Pantera

Summary

The article argues that Bitcoin Cash proponents ("Bcashers") were correct in their vision for Bitcoin's scaling, criticizing the current state of Bitcoin (BTC) for its high fees, slow transaction speeds, and reliance on custodial wallets due to the inefficiency of the Lightning Network (LN).

Abstract

The article, titled "“Bcashers” Were Right About Everything," presents a critical perspective on the scaling debate within the Bitcoin community. It suggests that Bitcoin Cash (BCH) advocates have been vindicated in their stance that on-chain scaling is essential for Bitcoin to function as a global currency. The author supports this claim by highlighting the limitations of Bitcoin (BTC) in handling transactions efficiently, leading to high fees and slow confirmation times. The article also points out that the Lightning Network, proposed as a scaling solution for BTC, has not lived up to expectations, resulting in increased use of custodial wallet

Bitcoin

“Bcashers” Were Right About Everything

Is the BTC side of Bitcoin rightful to claim the crypto throne, or perhaps was it those guys that the maximalists derogatory dubbed Bcashers (Bitcoin Cash)?

It appears that the Bcashers were right about absolutely everything.

In my new video, we explore a short collection of remarks from various individuals in the Bitcoin field. These statements provide sufficient information as a starting point on the subject of Bitcoin’s scaling.

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Here is a graph that explains the progress and competence of each one of us in the Bitcoin universe:

I remember myself at the peak of Mount Stupid and also realizing a little later that BTC was only going to be a temporary gamble with boom and bust cycles that repeat, each time with way less effect.

A network that does not scale is not worthy of any investment.

A currency that can’t be used at a massive scale (not even at a smaller one) due to high fees and slow speed is not a currency.

LN does not work, therefore we watch the rise of custodial wallets like the Wallet of Satoshi. BTC is becoming PayPal, but nobody wants a worse version of that.