Blog Post

The Real Bitcoin – A Beginner’s Guide to Avoiding Confusion Surrounding Bitcoin

Sudarshan M • December 20, 2019

Which is the Real Bitcoin?

Cryptocurrency started with Bitcoin. Bitcoin is a decentralized payment mechanism, that started off in 2008. The base of this first-ever decentralized digital currency was backed by nothing but the mutual trust of the participants of the Bitcoin network.

The Bitcoin protocol was designed with the main purpose of being free from any tampering of the original source code. No single participant is able to act against the network, nor can he deny use to the network in any way. This made Bitcoin the first, in a series of ‘Borderless transparent mutual censorship resistant immutable’ currency or medium of exchange.

After Bitcoin, it really didn’t take long for other projects to develop, with the main purpose of continuing what Bitcoin started. However, there were some which wanted to replace BTC altogether. By replacing, it doesn’t mean taking Bitcoin and throwing it away, but rather starting something new and claiming the newly specifically created project as being the “original Bitcoin”.

Bitcoin forks have been a matter of much debate in the cryptocurrency sphere. Consensus is a mandatory, in order for forks to validly be resolved and allow continuously functioning. A fork without consensus is what leads to a permanent split.

But Wait, what is a Fork?

Forks can be categorized into 2 different ways: hard fork and soft fork. Both hard and soft fork types create two different versions of the software. What mainly differentiates them is the fact that a hard fork is meant to create two incompatible blockchains/tokens, while a soft fork creates two compatible versions of the software and token.

A hard fork is a non-backwards compatible upgrade to an existing blockchain. This means that all the network nodes on the Bitcoin blockchain must either comply with the fork and update their protocol software or continue with the same outdated protocol by forming another separate Blockchain entity.

Up to this date, some of the most famous and relevant hard forks are: Bitcoin vs. Bitcoin Cash hard fork, Ethereum vs. Ethereum Classic hard fork etc.

What sets Bitcoin and Bitcoin Cash apart from other hard forks, is that these are internally developed by the network participants and implemented with the consensus of members choosing their own sides, based on their own personal beliefs. Thus, in case a part of the users doesn’t agree with the change, the result may be two different versions of the same initial blockchain running concurrently.

The Street Fight for “The Real Bitcoin”

Bitcoin Cash’s Argument

Bitcoin Cash is a cryptocurrency created in August 2017, from a fork of Bitcoin. Bitcoin Cash increases the size of blocks, allowing more transactions to be processed. The cryptocurrency underwent another fork in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). Bitcoin Cash is referred to as Bitcoin Cash because it uses the original Bitcoin Cash client.

The key difference between BTC and BCH is the block size. The Bitcoin block size is limited to 1 MB, while Bitcoin Cash offers a block size of 8 MB, which was later upgraded to 32 MB. A Bitcoin block holds about 2500 transactions, whereas for the first BCH blocks, this figure reached 7000. Thus, the prospects of Bitcoin Cash in terms of scalability initially looked much better.

However, most Bitcoin infrastructure (wallets, payment services, etc.) does not support Bitcoin Cash and consider it just another altcoin, not a “new Bitcoin.” This means that its use is limited to speculation on stock exchanges.

Bitcoin Cash has been known since its inception, partly under the umbrella of Roger Ver, to imply tactics that suggest it is the ‘original Bitcoin’. Some of the tactics employed by Bitcoin Cash to obtain the status of being the “first Bitcoin” is naming their website “ bitcoin.com , using the reddit channel r/btc and so on. This clearly shows how hard Bitcoin Cash is trying to confuse and possibly attract and convince more users about the legitimacy of the large number of “Bitcoins” out there.

Evolution of Craig Wright’s Vision

Bitcoin SV is a fork of the already existing fork, Bitcoin Cash. The differences related to the controversial block size topic between Bitcoin Cash and Bitcoin SV have increased to the extent of separating the 2 distinct approaches. Bitcoin SV, since splitting, has increased the already existing block size of Bitcoin Cash from 32 MB to 128 MB. There has been absolute chaos since, about the huge block size and how it might increase mining cost and affect scaling.

