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Bitcoin Cash and its True Competition

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Written by   60
2 years ago

Bitcoin Cash is not competing with Bitcoin (BTC). Bitcoin Cash is not competing with Ether or any of its tokens. Bitcoin Cash is not competing with ANY cryptocurrency for that matter. Bitcoin Cash isn't even competing with Venmo, Zelle, or any fast fiat payment system or other any other banking solution.

So what is the point? What else is there to compete with? Why does Bitcoin Cash exist? The true competition is more fundamental than anything mentioned so far. Bitcoin Cash is competing with the base layer of money itself (or rather what people think of as money). Bitcon Cash is competing with US dollars, euros, British pounds, and every other fiat monetary system out there.

Ignorance Reigns...For Now

Most people in crypto really have no idea that this is the level of competition that it's all about. I think there was a time when most people in the space knew, but not anymore. Most people simply have dollar signs in their heads as they dream of "cashing out" their crypto investments for huge gains in the fiat world. By all appearances, the cryptocurrency space has become a speculative wasteland with nothing more than a decent ROI to offer. But the real gains to be made are so much more grand and revolutionary that it takes courage to actually recognize it.

Anyone who has ever taken a critical look at the modern central banking system and its massive fiat money-printing machine can see the inescapable future. One day fiat money, with all its power and prestige and seemingly total control over states and the masses, will utterly fail (and depending on your definition of failure, it already has). Trillions of dollars' worth of "wealth" will vanish basically overnight and, sadly, the average Joe will have no idea why such a thing is happening or how it's even possible. It will be as if the very ground beneath our feet, so stable until now, will have been removed.

[To learn a little about why this will happen, I recommend watching Mike Maloney's YouTube series, "The Hidden Secrets of Money"]

No doubt the powers-that-be have a backup plan for when their monetary system descends into chaos, whether it's simply a redo for fiat, some crypto-fiat hybrid monstrosity, or something completely different. Make no mistake, Bitcoin (BTC) has already been co-opted to be part of that backup plan, to either play a major role or to be an irrelevant sideshow. And every other coin and crypto fanboy that claims big blocks can't scale and blockchains can't serve as money for the world have similarly been co-opted to serve the next phase of fiat garbage that's surely in the works.

A Light Shining in the Darkness

Despite the mess we find ourselves in, there is hope. Bitcoin Cash is the backstop for a total monetary breakdown. It's meant as a completely superior drop-in replacement for the global monetary system. Its purpose is to serve as a decentralized and neutral system that will perform the basic functions of money for the entire world better than anything in history.

All this is why people just don't seem to get Bitcoin Cash or the people who love it! Bitcoin Cash fans and fans of other cryptos have completely different metrics for success. Each side talks past each other because each side has completely different visions and goals than the other. Most people in crypto simply want "number go up". Bitcoin Cash fans want to change the entire world through its money. That's not to say that Bitcoin Cash users don't care about things like market capitalization. Market cap will surely come into play at some point. But in a world where fiat can seemingly do the impossible and print trillions of dollars in a few months and apparently retain its value, the market is just not begging for a completely different monetary system yet. And so we wait and we prepare. Nobody knows how long the market can go before an alternative form of money seems reasonable to the masses, but rest assured, it will seem reasonable at some point.

Faith, Hope, and Peer-to-Peer Cash

So if people want to claim that fans of Bitcoin Cash are more like a religion than a cryptocurrency community, then so be it! If it is faith, then it is faith in market forces and a recognition that the market will soon demand something better. If it is devotion, then it is devotion to a liberated currency subject to consumer demands rather than the whims of the state and the elite. If it is hope, then it is hope that people all over the world can engage in commerce without being censored or subject to the tyranny of wealth-destroying fiat money.

So bring on the jokes and insults. Call it "bcash" and laugh at the current prices. But you won't find a community so dedicated to scaling to serve as global money or solving monetary problems the world doesn't even know it has. We know who we are, what we are doing, and what the true competition actually is. That's Bitcoin Cash.

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Avatar for fixthetracking
Written by   60
2 years ago
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Someone, somewhere,
could make a bullet list of the most significant coins
with their most important decentralized/permissionless/p2p/conversant defect.

Like this:
BTC is only p2p for a minor fraction of anything anyone might consider a market.
ETH has issues with fees that seem to be unsolvable.
LiteCoin ?
Monero ?
Nano ?

see also:

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