The Bitcoin vs. Bitcoin Cash “War”
There is a wide spectrum of opinions about the on-going Bitcoin (BTC) vs. Bitcoin Cash (BCH) war. Some experts argue over which coin has the better long-term solution for scaling. Some also argue over which coin has become more centralized by the powerful mining companies who control large portions of the hash power. Yet, others find less technical issues to be more concerning, such as whether or not Bitcoin Cash is hijacking Bitcoin’s brand name or which coin Satoshi Nakamoto, the anonymous creator of Bitcoin would approve most of.
The Polarization of the Two Bitcoin Camps
Both camps have had their fair share of attacks since the Bitcoin hard fork this past August. Since then, this on-going and highly controversial battle has involving some of the top thought-leaders in the space chiming in with their opinions, and overall it’s caused a great deal of confusion for the cryptocurrency community.
The extent to which the debate has been polarized can be seen in sensational statements on the far ends of both sides of the Bitcoin/Bitcoin Cash spectrum, ranging from “Bcash is a scam” to “Bitcoin Cash is the Real Bitcoin”.
Disclaimer: Satirical Artwork
Before diving deeper into concept behind this design, I’d like to state that I am a neutral party in this “war”, and in fact do not have a problem with Bitcoin Cash. I personally would like to see both projects succeed and use both coins.
The featured artwork is purely satirical and done mostly to poke fun at Roger Ver and to reflect what I perceive to be the community’s reaction to his incessant shilling of Bitcoin Cash.
Roger Ver: from Bitcoin Jesus to Bitcoin Judas
Roger Ver has been a top advocate of Bitcoin for many years. This is why he was kknown as “Bitcoin Jesus”. He is a very vocal anarcho-capitalist and his both his early involvement investing in Bitcoin and renouncement of his US citizenship are demonstrative of his political idealogies, which are very in-line with those of the cryptocurrency movement.
However, Roger’s story has changed over the past couple years from evangelizing Bitcoin’s benefits and promoting adoption to being more of a detractor from Bitcoin with his constant involvement in project designed to displace Bitcoin.
Roger has said on record countless times that people have stopped using or investing in Bitcoin and switched to altcoins because of Bitcoin’s scaling issues and corresponding high transaction fees. The truth is that if people stopped using Bitcoin, there would be no scaling issue.
In Satoshi Nakamoto’s whitepaper, he said that Bitcoin is a peer-to-peer cash system. The truth is that, although Satoshi demonstrated genius foresight in the Bitcoin design and code, he wrote it before the current Bitcoin ecosystem was built.
One of Roger’s fundamental arguments detracting from Bitcoin Core is that Satoshi hinted at a blocksize increase in one of his last posts before disappearing. Satoshi hinted that larger blocks could be a good idea, after some optimization.
Bitcoin XT, Bitcoin Classic, Bitcoin Unlimited
Bitcoin XT was created by Mike Hearn and Gavin Andresen to aggressively increase the blocksize to 8MB. Roger Ver supported it but it never caught on. This is where he began complaining about the censorship on Reddit /r/bitcoin.
Bitcoin Classic was Roger’s second attempt. Instead of increasing the block size to 8MB they tried 2MB. In March 2016 they managed to get 7% of the Bitcoin network hashing power to support Bitcoin Classic. In a desperate attempt they tried to set up as many fake nodes on AWS as they could to try to look more popular.
Bitcoin Unlimited was the third attempt, this time they tried bribing. Bitcoin Unlimited received a “500,000 usd donation” and now additionally there is a 1 million dollar grant for alternative implementations. I think this kind of falls under the “bribing” part that I will discuss later.
The Final, and by far most successful project detracting from Bitcoin is Bitcoin Cash. Roger says that Bitcoin Cash isn’t exactly a ‘better Bitcoin’, but a return to the original functionality that Bitcoin intended. In an interview, Roger Ver said:
Bitcoin Cash is the real Bitcoin and will have the bigger market cap, trade volume and user base in the future.
Roger’s main argument is that the Bitcoin Core team intentionally increased transaction and confirmation costs, and lowered transaction rates. He believes that Bitcoin Cash is a better solution, and will become bigger than BTC in the future.
Bcash pump and dump scam or Legit?
Some members of the crypto community speculate that Bitcoin Cash’s price rise was a pump and dump scheme to trick traders. If you’ve been paying attention to the prices since the fork in August, it may very well seem as such.
Due to Bitcoin Cash’s shady price movements and mining centralization, many have chalked Bcash up to be just another anti-bitcoin scheme driven by Roger.
Bitcoin supporters changed Roger Ver’s nickname from ‘Bitcoin Jesus’ to Judas as a result, symbolizing his switch from supporting BTC to BCH. Some believe that Roger Ver is shilling for major BCH stakeholders. He does so every chance he gets.
So, What’s your take?
Do you favor BTC or BCH or a different crypto altogether? Drop a comment below.
Hold On for Dear Life