The unfinished Bitcoin war

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Avatar for Jnavedan
1 year ago

Bitcoin: Beyond the block size war

I just saw a Vlogger talking about the block size war in the Bitcoin community that transpired during 2017.

I thought, "there is a lot of excellent content here explaining the perspective of what really happened and the current consequences. So, no point in delving into it any further." 

But will those newbies to the platform know about it? 

Obviously! This person is convinced that BTC is the bitcoin that won the 2017 war because the market proved the maximalists correct.

Moreover, he claimed to favor BTC, the decentralization supremacy (number of Nodes), and the growing participation of institutional capital in the project.

Not to mention the praise for the Lighting Network, the Taproot upgrade, and the SegWit improvements.  

For a moment, I believed everything he was saying. But the climax was when he analyzed and compared the price behaviors by market capitalization between BTC and BCH.

The numbers are misleading and hide the real battle beyond price and greed.

When I heard that Bitcoin Cash in the 2021 bull market did not reach its all-time high, as did other cryptocurrencies that share the market dominance zone. I said to myself, why didn't it happen? 

A light bulb lit up inside my head. Because in reality, BCH is going against the grain by keeping Satoshi Nakamoto's original purpose: to become the peer-to-peer money that people need to get rid of the intermediaries.  

I couldn't believe the Vlogger ignored the obvious. 

The maximalist narrative praises the dominance of the BTC market and how big investors in traditional finance dabble in it. 

Perhaps, the crux of the matter was not to take out those who have generated the latest market debacles, as happened in 2008.

Well, memory is shortened when it is fueled by the promise of easy profits. 

I watched the video to the end. Yes, it was a publicity exercise, not a work to educate crypto newbies. 

Another thing the Vlogger forgot to comment on was the libertarian spirit beyond technical reason in the block-size war. 

Yes, Bitcoin was conceived as the natural evolution of money in the information age. In that sense, it should not feed the remoras of the fiat system. Nor should it be dressed up as something new that it is not.

However, it seems that BCH is being defeated. It is no longer in the Top 10 by capitalization. Consider the war is not over yet, and the winds of fortune can change at any time.

I think we are being fooled by the bidding in the crypto. These are orchestrated to prepare for the arrival of the enemies of change and the evolution of money. 

Yes! The enemies to be defeated are Central Bank Digital Currencies (CDBCs).

There is no doubt in your mind. Ethereum, Cardano, and Polkadot, only to name a few, are not enemies by mass adoption.

You only need to look beyond and stop listening to the snake charmers.


Source: Image by Gerd Altmann on Pixabay 

Final thoughts

Without intending to, I rambled on a bit about my view of the war for control of people.

Money is (and always has been) the perfect tool to keep you in line.  

The goal is to keep you a slave and happy to be a slave.  

No wonder the hateful claim that you will have nothing and be happy. 

At least Bitcoin Cash and others that share the libertarian DNA give you hope, a light at the end of the tunnel.

So don't fall for the manipulation of BTC maximalists.

In fact, I am convinced that many of them are still numb and defend their positions with the best intentions of the ignorant.

I wish them also to wake up before it is too late.

An original article by @Jnavedan

The thumbnail by Satheesh Sankaran on Pixabay 

Cover image by Praveen Nanu on Pixabay 

I end by thanking all my colleagues in the community, who add value every day here. As well as all my sponsors for believing in the content I share with you.  



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1 year ago

Comments

A good argument you made there

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1 year ago

Hello, my friend.

Yes, I just followed common sense based on a different perspective than the dominant narrative.

Greetings.

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1 year ago