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UnitedCorp Files Opposition to Dismiss in its Suit Alleging Hijacking of the Bitcoin Cash Network by Bitmain Group, Bitcoin.com, Roger Ver, Jesse Powell, Kraken and Bitcoin ABC Developers
UnitedCorp Files Opposition to Dismiss in its Suit Alleging Hijacking of the Bitcoin Cash Network by Bitmain Group, Bitcoin.com, Roger Ver, Jesse Powell, Kraken and Bitcoin ABC Developers.
About this update from United American Corp
[{"type":"text","content":"\nMIAMI, March 20, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE --  Miami-based United American Corp (\"UnitedCorp\") (OTC: UAMA) announced today that their legal counsel Akerman LLP has filed a Consolidated Opposition to Defendant's Motions to Dismiss Complaint in its suit against Bitmain Group, Bitcoin.com, Roger Ver, Jihan Wu, Kraken, Jesse Powell, Amaury Sechet, Shammah Chancellor and Jason Cox (the \"Defendants\"). The opposition was filed after the Defendants filed a motion to dismiss the UnitedCorp action on February 1st 2019.\n The suit is the first antitrust action brought in the United States involving the cryptocurrency industry. It alleges that the Defendants collectively engaged in unfair methods of competition, and through a series of deceptive and unfair practices, manipulated the Bitcoin Cash network for their benefit and to the detriment of UnitedCorp and other Bitcoin Cash stakeholders. Their alleged actions resulted in the network losing more than US $4 billion in value as a direct result of the alleged hijacking of the network, in addition to a forced network fork with the implementation of their specific new rules set in the Bitcoin ABC 0.18.5 version under the control of the Defendants. UnitedCorp alleges that these new rules set have irreparably harmed the Bitcoin Cash blockchain network and Bitmain, along with the co-Defendants, should be held liable. UnitedCorp alleges that the Defendants colluded to effectively hijack the Bitcoin Cash network after the November 15, 2018 scheduled software update with the express intent of centralizing the network. This includes allegations that Roger Ver, along with Kraken and developers of Bitcoin ABC, colluded with Chinese-based and Chinese government-financed mining rig manufacturer Bitmain to unfairly redirect hashing power at the exact moment of the scheduled software update, forcing the implementation of Bitcoin ABC software centric checkpoints and thereby moving the network away from its native Bitcoin-based blockchain design. UnitedCorp also believes that the attempt to dominate the network in favor of a particular Bitcoin ABC version was enhanced by Bitmain's use of firmware known as \"Overt ASICBoost\" which provides significantly increased operational mining efficiency. This firmware was made available in advance of the last Bitcoin Cash update by Bitmain on...