BitcoinBitcoin CashCointelegraph.comtesla

Bitcoin Cash hits new lows vs. Bitcoin after Tesla snubs ‘fork products’

The car maker subsequently deletes a warning not to send Bitcoin Cash or Bitcoin SV as payment for orders, but for BCH/BTC, the damage was done.
Controversial Bitcoin (BTC) spin-off Bitcoin Cash (BCH) has hit new all-time lows against its parent after Tesla publicly rejected using it for payments.In a series of tweets on March 24, CEO and “Technoking” Elon Musk confirmed that U.S. customers could now buy a Tesla using BTC — but his company shunned “fork products” such as BCH.Tesla: Don’t send us anything but BTCBitcoin Cash spun off from the Bitcoin blockchain in August 2017 and has since remained a controversial entity within cryptocurrency. Proponents claim supremacy over Bitcoin thanks to BCH fees being far lower while transactions also tend to take less time to clear and require fewer resources.The narrative has taken various forms over the years, with advocacy ranging from passive to belligerent as BCH/BTC continues to plug new lows. On Wednesday, BCH holders received less than 1% of a Bitcoin — 0.089 BTC — per 1 BCH for the first time.BCH/BTC 1-week candle chart. Source: TradingviewTesla’s Bitcoin acceptance move appeared to drive the downturn. Support documentation originally singled out BCH and fellow Bitcoin Cash hard fork Bitcoin SV (BSV) as being unsuitable for payment.”You may not make purchases with us using any other digital asset, including Bitcoin fork products, such as Bitcoin Cash and Bitcoin SV,” the company stated. “Our Bitcoin digital wallet is not configured to detect or receive digital assets other …
Story continues on Cointelegraph

Related posts

Skrill to Enable US Citizens to Buy Bitcoin Following a Coinbase Partnership

The Skrill digital wallet, launched by the specialized payments platform Paysafe, will expand its presence in the US by partnering with Coinbase. The largest US-based crypto exchange will provide new cryptocurrency white label solutions to Skrill, thus enabling users from…
Banksbitcoin regulationCointelegraph.comCryptocurrenciesGovernmentIndiaIndian GovernmentReserve Bank of India

Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India

Rejecting crypto as a reserve currency will lead to an Indian currency devaluation of the worst kind, warns blockchain entrepreneur Raj Chowdry. An Indian cryptocurrency ban would have grave implications for the future of the country’s economy, and would result…
Bitcoin FuturescboeCointelegraph.comDerivativesETFUnited States

CBOE keen to meet high demand for crypto from retail, institutions, says CEO

Ed Tilly, the CEO of Cboe Global Markets, says that the Chicago-based exchange holding company hasn’t “given up on” crypto, despite earlier setbacks. Chicago-based exchange holding company Cboe markets — an early pioneer of regulated Bitcoin futures trading in the…