{"id":12699,"date":"2023-01-23T19:28:00","date_gmt":"2023-01-23T16:28:00","guid":{"rendered":"https:\/\/alfacash.blog\/?p=12699"},"modified":"2024-02-19T21:49:59","modified_gmt":"2024-02-19T18:49:59","slug":"forskjellige-bitcoin-typer-navn-hva-er-original-bitcoin","status":"publish","type":"post","link":"https:\/\/alfacash.blog\/nb\/2023\/01\/23\/forskjellige-bitcoin-typer-navn-hva-er-original-bitcoin\/","title":{"rendered":"Ulike Bitcoin-\u00abtyper\u00bb og navn: hva er den \u00aboriginale\u00bb Bitcoin?"},"content":{"rendered":"

If you\u2019re a beginner in crypto, this is super important information. Sometimes, you may think you\u2019re buying \u201cBitcoin\u201d just because the token (or even the service\/platform) has that name. But that\u2019s not always the case. Bitcoin doesn\u2019t have a proper copyright. On the contrary, it\u2019s open-source software and its name is public. Anyone can copy it and use the word \u201cBitcoin\u201d \u2014resulting in numerous types and names.<\/strong><\/p>\n\n\n\n

As a consequence, we have not one, not two, or three, but over 100 tokens sharing the same name (Bitcoin) with some additions or slight changes [CMC]. Some of them are directly-forked coins (cloned from the original code), some others are entirely different altcoins with additional functions, and we also have assets anchored to the Bitcoin pris<\/a>. And scams. Sadly, we have scams as well.<\/p>\n\n\n\n

It\u2019s essential, then, to learn the distinction between the \u201coriginal\u201d Bitcoin from the other tokens with the same name.  Let\u2019s explore a bit about them.<\/p>\n\n\n\n

Most popular Bitcoin \u201ctypes\u201d: Cash, SV, and Gold<\/strong><\/h2>\n\n\n\n

Beyond the classical Bitcoin (BTC), we have three main altcoins with the name. By market capitalization, they are Bitcoin Cash (BCH), Bitcoin SV (BSV), and Bitcoin Gold (BTG).<\/strong> None of them is the original Bitcoin. They have their own systems, prices, developers, and community.<\/p>\n\n\n\n

\"Bitcoin-types-names-Cash\"
Bitcoin SV, Bitcoin Cash, and Bitcoin Gold logos<\/figcaption><\/figure><\/div>\n\n\n\n

Bitcoin kontanter<\/a> was the first direct BTC hardfork, back in 2017. It was created to increase the BTC size block and avoid the feature SegWit, but, otherwise, the system is identical to the original. However, their supporters are other people. They include the entrepreneur Roger Ver and the mining pool ViaBTC. For a while after its creation, they made an aggressive campaign<\/a> to promote Bitcoin Cash (BCH) as the \u201creal\u201d Bitcoin, against BTC. It wasn\u2019t very successful, though.<\/p>\n\n\n\n

Today, BCH has a market cap of $2.5 billion and a price of $133 per unit <\/strong>[CMC]. In 2018, the Australian businessman Craig Wright, auto-proclaimed\u00a0Satoshi Nakamoto<\/a>, partnered with the billionaire Calvin Ayre to fork Bitcoin Satoshi\u2019s Vision (BSV) from Bitcoin Cash. He previously supported BCH, but the whole team had disagreements<\/a> again and took separate ways (and chains).<\/p>\n\n\n\n

Now, BSV (a different altcoin) has a market cap of $863 million and a price of $44.8 per unit. Finally, we have Bitcoin Gold<\/a> (BTG). This is also a forked coin from BTC, in existence since 2017. Its \u2018raison d’\u00eatre\u2019 was to change the original system to ban the expensive mining<\/a> with specialized machines (ASICs). Instead, anyone with a graphic card could mine BTG.<\/p>\n\n\n\n

\"GPU-mining-Ethereum-altcoins\"
Nvidia GPUs (graphic cards) example. <\/figcaption><\/figure><\/div>\n\n\n\n

Bitcoin Gold currently has a market cap of $294 million and a price of $16 per unit. As we can see, none of the Bitcoin names above can yet compare its numbers to the original BTC<\/strong>. The latter has a market cap of $441 billion and a price of around $23,000 per unit [CMC].<\/p>\n\n\n\n

