Bitcoin: A Peer-to-Peer Electronic Cash System.
created in 2009 by Satoshi Nakomoto.
(you know all this already)
Bitcoin has forked at least 10 times. This means there are at least 10 versions of Bitcoin. So what is the real Bitcoin?
the 10 or so forks (derivatives) of Bitcoin mean It's easy to be confused, by what is what. Especially to the new investors in the cryptospace.
The real Bitcoin (BITCOIN) activated a protocol upgrade called Segregated Witness (Segwit) in 2017 as an attempt to upgrade the Bitcoin network so it can perform more transactions for fewer fee's. The idea is to help Bitcoin scale more effectively in the future.
How: What Segwit does is remove the signature part of a transaction and puts it somewhere else. This effectively removes the 1mb limit on blocks and enables more transactions to fit in a block. I don't want to get to into the how and why ask Andreas he'll explain it a lot better than me. All I know is that it does. Thus the effect on the network is more transactions per block and cheaper fees.
This must be a good thing right? Yeah for the majority of people like you and me, maybe not if you are a miner because the slower the network means the higher the fee's. I guess you can see where I am going with this now.
The Attackers/Defenders......
Introducing Roger Ver a Bitcoin entrepreneur that earned the moniker 'Bitcoin Jesus' due to his early adoption and promotion of the Blockchain technology aka Bitcoin. He also managed to tarnish his reputation in such record time that he is now known as 'Bitcoin Judas' and here is why.
Roger insists that an Altcoin (BCH) that was created in August 2017 is the real Bitcoin. He has spent fortunes marketing BCH (Bcash) His marketing strategy is 'make as many people believe the real Bitcoin is BCH Bitcoin Cash'
What is the goal of this strategy? Does Roger want control? Does he wants a centralized monetary system controlled by the few, owned by the few? does he want to protect Bitcoin? Does he want a dictatorship over the network? Does he want to become a tyrrant? or is he just misunderstood?
Roger has a few influential friends namely Jihan Wu (who owns Mining Equipment Manufacturers Bitmain) they also own huge mining pools and they make a lot of money from Cryptocurrencies.
Are they trying to protect their future selves? maybe.
However, I think that protecting oneself while misleading the majority is not right. You have to have a certain level of conscientiousness to your fellow humans or they will turn on you. Hence the Bitcoin Judas moniker he is now more known for. It seems that the end game for them is 'Crypto Dominance' which i believe goes against the reason Bitcoin was invented in the first place.
Bitcoin is supposed to be about financial freedom and unbanking the banked. To prevent any person or small group to have control of the financial system.
Bitcoin Cash is Roger's currency. Just like Bitcoin.com is Roger's website. Roger also has shares in Coinbase. And like Roger all of these entities he is involved with has a big issue. Their reputation is in tatters!
Coinbase for example were accused of market manipulation and insider trading when they launched BCH on their platform in December 2017. This was after they told there customers they wouldn't be launching BCH until 2018. Why would they do this? I wonder? especially when they were completely underprepared to do so. BCH crashed the coinbase GDAX exchange minutes after launch.
Why doesn't Bitcoin fight back? you ask. It doesn't need to. Bitcoin is Decentralised. This means there is no-one needed to represent it. Bitcoin doesn't have a CEO, it doesn't have a marketing department, It has no paid trolls, just a loyal (very loyal) population of followers. And besides Bitcoin doesn't care. It has been under attack since it was born in 2009. It has survived this long without anybody protecting it as such and long may this continue.
If you want a centralized system then I recommend you carry on and use your government's currency such as the US Dollar or the British Pound. Lets face it the purchasing power of those currencies diminish by the year due to inflation so it makes sense to spend it. The longer you hold on to it the more worthless it becomes. These systems have been long established and used all over the world. Use Visa, Amex or Mastercard. Go for it. Just don't make the mistake of selling your Digital Gold (BTC) for Digital Lead (BCH.)
I believe my money should be censorship resistant,
I believe my money should be fungible,
I believe my money should be able to store wealth,
I believe my money should be a means of exchange,
I believe my money should irrefutable and cannot be double spent.
I believe my money should be available all over the world.
I believe my money shouldn't have a CEO or a marketing department or controlled by a small group.
I believe the real Bitcoin was the coin that was released into the world in 2009.
I believe Bitcoin is the real Bitcoin.
So the next time you see someone promoting Bitcoin CASH don't attempt to get into a debate with them because thats what they are looking for. Treat them like flat earthers, show them kindness and give them empathy. If that fails just sh*tpost them.