Craig Wright is a Research and Computer Scientist who has repeatedly gone on to claim that he is Satoshi Nakamoto, the anonymous person who created the Bitcoin protocol. These claims are widely regarded as a possible hoax by most of the Blockchain community in general, in part because other than statements and claims, Craig has never been able to support his statements by facts and proof.

A faction within the Bitcoin Cash community, led by Craig Wright and Calvin Ayre, completely disagreed with these proposed technical updates. They argued that the proposed upgrades weren’t secure and that they would corrupt the original vision of Bitcoin as “digital cash” by allowing noncash transactions. This faction launched a competing version of the protocol with a higher block size limit of 128 MB on the 15 th   November of 2018, leading to a contentious hard fork that split the chain into Bitcoin Cash and Bitcoin SV.

Bitcoin Bitcoin Cash Bitcoin SV
Block No Is the original protocol

 

Implementation was done by the pseudonym Satoshi Nakamoto with the help of fellow Cyber Punk Hal Finney

Forked off Bitcoin from Block 478558

 

The fork was done due to internal differences arising between developers about the block size. Proponents of Bitcoin Cash, headed by Roger Ver,

Forked off Bitcoin Cash from Block 566766
Current Market Price

December 2019

$7509

Bitcoin has seen tremendous fluctuation in the past week with highs of $8600 and lows touching $6800

$218

Bitcoin Cash has been nothing but a downfall ever since its splitting. Interestingly, the fall is persistent despite recent crucial internal developments.

$89

Not much can be commented on the history of Bitcoin SV as it is still nascent.

Network Hash Rate 92,346,897 TH/s

 

The hash rate has seen an uptrend since the start of the year. Interestingly, Bitcoin recently touched an all-time hash rate high, much further than the late 2017 bull score.

Approx. 6600 PH/s

 

Bitcoin Cash’s hash rate has recently been stabilizing at mid-2000, after seeing a huge drop since the bitcoin SV split.

Approx 1.1 EH/s

 

After dropping from its initial high of 5 EH/s, a decrease in attention and interest has led to 90% downfall in network hash rate

Fee Structure Current Daily Avg. Fee: $1.2

 

Bitcoin’s fees per transaction are known to be the most volatile in the business. The fees have been known to correlate with the increase in transactions.

Current Daily Avg. Fee: 0.0004

 

Keeping up to its promise, Bitcoin Cash has been consistently supporting transaction at a negligible rate.

Current Daily Avg. Fee: $0.0002

 

Since most of the idea has been inspired by its parent fork Bitcoin Cash, and owing to its inferior unit price, the transactions are being propagated and 50% of Bitcoin Cash’s fee.

Block Size Supports 1MB per block

 

Usually is full due to high demand and low transaction per block count

Supports 32 MB Supports unto 128 MB

 

Much must be researched about the effects of large block and the relative cost to mine, also keeping it feasible enough for technology to catch up

Avg. Transaction/per day 300,000 per day

 

Owing to high demand, the transactions per day usually stay within the limit, until further block size increases are made.

30,000 per day

 

Bitcoin Cash has seen highs of 1 million transactions back in January 2019, but has since them seen a decrease in daily users

200,000 per day

 

SV has periodically touched north of 2 million transaction per day, but has now stabilized to the currency average

How to Avoid all the Confusion?

Sometimes, people think that the ‘realness” comes from the price reflection. This means that the highest valued iteration is the most widely supported one, and thus, the ‘real’ bitcoin. To help our readers distinguish the different Bitcoin named coins, below is a list of all the various factions within each community.

Note: There are probably over 100 coins that have the Bitcoin name in them. However, so far, only Bitcoin Cash and Bitcoin SV claimed they are the real Bitcoin.

Bitcoin Bitcoin Cash Bitcoin SV
Website Bitcoin.org Bitcoin.com Bitcoinsv.io
Pushed By Bitcoin Core Roger Ver Craig Wright
Reddit Handle r/bitcoin r/btc r/Bitcoinsv
GitHub Repository https://github.com/bitcoin/bitcoin https://github.com/zquestz/bitcoincash NA
Major Pools –    AntPool

–    Slush Pool

–    BTC.com

–    Bitcoin.com

–    BTC.com

–    AntPool

–    viatc.com

–    f2pool.com

–    prohashing.com

There are loads of sneaky and shady tactics employed by many cryptocurrencies our there. To underline our discussed example, where Bitcoin Cash named their website “ bitcoin.com ”, used the reddit channel r/btc etc. This clearly shows how hard Bitcoin Cash and cryptocurrencies which came after forks are trying to confuse and possibly manipulate users about the legitimacy of the wide number of “Bitcoins” out there.

