Defending the "Gold2.0" meme about Bitcoin?

2019-06-02T10:40:53.000Z Honest Cash

There is a new defense of Bitcoin (BTC) stating that it was never meant to be spent. You get influences like max keiser tweeting "Sure, it works for payments, but the intention was always to be Gold 2.0".

I understand that this is a response to the clear knowledge that a coin with high fees can't beat fiat. But I'd like you to dig one level deeper.

The authority figures are making these arguments against actual usage and while we can argue with them and we can point out how Satoshi did not intend this, this is missing the power of Bitcoin.

The main innovation in Bitcoin is that it has no central authority. This means that there is no authority figure. Whatever Satoshi wrote or did not write is really not a guideline of how we should develop and use Bitcoin from now on. We should learn from, but not use it as scripture. People like Adam Back re-interpreting the "written word" are making it about authority figures. Making this into a debate about who was right.

This debate can only be won by not participating in it. This is because there is no need to find any historical or authority figure that states Bitcoin is Cash.

Bitcoin is Cash because a very large group of people want it to be (and the technology works quite well, thank you very much). The amount of transactions on-chain is growing every month, the amount of places where you can spent your Bitcoin Cash is growing.

So the question you should answer is not about the original intentions of people that worked on this up till 10 years ago, the really important question you should answer is what do you think the vast majority of the world will want.

Do they want a Gold 2.0? With fees that rise to $100 if it actually gets properly popular.

Or do you want to take away the power of the few (like him), you don't believe fairy tales and generally think the 10% inflation every year is a bad f-ing sign, and you might believe that when its socially acceptable to escape from this fiat lock-in people will switch in droves, then maybe you can believe that Bitcoin Cash will be more successful.

Because the entire point of Bitcoin was to spread the power of how money works to everyone. Not a socialistic-style, but a "money speaks" style.

The one chain that will win is the one that benefits the most people.