Inside the world’s first hash war
I’d like to start off with my personal view of what Bitcoin is. Bitcoin is sound money for the entire world to use. I believe that the current economic model as designed by Satoshi Nakamoto works, today. The software client will of course require regular development in order to scale to global capacity, but the foundation of its economic design is rock solid. With the removal of the blocksize cap, it has worked flawlessly up until now, and we can steer the ship to success.
The various voices that criticise my stance on “locking down” the protocol are truly unfounded. If I wanted to lock down client and avoid further changes, why would Coingeek be funding things like the Terab project? It’s because Coingeek is committed to looking ahead, and to scaling Bitcoin for the entire world.
This isn’t about control. This is about Coingeek and friends casting their economic vote, in order to protect a vision of Bitcoin that we believe in. That vision, is scalable, workable money for the entire world. The people at Coingeek and myself have worked very hard on this vision. We have poured countless resources and money into sponsorship programs to spread the message of BCH. We have funded, and put money into a variety of projects such as Terab, and Cash Shuffe. We have been donating to charities in an effort of goodwill and BCH promotion. Further, recently, we even announced the winner of a £5 million tokenization project, with a further £1m yet to be awarded to another project in the same area.
All of these ventures and movements by Coingeek have been done in the name of, and for the success of BCH. The tremendous mining power we have been employing lately is a sign of our dedication to building and protecting BCH. The hashrate not only protects the network, but provides Coingeek with an economic voice to vote for or against proposals. It is in this case that we disagree with the fundamental direction of ABC. We do not agree that there needs to be a rushed transactional ordering change in blocks, and we do not agree on the introduction of other opcodes providing that Bitcoin script can attain the same function.
We have stated previously, that we are not in the business of rejecting any change. But we do view Bitcoin as a global solution to money that needs to be viewed and worked with in a more rigorous, and meticulous manner. Major changes that are not urgent, can afford the time for research and sound testing time.
It’s important to note, that above all, Bitcoin SV, does not introduce anything new that Satoshi Nakamoto did not include in his roadmap for Bitcoin. We would like to see the original implementation restored in it’s entirety, first and foremost. It is a key differentiator of roadmaps between ABC, and Bitcoin SV.
I have been invested in Bitcoin for quite a while, and more recently, I have invested heavily in infrastructure to support BCH from the ground up. The countless hours of effort and millions of dollars spent have been with one goal in mind. To make Bitcoin BCH the leading cryptocurrency in the world, and to have it working as global money for the entire world.
We have already had glimpses of BCH’s prowess. Numerous projects are rolling in demonstrating its capability in smart contracts, tokenization, social media, private messaging, and much more. It’s clear that Bitcoin BCH outperforms Ethereum and any other crypto for scalability and workability. BCH is valuable… much more valuable that its current market valuation may suggest. It has an incredible future that needs to be protected.
Bitcoin is not a developer’s playground. In any business, or system, it is the economic incentives that drive progress. Too many times, in crypto communities, it has been the tail wagging the dog. And it’s time we professionalize and make a stand on the direction that we believe in, to ensure the longevity of the currency that we as a community have invested in… Not just in the next few years, but for decades forward. We plan to do all that we can within our means, to make Bitcoin BCH global scale. This is why I support Satoshi Vision, and I invite you join in allegiance for a better money for the world.
If you want to hash out the world’s first hash war with the thought leaders and other members of the Bitcoin BCH community, join the upcoming CoinGeek Week Conference this November. The four-day conference, taking place in London on November 27-30, will kick off with Miners Day—an invitation-only event where miners can discuss latest BCH advancements. Secure your seats to CoinGeek Week today via Eventbrite.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.