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Bitcoin Cash is a Threat

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Avatar for IMightBeAPenguin
Written by   54
1 year ago

When it comes to Bitcoin Cash, the coin gets a lot of hate from outside communities (specifically ones that are censored) including r/Bitcoin and r/CryptoCurrency. I know for a while, I didn't take Bitcoin Cash seriously until I learned about the truth behind Bitcoin, and how it had gotten hijacked by conflicting interests. I had been following the r/Bitcoin forum, but I wasn't an active member in it. I initially thought that Bitcoin Cash was a scam created by Roger Ver for his financial gains as an elaborate "bait-and-switch". The whole "Mt. Gox is solvent" (though that is NOT what he said) video did not help with the image I had of him. The r/Bitcoin narrative, and the popular opinion managed to convince me that the only reason that Bitcoin Cash is cheap is because nobody uses it.

Now this got me wondering why social attacks take place on Bitcoin Cash, and not on other coins like Ethereum, Monero, Nano, or even Bitcoin Bitcoin Gold. The common argument behind this is that it is "stealing" the Bitcoin name and brand to scam people into buying it. I find this an extremely weak line of reasoning because I've not seen the same complaints about Bitcoin SV or any other forks of Bitcoin. It all seems to be focused around Bitcoin Cash. Often times people will assert "If your coin is so good, why do you need to have 'Bitcoin' in the name? You should just re-brand and call yourself something else". This shows a clear lack of knowledge on how hard forks and disagreements within the community happen.

Both Bitcoin Cash and Bitcoin were the same coin, and have the same shared history (until the split). Both Bitcoin Cash supporters and Bitcoin supporters were Bitcoin supporters before the split, and we still identify strongly with the idea of "Bitcoin", and if a hardfork is going to take place (on Bitcoin), it is bound to take the "Bitcoin" part in its name because a) The Bitcoin branding is strong, and it communicates the idea that Bitcoin Cash is related to Bitcoin, and b) It's what the community that forked off believes Bitcoin should be. When looking at r/btc, it's clear that many people spend several days or even months creating accounts just to say "BCH bad, BTC good", or "BCH is bad because number go down. BCH is a dying project". It doesn't make sense for someone to comment that a project is a "dying project" if it is indeed a "dying project".

When asked about this, trolls tend to say something along the lines of "I'm concerned for others and don't want them to lose their money". Frankly, this is bullshit. It only takes 5 minutes of research to realize that Bitcoin BTC and Bitcoin Cash BCH, are different coins. If someone can't tell that difference (despite how clear it is), chances are they shouldn't be investing their money into crypto. It's an obvious attempt to try and mock those in support of BCH, and annoy people within the community. Not only is it not productive in any way, it is an obvious attempt to try and bring down BCH. What do they hope to accomplish by doing this? Constantly going on a sub where you know people will have views that oppose yours, and then expressing your controversial views not in the form of debate, but rather mocking simply to get a rise out of others. I think in a vague sense, they want to take Bitcoin Cash down to bring up Bitcoin. This brings a quote in mind:

Blowing out someone else's candle doesn't make yours any brighter

If someone feels that Bitcoin Cash isn't a threat in any way shape or form, they would not bother wasting their time to make comments every day to try and degrade those who do support it. Let's not forget: A lot of these trolls don't even bother posting on r/Bitcoin, despite it being more suited to their views, and solely use their account to comment on r/btc. Despite Bitcoin Cash having a relatively low value to Bitcoin, these people are still adamant on posting and commenting every single day. I think this proves one more thing: It's not the price that matters. It's the fact that the very existence of Bitcoin Cash gives it the potential of being a replacement to Bitcoin. Anytime the price rises, trolls are seemingly quiet about it, and don't make any comments, but when the price goes down, all of a sudden, the trolls are there to comment, and post saying "BCash is trash", "BCrash", and "BCH will go to $0.00" rather than bringing any actual arguments to the table.

Before anyone goes commenting on people on r/btc criticizing Bitcoin, the analogy doesn't apply. There's a difference between criticizing Bitcoin on a Bitcoin Cash sub as opposed to going to a Bitcoin Cash sub and mocking people in that community for the purpose of riling them up.

To summarize it: Bitcoin Cash is a threat to Bitcoin, and if people outside of the community really think it is a dying project, they wouldn't bother going specifically to that sub to try and bring it down. If something is dying as a project, it shouldn't be worth your time because it is irrelevant.

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Avatar for IMightBeAPenguin
Written by   54
1 year ago
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Comments

Who can't people tolerate/respect someone else's preferences? It's a shame for all of us. I choose to embrace both BCH and BTC because since the day I stepped into crypto, I had the idea of a world with bunch of coins used for different purposes. I want this world to be saved from fiat currencies backed by nothing. Now we have solid projects, strong digital currencies with distinctive features. It's neither about BCH nor about any other coin. They all serve for some unique purposes. I think one of the reasons of this pointless hatred is stemming from IGNORANCE. They just want to hype their favorite coins and do not tolerate to see the rest. That's ridiculous!

I hope one day people learn to embrace the differences that make every single thing unique. Thanks for raising awareness on this point mate.

$ 0.00
1 year ago

BTC COMMUNITY ONLY DEGRADE THE BCH JUST LIKE HOW THEY DID IN BSV. SEEMS BCH WILL BE ONE OF THE TOP CRYPTO SOON SO WE MUST MAKE A COMMUNITY FOR THAT

$ 0.00
1 year ago

If we compare BTC and BCH in terms of price, BTC is worth more. But if we compare the technology, BCH is way ahead and is continuing to build products and services. I believe our younger generations will see the differences and choose BCH. But right now, the people picking BTC are just individuals who have been overly brainwashed into thinking that BTC is a better coin. They just haven't opened their eyes yet, or may never will. In the meantime, BCH is being built for our generation and the generations after us. Crypto will be huge in the future as it continues to mature it's way into society.

$ 0.00
1 year ago

BTC has gained popularity all over the years and it was good that it was invented or more likely developed by those who are behind it. But just like us humans, it has flaws that most of the community have agreed upon and it resulted to the hard fork in August 2017 which is the Bitcoin Cash. Yes it is what you have said about BCH being a threat to Bitcoin because people are now embracing for its fast, cheap and reliable features. I thank Bitcoin because it brought up many opportunities to small and big company but BCH has the characteristics that people wants and wanted for years. Simply put, Bitcoin Cash is a project that has resolved the Bitcoin's deficit. Thanks for the wonderful info buddy!!!

$ 0.00
1 year ago