That branch of Bitcoin that we call "Bitcoin Cash"

Source: ElBitcoin Original Title: That branch of Bitcoin we call “Bitcoin Cash” Original Link:

I am convinced that Bitcoin Cash (BCH) is the best version of Bitcoin. I arrived at this conclusion not through a religious experience or anything like that. After years of reflection, I remain convinced that BCH not only aligns with Satoshi’s original idea of what Bitcoin was and how it should scale, but also that Satoshi’s own position is consistent with reality (meaning, he was right).

For Satoshi Nakamoto, the technological solution described in the Bitcoin whitepaper addressed the need for a decentralized and censorship-resistant means of payment, and as he presented it, a network that does not depend on the goodwill of its participants, but on economic incentives that enable honest participants to face potential attackers (who we must always assume are).

In essence, that’s Bitcoin. And the security of that Bitcoin, which was in Satoshi Nakamoto’s mind, does not rely on a user running five non-mining nodes but on its proof of work system (POW); that is, it is a Bitcoin whose decentralization is manifested in the underlying infrastructure formed by miners.

Miners, as part of this system, are reliable market agents, not because Satoshi assumed that humans are inherently good, but because he knew that economic principles override good intentions because they are a reflection (that we have come to know) of reality. It is clear, then, that I am not referring to the asset that everyone knows as Bitcoin: I am not referring to Bitcoin-BTC.

The branch of Bitcoin I defend

When I talk about Bitcoin in the terms I used in the previous paragraphs, I am referring to the IDEA proposed under that name. An idea with a historical context and that still has supporters. That idea remains alive in Bitcoin Cash (BCH). Whether Bitcoin maximalists like it or not, BCH is another branch of that project. It is a continuation of that approach, and of the way early Bitcoiners thought.

A branch that in 2017 became an independent P2P network from Bitcoin-BTC (meaning, a different cryptocurrency in terms of its name) even knowing that this decision would require rebuilding much of the infrastructure and regaining the adoption that had been achieved up to that point. But also a branch that values these classical ideas so highly as to put them into practice.

That is Bitcoin Cash (BCH), and I am convinced of these ideas. The vision of the Bitcoin Cash branch of the Bitcoin project is worthwhile to me because I know that its proposal of BCH as decentralized money that can be used worldwide as a digital means of payment is what humanity will need in the medium and long term.