Sunday, 1st of August 2021 Bitcoin Cash completed another year after having forked from Bitcoin Core (BTC), becoming the day of independence for Bitcoin Cash. The day was celebrated around the world by the Bitcoin Cash community scattered across the five corners of the planet.
But, still there was a little confusion about the 1st of August, while some celebrated the day as independence day, others confused the day as the birth of Bitcoin Cash, which is wrong.
When was Bitcoin Cash created and how August 1st came about
Bitcoin Cash was created in 2009, its genesis began that year and its founder/creator was Satoshi Nakamoto. Bitcoin Cash is Bitcoin and nowadays it had this name because it was forked from Bitcoin Core (BTC) by differences of ideas, while some preferred to keep Bitcoin Core (BTC) with the same block capacity, others however wanted it to have a increased block of processing power (the Bitcoin Cash wing) and that would continue to maintain the fundamentals laid out in the original Bitcoin whitepaper: fast transactions and cheap fees as well as tight security all in a peer-to-peer electronic cash system.
These fundamentals of Bitcoin Cash would increase the adoption of currency globally (which Bitcoin Core was supposed to do) as a form of peer-to-peer payment and would give man more freedom to choose which currency to use, which one he likes most and all this is done in a decentralized way where man becomes his own bank.
Following the establishment of ideas in a practical way the 'followers' of Satoshian ideas had their independence on August 1, 2017, where Bitcoin Cash took its fork and took its course and continued to defend the true ideas of a blockchain network affordable for everyone.
That's how Independence Day is born, celebrated yesterday, August 1, 2021, which completes four years after the split with the mother network.
There's only One Bitcoin Cash creator
Although the split occurred with Bitcoin Cash leaving Bitcoin Core, it had no other creators, Bitcoin Cash was and will always have been an invention of Satoshi Nakamoto, the father of cryptocurrencies, only he can be given the credit for having created a decentralized economy system.
What happened and that also deserves to be mentioned was the capacity of the Bitcoin Cash wing, that is, those who defended the importance of Bitcoin to scale and increase its block size and thus continue with the capacity to process more transactions and quickly , is that they kept the roadmap as well as the Bitcoin whitepaper. With this, if we look closely, Bitcoin Cash is everything Satoshi always wanted it to be:
Bitcoin Cash is accessible to everyone, your transactions are fast, fees are cheap and network security is highly unbreakable.
However, we have prominent figures who before fiercely defended and promoted Bitcoin Core to become notable in Bitcoin Cash, the case of Roger Ver, which deserves mention, after all he always did his best to make Bitcoin Cash successful and today be what it is in the market. Many other people, miners and software developers played a leading role in spreading and firmly framing Bitcoin Cash in the square and without mentioning names (as there are many) the Bitcoin Cash community owes them a warm mention.
But let's be clear that the only one to create Bitcoin Cash is Nakamoto.
Bitcoin Cash is accepted by merchants all over the world
When Bitcoin Cash was granted there was already a pretty clear idea why. The currency works for payments and as an investment currency like any Fiat or better than that, and in this wave, Bitcoin Cash has become notable among merchants around the world who are willing to accept the currency for their products.
Merchants around the world, as we can see on map.bitcoin.com, are accepting the currency unconditionally for their merchandise, this acceptance is direct and does not require the interested buyer to exchange the currency for fiat money. Here the peer-to-peer payment system is used and the seller as well as the buyer do not have to involve any intermediary company for the payment to proceed.
People can use Bitcoin Cash at any merchant that accepts it to buy staples, pay for a meal at a restaurant, buy mobile top-ups or even pay for TV subscription service, pay for a page domain etc.
Bitcoin Cash works in real life like Satoshi predicted it without have to exchange for Fiat.
Not all..
Bitcoin Cash can also be used for money remittances and thus bypass the very high fees required by companies in the industry. A few years ago it was practically impossible to make a remittance of value and have it received on the same day by the beneficiary party and all this while paying very low fees. Nowadays, using Bitcoin Cash workers who work far from their homes can send money to their families and have the money available in a matter of seconds.
Bitcoin Cash connects overseas workers and families in their home countries in record time, making remittance companies less and less relevant in the process.
One last thought to Conclude
In the 4 years of Bitcoin Cash's independence a lot has been done and will still be done (with the introduction of SmartBCH still improving), where the use and adoption of the currency will be of vital importance for people who care about their freedom and autonomy to use your value in the way that suits them.
In the four years of independence you can also notice the growth of the Bitcoin Cash community, in the past the currency was not known at all, but platforms like noise.cash or even read.cash boosted its diffusion in the world. It may seem insignificant to many eyes but recognition of Bitcoin Cash as the world's decentralized digital currency is on the rise.
What matters to people is the usage of the currency and if it has usage, it will have whoever wants to use and adopt it.
Bitcoin Cash is peer-to-peer electronic cash that works for payments both in the virtual world and in the physical world and that receives daily support from people all over the planet. It is smart money that does not need government authorization for its issuance and that values the freedom of those who use it.
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...'read five of my latest articles about BCH and more:
Thank you for the information. Wow, BCH is really something! I wish I had known about it earlier.