Bitcoin Cash: Why not?



After reading the newsletter from Bitpetite, I decided to rewrite their article from the first person, since I fully share their opinion and the essence of what was written.

Why do I really love Bitcoin? Why do you love him?

For fast cross-border payments? Yes, in comparison with banks this is a huge step forward and no, PayPal will do it faster.

For low commission in the translation? Yes, for the transfer of $ 10 million you need to pay some 50 cents and no, for the transfer of 1 dollar you will have to pay all the same 50 cents! 1

Maybe I love Bitcoin for the opportunity to pay for a cup of coffee in a restaurant? No, you yourself know that this is not possible yet.

I love Bitcoin for the fact that it belongs only to me. Money in my Bitcoin wallet can not be taken away or confiscated, you can not block my Bitcoin account. You can not limit me in the amount or amount of payments. Nobody will tell me who I can pay, what goods to buy and which god to pray for as long as I have Bitcoin. Bitcoin is a real digital cash, devoid of prison supervision by third parties. Neither VISA nor Master Card nor PayPal together can provide us with this freedom.

Who gives us this freedom? Take a look at this graph:

Bitcoin Cash: Why not?

10,000 devices scattered around the world store a distributed Bitcoin transaction register, 10,000 devices in different countries and on different continents laugh at any attempt at government control. 10 thousand devices make Bitcoin the way we know it: decentralized and therefore not subject to censorship. Bitcoin is very similar to the Internet: it is very difficult to control it and it is almost impossible to prohibit it.

10 thousand devices launched by enthusiasts all over the world make Bitcoin free. The more their number is the safer our freedom. The content of such a device can not be called completely free, in addition to electricity, each Bitcoin node requires about 144 megabytes of disk space per day, which turns into 4 GB per month and 51 GB per year. Already, the Bitcoin transaction register takes 127 GB of disk space on every device of every network enthusiast

Bitcoin Cash: Why not? 2

BITCOIN CASH increases the need for disk space by 8 times. Compare 51 GB and 400 GB per year. How many Bitcoin nodes will remain with such a need for disk storage in a year or two? Sooner or later BITCOIN CASH will double the size of the block. the program developers deny other ways of scaling Bitcoin apart from the extensive increase in the block size.

Reducing the number of nodes will result in the entire network of BITCOIN CASH being inevitably centralized around large players, who will be able to contain huge amounts of data. This means no more enthusiasts launching the Bitcoin knot in the basement of my mother, only a dozen of corporations managing in the past free «digital cash.» This is fraught with state control: it is not difficult to manage several large players, regulate their work and tell them what to do.

BITCOIN CASH offers at first glance a simple and obvious solution to the complex problem, the solution is pernicious for crypto currency in effect. For the momentary convenience we will have to pay with our freedom.

Personally, I’m not ready to sacrifice my freedom and say NO BITCOIN CASH!


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