Bitcoin Cash Is the Bitcoin We Signed Up For

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Avatar for Pantera
3 years ago

We prefer to see P2P adoption for Bitcoin Cash, still, this is a permissionless environment and anyone can create centralized wallets and offer Bitcoin Cash in the way PayPal is doing.

In a way, PayPal restricts crypto features of freedom to transact by including barriers in commerce through its app, be it with crypto or not.

The issue is the government's pressure that currently promotes the use of crypto only under registered financial institutions, following a mandate of regulations as KYC/AML enforcement and systems that can seize funds and reject transactions.

Gavin Andresen, ex-Bitcoin Lead Developer

Every centralized intermediary Crypto rendered useless is back again with the form of regulations restricting innovation. It is only the BTC crowd that keeps applauding and advertising the importance of “slight” regulations.

Bitcoin Cash for Freedom

Most of the crypto community is not advocating custodial wallets and services, but it is not something we can stop from taking effect. We can simply keep educating the public on the dangers hidden within these services and explain the correct approach to using cryptocurrencies.

Because of the permissionless features and the open-source nature of Bitcoin Cash, BTC, Ethereum, etc., any financial institution can create custodial services and offer a trading platform, or centralized wallets.

Yet, for the Bitcoin maximalists, it is just another achievement, an indicator that the number will go up. Selling out values and giving away the freedom to transact without intermediaries does not matter.

BTC maximalists currently support centralized custodial wallets, such as Strike and Chivo. Also, they support an authoritarian regime forcing the use of a custodial Lightning Network within its economy. And keep promoting this kind of layer-2 adoption as the way forward for Bitcoin.

As we know, Strike doesn't require permission to create a custodial service regulated by the US government and offering LN transactions.

Still, there used to be an outcry against centralization in previous years, that has now been completely disintegrated within the dominating new narrative for BTC.

Number go up!

Because “NUMBER GO UP” is the only consistent Bitcoin ideology.

The price is what matters to the greedy neo-BTC maximalists. Values previously advocated mean nothing. It doesn't matter if banks are not in control yet, other financial institutions are driving a centralized adoption for LN.

See, it doesn't matter if a private company asks you to deposit your BTC and offer lightning-fast services. It won't be your Bitcoin.

Bitcoin cash instead is offering a way better solution to economic hardships than BTC. The importance of Bitcoin Cash achieving on-chain scaling is a strong card, one still not understood adequately by investors in this technology.

Bitcoin (BTC) does not scale on purpose. Blockstream's infiltration in 2014 under secret arrangements with major communication channels r/bitcoin and bitcointalk (both administered by Theymos) was detrimental to Bitcoin's crippling and underdevelopment. Blockstream, a for-profit private organization with ties and funding from AXA and Mastercard, took control of development and developers under its payment (Bitcoin Core) dictated future arrangements.

Currently, we have the Lightning Network fiasco in El Salvador and centralized services immediately finding ground that will most probably reach a market share of 99.9% of the LN network transactions exploiting the LN fundamental centralization flaws.

Why I choose Bitcoin Cash, by Collin Enstad

In Conclusion

BTC maximalists invented the phrase: “Not your keys, not your coins”. A narrative now neglected by the same people. Still pretty active in the Bitcoin Cash community.

BTC maximalists were calling for mass adoption in previous years. Antonopoulos used to explain how 15-year-old kids in Africa could become a bank of their own, with just a $50 smartphone and a Bitcoin wallet.

Narratives of an old era, when the same people were pure and not complete sellouts as they are today.

This is all about Bitcoin Cash today. Money for the world.

Bitcoin Cash didn't detach itself from core principles. It is a currency for the people, and I know already many kids in Africa with their $50 smartphone being their own bank and entering the new age of digital finance with the Bitcoin Cash version of Bitcoin instead.

These 15-year-old kids from Africa, understand Bitcoin better than Andreas does today.

