that in light of Wright’s recent actions, more leaders in the industry will step forward and condemn what has become a thorn in the side of the industry as a whole.

He said:

We call on other members of society to protect the spirit of free and open source development and decentralization. Say “no” to coercion.

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