In our opinion, the easiest way to navigate through the multitude of Bitcoin names is to just use the coin’s symbol: BTC,  to be able to ignore the rest of “Bitcoin” findings.

Hope this article had enlightened and was explicit to anyone who got overwhelmed by looking at different types of ‘Bitcoin’ out there. We hope that any decision you take hence forth will be an informed one, rather than one which is forced upon you.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  
By Press Release March 28, 2025
Momentum is building fast in the XRP ecosystem as XRPTurbo —a rising DeFi and AI-powered launchpad built on the XRP Ledger—breaks through the 250,000 XRP milestone in its presale.  With under four days remaining , investor interest is reaching new heights as anticipation grows around XRPTurbo’s game-changing platform demo. Earlier this week, the XRPTurbo team previewed a redesigned landing page, giving the community a sneak peek of what’s to come. A full demo of the platform is expected to drop any day now. This highly awaited reveal, expected later this week, showcases XRPTurbo’s robust suite of tools and innovations poised to revolutionize decentralized finance on the XRP Ledger. Join Xrpturbo Presale XRP Whales Are Taking Notice In a strong show of confidence, a major XRP whale recently contributed 20,000 XRP in a single transaction—further validating XRPTurbo as a credible project with serious momentum. As support from prominent figures within the XRP ecosystem pours in, XRPTurbo is becoming the launchpad of choice for Ripple's growing Web3 community. Built for the XRP Ecosystem—A Launchpad Without Barriers XRPTurbo is setting itself apart from other platforms by offering a simple yet powerful launchpad tailored specifically for developers and creators on XRPL. Unlike other existing solutions, XRPTurbo eliminates technical hurdles, allowing users to create tokens, mint NFTs, and launch decentralized apps with just a few clicks. A highlight of the platform is the GUI Token Minter —a no-code solution that enables effortless token creation. Historically, minting on XRPL required command-line expertise, but XRPTurbo’s tool opens the doors to everyday users and creators, unlocking true mass adoption. Liquid Staking With Flexibility and High APY Another headline feature is the soon-to-be-launched Liquid Staking Portal , which will allow users to stake their $XRT tokens while maintaining complete custody of their assets. Offering yields of up to 25% APY , this staking system blends DeFi flexibility with competitive returns—without locking up tokens. Buy XRT Tokens Why $XRT Matters: Real Utility and Early Access Owning $XRT offers far more than token speculation—it unlocks core advantages that position holders for long-term value, including: Early Access to Launches : $XRT holders gain first access to new AI and RWA projects launching through XRPTurbo. Staking Rewards : Benefit from high-yield passive income with no lockup required. Revenue Sharing : Earn a share of platform revenues, rewarding loyal supporters. With only 100 million tokens ever in circulation, the supply scarcity paired with deep utility positions $XRT for strong growth potential. Just Days Remain—Presale Ends Soon The clock is ticking. With over 250,000 XRP raised out of the 300,000 XRP Hardcap and exchange listings confirmed at a 25% premium over the final presale price, early supporters stand to gain significantly once trading goes live. XRPTurbo is already in active talks with top exchanges, ensuring high liquidity and wide market access from day one. Combined with a dedicated team, a growing community, and a roadmap full of firsts, XRPTurbo is shaping up to be a cornerstone of XRP’s DeFi revival. Join the XRPTurbo Presale Now: xrpturbo.com/presale Stay Connected with XRPTurbo: Telegram : t.me/xrpturbocom Twitter (X) : x.com/xrpturbocom Website : xrpturbo.com Whitepaper : docs.xrpturbo.com
By Press Release March 26, 2025
Decentralized Exchanges (DEX) have become a game-changer for crypto enthusiasts in the fast-paced financial world we’re in today. These platforms provide enhanced security, transparency, and full control over digital assets. Agrifi is at the forefront of this innovation, introducing an advanced DEX where users can seamlessly trade AGF tokens with popular cryptocurrencies like USDT, ETH, and MATIC, as well as participate in liquidity provision to earn valuable LP tokens.  