What makes bitcoin Bitcoin?

in #bitcoin7 years ago

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I had a back and forth conversation on tweeter with another supporter of Bitcoin which I think doesn't like the fact that there is Bitcoin Cash and maybe future hard forks will create other coins. He was saying should we call it Bitcoin Core since the team behind writing all the code is called the Core team. I could not explain why that doesn't make any sense with the 140 character tweeter allows me for a post so I decided to write this short blog post.

If you copy the Bitcoin Core code which is open source and create another chain (hard fork) are you creating another Bitcoin? Not even close! In my opinion what makes bitcoin Bitcoin is the following:

  1. The code behind the protocol
  2. The blockchain itself
  3. The miners mining it with all the hash power
  4. The users participating in the network by transacting on the blockchain
  5. The wallets and other countless software that was written on top of the network

So if you hard fork and can not take/move all of the other four components with you you don't have Bitcoin. You have another copy cat coin that will never be Bitcoin. Moving all 5 to a new network doesn't make any sense. So the bitcoin Core team is just a small part of what makes Bitcoin in my opinion.

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