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The Bitcoin Classic team has announced the closure of the project. The decision was caused by the appearance of another bitcoin fork Bitcoin Cash and low demand for scaling solutions within the community.

Bitcoin Classic was a hard fork project that offered an alternative vision of the scaling problem, opposing to the implementation of the Lightning Network solution instead of supporting the block size limit increase. Bitcoin Classic team called for the immediate increase of the block size limit from 1 MB to 2 MB and to 4 MB  within the next two years after the activation of the hard fork. But the project ideas did not meet the broad support from the bitcoin community.

The letter, signed by developer Tom Zander and published on the Bitcoin Classic website, says:

"Over the next two years, a lot has happened. A lot of very competent people have attempted to do what Classic attempted. With grander and fairer offers and still ultimately the lowest demand for growth. And all failed to move the Legacy Bitcoin chain towards a scaling solution. Any scaling solution!"

The Bitcoin Classic team accused the Bitcoin Core team of the inability to develop the network and “heavy divergence” from the vision of its creator, Satoshi Nakamoto.

Bitcoin Classic team expressed support to the Bitcoin Cash project, which was activated and forked from the original bitcoin blockchain on 1 August 2017.

“The fact that the Legacy chain is stuck at 1 MB, and likely always will be, confirms the Cash chain's viability.”

According to the Bitcoin Classic team, within the next six months, users will move from the original bitcoin and migrate to Bitcoin Cash, which will be called simply bitcoin, without the cash prefix, because it is the successor of Satoshi Nakamoto's ideas.

The same point of view in mid-October was expressed by Roger Ver, the investor, and ideologist of Bitcoin Cash, who was one of the supporters of Bitcoin Classic during its active period of work.

“Although the Segwit-chain inherited the name “Bitcoin,” the Bitcoin Cash chain much more closely resembles the version of Bitcoin which sparked the entire digital currency boom by being an exemplary electronic payment system,” Ver wrote in a statement.

The Bitcoin Classic project was launched in January 2016 by former Bitcoin Core developer Gavin Andresen. Bitcoin Classic at the time of the launch was supported by the same bitcoin enthusiasts, who later supported other alternative scaling solutions. The list of Bitcoin Classic supporters included developer Jeff Garzik, one of the ideologists SegWit2x, investor Roger Ver, a supporter of the recently appeared fork Bitcoin Cash, the general director of the American bitcoin-exchange Coinbase Bryan Armstrong, which in May 2017 signed the New York agreement.