Bitcoin Cash launched at Bitcoin block #478559, just over two years ago today. The Bitcoin block height as I write this is #588122. The Bitcoin Cash blockchain just added #593909. Two Years in Survival Mode In the intervening 100,000+ blocks, the chain has successfully proven…
Bitcoin Cash launched at Bitcoin block #478559, just over two years ago today. The Bitcoin block height as I write this is #588122.
The Bitcoin Cash blockchain just added #593909.
In the intervening 100,000+ blocks, the chain has successfully proven that it can survive a hostile marketplace, multiple technical attacks, and even the wrath of billionaire Calvin Ayre and self-proclaimed Satoshi Nakamoto Craig Wright.
Two years ago today, the crypto landscape was a different world altogether.
Roger Ver and Craig Wright were the best of friends, and there was serious talk of a Bitcoin corporate takeover.
Ethereum’s ICO era was in full swing, with dozens of ill-fated projects launching every week, relying on the generous crypto investment community for runway funding.
Several projects launched that year which still exist today. Among them are Tron and Cardano, two of the other top 15 cryptocurrencies by market capitalization.
Just over a year later, in November 2018, the Bitcoin Cash blockchain would split yet again, resulting in a third version called Bitcoin SV (“Satoshi’s Vision”).
The jury is still out on whether that split was necessary. Prominent BCH community members like Honest.cash CEO Adrian Barwicki have said that the divorce had little to do with technical reasons and everything to do with personal differences.
Bitcoin Cash currently supports tokens via a different protocol than Bitcoin’s Lightning and Blockstream’s Liquid Network. That protocol is called Simple Ledger.
The primary point of contention between Bitcoin Cash proponents and Bitcoin Core supporters was how to scale a cryptocurrency, not whether it was necessary.
Bitcoin Cash enjoys a very positive community via Reddit’s r/BTC as well as elsewhere. The center of the BCH universe might be pinned as Bitcoin.com, owned by crypto’s first angel investor, Roger Ver.
Since this an op-ed, I’ll say it: Bitcoin Cash feels more like home. Given the option, these days, I often choose it. I’ll still not tie my flag to any of the childish personalities that populate the crytosphere. Rest assured.
From a technical standpoint, Bitcoin Cash may or may not be behind Bitcoin Core.
As I’ve said before, it doesn’t make a difference to me anymore. The hard fork was the best thing that could have happened. Now we can see two competing implementations.
I believe it would be a mistake to assert that Bitcoin is winning purely on merit. There are serious and fundamental market reasons for BTC’s ongoing dominance.
However, to think this will forever be the case, and to bet on as much, is to bet against disruption itself. While I can see why one might be tempted, I personally will never take such a risk.
You don’t keep all your eggs in one basket, and imagine if MySpace maximalists were still telling you Facebook would never catch on in, say, 2012.
All of this notwithstanding, I don’t care what you call Bitcoin Cash. It’s simply not important. Unless you are in the business of marketing, it’s none of your concern, really. It works as intended and doesn’t cost a lot to get started.
Like I said, it feels more like home.
I doubt we will see “mass adoption” until more people can have the onboarding experience that once-marginalized people like myself had. Show the workers what they can do with it, not what it can “do for them.”
In the words of John Barrett:
“Them good old boys
Down in Illinois
And on down thru Tennessee
See, they don’t care to be a millionaire
They’re just wanting to be free”
And that is all.
Happy birthday, Bitcoin Cash.
I still love you, Bitcoin.
Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN.
Last modified: January 10, 2020 3:24 PM UTC