Bitcoin Fee Removal.
In Bitcoin Cash (BCH) **it is generally unavailable to send a single Satoshi (0.00000001 BCH)**.
Further a minimum mining fee is part of the equation.
I contend that bootstrapping the entire planet to Bitcoin ownership must be democratized.
To date the burden of advocacy and adoption is skewed unfairly to individuals and companies with the means and capital to overcome the floor.
Let us learn from the viral theory of how a single stand of RNA can lead to rapid adoption when a new host becomes a vector for transmission.
Bitcoin Cash's R0 (Basic Reproduction Number) is too low, so virulence is curtailed.
Full worldwide spread and adoption of Bitcoin Cash as the base layer of international currency has never been more in reach if we get out of our own way.
The impending lock-down and banking and financial currency system instability is highlighting our **self-imposed** adoption handbrake: **Minimum Transaction Limits.**
CLARION CALL: Release the virus that is Bitcoin Cash! Repeal the TX minimums.
**#FreeTheSatoshi #ViralAdoption #BitcoinForAll**
Addendum: I noted today an exchange from Satoshi Nakamoto to Mike Hearn:
“I don't anticipate that fees will be needed anytime soon, but if it becomes too burdensome to run a node, it is possible to run a node that only processes transactions that include a transaction fee. The owner of the node would decide the minimum fee they'll accept. Right now, such a node would get nothing, because nobody includes a fee, but if enough nodes did that, then users would get faster acceptance if they include a fee, or slower if they don't. The fee the market would settle on should be minimal. If a node requires a higher fee, that node would be passing up all transactions with lower fees. It could do more volume and probably make more money by processing as many paying transactions as it can. The transition is not controlled by some human in charge of the system though, just individuals reacting on their own to market forces.” - Satoshi Nakamoto.
TLDR; I think Satoshi was correct, and to this extent Bitcoin Cash is failing itself.
Code is Not Law.
Code has to compile, avoid race conditions, be opinionated on the scope, impact, availability and application of singletons, have clear data access, create and modify permissions, be consistent and generally return the same result at runtime given identical input.
Law doesn't.
Law is probabilistic and not deterministic. Is inconsistent and poorly replicated across runtimes. Sustains impossible internal contradictions and does not ensure output or logging of operations are useful in debugging.
Law is the inferior and poor cousin of code. Code is useful to build and reason about the world.
In the absence of code, law is a poor proxy and substitute for reliable civic systems design and the best we had for many years.
Bitcoin Cash as International Reserve Currency
Look close: At the nexus of violence, banking and taxes you will find the real ‘seat of power’ the three legs of the stool of government, influence and control. People have been bamboozled. Hoodwinked. Deceived and distracted in a sea of extortion without anchor or sight of dry land.
The obvious purpose of Bitcoin has always been to emancipate us from this bondage. Repealing the power of the State and to afford us the individual liberty to prosper under unprecedented equity of purpose and potential unlocked by rewriting the rulebook of civil affairs.
Bitcoin Cash’s adoption can see to it that a privileged and elite class of ruling interests with insoluble control over the legacy capital system no longer holds sway or a mortgage over the time and productivity of each person born.
Bitcoin Cash adoption in all material facets of commerce, trade and international settlement in payment for labor, goods and services as a material replacement for International Reserve Currency is and must be the urgent and full obligation and aspiration of Bitcoin Cash advocates, developers and evangelists.
Bitcoin Cash adoption is a purposeful and peaceful act with profound and universal benefit in unshackling people from the control and exploitation of the corrupt and working-as-intended legacy financial system experienced today.
Bitcoin is moving into 2020 at critical tipping point for mass adoption.
*“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” - THE SUN ALSO RISES, Ernest Hemingway.*
It is over a decade since the launch of Satoshi Nakamoto's seminal work: "Bitcoin: a Peer-to-Peer Electronic Cash System" and a little over two years¹ since Bitcoin Cash (BCH) split² away from the Bitcoin Core (BTC) project.
Bitcoin Cash (BCH) has succeeded in pursuit of a pure-play digital cash protocol scaled for the entire world, growing user adoption and use in everyday commerce focused on the goals set out in the Bitcoin Whitepaper.³
Bitcoin Core (BTC) eschewed and actively stepped away from the Bitcoin Whitepaper orphaning its stated objectives under the influence, control and at the behest of Blockstream, Bitcoin Core developers and the BTC community. It has in effect adopted a neo-focus drift-strategy of minting a digital 'store of value'/'digital gold' token at the expense of becoming the world's "Peer-to-Peer Electronic Cash".
With time and the benefit of hindsight these two projects (Bitcoin Core and Bitcoin Cash) now bear very little everyday resemblance to each other in terms of team, community, technology, enterprise and market focus. As we turn the calendar towards the year 2020, Bitcoin Cash (BCH) now handsomely fills the void left in Bitcoin Core's (BTC) wake in terms of merchant adoption, brick-and-mortar in-store payments and online payments for consumer goods and digital content across a range of entertainment and publication media genres.
A lot of the work needed to finalize the cash and payments protocol of Bitcoin Cash (BCH) has since been completed and delivered in 2019. Current software compatible with the Nov 2019 Upgrade now unlocks an embarrassment of riches in terms of the commercial opportunities for programmable digital money.
It is likely we are about to witness a wave of financial tools and competition for capital denominated in cryptocurrency simply replacing the traditional faith and expectation of market reliance on nation state currency.
At a macro level, the endless and inescapable number-go-up-fiat-currency supply of 'easing' or simply 'inflation' or debasement as it should more correctly be described of national currencies in multiple nations at the same time that the associated atypically low interest rates have fueled historically unprecedented levels of debt start to show signs of crumbling prior to a broader collapse sending shockwaves of default, conflict and mistrust across world markets.
A public justification for political reaction and response is gifted as a financial crises deepen. It is ceased upon ideologically by governments, enclaves of power and at the intersection of global banking and geopolitical influence. 'Don't let a good crises go to waste' goes the refrain. Taking the thoroughly predictable and deliberately engineered crisis as yet another opportunity to enact unpopular and extraordinary new powers eroding freedoms and individual liberty is par for the course.
As an antidote prescription to this coming totalitarian financial noose and grand economic reset, citizens in the real economy now have an escape hatch: Bitcoin Cash (BCH).
Businesses, cities, towns, islands, diaspora and organizations and individuals are free to anchor economic activity on Bitcoin Cash (BCH) and pursue a renaissance of wealth, prosperity and entrepreneurship. Exploring these greenfields is the information revolution of our day.
This is the principle value proposition and utility of Bitcoin Cash (BCH), as a global unit of account, store of value and medium of exchange. I believe the best possible gift you can give yourself is the knowledge, education and possession of Bitcoin Cash (BCH) leading into 2020 and beyond.
So how will we likely see Bitcoin Cash (BCH) rise as national currencies crash and burn around the world? I'd say Hemingway was prescient in The Sun Also Rises, as that shift is going to be “Gradually and then suddenly.”
If you want to learn more about Bitcoin Cash - visit: https://bitcoincash.org
¹ Bitcoin Cash block #478559 1 August 2017
² User Activated Hard Fork (UAHF).
https://github.com/bitcoincashorg/bitcoincash.org/blob/master/spec/uahf-technical-spec.md
³ Bitcoin: A Peer-to-Peer Electronic Cash System https://www.bitcoin.com/bitcoin.pdf
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