Bitcoin Cash (The Real Bitcoin - Arguments)
Most of the prominent Bitcoin Cash supporters believes that Bitcoin Cash is the real Bitcoin. This thoughts has created a massive hate especially from BTC Maximalist, some other exchanger that was controlled by BTC Maxi's are trying to delist Bitcoin Cash due to their so called “fake claims” that it was the real Bitcoin causing threat to the Bitcoin itself.
Some BTC Maxi's are doing their best to suppress Bitcoin Cash price, dumping their Bitcoin Cash bag (all BTC holders after the 2017 hard fork got Bitcoin Cash) and do naked shorting of BCH in Binance. Bitcoin Cash has very bad image in public due to BTC Maxi's trolls, spreading that BCH ecosystem was created from rebellion against BTC.
Bitcoin Whitepaper
Bitcoin Cash supporters does not claim “BCH is the real Bitcoin” without any valid points, if you read Bitcoin: A Peer-to-Peer Electronic Cash System, the Bitcoin whitepaper you will understand that Bitcoin Cash is doing what Bitcoin was supposed to do.
It is clearly said “A purely peer-to-peer version of electronic cash” that allows online payments to be sent directly without going through financial institution (banks). Did Bitcoin follow it's whitepaper? No.
Bitcoin was created to compete with credit cards to make transaction faster, decentralized and low cost fees but it's so ironic that the current situation of Bitcoin BTC is not working what is supposed to be but instead Bitcoin Cash is doing that.
The block size war pushed real Bitcoin (BCH) to fork from the crippled Bitcoin network. SegWit doesn't want to increase the block size limit and remain 1MB until now causing the network to be congested and making the transaction fees higher. To aid the transaction fees they created a layer 2 which is the Lightning network, but the transaction fees is still higher and the speed are still slower than in Bitcoin Cash network.
Some Bitcoin maximalist suggest to use credit cards instead to avoid high transaction fees, which is very odd because on Bitcoin's whitepaper it's purpose is to eliminate intermediaries, to be purely a “peer-to-peer.”
Bitcoin Maximalist don't want intermediaries (banks) to be turned off so they'll keep attracting top dog players to pump the crippled network. Bitcoin was high jack by big institution and doesn't care about it's whitepaper anymore.
In that sense why don't they just restructure their whitepaper, right? So new people coming into crypto will not be confused.
Why do BTC have high transaction fees?
Due to its small block size (1MB), it cannot cater many transactions causing so much traffic in the network (congestion) and if you want your transaction to be front run you have to pay higher fees, that is why it has high transaction fees.
What if Bitcoin will be adopted as digital cash world wide, isn't it funny if you buy a cup of coffee worth $1 and you'll pay $50 for gas fees just to make your transaction be in front to make it fast? You pay more on transaction fees instead of the goods you are buying, this problem was solved by Bitcoin Cash..now who is the real Bitcoin?
Why Bitcoin doesn't want their block size to increase?
Simple. They want profit. Miners are earning huge with the transaction fees. They want it to be a “digital gold” so they can profit a lot, instead of following the peer-to-peer electronic cash.
Bitcoin Cash is the real Bitcoin
This answer why Bitcoin Cash is the real Bitcoin because it continues the vision of Satoshi Nakamoto and this is the reason why BCH has many haters as of now, not just BTC maximalist, imagine eliminating banks is an ambitious vision and it takes time to make that happen, it's even uncertain if it'll happen. But when the world is fully educated it might happen just dunno when, only time can tell.
So if you are in BCH, behold, you are becoming part of the biggest revolution in the financial industry if one day it'll eliminate banks.
Just like the revolution of internet, people are uncertain about it before but look at now. BCH has to face a lot of set backs before it becomes successful.
Conclusion
This is why you should not sell all your BCH into fiat (cash) hold something for future. BCH has 21 Million supply only, world population is around 7 Billion and you are lucky to be one of the 21 Million people who can hold BCH! Don't sell everything, if you want to be part of the financial revolution in the future!
Educate yourself by reading the Bitcoin whitepaper first (this is what Pantera always advice) so you will understand why “crytocurrency” exist.
It is not supposed to be an investment tool, but due to its limited supply, top players are diving in to trigger the supply and demand principle. When there are more demands, the price increase as the supply decreases and when the demand is less the supply will increase causing the price to drop. This is applicable in Bitcoin Cash too, as it has the same supply limit with Bitcoin BTC. When 21 Million supply was mined already, miners will stop mining. The only way to reward validators (nodes) are through transaction fees. If that happens I don't know if BCH transaction fees will still be the same, what do you think? (I'm not certain about this yet, you can answer if you know.)
Unlike fiat (local currency) the supply is infinite, the banks can keep printing money causing inflation as time goes by.
What does inflation means?
It's when you have a lot of cash, but you can buy goods and services in limit because the price are increasing. This is the current happenings of the world, everything is pricy now. Having lots of cash is useless because it's value keeps depleting due to inflation rate.
This is why some investors invest in cryptocurrency.
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Date Published:
June 7,2022(Article#:3)
Na remind ako na mag increase dun sa mga nakastake na BCH ko somewhere hehe.