Is Bitcoin Cash The New Real Bitcoin, And Does It Matter?

There are probably hundreds of posts around trying to answer this 1 real Bitcoin value question.

I will not go into a technical debate. We all know that Bitcoin has severe issues with processing transactions, and that Bitcoin Cash is much faster and cheaper.

But so is Litecoin, Monero, Dash…Just about any cryptocurrency is faster and cheaper than Bitcoin.

Truth be told, I have almost the same amound of BTC and BCC: Just to minimise risk.

As we know, some big players are obviously trying to move most of the value from Bitcoin into Bitcoin Cash. By facilitating this transfer of wealth, they also try a little mind trick with creating doubt whether Bitcoin is the real Bitcoin or not. Bitcoin Cash is the next evolution of Bitcoin etc.

I agree that was is the perceived real Bitcoin to a certain degree can be a consensus thing, but if so the market will decide that perfectly fine over some time, and not with some abrupt rebranding attempt and pumps from a few big players with selfish motives.

So, this move with Bitcoin Cash is probably mostly driven by an attempt to create confusion and hopefully capitalise on it as well.

As you can see Bitcoin Cash has been hovering around $300, and only pumped up transiently by whales:

The name Bitcoin Cash is not very good either. It is tedious to pronounce and also a pleonasm. Dollar Cash, anyone? Thus, I really see their need to try to rebrand Bitcoin Cash into Bitcoin.

However, logically the original Bitcoin will for me always be Bitcoin, thus I would use the name BCash from now on to not create any more confusion.

Thus, this stunt with BCash is in my opinion a very speculative move and also bad persuasion at its worst, which actually can end up destroying both Bitcoin and BCash.
In my opinion, this move with BCash is from a position of weakness.

Do they really think professional investors (Wall Street style) are going to have confidence investing in cryptocurrencies when they witness something like this?

The biggest player is Roger Ver, which I have never met in real life, and is perhaps a cool guy, but at least from the way he chooses to represent himself, he does not look like a very wise person, at least not persuasion-wise.

Tweets like this for example, reveals a severe lack of maturity, as it is just some kind of ego-thing for him:

Roger Ver is according to my understanding one of the richest in the cryptocurrency space.
If you compare him to similarly rich people in traditional finance, like Warren Buffet and Bill Gates, you can really see the huge contrast in talents and wisdom.

Thus, I would also be very reluctant to invest (long term) in something where Roger Ver has an agenda.

Also, is Roger Ver’s actions so much better than the corrupt bankers we like to ridicule?

Even though I have invested in +20 digital assets, I try remain as sceptical as possible.
To be sceptical is always an asset, truth will always prevail.

If you are going to create a new monetary system based on sound capitalism, the worst thing you can possible do is to create a system where the initial value is ridiculously low and distributed on just a few (lucky?) players.
It is probably an almost unsolvable problem now that because of huge information bias in the start of Bitcoin’s life cycle, some people got ridiculously rich, even perhaps on the wrong premises. You just needed one strategy: Buy bitcoin and HODLHodlhodl…

Most monetary systems have been constructed based on consensus. The euro for example was created. It was not like some people were able to scoop up loads of euro for almost free.

One argument against the current fiat system, is that printing money is cheap and thus the money has no intrinsic value. However, money does not need more than zero intrinsic value. Money is just a medium of exchanging values, a system for bookkeeping of the value created, and a tool to create real value. Money is not supposed to be held. It is supposed to be spent.

A monetary system where money become a speculation object in itself, is not a good monetary system, and will divert resources away from creating true value into pure speculation. Thus, it is not sustainable.

My own personal stance is philosophical: I just want the best monetary system there is, and I do not care 1 satoshi if it is Bitcoin, BCash or any other cryptocurrencies. If none of them make it, then I guess the fiat system is not that bad after all. I would still be able to buy silver coins, consumer credit banks with ROE>30% and all the rest out there that fiat can buy. Not that bad if you think about it.

Thank you for your time and attention. Steem on!

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