Topic: Be Informed: Bitcoin Community Must Unite To Ensure Bitcoin's Survival (Read 171 times)

The entire Bitcoin community should join together to oppose and dispose Bitcoin Cash for a simple reason; that Bitcoin Cash is Bitcoin's killer.

Eventhough Bitcoin ABC, a full node implementation of the Bitcoin protocol, claimed that they are mining and processing transactions not valid on the Bitcoin Codebase network, the Bitcoin Cash blocks and its blockchain in general is still clearly within the Bitcoin Codebase network created by Satoshi Nakamoto for and only for Bitcoin. Analyzing Satoshi Nakamoto's original whitepaper, he only mentioned a singular Bitcoin, didn't mention that Bitcoin is variable, and made the Bitcoin Codebase open-source in order for the Bitcoin community to revise rules, improve, and further develop Bitcoin through a consensus; not for the creation of separate cryptocurrencies within the Bitcoin Codebase network. The Bitcoin network should be and is hard fork proof. Further referring to Satoshi Nakamoto's whitepaper, he stated that "[Bitcoin Core] nodes can leave and rejoin the [Bitcoin Core] network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone [such as the case of other major full nodes like Bitcoin UASF, Bitcoin Unlimited, Bitcoin Classic, Bitcoin XT, BCore, etc). The main purpose why a full node leaves the Bitcoin Core network is for Bitcoin miners to test and run their Bitcoin Improvement proposals and protocols, and to gain majority support to implement such proposals to the whole Bitcoin Codebase network. In support to the other Bitcoin full nodes' BIPs, they still aim to uphold Bitcoin's legacy and survival by still maintaining mining and transaction rewards through their nodes as Bitcoin ensuring the continuity of the cryptocurrency. Such is not the case for Bitcoin ABC node. The major mistake that they've done in contrary to other full nodes' BIPs (with similar main purpose which is to increase the mineable hashrate) is that they created a blockchain of invalid blocks within the Bitcoin Codebase network, made it mineable, proclaimed mined blocks and transactions as valid in their own rules, and rebranded the rewards as Bitcoin Cash. This is a perspicuous rebellion against Satoshi Nakamoto's ideology of for whom and how is the Bitcoin Codebase should be used. It is a declaration of an oligopolistic competition with Bitcoin and highly destructive to the Bitcoin Codebase network.

Should Bitcoin Cash established a competitive foundation on the Bitcoin Codebase network through supports from more full nodes running within the network, it will be the catalyst for the death of Bitcoin.

So far, Bitcoin Unlimited, Bitcoin Classic, Bitcoin XT are the only Bitcoin nodes that released Bitcoin client software that supports Bitcoin Cash mining. Fortunately, their main client software still prioritizes the mining of Bitcoin.

If the Bitcoin community will make no actions to stop Bitcoin Cash from building a strong foundation in the Bitcoin Codebase network, Bitcoin Cash will slowly catch up with Bitcoin's market value. Once Bitcoin Cash have built a strong foundation and reached a competitive market value, many exchanges and investors will start to take advantage of its potential. When Bitcoin miners see such increase in value and demand, they will start either dividing their mining operations between Bitcoin and Bitcoin Cash, prioritize mining Bitcoin Cash over Bitcoin, or will even seize mining Bitcoin and switch to mining Bitcoin Cash. Bitcoin holders will start trading their Bitcoins in exchange for Bitcoin Cash. If Bitcoin Cash will finally surpass Bitcoin's market value, major Bitcoin backers will liquidate their Bitcoin assets as it is already less valuable and they will invest more in Bitcoin Cash. Major Bitcoin miners will completely halt Bitcoin mining operations and mine Bitcoin Cash instead. The majority of Bitcoin holders will exchange their Bitcoins for the now more profitable Bitcoin Cash. Bitcoin's market value will tremendously drop further. All remaining Bitcoin backers, miners, and users will be forced to give up Bitcoin. Bitcoin Cash will dominate the entire Bitcoin Codebase network. Bitcoin will die.

Be informed that regardless of whatever superficial claims a full node may introduce to the public stating how advantageous and beneficial their rules may be, the main purpose of a cryptocurrency hard fork is splitting the cryptocurrency into 2 (or more), initiate forced implementation of their new rules and forced retirement of the old rules. In contrary to Bitcoin ABC's claim of Bitcoin Cash's design for peace and coexistence, 2 cryptocurrencies differentiated by its own ideology cannot peacefully coexist in the same Bitcoin Codebase network. As prior stated, it will be a bloody oligopolistic competition wherein either one cryptocurrency (either Bitcoin or Bitcoin Cash) will eventually die due to stagnation or will be forced to permanently evacuate to a different Codebase network to survive.