Bitcoin Cash can be so much more

Saturday, August 29th, 2020

I think it's safe to assume most of us are here because we all see the huge potential for Bitcoin Cash. We want BCH to usher in a new era where states have less power, and people have more freedom to use their money however they want. We want a world where everyone is able to participate in the global economy no matter who you are or where you live. We want a world where great ideas can more easily find the money needed to execute on those ideas, helping to level the playing field and increasing humanity’s efficiency overall.

But BCH is so far from reaching such heights it's laughable.

As the BCH community undergoes yet another civil war over its identity and path forward, I think it more or less boils down to one thing: Who do you trust?

I know, Bitcoin is supposed to be trustless, but the reality is we have to put our trust in something, or someone, because the network isn't going to scale itself. So do you trust a bunch of hobby developers working for donations? Or do you trust Amaury Sechet and the IFP?

You've probably seen the memes. I know we joke about Amaury being "Our Dear Leader" (ODL) and how ABC supporters are in a cult, but the fact is I probably wouldn't still be invested in this project if not for Amaury.

Over the last three years I've spent an inordinate amount of time soaking in everything there is about BCH. I’ve read countless articles, listened to interview after interview, and spent an inordinate number of hours communicating with people on Twitter and Telegram. Because one of the things I enjoy most about being involved in this space is how much it makes you think and use your brain. And no one has made me use my brain more than Amaury Sechet.

Some think the IFP is just some easy money grab. For example, a former ABC employee who recently parted ways with them described the IFP as "Amaury’s selfish, callous and clumsy attempt to destroy Bitcoin Cash and vulture away the pieces."

Another former friend to ABC, Jonald Fyookball, recently wrote an article stating: "Amaury’s IFP is incompatible with Bitcoin Cash for a simple reason:  It’s essentially nothing more than one man’s decision to siphon millions of dollars worth of (unearned) Bitcoin Cash directly to his own wallet."

While I can't predict the future, the one thing I know for sure is that Amaury isn't doing this to make a quick buck. I guarantee you he is looking at a much bigger picture, and to think otherwise is downright foolish.

I can understand people not liking the idea of the IFP because it's too radical for them, but to think that Amaury is "jamming this down everyone's throats" simply to pocket a couple million dollars is not only ridiculous but reveals your own lack of vision.

So how can I be so sure he isn't trying to exit scam? Because like I said, it comes down to who you trust, and I trust Amaury more than anyone to lead the Bitcoin Cash project.

I made this meme not so much to attack Freetrader, but to make clear the difference between Amaury and every other developer in BCH. Because to me nothing would be more bullish for BCH than to have ABC come out on top this November and allocate 8% of the coinbase to fund infrastructure (almost all of which comes at the cost of BTC miners).

As Joannes Vermorel said, Amaury is the CTO you can never afford, the CTO who is both smart and gets shit done.

Am I politicking? I suppose I am. But I'm politicking because I think we need to get behind Bitcoin ABC to have any chance to succeed. I'm not here to be in some cult or to hero worship. I'm here to make money and be a part of the process that makes our money better.

In my experience, it's rare to find a team like Bitcoin ABC that is truly worth investing in, a team that has proven itself, a team you can have high expectations for and know they will hold themselves accountable. I'm sorry, but I can't say the same for any of the other node teams in BCH.

I hope the miners can see what this opportunity really means. It's a choice of losing .2% of your profits for a period of time to try and quickly scale the network, versus having the entire industry die within ten years because we couldn't scale. As Satoshi said many years ago, in 20 years there will either be very large transaction volume or no volume. Time is of the essence.

For those who think we would be doing fine if not for this "IFP nonsense", I think you're delusional. I've used just about every application that has been built on BCH and none are ready for prime time. I am hoping that the IFP can change that, but if it fails to gain support this November I have to believe that BCH has failed and the incentives are broken.

Miners, your time is running out, and you have more incentive to fund infrasturcture than anyone in the BCH ecosystem. Your futures depend on scaling the network because if we don't eventually have large transaction volumes there will be no volume.

Finally, for those who are against the IFP because you think it goes against the principles of Bitcoin, I ask you to reread the conclusion of the whitepaper.

Tell me, how is the IFP not permitted under what's stated below?