Why am I writing about Bitcoin BTC DeFi, RSK, and Sovryn? Instead of Bitcoin Cash and SmartBCH.

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2 years ago

In this article, I will explain why I am encouraging the usage of Bitcoin BTC and its sidechain RSK. The first reason is that I am an explorer and like to use new stuff to learn, and because to me, nothing teaches better than just using the tools you are given and seeing what you can do without it. I will believe that low transaction fees will determine the best chain in the future once mass adoption is a reality.

In El Salvador, people can now use Bitcoin. They don't need to buy it; they can receive it as payments, meaning that they can get Bitcoin to sell whatever other property they have by utilizing the government's tools. Unfortunately, Chivo is not a wallet; it is like a bank account, where the user doesn't control its private keys. It is subject to seizure and whatever other practice the governments think is beneficial. And it exposes them to an authoritarian government in the future. Still, they will only notice if they use different products and realize that their low transaction fees come at a price: privacy and control over your own money.

People must learn that using a Bitcoin lightning network with a custodian is just another risk, but people can open their channels with their wallets. For that, I have used Electron and Simple Bitcoin Wallet; people must learn to use and open channels and discover the fees for using LN the proper way, and the users will be the ones that will decide if opening such channel was worth it and as such if using Bitcoin second layer is worth it for their respective experience and usage.

My next article will be to open a channel to use RSK bridge so that people can finally know the actual fee for using Bitcoin the proper way. And yet, once they are in the RSK network, they will find out that transactions in that sidechain also have costs, and they will have to decide if it is worth it to pay the higher fee. Not to mention the bridges fees to get there in the first place.

If people decide that Bitcoin BTC fees are worth it, they will stay with Bitcoin, and their money will move to that network. Still, I expect Bitcoin layer one transactions to increase in price because of usage, and the same for RSK fees will go up in the sidechain.

Once people get tired of Bitcoin's high fees and its sidechain with increased costs, they will look for a solution to their problem. I will be here writing about Bitcoin cash. They will remember that a forum that promotes Bitcoin Cash is what taught them to get into Bitcoin, warning them about the high fees, and if they use it and experiment with BTC and don't like the results, they will come back to Bitcoin Cash and its sidechain SmartBCH.

I think my plan is insidious, just like Roger Ver said, encouraging usage and letting the people decide what is best for their wallets. If the Bitcoin Cash community is right, those same people will come back with a vengeance. Don't forget to remind people that Bitcoin Cash is a thing that works better than what we now call Bitcoin BTC, a high fees network and soon to be more expensive with user adoptions.

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2 years ago

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Exactly first we should give learning about BTC and BCH and they are people that will decide which is better for them. For me it is better to invest 10 cents in BCH rather than BTC because I know BCH is real Bitcoin.

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