Seamless Crypto Trading Agrifi’s Decentralized Exchange allows users to effortlessly swap AGF tokens for major cryptocurrencies like USDT, ETH, and MATIC. Unlike traditional exchanges, our DEX offers a secure, transparent, and censorship-resistant trading environment. Transactions occur directly between users, eliminating the need for intermediaries and significantly reducing transaction costs. Even newcomers can navigate our intuitive and user-friendly interface with ease. With just a few clicks, you can trade tokens securely, optimizing the flexibility and efficiency of your crypto portfolio. Since this decentralized method ensures your funds remain under your control at all times, it greatly minimizes the risk of centralized hacks or losses. Earn Rewards Through Liquidity Provision Beyond simple trading, Agrifi gives users a unique opportunity to earn passive income by providing liquidity to the exchange. When users deposit token pairs (such as AGF-USDT, AGF-ETH, or AGF-MATIC) into our liquidity pools, they receive Liquidity Provider (LP) tokens in return. These tokens serve as proof of participation and entitle holders to a share of transaction fees generated within the pool. Providing liquidity not only offers a steady stream of rewards but also strengthens the exchange’s stability and functionality. This helps traders experience minimal slippage and smooth transactions, making liquidity provision a mutually beneficial endeavor that supports both individual users and the broader Agrifi ecosystem. Why Choose Agrifi's DEX? Agrifi isn’t just another decentralized exchange—it’s a complete financial ecosystem built on sustainability and long-term value creation. Our DEX operates on robust blockchain technology, ensuring top-tier security and transparency. Thanks to decentralized governance, our platform continuously evolves to meet community needs, fostering fair, user-driven decision-making. Blockchain integration guarantees that every transaction is immutable, transparent, and secure. You can trade with confidence, knowing that your investments are safeguarded, verifiable, and entirely under your control. Join Our Growing Community Stay connected and informed by following Agrifi on our official platforms: Telegram : https://t.me/agrifi Twitter : https://twitter.com/agrifi_tech Facebook : https://facebook.com/agrifitech Instagram : https://instagram.com/agrifi.tech Community Telegram : https://t.me/agrifi_official Start Your Decentralized Trading Journey Today! With Agrifi’s DEX, experience the future of decentralized finance today. Trade securely, earn rewards through liquidity provision, and join a thriving community committed to innovation, transparency, and sustainability. Don’t miss out on this opportunity to grow your crypto portfolio with Agrifi’s cutting-edge DEX platform. Explore now and be part of the decentralized revolution!
By Press Release March 26, 2025
The CDG project has officially launched, introducing an innovative solution that enables everyone to earn passive income directly from their homes. With just a compact device, a power outlet, and an internet connection, CDG simplifies earning predictable, reliable, and hassle-free daily income.  Earn Daily Rewards Effortlessly CDG offers two user-friendly models: CDG Home and CDG Power Home , which provide GPU computing power to a decentralized computing network. In return, device owners receive daily rewards in the form of CDG credits. CDG credits operate similarly to loyalty points and can be conveniently exchanged for fiat currency through the easy-to-use CodegoPay app , available on both iOS and Android. Each credit maintains a guaranteed minimum value, ensuring consistent and predictable earnings. Why CDG is Different The concept of sharing computing resources isn't new, but CDG's implementation is uniquely accessible and efficient. CDG devices are incredibly energy-efficient: the CDG Home model consumes just 10 watts , and the powerful CDG Power Home uses only 30 watts . Designed for home use, these devices are compact, quiet, and discreet, seamlessly blending into any living space. Device owners begin generating income immediately upon activation. The CDG Home device generates a minimum of $5 per day , while the CDG Power Home offers at least $20 per day . Setup is straightforward, requiring no technical expertise. Simply plug the device in, connect through the CodegoPay app, and instantly start earning. Quick Start Guide Getting started with CDG is easy: Download the CodegoPay app (Android or iOS ), and open your account to receive your personal IBAN instantly. Order your preferred CDG device via the app or through an authorized reseller. Activate your device using CDG credits with a few simple taps. Your daily earnings will be tracked in real time within the app. Pricing and Activation CDG offers two versatile device models: CDG Home : Priced at $2,500 , requiring 10,000 CDG credits for activation. It consumes only 10 watts and