Bitcoin Cash
Simplicity in Action: The Bitcoin Cash Advantage
Low Fees and Instant Transactions in Action
Throughout history and as technology evolves, we watch numerous professionals and employees striving to justify why their occupation is still meaningful and how it adds value to society, while the advance of technology is basically rendering these professions obsolete.
We watch it lately even more, and we also watch the reaction against rising technologies like AI and robotics.
Yet, progress is unstoppable. It is inevitable.
The world does not revolve around any single person or a team of individuals. It is not about them losing their jobs either.
Progress works for everyone for the better of humanity.
Those who do not understand it, won’t be humble enough to adapt.
They will always lag behind progress instead of predicting it and adjusting soon enough.
Either we envision the future and make adjustments, or we become stagnant and find excuses while failing to comprehend the changes around us.
I recommend reading: The Langoliers, a novella by Steven King (also a TV mini-series). It contains an allegory critical to help you acknowledge your position in this world as time and progress unfold.
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You Are Not In A Vacuum
We don’t all see things the same way.
But things are often simpler than we think, and there is no need to complicate them further.
Overthinking is bad.
Maybe you got your money in BTC, but the fact is you won’t be using them unless trading off self-custody and parking your funds under the control of a centralized exchange.
The problem, though, is that to use your BTC on-chain, it might be more practical wrapping in tokenized form and move it through another blockchain.
You can’t move your BTC fast or with low fees.
BTC has become a token even today with WBTC on Ethereum, although this is an equally expensive network to use.
You can’t ask for wrapped BTC to help you move your BTC in centralized chains, or in chains like Ethereum that are even less efficient than BTC.
And since Lightning will never work properly for BTC, it will have to be other blockchains.
Two solutions exist for that. Either use the native token of other blockchains that work perfectly for this reason (XRP, BCH, XMR) or tokenize your assets and move them to a blockchain that offers this practice.
BTC doesn’t work as P2P Cash which was the initial intention.
Several alternatives out there have stood the test of time.
You can’t have your cake and eat it too, at least not with BTC.
Either you accept this is just a speculative asset you can’t use for anything else but price speculation, or you move on to something better.
Maybe someone skipped the whole blocksize debate in 2015 or perhaps didn’t focus on it too much, but there is always time to revisit history and find out what happened.
Best chance: You can only have the BTC sitting on the blockchain and waiting for congestion to end to make a few payments here and there.
Or, as some suggest, they don’t mind paying the $50 or $70 fees.
Still, when something may be working for you, it doesn’t mean it works for everyone else.
The world is not static, or as Marc Cuban suggested to BTC maximalists a couple of years ago: “ You are not in a Vacuum”.
Bitcoin’s rhetoric falls into the composition fallacy.
Having a certain approach does not mean the whole world thinks the same.
Furthermore, the economy is a constant process of changing trends, habits, and conditions.
In Conclusion
Bitcoin Cash exists because BTC changed the narrative.
Bitcoin was about P2P Electronic Cash providing financial freedom to the entire world. This was Satoshi’s intention with SPV wallets and leaving the mining to the big farms and the nodes to the tech-savvy, and this is what Bitcoin Cash is today.
Since we often read from the user base of BTC how they’d love low fees and fast transactions, solutions do exist.
A Bitcoin BTC whale can easily tokenize thousands of BTC and move them to Bitcoin Cash, as with the 2023 CashTokens upgrade, this is now possible.
It shouldn’t surprise anyone if BTC appears as a wrapped token in Cashtokens, Bitcoin Cash.
Actually, this way the BTC holders will enjoy instant transactions with low fees (lower than a penny) and can participate in the rising decentralized finance community of Bitcoin Cash.
This was an old story published in 2021 and rewritten for Medium.
Originally published at https://read.cash.
If you have 15 minutes to spare, watch my latest video on YouTube explaining my thesis on Bitcoin’s price for 2024 and why I believe the odds of BTC succeeding in the long run are practically zero:
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