Bitcoin Cash has seen exciting developments throughout the last year, especially after dealing with internal issues with part of the previous community that disembarked and created spin-offs like BSV and BCHABC (now Ecash).
Having passed two civil wars in just four years of existing, Bitcoin Cash had also lost backing from some investors that had to pick a side and followed the forks of BCH instead.
This changed nothing though, and Bitcoin, against all odds, rises again from its ashes like a Phoenix.
Video Credits: The Bitcoin Cash Podcast (Read.Cash link)
Since the final split in 2020, Bitcoin (BCH) has found its way again. It began a reconstruction process, and everyone together works now in consensus towards the common goal. With overwhelming support by all constituencies, Bitcoin Cash becomes the top efficient, secure, and decentralized network.
Bitcoin Cash fights Cencorship, Intimidation and Overwhelming Resources
The Bitcoin Cash community comprises highly skilled and intelligent individuals with a clear vision and understanding that the success of the blockchain is of utmost importance. Improvement of efficiency and new opportunities that arise are equally important to expand adoption in new fields.
Most working in Bitcoin Cash today are early adopters of Bitcoin. These are all people that cared not only for the price of Bitcoin to rise but also realized the scalability concerns and how small blocks were restricting Bitcoin’s odds of success.
Bitcoin: A Peer-to-Peer Electronic Cash System
Source Bitcoin.com
This is what Satoshi also envisioned for Bitcoin. To become a massively adopted currency that would scale and reach adoption levels of Visa/Mastercard. Always out of reach for financial hubs, with no trusted third parties, far from the centralized perception of the established financial system.
Bitcoin is about the separation of money and State.
Since the hostile hijack of the Bitcoin brand by Blockstream, the corrupt and soon to be obsolete financial establishment found a new competitor. Bitcoin Cash was formed by early adopters, developers, and miners that wanted to see Bitcoin succeed as a robust payments network.
Source Bitcointalk: "Scalability and transaction rate"
Source Bitcointalk: "[PATCH] increase block size limit"
Source Bitcointalk: "[PATCH] increase block size limit"
It is only a few lines of code and a civil war broke out in the Bitcoin Community that found the small-size blockers victorious (against what Satoshi and most early in Bitcoin envisioned).
According to Blockstream, Bitcoin can't scale on-chain. Yet, Bitcoin Cash proved this was always a made-up excuse to cripple Bitcoin and promote sidechains as Liquid and LN (Lightning Network) as solutions.
A lengthy one-sided debate ended with a fork in 2017 that created Bitcoin Cash.
Hypocrisy and Control of Information
Part of the BTC community is just repeating the lies the Blockstream propaganda machine feeds them. Bitcointalk, Bitcoin.org, Cointelegraph, Bitcoin Magazine, are all using manipulation tactics to censor constructive criticism and only promote narratives coming from the top of BTC leadership, Blockstream.
Part of the current BTC maximalist community truly is convinced Satoshi’s intention wasn’t about the creation of a digital currency but a digital asset instead that would be a hedge against inflation, recession, or any other economic difficulties.
Satoshi indeed envisioned this but in the form of a currency. Satoshi created Bitcoin for all people, not just the fund managers that have now grown into the new BTC maximalists.
Bitcoin allows everyone to participate without restrictions. It became a threat to the establishment in 2010 when WikiLeaks kicked the hornet’s nest.
Source Bitcointalk: "dfg - (original post was deleted)"
Satoshi wanted Bitcoin to be under the radar of authorities for more years before organizations that were considered controversial by governments standards adopted it. Yet, WikiLeaks started accepting Bitcoin in December 2010 and was the first proof that Bitcoin was working. It was a method to bypass the centralized financial establishment (Visa/Mastercard, bank transfers, Paypal) and fund initiatives that were being censored and persecuted for bringing the truth to the world.
Bitcoin became the first online free market, and of course price manipulation and trading as part of the system, yet the big players wanted from Bitcoin a few things that in the beginning weren’t available.
A regulated environment
Custodial mechanisms
KYC/AML compliance
Ability to censor/restrict
Financial hubs that would perform all the above under regulators' scrutiny
This was how Bitcoin was going to be tamed, but also crippled on-chain, losing its fundamental features that were making it a financial disruptor.
The answer is Bitcoin Cash
Bitcoin Cash doesn’t follow the rules the funds and banks set. It doesn’t bend over, beg for regulations and doesn’t dismiss the people.
It is Bitcoin, but not as Blockstream wanted it. It is the original Bitcoin, with the code changes Satoshi and the early adopters wanted to see from Bitcoin.
After all these years, the reaction of BTC maximalists is still the same:
Planted BTC shills that will react to criticism with ad hominem (personal attacks) and “Ima_Wreckyou” style of keyboard violence. Their reaction has nothing to do with answering based on the context of the comment, but as usual, changing the subject and displaying juvenile behavior.
If you don’t agree with the maxis, then you are a “shitcoiner”. No matter if this coin is the real Bitcoin, the BTC maxis will still counter any argument with aggressive responses out of context, and changing subjects.
There is no response to the centralization LN brings as a layer-2 when the main chain doesn’t work properly. Of course, this LN-Coiner already knows this. Just replies that it is all “bulls**t “and resorts to personal attacks since this is always their way out of a serious question.
Probably not everyone is a paid shill, but it is obvious they just react like brainwashed puppets without convincing arguments and diverting attention from the core context. I guess, I’m just a random “shitcoiner” with no right to express an opinion, but the maxis would love to see censored and banned from all media.
Ad hominem is the approach when there are no arguments left. This guy knows nothing about me, so he categorized me within his imaginary “shitcoiners” list. It is the aggressive, dictatorial approach as set years ago by Theymos, Maxwell, Back, and the rest of the gang.
In Conclusion
Against all odds, Bitcoin Cash is revolutionizing the financial system, increasing adoption, and becoming appealing to investors of Defi with recent side-chain developments (SmartBCH).
It empowers the masses against corruption and censorship and is the only hope left for the separation of money and State. It is scaling on-chain and the second layers produced are not a requirement but an addition that expand the already broad horizons.
True freedom is achieved by Bitcoin in the form of Bitcoin Cash.
Bitcoin is freedom, and like it or not, Bitcoin Cash is Bitcoin.
Images:
Lead Image from: Pixabay, by EyeShotYou (modified)
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As I have alluded to many times recently, I think BCH can one day overtake BTC, and partly because I think if one coin has the ability to have true portability, something I think is paramount to cryptocurrency as a whole, that coin happens to be BCH. Of all of the coins I have looked at, albeit being fairly new to the "game," it seems to me that BCH has all the goods it needs to be successful. It would not be a surprising thing to me at all to walk into major retail establishments one day and see "Bitcoin cash accepted here" right alongside the typical Visa, Mastercard, Discover, and Amex stickers we always see.
I think it is coming, it is just a matter of time, and for that reason alone BCH tends to dominate my interest in the crypto space.