delivers daily rewards of 50 CDG credits , valued at a minimum of $5 per day . CDG Power Home : Available for $10,000 , requiring 40,000 CDG credits for activation. It consumes just 30 watts , providing daily earnings of 200 CDG credits , equivalent to at least $20 per day . Earn Even More with Referrals CDG users can further increase their income through a rewarding referral program: Earn €150 cash for every friend who purchases a CDG Home , plus your friend receives a €50 discount . Receive €600 cash for every friend who purchases a CDG Power Home , with your friend enjoying a €200 discount . Referral bonuses are paid directly to your bank account via the CodegoPay app. Contributing to a Growing Global Network By owning a CDG device, users actively contribute to a decentralized GPU network, essential for industries like gaming, artificial intelligence, and mobile services. As the global demand for GPU computing power continues to grow, the potential value of CDG credits increases, providing additional long-term value. About CDG and Codego The CDG project was developed by Codego , a fintech leader providing secure, comprehensive digital banking solutions. Codego offers core banking, prepaid and debit card issuance, and European IBAN accounts, supporting more than 12 fiat currencies and over 500 cryptocurrencies . Thanks to Codego’s advanced financial infrastructure, users enjoy a seamless experience in managing their CDG devices through the CodegoPay app, which includes integrated IBAN accounts, secure real-time earnings tracking, and compliance with the PSD2 regulatory standards. Learn more about Codego and the CDG project: Codego (Website) | CDG (Website) | X (Twitter) | Instagram | LinkedIn | TikTok Discover how CDG transforms passive income generation—simple, efficient, and rewarding from day one.
By Press Release March 25, 2025
BTCC , one of the world’s longest-serving cryptocurrency exchanges, is thrilled to announce a significant revamp of its VIP program, specifically designed to cater to high-volume traders among its 6.8 million users globally. This initiative highlights BTCC’s continued commitment to delivering an exceptional trading experience through increased efficiency, exclusive rewards, and personalized support.  Founded in 2011, BTCC has been a trusted name in crypto, offering reliable and user-friendly trading services across the globe. The newly enhanced VIP program ushers in a new era of perks, prestige, and personalization for elite traders seeking more than just competitive fees. The revamped VIP program introduces several exciting features: Competitive Trading Fees : VIP futures trading fees have been reduced to an industry-leading rate of as low as 0.007%. Enhanced Liquidity : SVIP users can now withdraw up to 2,500,000 USDT daily, catering to the demands of high-volume traders. Generous Upgrade Rewards : Each upgrade in VIP levels unlocks rewards worth up to 2,500 USDT, including trading vouchers and exclusive merchandise. 24/7 Personalized Support: VIPs enjoy round-the-clock access to dedicated account managers for tailored trading assistance. Community Prestige: Users receive a custom VIP badge that reflects their status within the BTCC community. Luxury Experiences : SVIP users will be randomly selected to win premium vacation packages to destinations like the Maldives and Bali. VIP Status Protection : SVIP users benefit from a grace period that prevents immediate downgrades, even during periods of reduced trading activity. "We’re incredibly excited to launch this revamped VIP program, which truly puts our users at the heart of everything we do,” expressed Alex, Head of Operations at BTCC. “This revamped program is all about empowering high-volume traders. With tailored services, competitive fees, and exclusive rewards, we are dedicated to providing the tools and support that our most active users need to thrive in the fast-paced crypto market.” BTCC’s enhanced VIP offering isn’t just a loyalty program, it’s a reflection of the platform’s ongoing mission to create a secure, rewarding, and dynamic trading environment for users around the globe. About BTCC Founded in 2011, BTCC is a leading global cryptocurrency exchange with the vision to make crypto trading reliable and accessible to everyone. With a strong presence in over 100 countries and regions and a user base of over 6.8 million, BTCC continues to deliver innovation, security, and unmatched user experience in the cryptocurrency world. Official website: https://www.btcc.com/en-US X: https://x.com/BTCCexchange Contact: press@btcc.com
Show More
paper_plane

NEVER MISS AN ARTICLE!

Sign up and stay up-to-date about what's happening at our site.

Share by: