The high metric of Bitcoin Cash’s adoption in Australia may be fake
Bitcoin Cash had reached outstanding adoption metrics in Australia over 2019. As a result, BCH was increasing its retail trade, which is much better than BTC, ETH, and Litecoin by a huge margin. According to the released data, BCH had reached sales of $36,430 out of $39,405 worth of crypto-transactions in September 2019, nearly over 92% of the total retail sales.
However, according to a discussion on Reddit’s account named u/bitcoinsatellite, Bitcoin Cash may have faked some of these metrics to their own benefit.
The previously presented data had been released by BitcoinBCH.com, which collected its stats from two sources are TravelByBit and HULA. It is noticeable that HULA is managed by BitcoinBCH.com as well.
A Reddit’s account pointed out that the BitcoinBCH.com reports indicated high BCH retail transactions had excluded non-BCH transactions which the report did not mention. He also found that BCH’s TravelByBit analysis did not match the total number of transactions tallied on its own website.
The Redditor claimed that when he exchanged with Hayden Otto, CEO of BitcoinBCH.com, about his recent findings, his account was immediately banned from subs r/btc and r/bitcoincash, as well as all his posts on the thread. At least 3 accounts were banned from these two tags when they discussed this problem, but you can read the recap on thread r/cryptocurrency.
According to the Reddit’s account, Hayden Otto said that the only data deleted during the analysis were non-retail in nature. But Otto’s statement was soon argued by the Redditor, he said the report did not mention any data being excluded at all and Hayden Otto could not explain why several businesses that are clearly retail (e.g. restaurants, cafes, markets) had tx removed.
Hayden Otto also ensured that the report was accurate because it examined an audit. However, the Redditor responded that in order to prove his ‘honest words’. BitcoinBCH.com hired an accountant from a Bitcoin BCH startup to conduct an audit of their October report.
The Redditor said this is noticeable because not only their reported TBB totals did not match those from the TBB site, but their result was also mathematically impossible. There was no subset of TBB transactions in that month summed up to the total they had reported. Therefore, even if BitcoinBCH.com purposefully excluded retail transactions, it still must have messed up the sum.
When your information is so damaging to the BTC/Blockstream agenda that they run smear campaigns against you. Then spend thousands of dollars to buy upvotes and artificially promote their manufactured narratives?https://t.co/TeTF5M1aKa
— Hayden Otto (@haydenotto_) January 4, 2020
On January 3, Hayden Otto posted a new tweet said r/cryptocurrency moderators were complicit for allowing anti-BCH post on their sub.
Let’s Look Ahead To The Future And What Will Happen In The 2020s In The Cryptocurrency Market?
Bitcoin dominated trading (40.48%) and the Futures market on Binance