What is Bitcoin? Bitcoin is a purely peer-to-peer version of electronic cash which allows online payments to be sent directly from one party to another without going through a financial institution. The Bitcoin Whitepaper was written by the creator of Bitcoin & father of all cryptocurrencies – Satoshi Nakamoto. All Bitcoin holders at block 478558 are also owners of Bitcoin Cash, BCH. All are welcome to join the Bitcoin Cash community as we move forward in creating a usable electronic cash system for the entire world.
Keep Bitcoin free from hostile source code takeover. “A small group of programmers calling themselves ‘Bitcoin Core’ wrested control of the legacy development branch of Bitcoin and began to insist, counter-intuitively, that Bitcoin was incapable of scaling to more than 250,000 transactions per day, or about 4.5 cents worth of bandwidth at 2008 prices. As the network finally hit this imposed capacity limit in 2016, Bitcoin began to lose many of the features that made it so attractive in the first place. Transaction fees skyrocketed, from fractions of a penny to a peak of nearly $9 in August, 2017. Transaction confirmation times became increasingly unreliable, and users could find themselves waiting hours or days for their payments to clear.” Bitcoin Cash is Bitcoin.
Keep Bitcoin free from unnecessary fees – current fee comparison of BTC vs BCH.
Through censorship and persuasion, the Bitcoin Core team (BTC) have kept block sizes small & created an economy of fees for miners. This causes costly fees & long wait times for all users of BTC. It also forces users off-chain to third party applications in order to make payments with reasonable fees. Bitcoin Cash (BCH) has solved this by increasing the block size, adding 0-conf transactions & only require very low fees. With multiple development teams and growing adoption among merchants and users of Bitcoin Cash, it is the true peer to peer version of electronic cash that Satoshi envisioned.
Keep Bitcoin Free from centralization. By implementing off-chain solutions, the Bitcoin Core camp have created a centralized hub infrastructure. In order to use the Lightning Network, you must first set up one or more channels to route your payment to the recipient. You must lock up Bitcoin within the channel (as much as you intend to spend) and when the amount is diminished then the channel is settled and closed. On chain fees must still be payed when opening or closing a channel. For this infrastructure to work as intended, there must be large hubs that route LN payments for users and provide liquidity. The large amount of funds needed to back these hubs are likely provided by financial institutions and other large holders. By increasing the block-size, in turn lowering fees and transaction times, Bitcoin Cash has solved these problems plaguing the outdated technology behind Bitcoin Core.
The Revolution Will Not Be Centralized. Spread Bitcoin Cash to the Masses.