Thread by @celcatoriginal

Bitcoin Cash Thread -

Bitcoin expands and contracts in many different ways. In other words, it's all a balancing act...

#1

In 2017 the balance was broken. BTC would restrict the naturally required expansion of blocksize as the network grew.

#2

With so many new network users, miners could absolutely afford to drop TX fees by increasing blocksize. This would be the nature of honest capitalism...

#3

However Miners chose not to allow for the expansion of the network, & instead implemented 4700 lines of code which would forever destroy the signature data on the BTC Blockchain as a bandaid solution to a long term expansion issue which had still not been addressed...

#4

"One of the fundamental building blocks for such a system is digital signatures."

This quote from Satoshi reminds us why verifiable truth for both parties to determine truth in digital ownership was integral to the design. BTC no longer retains such verifiable truth...

#5

Opting to cripple the networks ability to retain crucial data was one thing but limiting the expansion, limiting the network effect by not allowing vastly more people to use the chain at low cost when it was affordable to do so would massively slow down BTC adoption...

#6

Miners chose to impose higher fees for a smaller subset of users. As a result, each user in the BTC 7tps chain is paying considerably more than what would be considered "fair" for the amount of network usage...

#7

#BitcoinCash retains not only the signature data, but has also taken the road less traveled, one that instead puts all the users of the network first. BCH in comparison to BTC is over 3000× cheaper and over 20× faster to transact on any given day and is only getting started.

#8

Prioritizing short-term profit & restricting growth over being even more profitable & successful long-term by simply allowing the network to expand means that in less than 5 short years BTC will have to confront this same issue once again.

#9

#BitcoinCash has no such problem to confront as it instead chose to retain the original balance of Bitcoin.

While profitable to mine, users never have to compromise on speed or network integrity.

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End.

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*not financial advice

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