Other widely used Bitcoin names: Wrapped, BEP2, and RBTC<\/strong><\/h2>\n\n\n\n

Other Bitcoin-named tokens, contrary to BCH and similar altcoins, don\u2019t pretend to compete against the original BTC. Instead, they were built to be representations of the first cryptocurrency in different blockchains. In a similar fashion to a stablecoin<\/a>, they\u2019re pegged to the Bitcoin price at a 1:1 ratio (more or less). They\u2019re not \u201cBitcoin\u201d, but they\u2019re equivalent assets outside that system.<\/p>\n\n\n\n

\"Bitcoin-names-types-BTCB\"
WBTC, BTCB, and RBTC logos. BTCB is identical to BTC, but isn’t the same.<\/figcaption><\/figure><\/div>\n\n\n\n

Let\u2019s remember that every blockchain<\/a> is a different platform, with no native communication between them. That\u2019s why the Wrapped Tokens were created. You can\u2019t use \u201cBTC\u201d inside Ethereum or BNB Chain, for example, because they\u2019re independent chains with their own native assets. But you can acquire an equivalent token in price:<\/strong> en Innpakket Bitcoin<\/a> (WBTC \u2014 on Ethereum) or a Bitcoin BEP2 (BTCB \u2014on BNB).<\/p>\n\n\n\n

That\u2019s the same case for the sidechain RSK. They have the token Smart Bitcoin (RBTC), pegged to the BTC value. It\u2019s their native asset for transaction fees and smart contracts execution, but again, isn\u2019t BTC. All these Bitcoin \u201ctypes\u201d must have collateral in BTC behind them. If that fails, if their native networks fail, they could lose their value. They couldn\u2019t be sold as original BTC.<\/p>\n\n\n\n

Besides, their market capitalizations are also different from the original BTC.<\/strong> WBTC has a market cap of $4.1 billion, BTCB has $1.2 billion, and RBTC has $79.8 million. The price also varies a bit: WBTC is at $22,940, BTCB is at $22,970, and RBTC is at $22,851 [CMC]. The Bitcoin names could be crucial to the price, after all.<\/p>\n\n\n\n

Bitcoin scams<\/strong><\/h2>\n\n\n\n

We already talked about altcoins and wrapped tokens. Now it\u2019s time for the scams<\/a>: fake services, websites, wallets, and platforms that take the Bitcoin names to deceive (and rob) people. A great example of this is the scam network Bitcoin Evolution<\/a>. Also known as many other \u201cBitcoin + last name\u201d, like Bitcoin Revolution, Bitcoin Time, Bitcoin Trader, Bitcoin Future, Bitcoin Superstar, Bitcoin Lifestyle, Bitcoin Era, Bitcoin Storm, Bitcoin Loophole, Bitcoin Billionaire, Bitcoin Norway<\/a>, etc.<\/p>\n\n\n\n

\"Investment-scams-Bitcoin-Norway\"
Bitcoin Norway, one of the fake domains. Source: IB Group<\/figcaption><\/figure><\/div>\n\n\n\n

They usually attract users through social media, with fake articles about famous people investing in their platform and becoming rich overnight. Then, they ask for a minimum investment of $250 and promise to multiply it with automatic trading<\/strong> or other investments. Of course, they never do that. They just steal the money and change their domain when it\u2019s scammed enough individuals.<\/p>\n\n\n\n

In these cases, the victims could say they \u201cinvested\u201d i Bitcoin<\/a>, but that\u2019s not true. They never had any coin at all, indeed. They just deposited fiat money into a dubious website, which happened to use the name of Bitcoin for malicious purposes. Bitcoin is a decentralized cryptocurrency, and, if you really own some coins, you should have your own private n\u00f8kler<\/a>.<\/p>\n\n\n\n

Check what you\u2019re buying!<\/strong><\/h2>\n\n\n\n

The crypto industry involves a lot of money and communities, so, it could be easy for a beginner to get lost. With the increasing number of Bitcoin types and names, getting confused seems more likely. But there\u2019s some data you can check before buying any token<\/strong>, to make sure you\u2019re in the right place.<\/strong><\/p>\n\n\n\n