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Summary

Bitcoin Cash is positioned as a practical cryptocurrency that adheres to the original vision of digital cash, offering fast, low-cost transactions without the need for intermediaries.

Abstract

Bitcoin Cash (BCH) is presented as the realization of the original Bitcoin vision, emphasizing its ability to process instant, near-free transactions and its robust network capable of handling over 100 transactions per second. It is described as a decentralized, permissionless blockchain that prioritizes financial empowerment by enabling users to be their own bank with minimal equipment, such as a $50 smartphone. The infrastructure for BCH is said to be ready for mass adoption, with a growing ecosystem of wallets and merchants accepting BCH directly or through payment facilitators. The article contrasts BCH with Bitcoin (BTC), criticizing BTC's approach to scaling and its alleged departure from Satoshi Nakamoto's intent. Bitcoin Cash is touted as an efficient, scalable, and user-centric system that is inclusive and serves everyone, particularly those in less privileged economic conditions.

Opinions

  • Bitcoin Cash is seen as a common-sense approach to cryptocurrency, aligning with the vision of a fast, borderless, and P2P electronic payments system.
  • The article suggests that Bitcoin Cash is superior to Bitcoin (BTC) in terms of transaction fees, speed, and adherence to the principles outlined in the original Bitcoin whitepaper.
  • There is a critique of BTC's scaling solutions, such as Segwit, Lightning Network, and Replace-By-Fee (RBF), which are viewed as compromises that hinder Bitcoin's potential as a disruptive monetary system.
  • The article implies that Bitcoin Cash is more aligned with Satoshi Nakamoto's vision than Bitcoin (BTC), which is portrayed as having submitted to the traditional banking system.
  • It is argued that Bitcoin Cash is ahead of the competition and is building a foundation for mass adoption due to its low fees and instant transactions.
  • The piece expresses a view that cryptocurrency users will ultimately choose Bitcoin Cash over other cryptocurrencies because it is fast, cheap, and user-friendly.
  • There is an assertion that Bitcoin Cash empowers users by providing a permissionless and borderless network for day-to-day transactions.
  • The article suggests that Bitcoin Cash's recognition as a leading method of transaction is not just an investment opportunity but also a practical tool for everyday use.
  • The author criticizes the narrative that Bitcoin should not upset the banks, arguing that Bitcoin Cash is designed to challenge the status quo and provide financial freedom to its users.

Bitcoin Cash

Be Your Own Bank With A $50 Smart Phone and BCH

Bitcoin Cash is Common Sense

Bitcoin Cash is the digital equivalent of cash that covers the market demand for instant and near-free transactions following the original intention of the whitepaper for a fast, borderless, P2P electronic payments system.

The Bitcoin Cash blockchain has proven its robustness and can accommodate more than 100tps/second, with the capacity to keep scaling as demand for cryptocurrency payments keeps increasing.

The network is protected and secure, and the fees remain consistently below one cent, making BCH a practical cryptocurrency.

The BCH network of merchants is expanding, with thousands accepting Bitcoin Cash directly for payments. More than a hundred thousand merchants accept it directly (P2P) or with payment facilitators like BitPay, prompt.cash, Coinbase Commerce, Gocrypto, Rakuten, PayPal and more.

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Be Your Own Bank With A $50 Smart Phone and BCH

Bitcoin Cash brings the digital cash revolution right to your mobile device.

It only takes two minutes to download a wallet and another two minutes to learn how to send and receive BCH instantly without anyone else controlling the funds but the user.

Bitcoin Cash Wallets:

The infrastructure is ready for mass adoption. Bitcoin Cash is under constant development with the core vision to make money better for a better world.

Bitcoin Cash works with a 32MB blocksize limit, and in 2024, it will contain the Adaptive Blocksize Limit Algorithm (ABLA) that will solve the hands of developers and focus resources on several more developments.

Bitcoin Cash has no Segwit, Lightning, or RBF. There is no need for sidechain solutions as the blockchain scales as Satoshi intended.

With 0-conf and DsProofs, Bitcoin Cash secures fast transactions that take less than a second to perform.

TxStreet is a website giving real-time blockchain statistics depicted in a cartoonish style. It resembles the transaction system as a bus stop and the transactions as the people waiting in line to enter the bus.

Between these two buses, which one would you choose?

Can’t be anything else but Bitcoin Cash with fees lower than a penny and instant, borderless, and censorship-resistant transactions through a decentralized, permissionless blockchain.

This is what we sign up for, an efficient blockchain network aiming to become the world’s leading method of transactions.

Bitcoin Cash is ahead of the competition, and this will stay this way for a long time.

Decentralization secures a tamper-proof network and transactional censorship resistance.

Yet, with Bitcoin (BTC), censorship resistance becomes a luxury only a few can afford.

Why do BTC maximalists promote that everyone should run their own node while Satoshi never intended this?

The reason is to choke the network and make it unusable (with a low blocksize limit forcing high fees), aiming to reduce Bitcoin’s disruptive monetary potential (and Core succeeded in that).

Bitcoin in the BTC version is opposing financial freedom. Under Blockstream, Bitcoin submitted to the banking system.

Saylor suggests that we should not upset the banks and BTC maximalists cheer. Other bankers involved will always tell you it was never about payments, never a cryptocurrency, never aimed for mass adoption as P2P Cash, and was not for the people who live with less than $2 per day.

How will Bitcoin not upset the banks?

By rendering it unusable on a massive scale with bottlenecks like RBF, 1MB limit, and custodial mechanisms that strip Bitcoin from its revolutionary features.

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Bitcoin Cash serves absolutely everyone, but most of all it serves the people.

Bitcoin Cash is not excluding anyone, and presents a decentralized, efficient and scalable system of payments.

The world is slowly embracing Bitcoin Cash with adoption increasing in online and physical locations, while it is also one of the most recognized cryptocurrency brands.

Users will have to choose between cryptocurrencies, and they will select those that are fast and cheap.

Bitcoin Cash has enabled this and is building the foundation for mass adoption.

It is common sense that when crypto payments become mainstream, the public will select Bitcoin Cash.

In Conclusion

As Kim DotCom explains to these Bitcoin proponents, it is clear that Bitcoin Cash has better and bigger targets than what Bitcoin has today.

The Bitcoin Cash ecosystem is not only attractive to investors, but most of all, it attracts users.

It is people who want to use their mobile wallets for their day-to-day transactions, to pay for bills, and groceries using an instant system with low fees, a permissionless and borderless network that empowers the user.

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Originally published at read.cash in 2021 (updated and rewritten)

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