Bitcoin BCH is a peer-to-peer electronic cash system.

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Avatar for francis105d1
2 years ago

Suppose you go back a few years ago and read the Bitcoin white paper, which in my opinion, is the soul and purpose of the Bitcoin software creation. In that case, you will find out that at first glance, the paper's title is "Bitcoin a peer-to-peer electronic cash system," and right until 2017, that software was working just like the white paper described, but after that, the faithful year everything change.

What you and I know as Bitcoin is no longer is Bitcoin, and it doesn't work as described in the white paper, nor does it works if you try to use it as such. What you and I know as Bitcoin has high transaction fees that make it impossible to use as a cash system, and the solution proposed by the leaders of the Bitcoin BTC project is just centralized. Lightning Network, in most cases, is pushing new users to use more and more custodian services or outright stopping the adoption of the project as a way of payment or any commerce. You can only use Bitcoin as a speculation asset if you are forced to leave funds with custodian services to avoid high fees.

Just because your speculation asset goes up in price, it doesn't make it a store of value asset, and it just makes it a very volatile investment. Meanwhile, Bitcoin Cash supporters have been forced to add the name Cash to Bitcoin and change the ticker symbol to BCH even when Bitcoin BCH works as the white paper describes. The community is already embracing the peer-to-peer adoption narrative and promoting Bitcoin BCH as the real Bitcoin not just because it works but because by definition.

Bitcoin BCH is not a fork; it is the original Bitcoin by definition and utility. Bitcoin BTC is a fork of the original Bitcoin by definition and utility. As such, a copy of a complete split of the original idea written by Satoshi Nakamoto in the past.

Bitcoin Cash is the real Bitcoin because it works as the white paper describes, so it has the utility definition behind it, and it is the real Bitcoin because Bitcoin BCH hasn't changed the narrative. The whole community uses and names Bitcoin a peer-to-peer currency, and it is one thanks to the fact that rich and poor can use it in commerce. Meanwhile, Bitcoin BTC is a copy of the original because the whole community that supports that project has adopted the narrative of a store of value, meaning that they are OK with transaction fees that are expensive and that can go beyond $10 per transaction. And they are a fork because they can't be used as a currency because of the same high fees and their community narrative.

The people who decided to name the fork Bitcoin Core and give it the ticker symbol BTC will lose if peer-to-peer is adopted. Banks and governments, and the rich and powerful lose their control and power if they can't print money or if what they publish is no longer used by the population. The exchanges are the ones that gave the ticker symbol BTC to Bitcoin Core, and those exchanges love the store of value narrative because that means that people won't trade between each other, so as a result of that, you will always end up exchanging your satoshis for fiat at exchanges.

Exchanges will be the first the lose if the population adopts peer to peer currency narrative because eventually, all goods and services would be priced in satoshis. If your salary is paid in satoshis, too, at that point, fiat exchanges become useless and not needed.

Governments, banks, the rich, and exchanges benefit if Bitcoin is adopted as a store of value because you will always exchange into fiat. The peer-to-peer narrative means all of those mentioned before lose because eventually, you won't use their services to get goods and services. Also, many altcoins will die out because once you have a Bitcoin that works, you wouldn't need that many altcoins. Those that can lose if Bitcoin BCH is recognized as Bitcoin have every incentive to prevent that from happening at your expense.

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2 years ago

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I feel bitcoincash is still the best P2P exchange that you can sell at any time.. why do I say this, most time I don't even need to use the exchange app before I sell or buy BCH, I have other friends that Hodl BCH and when they need fiat currency I'm having but I need BCH, with the low gas fee, it very easy to exchange between one another with much lost, in fact without any lost

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