UnitedCorp Brings Bitmain, Roger Ver, and Kraken to Court for Suspected Hard Fork Manipulation

UnitedCorp Brings Bitmain, Roger Ver, and Kraken to Court for Suspected Hard Fork Manipulation

United American Corporation (UnitedCorp) filed a suit against Bitmain, Kraken Exchange, Bitcoin.com, and Roger Ver, et al. for exploiting specialized techniques to maneuver BCH to their own advantage

UnitedCorp believes that the defendants colluded to effectively hijack the Bitcoin Cash network after the November 15, 2018 scheduled software update with the intent of centralizing the network…

UnitedCorp Press Release

Miami’s UnitedCorp, a blockchain-based telecommunications company, announced on 6 December that it submitted a case against Ver and the firms it suspects to be involved in an unfair and misleading scheme to take hold of the BCH network, after the hard fork, for their own gain. UnitedCorp perceived that the effort to hijack the network was the cause of the meltdown, detrimental to the company and other BCH stakeholders.

The suit was filed in the US District Court for the Southern District of Florida.

The dispute seeks for the court to prohibit and prevent the defendants from continuing ongoing activities hostile to the BCH network. The telecommunications company also seeks compensation for the damages inflicted. The amount will be determined during trial.

The Premise of the Lawsuit

We are bringing this suit on behalf of UnitedCorp because we believe strongly in the value and integrity of democratic, distributed and decentralized blockchain networks…

Benoit Laliberte, President of UnitedCorp

After the 15 November hard fork, UnitedCorp maintains that Ver et al. promptly took control of the network through ‘rented hashing’ which is against the fundamentals of the blockchain. Rented hashing is the interim deployment or redirection of computing power to gain governance of the network.

Bitcoin ABC became the leading chain by the time the rule set was laid and rented computational power was lifted. UnitedCorp supposes the leased hash power’s purpose was to artificially sustain a longer chain for ABC.

By 20 December, it is said that ABC’s team put a ‘Deep Reorg Prevention’ in the blockchain to solidify control over the ledger.

The press release emphasized that no individual or entity should be permitted to gain control of a cryptocurrency network.

Bitcoin Cash

BCH
Price
126.50 USD -1.26%
0.03517000 BTC -1.05%
Volume, 24h
75,317,982 USD
-19.35%
Marketcap
2,245,826,160 USD
1.9%
Emission
84%

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Bitcoin (BTC), Etheruem (ETH), XRP (Ripple) and BCH Price Analysis: Crypto Market Watch (January 16)

BTC/USD From yesterday’s open at $3761 the price of Bitcoin fell at first to $3721 and started increasing again, but when it came back to around the levels of the open it started decreasing again and this time with stronger momentum. The price fell to $3640 yesterday which is the prior range resistance now retested for support as the price once again started moving to the upside and is currently sitting at $3698 which is an overall decrease of 1.7% from the yesterday’s open. Looking at the hourly chart you can see that the price has fallen a bit further down than I was expecting it, but it only confirmed my EW count as it came to the proximity of the ending point of the 1st impulsive wave. 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