Images:

Quote: David Gerard: link


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3 years ago

Comments

Possibly be more alive about the information you are passing across.

$ 0.00
2 years ago

Give me some $ plz please please please

$ 0.00
2 years ago

God will add more wisdom to the ones you have now,so that you will direct us more, am happy for you.

$ 0.00
2 years ago

Thanks greatly for this wonderful write up. You actually have massive information about Bitcoins. Possibly be more alive about the information you are passing across. Still find time to educate us the more. Very illustrative and analytical. Keep it up. Stay blessed.

$ 0.00
3 years ago

I think we have to show people how it can be adopted and how it can be better option than most of the crypto out there. That's the only way for growth for BCH.

$ 0.00
3 years ago

Increasing confidence in cryptocurrencies will attract more investment. If the doubts in the minds of consumers are cleared, trust is ensured and investments are paved.

$ 0.00
3 years ago

I do prefer P2P adoption but I am very conscious of the centralized wallet addresses which I use. There are many centralized which has a fragile security. Few days ago few trust wallet user complained about the wallet being hacked. We should educate the public about few security approaches to crypto currency... It's our duties

$ 0.05
3 years ago

There is one issue I may draw from this interesting and useful context. namely the role of government in the crypto world. there are countries that use digital currency or crypto and this is real. I may not know them why can't crypto money to be in society. this is where the important role of the government to see the progress. shall we sink from the Ancients or evolve.

$ 0.00
3 years ago

I believed that as time goes on,they will be in society, I hope it should be possible via collective efforts.

$ 0.00
2 years ago

I feel that governments are instead stalling innovation, progress, and prosperity. I can't trust any government. Just try to use the digital services your country has to offer. I use mine and they are like how the internet was back in the 90s. Servers with downtime, webpages that users can't interact with, a monstrosity that seems like a maze. The simplest request requires hours of trial and error. Governments don't understand efficiency. There is an army of government employees in each nation just to make your life miserable and support with vigor the need for a bigger government. Anyway, this is my view and my experience, maybe somewhere else, governments work to help the communities and the public.

$ 0.00
3 years ago

Yes, what you say is true, the government should be able to assess the progress of the current era. don't they want people's lives to progress and develop with this proud passive job?? questions that might be discussed. what I feel in the current state of the role in the crypto world is very helpful for everyone when a pandemic hits the world. many people are working from home and crypto is becoming the main goal of earning and earning.

$ 0.00
3 years ago

It is better to look at it for long term, since what you do is sell your future for fiat that will not matter too much soon.

$ 0.00
3 years ago

They will only do it when we produced a good people that can fight for it,without fear of any body.

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2 years ago

Yes, I totally agree with you. I am not surprised by what you tell about certain types of people. The world is full of hypocrisy when it comes to money. Furthermore, inherent greed makes man malleable, leading him to harm himself in the long run.

Fortunately, writings like yours help to illuminate the bastion to which we must cling if we want to be truly free.

Greetings.

$ 0.00
3 years ago

Thank you my brother,remain blessed, any thing that spoil must be reorganized one day.

$ 0.00
2 years ago

There is nothing we can refer to as freedom once the government policies affect the functionality of any coin, a lot of coin developers have been subjected to the laws and threats which has made them lose the value they are supposed to uphold.

That's not the case for BCH, a coin that stands despite being underrated. It is not Bitcoin if we are not talking about BCH

$ 0.05
3 years ago

You are saying the reality, more especially here in Africa.

$ 0.00
2 years ago

All I want is for Bitcoin Cash to take a position like Bitcoin. I know it will take time. But I hope it will one day. I don't know much about cryptocurrency. But as far as I know, Bitcoin Cash is working on its own. Your information is very useful for me.

$ 0.00
3 years ago

Yes my guy,Law's of gravity says things related to it,a drop of water can make an ocean,only time will it take.

$ 0.00
2 years ago