Bitcoin Cash Lawsuit Dropped for Lack of Funds

The lawsuit planned against Bitcoin Cash and Roger Ver, for allegedly misrepresenting Bitcoin Cash as Bitcoin, was canceled on May 4 as only $3,700 was raised. The main focus was on the use of the term 'Bitcoin' to represent BCH and 'Bitcoin Core' for BTC and the telegram group behind it had gathered over 1,000 users.

Organizer MoneyTrigz said: "the reality of the situation is with $3700 barely anything can be done (even though I respect and appreciate the 31 people who sent donations)." He then offered to send all the money received back to the participants which has already occurred for anyone who has requested them. 

 

However, the threat of the lawsuit did achieve some of its original aims. The website at the focus of the debate was 'bitcoin.com' and it has since changed its description of BCH to 'Bitcoin Cash'. It does still refer to BTC as Bitcoin Core. The original worry was that someone who was not aware of the distinction may purchase BCH in the belief that it was BTC.

Charlie Lee, founder of Litecoin, originally dismissed the lawsuit even though he agreed with its aims. Upon hearing the news that the website had updated its descriptions, he changed his mind and congratulated it. He said: "I retract my statement calling the lawsuit stupid. I just found out that Roger has changed the website back to listing bcash as "Bitcoin Cash (BCH)" instead of just Bitcoin. So for that, the lawsuit has already done some good. So carry on!"

On the same day the lawsuit was cancelled, a Reddit post gained 750 upvotes as it proposed CoinMarketCap to remove Bitcoin.com as the second listed website for Bitcoin. They previously removed the link following pressure but it has since returned. One user jrmxrf said: "Pointless. They support BCH, that's how they make money. If you want to do something about it, just don't use them and don't give them free marketing by posting about them. Forget about them and switch to a different tool."

The debate over which is the 'real' Bitcoin has raged since before the Bitcoin Cash hard fork occurred in August 2017 as the issue of block sizes has been a hot topic for many years. Proponents argue that increasing the block sizes enables the cryptocurrency to operate at higher workloads. On the other hand, opponents argue that it may lead to security issues and that Segwit and the Lightning Network are better alternatives.