BCH has already achieved victory, saved P2P cash, and changed the world

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Avatar for MuhsamaK
3 years ago

I don't have a lot more time today because I have already spent part of this morning writing some long comments, so I am going to make this short. [Edit: I failed to make it short. Sorry.] The logic is very simple: Bitcoin Cash has achieved its goals and won its battle against Bitcoin BTC.

In order to understand why, we need to revisit Bitcoin Cash's win conditions. What was it trying to achieve by not following BTC into its strategy of artificially restricting its block size? Was it trying to destroy fiat? No, that would be silly. Even if fiat inflates into irrelevance, making crypto a much better option, fiat will obviously still continue to exist. Destroying it was never on the table, so the goal can't have been to destroy fiat but merely to offer consumers a better option, one that couldn't be inflated to bail out the rich if we take Satoshi's message seriously referring to the banking crisis in the genesis block. BTC was straying from that path which was foreseeably leading to a removal of that option in favour of fractional reserves, and we have seen it play out exactly that way with Strike/Chivo and their largely phony adoption of the Lightning Network. By refusing to go along and sticking to the roadmap suggested by Satoshi Nakamoto, Bitcoin Cash prevented that outcome and preserved that option for the consumer. Thus, it has achieved exactly what it set out to do when it comes to its relationship with fiat.

What about other cryptocurrencies? Was Bitcoin Cash's goal to destroy those? Does Bitcoin Cash only 'win' if the other coins lose? No, that can't be the win condition either, because everyone knows how difficult it is to actually destroy a cryptocurrency. The goal can't have been to destroy BTC, because that would be stupid. The goal has to have been to offer a better option, a truer-to-principles option, preserving that genuine choice of decentralized peer-to-peer cash for consumers. And Bitcoin Cash has succeeded in doing precisely that.

As evidence for Bitcoin Cash's very high level of success in preserving genuine P2P cash as an option for consumers, I would cite all the many short lists of crypto adoption that Bitcoin Cash has been included in. Every time you see a new big industry player adopting a short list of cryptocurrencies, Bitcoin Cash is almost always on it. That is what victory smells like, my friends. I won't cite them individually because I am running out of time, but anyone paying attention has seen Bitcoin Cash cropping up on adoption list after adoption list, over the past year. It's a highly under told and under-upvoted story. The choice of using P2P cash is being preserved for everyone the world over because of this community's efforts. If it were not for BCH making it into those budding multiplexes, which are orders-of-magnitude more important than any price chart, things would be looking a lot grimmer for the future of P2P cash.

So thank you, everyone here, for your successful efforts, on behalf of -- well, the world -- and congratulations! The next stage of this battle is, I think, to be good citizens of the crypto multiplex, allow everyone to have their say, allow every set of coin supporters their free speech, and then convince them to switch to Bitcoin Cash, anyway, because our arguments are simply better, and the product we are supporting is the closest thing in crypto to implementing the genuine dream of P2P cash. That is an incredibly powerful idea, and it's on Bitcoin Cash's side.

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Avatar for MuhsamaK
3 years ago

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