Bitcoin Cash
Bitcoin Cash: The Last Beacon Of Hope
Bitcoin Cash A Peer-to-Peer Electronic Cash System
In a world where financial freedom hangs in the balance, one digital currency has emerged as a beacon of hope: Bitcoin Cash.
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Transcript
Introduction (00:00–01:12)
In a world where financial freedom hangs in the balance, one digital currency has emerged as a beacon of hope: Bitcoin Cash.
But before we delve into the present, let’s rewind the clock to a pivotal moment in cryptocurrency’s history — 2017.
It was a time of uncertainty and upheaval. Bitcoin, once hailed as the future of peer-to-peer electronic cash, found itself facing insurmountable challenges.
Amidst the chaos, a new contender emerged — one that promised low fees, fast transactions, and a renewed commitment to Satoshi Nakamoto’s original vision.
Fast forward to today, and Bitcoin Cash continues to pave the way for a decentralized future, where financial empowerment knows no bounds.
Join us as we embark on a journey through the world of Bitcoin Cash — a journey fueled by innovation, ethos, and the unwavering belief that financial freedom is a right, not a privilege.
Welcome to the revolution. Welcome to Bitcoin Cash.
Chapter I: 2009–2015 A New Monetary Force (01:13–04:16)
With no on/off switch, no central authority, and no means to freeze or reverse transactions, Bitcoin embodied a borderless, permissionless, decentralized monetary system.
The rise of black markets, notably Silk Road and those that followed, showcased Bitcoin’s newfound utility.
Unlike previous attempts at digital cash plagued by single points of failure, Bitcoin offered a robust solution devoid of reliance on centralized entities.
Adoption was increasing exponentially beyond the tiny aspect of the black markets of the darknet and already gaining a small but rapidly expanding share of global commerce, marking a significant new competitor to the established payment systems such as Visa and Mastercard.
Bitcoin’s impact was profound, catching the attention of clandestine agencies and legacy financial institutions alike who instantly identified it as an enemy.
Mainstream media amplified negative news, depicting Bitcoin as a scam or a scheme favored by criminals for illicit activities. Yet, amidst the onslaught of disinformation, Bitcoin continued to flourish, defying attempts to stifle its revolutionary potential.
Recognizing Bitcoin’s resilience to news propaganda, finance sought a different approach: infiltration. Bankers, Wall Street tycoons, and Silicon Valley elites entered Bitcoin en masse and became powerful stakeholders, with a strategy different from the intention the whitepaper describes and the early community adhered to.
Bitcoin was presenting a viable alternative to traditional banking systems, rapidly gaining momentum and exponential adoption, and considered both a store of value and a method of exchange.
But in 2015, decision time arrived as the 1-megabyte block size limit was finally reaching its peak with blocks filling up and transaction fees increasing.
The cracks in the community were apparent, however, the majority of participants were disconnected from the issue or the suggestions of those seeking to increase the block size limit since censorship was pivotal in reducing and distorting the message of the side demanding Bitcoin to scale.
Therefore, in the scaling wars that followed, stagnation was victorious.
While some participants harbored altruistic intentions, recognizing Bitcoin’s potential to empower individuals and societies, others pursued self-serving agendas, ignoring the importance of commerce and how Bitcoin was positively disrupting the money system.
In the end, Bitcoin gravitated towards a speculative direction where the price was the ultimate factor behind any decision, and to achieve this Bitcoin had to become a new asset class integrated into traditional finance.
Chapter II: 2015–2017 — The Transformation Of The Narrative
(04:17–07:05)
Following the hijacking of Bitcoin’s development by Blockstream, the media had a change of mind, knowing that Bitcoin was captured and adjusted to align with the intentions of the financial establishment.
It was an organized and massive transformation of Bitcoin’s narrative.
Mainstream news downplayed the revolutionary transactional side of Bitcoin which was also the only reason Satoshi created it, and proceeded with an obscure new theory that favored price speculation, turning Bitcoin into an online casino with fees prohibiting any use in commerce.
Meanwhile, trusted third parties, the system of payment processors, and the legacy financial establishment that hindered economic progress for decades remained intact instead of being rendered obsolete by Bitcoin.
BTC today is presenting payment methods via federated sidechains like Liquid or custodial Lightning, however, these options offer no actual or viable alternative to fiat currency.
We often find people wondering why we ever needed permissionless money and why we should use anything else than fiat for payments, or why should we upset the banks, support KYC, and so on.
Why permissionless money is needed is something you should have asked back in 2008, not fifteen years later, and we put an end to this parenthesis here.
What we need is freedom money, even as a backup in case anything goes wrong again, an escape when the 2008 financial crisis gets repeated.
Yet, Bitcoin BTC is not the alternative anymore.
In times of economic upheaval, you won’t be able to use BTC for your day-to-day needs, since BTC will clearly not help anyone survive the day with fees reaching $70 at times of congestion.
Freedom money has to be accessible to all and not just the wealthy and this is why Bitcoin Cash is a necessity.
Billions of people around the world will never afford the BTC high fees.
The part of the whitepaper’s title after Bitcoin is what BTC maximalists tend to ignore.
Peer-to-Peer ELECTRONIC CASH.
Chapter III 2017: The Rise of Bitcoin Cash (07:06–11:42)
Amid these unfortunate conditions, Bitcoin Cash emerged with the 2017 hard fork, splitting the chain and re-igniting hope.
