The US government has been researching cryptocurrencies over the last several months and have published a surprising story claiming that Bitcoin Cash is the original Bitcoin and Bitcoin is actually a fork. The report was done by the US Department of Commerce’s Institute of Standards and Technology. The rivalry between Bitcoin Cash and Bitcoin has continued to grow and this will only add fuel to the fire.
The report, authored by Peter Mell, Nik Roby, Karen Scarfone and Dylan Yaga, stated
Technically, Bitcoin is a fork and Bitcoin Cash is the original blockchain. When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.
They go on to say that the SegWit hard fork created the new blockchain, it became Bitcoin and the original blockchain turned into Bitcoin Cash.
This comes off surprising and confusing to newer investors who may not have been as aware of the July fork. The news comes as controversial as Bitcoin Cash has faced a number of setbacks. There have been scandals reported with CNBC and Coinbase. Even with these issues, the report stood strong behind Bitcoin Cash.
The report covered several other cryptocurrencies on top of Bitcoin and Bitcoin Cash. They said Litecoin is a “complement to Bitcoin.” They also determined that Ethereum Classic is the original Ethereum. The controversial report is bound to be questioned and criticized by many.
On top of this news, the ratings agency Weiss came out with ratings for Bitcoin who received a C+ and Ethereum which was a B.