Bitcoin Cash payments could be accepted by as many as 4,000 merchants on Cyprus by November, reflecting the growing phenomenon of alternative currencies around the world despite trepidations by bankers about fraud and money-laundering.
Bitcoin.com co-founder Roger Ver said, “Bitcoin Cash is the real Bitcoin,” adding to the confusion and clash between companies trying to gain a foothold in the market.
Bitcoin BCH is the only cryptocurrency designed to be utilized as a currency and is fast gaining favor among crypto enthusiasts and merchants, CoinGeek said, the goal that founder Satoshi Nakamoto had when it was conceived.
In a Youtube video, Ver said around 70% of all retail outlets on Cyprus are preparing to accept BCH but not BTC as the crypto-currency war rages on.
Earlier this year, a BCH community center was launched on Cyprus to show users, investors and developers how the currency can be used.
Ver also pointed out that BTC is not viable as a payment option and indicated that the Lightning Network (LN), BTC’s attempt at developing a system to allow fast transactions, still isn’t ready to be used in a business environment.
Ver admitted market volatility is a problem but that BCH gives anyone the ability to send money to anyone else anywhere in the world with no need to register on a given system. No banks or third-party intermediaries need to be involved and he said the network is fast with virtually no transaction costs.