{"id":50870,"date":"2018-05-08T01:56:29","date_gmt":"2018-05-08T08:56:29","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=50870"},"modified":"2019-11-07T02:56:08","modified_gmt":"2019-11-07T02:56:08","slug":"billionaire-mike-novogratz-has-had-enough-says-bitcoin-core-is-btc","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/billionaire-mike-novogratz-has-had-enough-says-bitcoin-core-is-btc\/","title":{"rendered":"Billionaire Mike Novogratz Has Had Enough, Says Bitcoin Core Is BTC"},"content":{"rendered":"<p>\u201cEnough already\u201d was the blunt message billionaire <a href=\"https:\/\/cryptoslate.com\/mike-novogratz-500-million-crypto-hedge-fund\/\">Mike Novogratz<\/a> had for the @Bitcoin Twitter account, whose latest tweets showcase its handlers affinity for the ongoing \u201cBitcoin Cash is Bitcoin\u201d rally.<\/p>\n<p>Via a tweet dated May 5, the <a href=\"https:\/\/twitter.com\/bitcoin\">@Bitcoin<\/a> handle explicitly claimed Bitcoin Cash to be the \u201coldest cryptocurrency\u201d in town. Not only that, the post also called BTC \u00a0\u201can experimental currency\u201d which is not backed by an official whitepaper and is only two years old.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin Cash is the oldest cryptocurrency. Its white paper was published in 2008 and the genesis block mined in January 2009. <\/p>\n<p>Bitcoin Core (BTC) is an experimental currency that does not have a white paper and has only operated under its current model for two years. <a href=\"https:\/\/t.co\/YBeepJlwC5\">pic.twitter.com\/YBeepJlwC5<\/a><\/p>\n<p>&mdash; Bitcoin (@Bitcoin) <a href=\"https:\/\/twitter.com\/Bitcoin\/status\/992535592599769090?ref_src=twsrc%5Etfw\">May 4, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hours after the controversial tweet made its way to the internet, a heated debate ensued amongst backers of both BCH and BTC.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Enough already.   Bitcoin core is BTC.  It is a store of value.  It is digital gold.   It\u2019s market cap dwarfs bitcoin cash.    If you want to be a payments currency by definition you need to have stable value.   So why own it. ??<\/p>\n<p>&mdash; Michael Novogratz (@novogratz) <a href=\"https:\/\/twitter.com\/novogratz\/status\/992788273448632320?ref_src=twsrc%5Etfw\">May 5, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Novogratz\u2019s message was clear and resounding. He likened Bitcoin Core as being a potent digital store of value, even going as far as saying that the asset was comparable to \u201dgold\u201d. He then added that BTC\u2019s market cap \u201cdwarfed\u201d that of bitcoin cash and said:<\/p>\n<blockquote><p>\u201cIf you want to be a payments currency by definition you need to have stable value. So why own it?\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">What is the real Bitcoin?<\/p>\n<p>&mdash; Satoshi Jimenez (@joeloregalatto) <a href=\"https:\/\/twitter.com\/joeloregalatto\/status\/992538396777119744?ref_src=twsrc%5Etfw\">May 4, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The former Fortress partner recently made headlines when his nascent crypto-backed merchant bank project, <a href=\"https:\/\/cryptoslate.com\/hedge-fund-billionaire-mike-novogratz-launch-crypto-merchant-bank\/\">Galaxy Digital<\/a>, raised $250 million. Novogratz also argued that \u201cBitcoin is analogous to gold\u201d, an asset which is hardly used in its physical form for facilitating payments but still holds value. He posed the question:<\/p>\n<blockquote><p>\u201cWhen is the last time you bought something with gold? No one does. It\u2019s just a store of value.\u201d<\/p><\/blockquote>\n<h2>Other similar developments<\/h2>\n<p>Also worth noting is that Novogratz\u2019s comments come at a time when the \u201cBTC or BCH\u201d dispute is being fanned by Bitcoin.com CEO, Roger Ver, who recently altered the Bitcoin.com block explorer to list BCH as \u201cBitcoin\u201d and BTC as \u201cBitcoin Core.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Imagine some really rich person buys &quot;Bitcoin&quot; from this website, then later on finds out they were actually sold rat poison. ?\u2623\ufe0f? <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&ref_src=twsrc%5Etfw\">#bitcoin<\/a> <a href=\"https:\/\/t.co\/Hfw0GsTMWE\">pic.twitter.com\/Hfw0GsTMWE<\/a><\/p>\n<p>&mdash; Armin van Bitcoin \u26a1 (@ArminVanBitcoin) <a href=\"https:\/\/twitter.com\/ArminVanBitcoin\/status\/988510664955256832?ref_src=twsrc%5Etfw\">April 23, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This move provoked a lot of backlash from within the crypto community and even resulted in an online campaign to <a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/bitcoin-com-faces-lawsuit-confusingly-labelled-wallet\/\">initiate a class-action lawsuit<\/a> against Ver for misleading potential investors.<\/p>\n<p>However, the move <a href=\"https:\/\/cointelegraph.com\/news\/pro-btc-movement-scraps-lawsuit-against-vers-bitcoincom-citing-lack-of-funds\">failed<\/a> to gather any legal momentum and remained extremely short-lived. It is still worth noting that Bitcoin.com quietly reversed the change it had made to its block explorer without making a public furor about it.<\/p>\n<p>Lastly, the internet's most popular crypto price tracking website, <a href=\"http:\/\/coinmarketcap.com\">CoinMarketCap<\/a>, also discreetly removed a link to Bitcoin.com from its Bitcoin currency page.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cEnough already\u201d was the blunt message billionaire Mike Novogratz had for the @Bitcoin Twitter account, whose latest tweets showcase its handlers affinity for the ongoing \u201cBitcoin Cash is Bitcoin\u201d rally. Via a tweet dated May 5, the @Bitcoin handle explicitly claimed Bitcoin Cash to be the \u201coldest cryptocurrency\u201d in town. Not only that, the post [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":50903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Billionaire Mike Novogratz Has Had Enough, Says Bitcoin Core Is BTC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/billionaire-mike-novogratz-has-had-enough-says-bitcoin-core-is-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaire Mike Novogratz Has Had Enough, Says Bitcoin Core Is BTC\" \/>\n<meta property=\"og:description\" content=\"\u201cEnough already\u201d was the blunt message billionaire Mike Novogratz had for the @Bitcoin Twitter account, whose latest tweets showcase its handlers affinity for the ongoing \u201cBitcoin Cash is Bitcoin\u201d rally. Via a tweet dated May 5, the @Bitcoin handle explicitly claimed Bitcoin Cash to be the \u201coldest cryptocurrency\u201d in town. 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