Bitcoin Cash Separates Money And State

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3 years ago

"Making society more productive would require limitations to that power, and the people who spent a career gaining power are not likely to give it up voluntarily."

Quote from: link

The main reason Bitcoin didn't scale can be derived from this title. Infiltrators from Blockstream used textbook excuses to block progress and development and prevented the brand name "Bitcoin" from dominating finance.

It would have been a very different world today if Bitcoin was allowed to scale instead of imposing useless solutions like Segwit and the Lightning Network.

Bitcoin, as a brand name became mainstream in 2013 and reached a peak in popularity by 2017.

Governments were worried since 2013 and a massive misinformation media campaign commenced with Bitcoin being portrayed as a villain and an enemy of our societies.

The effect Bitcoin could have had, if Blockstream didn't block its progress, would have been massive. We would be living in a different and better world right now. This is why governments intervened and delayed the inevitable.

Source of Image: link (modified)

It is still inevitable that Bitcoin will remove the power of finance from governments control and empower the individual. This was going to bring a massive shift of power from the state to the people if it happened as rapidly as Bitcoin was progressing.

Bitcoin was going to become so powerful so fast that states were not going to be able to do anything about it. The threat of decentralized P2P cash taking over a big part of the traditional financial system was real, and steps had to be taken.

Governments were in disarray for a while as they couldn't figure out how to ban Bitcoin. Shutting down all nodes and all miners was impossible and they needed to figure a way to reduce the rapid expansion of this network.

Source of Image

Bitcoin progressed and upgraded but not with its old BTC version. It is now Bitcoin Cash and better than even Satoshi was imaging it:

The current system where every user is a network node is not the intended configuration for large scale.  That would be like every Usenet user runs their own NNTP server.  The design supports letting users just be users.  The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don't generate.

"Quote from: bytemaster on July 28, 2010, 08:59:42 PM

Besides, 10 minutes is too long to verify that payment is good.  It needs to be as fast as swiping a credit card is today."

See the snack machine thread, I outline how a payment processor could verify payments well enough, actually really well (much lower fraud rate than credit cards), in something like 10 seconds or less.  If you don't believe me or don't get it, I don't have time to try to convince you, sorry.


Source: BitcoinTalk

The famous Satoshi quote: "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

The above is an answer to Dan Larimer's question if Bitcoin was able to compete with bank cards in terms of speed.

When taken out of context it means nothing and BTC shills are abusing this part without even caring about Bitcoin scaling, which is what is basically discussed in this bitcointalk thread.

Currently, the BTC version of Bitcoin is crippled. 12 years later and there is no mass adoption, no use case for snack machines and nobody is even considering adopting Bitcoin as a means of payments.

Source of Image

BTC remained static, didn't develop, and did not scale.

Meanwhile, the real Bitcoin progressed and advanced to meet demand within Bitcoin Cash. The real Bitcoin kept moving forward to become P2P Electronic Cash and developments around it suggest it can become even more than that.

Separating money from the State is important for the new age of progress and financial evolution.

Bitcoin Cash is the epitome of financial progress and inspires a productive future far from big governments.

A system based on trustless code an environment where we can validate instead of having to trust governments or traditional financial institutions. Bitcoin Cash offers complete financial freedom and includes everybody.

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3 years ago

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no use case for snack machines and nobody is even considering adopting Bitcoin as a means of payments.

Can't even buy a lousy pizza at "Bitcoin Pizza" with Bitcoin.

Bitcoin Cash carries forward the peer to peer electronic cash standard.

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3 years ago

Well again another great article by you, governments were not going to give up their power to print money that easy, Blockstream and Faketoshi are government in my opinion but they have only divided the community only a little but the Core reminds loyal to the true vision of the white paper, government infiltration can only put the plan behind schedule only for a while but eventually, the progress will continue.

The government will have no choice but to show their true face that they are essentially just a dictatorship with a mask, Bitcoin BCH peer-to-peer electronic cash system is well and alive within BCH community, and we are creating new tools to bring that idea to the future. They just delayed the inevitable for a while, but the advance of p2p is unstoppable.

If nothing more they just made it possible for others to get in time and multiply their satoshis, because I know that at the end of the day, Bitcoin BCH will conquer the crypto market and be number one. SmartBCH will help with that. The number of daily transactions will increase with that tool not to mention the value of each transaction as well.

Bitcoin BCH will have programmable and usable money as well, cheap reliable transactions with added privacy if you must use those features, and not to mention that zero conf will continue to work, making it possible for transactions below $100 to be as good as confirm.

Censorship and misleading information can only take you so far, and the BCH community is working hard to prove everyone wrong, hard word beats everything, even talent. Once again my responses are articles.

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3 years ago

BCH. The future digital cash. That's all I can say 😁

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3 years ago

Your title Bitcoin separated money from state.Actually,bitcoin give freedom of money that is main thing and a pile of people gathered in its flag.Stat want tax and control of people account but it is opposite in true sense of bitcoin.BTC has more block stream affect and has biased status.With time originated don't know how but a new crypto originated that is BCH.You have good concepts about the real Crypto.

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3 years ago