This post is assuming that you understand the basics of the Bitcoin Cash split and that you know what a fork is in crypto.If not, there are plenty of articles to teach you that.
What I’ll focus on is what this fork shows about the future of the crypto market.The contentious discussions happening in Bitcoin Cash may destroy crypto’s ability to move forward humanity’s financial infrastructure.Roger Ver
I’ve always been a fan of Roger Ver and his take no prisoners attitude against traditional finance and the oppressive governments that back it.He’s paid a personal price to maintain these views.However, I do not believe they are still properly centered.
Recently, Roger said publicly that he believed forks in Bitcoin Cash might slow Paypal adoption, if Paypal had a real knowledge of what a hard fork was.I’m not arguing the point.
My question is why Roger Ver cares so much about Paypal adoption?
Paypal is objectively the worst company to advertise as a legitimate fiat-crypto bridge and crypto custodian.Paypal’s infrastructure is set up to leech off of unsuspecting noobs who
1.don’t know they can onboard into crypto MUCH more cheaply, and2.
don’t know the importance of private keys.
Unlike many other shills, Ver is hardly marketing Paypal to pump his own bags .He’s one of the wealthiest people in crypto.
Then why is he not taking a more active stance to educate people away from using Paypal as bridge and custodian? I can’t think of a worse situation for crypto than if Paypal ends up holding custody over a large subset of ANY project.As I’ve written before, this will spell the end of any humanitarian advancements crypto can provide for us.Marketing Bitcoin Cash Too Fast
Roger Ver is guilty of marketing BCH too fast, just as the rest of crypto is guilty of marketing bitcoin and all other crypto too fast.
Adoption from uneducated noobs spells the death of crypto.
Here’s why .
It’s silly to allow Paypal and other companies like it to custody our market share before the technology is even optimized .More importantly, it’s very dangerous to market to traditional finance before the COMMUNITY is optimized.
And as the Bitcoin Cash split shows, there is nothing but disagreement about how to move forward between ourselves, much less when a powerful and objectively destructive outside force comes in with takeover potential.Paying Taxes
No one wants to pay taxes, apparently.
Of course oppressive governments charge its citizens too much and uses those funds for stupid things.
But we all pay taxes because we don’t want to go to jail.What no one realizes is that we allow governments to tax us oppressively.In the same way that the Bitcoin Cash community split because they didn’t want to pay the developer tax, we could all politely inform our governments that we aren’t paying unfair taxes to them, either.
We don’t, though, because we don’t believe we have the same power of governance in traditional government.
Why people think this, I don’t know.In the US, we look at politicians as celebrities rather than public servants.I’m sure other countries experience similar phenomena.
My point is that it’s stupid to fork a protocol because you don’t want to pay taxes to people who are bringing value, then you stand silent as you’re taxed by fatcats who are using your money for complete horseshit.This speaks to a real weakness in humanity that is showcasing itself in crypto.
Everyone likes to have their way when they believe they are the bully in the room.No one actually wants to take on the bully, which is the fact that you’re all locked in this room.
Bitcoin > Bitcoin Cash
This is why Bitcoin will always outpace Bitcoin Cash .The reason for low adoption isn’t because you took the same name, Roger.
It’s because bitcoin continues to represent the simplest and purest form of what crypto really is — an untouchable store of value that maintains its utility regardless of the holder’s philosophy.Bitcoin Cash is trying too hard to implement a philosophy on the coin instead of protecting it, and this will lead to its downfall.The downfall of both chains, by the way.
Because as you all are deciding to accept dev taxes or not accept them, the government itching to tax ALL of you will figure out a way to do so.And none of you will do shit to stop that.
I much prefer the slow, untouched nature of bitcoin that keeps stores of value far out of the reach of any taxman.
Bitcoin Cash FUD
FUD, FUD, FUD .Somebody’s got to do it.When even the most rebellious of our leaders still doesn’t understand that we have bigger enemies to fight than our own devs, we have a problem.I guess I have to be the one to call this stuff out, because I don’t see anyone else doing it.
Even allowing Paypal to custody Bitcoin Cash probably spells the death of the protocol, because Paypal is within the purview of US government regulation, and the Bitcoin Cash community has now shown it doesn’t have the ability to agree on who should receive the benefits of the coin.
That’s great, the government says.If you can’t decide, we’ll just take it all by regulating the hell out of Paypal, who will soon hold the majority of Bitcoin Cash.
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