Bitcoin Cash community was an integral part of Bitcoin until August 2017, when Bitcoin forked into two versions: BTC and BCH, therefore, Bitcoin Cash shares the same history with BTC until that moment in time.
There is no distinction before the events of 2017, although the fate of the currently mainstream version, BTC, was already sealed way before the hard fork and the subsequent community split.
Bitcoin Cash preserves the pure version of Bitcoin, the Bitcoin that follows the righteous path of the whitepaper, Satoshi’s ideals, and the intention of the early community.
Bitcoin Cash presents a Peer-to-Peer payment method for all.
It exists not just to empower the wealthy but to financially empower everyone.
Bitcoin Cash is revolutionizing payments with its unique features and advantages.
This is how Bitcoin Cash is changing the game:
We can scan a QR code and transfer any amount with no trusted third party interfering with the process.
A penny, a dollar, a hundred thousand dollars, or even millions of dollars worth of Bitcoin Cash can be transferred, anywhere in the world, within a fraction of a second, and at a cost of a fraction of a penny.
We can transfer money to absolutely anyone without the transaction going through a financial institution, for an insignificant fee, usually worth less than a single penny.
The receiver does not have to wait for the following workday for the money to appear.
And the best part, nobody can freeze our funds, reject or reverse our transactions.
Bitcoin Cash is the pure version of Bitcoin.
It has not altered the original purpose but followed the whitepaper on every step.
Those who failed to listen to Satoshi Nakamoto in 2008 and instead appeared way later to hijack the project and limit its potential, fiercely opposing Peer-to-Peer Electronic Cash, are the same that constantly attack Bitcoin Cash.
The value proposition was always Peer-to-Peer Electronic Cash, not digital gold, not ETFs, not any other fairytales spoken by BTC advocates who actually resemble Ponzi promoters with their attitude and philosophy.
Certainly, Bitcoin Cash has had downsides, bad moments, and limited exposure in the mainstream.
The propaganda it has to face is enormous, and at times, mainly because the crypto media belong to BTC maximalists and censor Bitcoin Cash while presenting only unfavorable events.
It was no different with Bitcoin until 2015, with the mainstream media.
Since 2017, the new target has been Bitcoin Cash, but we can definitely assume the target was always Peer-to-Peer Electronic Cash and the power it delivers to the individual.
The side of BTC maximalists is efficient with the anti-BCH messages assuming this task, to discredit permissionless electronic cash, even blatantly suggesting we should only use fiat.
The propaganda centers will self-destruct and lose their efficiency as a new commercial revolution will arise with new money far from the constraints of the past.
Bitcoin Cash consists of a non-conformist, anti-mainstream community defying the order market forces enforced in the cryptocurrency market.
BCH has been dubbed dead a thousand times, but like a true underdog, it keeps bouncing back stronger than ever, proving the skeptics wrong time and time again.
Developments align closely with the decentralized ideals outlined in the whitepaper, with carefully planned upgrades occurring each year through consensus agreement.
In 2023, the Cashtokens upgrade initiated a new path for Bitcoin Cash, by enabling on-chain smart contract functionality.
The 2024 ABLA upgrade is also significant as it introduces the Adaptive Blocksize Limit Adjustment, automates scalability, and allows the allocation of time and resources into more productive avenues.
Many hotspots exist where individuals can fully embrace living on Bitcoin Cash, with ongoing efforts aimed at the inclusion of more locations.
Chapter IV: Battle For The Future
11:42–14:56
Bitcoin Cash represents the egalitarian ethos of Bitcoin’s early days, where freedom and accessibility trump speculation.
Despite facing relentless attacks and smear campaigns, Bitcoin Cash remains steadfast in its commitment to providing universal, permissionless, decentralized digital money for everyone.
While Bitcoin Cash may not always attract mainstream attention, its resilience and adherence to Satoshi’s original principles continue to resonate with everyone seeking financial freedom.
As Bitcoin Cash marches onward, it stands as a beacon of hope for a future where money is truly accessible to everyone, free from manipulation and authoritarian restrictions.
In our journey towards financial liberation, Bitcoin Cash demonstrates the effectiveness of Satoshi’s creation as Peer-to-Peer Electronic Cash and the enduring spirit of financial decentralization.
With low fees and lightning-fast transactions, it is more than just a digital currency.
Bitcoin Cash is a beacon of hope for billions around the globe.
In a world where traditional financial systems burden us with exorbitant fees and lengthy processing times, Bitcoin Cash offers a fresh alternative.
A Peer-to-Peer Electronic Cash System empowering the individual with the ability to transact seamlessly, regardless of geographical boundaries, racial and social profile, and economic conditions.
Imagine a world where sending money is as simple as sending a text message, where merchants can accept payments without fear of having to deal with high transaction fees, or having their accounts frozen and funds confiscated.
A future where individuals have full control over their financial destiny.
This is the promise of Bitcoin Cash — a future where financial freedom is not just a lofty dream, but a tangible reality.
A decentralized ecosystem that enables a truly permissionless economy.
As Bitcoin Cash continues to evolve and grow, it serves as a reminder that change is possible when we dare to challenge a corrupt status quo.
Bitcoin Cash paves the way for a more inclusive and equitable financial system as low fees and instant transactions are not just buzzwords, but fundamental pillars of a fairer and more accessible world.
With Bitcoin Cash paving the way, the future is only brighter.
