hi everyone back today with another thing I want to share with everybody because I think it’s important and lots of people that are new to cryptocurrency I won’t know this so this time it’s another essay by yon old football who has a whole bunch of fantastic essays he’s posted over there on mediums so please go and take a look at his essays but today’s one that I’m gonna go over it was from September 18th 2017 so you might wonder why am i reading you know almost two year-old essays because it’s still every bit as relevant today and the title of this one is why some people call Bitcoin cash be cash this will be shocking to new readers and people that are new the cryptocurrency ecosystem they may be shocked as to exactly what the origin of the be cash nickname for Bitcoin cash was and here comes his essay so uh the an old says the August 1st 2017 fork of Bitcoin is called Bitcoin cash it was announced late July on Bitcoin cash org the fork happened because after four long years core developers and their corporate sponsors were successful in pulling the wool over the eyes of the community you see Bitcoin was always supposed to be a peer-to-peer electronic cash it was intended as permissionless network with fast and low fee payments this is what made it famous and allowed it to become a multi-billion dollar asset unfortunately those core developers had other ideas and are changing Bitcoin into what is called a settlement layer which ultimately won’t be a peer-to-peer system anymore there’s a mighty big difference between the peer-to-peer money we all know and love that exists today and the layered system that the Bitcoin core group envisions for the future a huge difference like night and day they are upset that Bitcoin forked especially because the fork calls itself Bitcoin cash Bitcoin cash may have less hash power and a smaller Network than Bitcoin but it follows the original road map the original code design and the original vision of Bitcoin is peer-to-peer money Bitcoin core on the other hand is much more like an altcoin with a complex overhyped code labyrinth called seg wit a refusal to allow Bitcoin to scale on chain is designed by Satoshi and a road map that takes away the power of the people and changes Bitcoin into a platform for the banks and no that’s not an exaggeration so they started the be cash social engineering attack make no mistake this is an attack with the same tactics they’ve been using for years in trying to control public opinion in the past their main weapon has been censorship this time they want to real able Bitcoin cash and hope it catches on it won’t work even the exchanges which are sympathetic to core are aware that playing politics here will cost them business and reputation the attack is more malicious than you think it’s not just that they have a bunch of trolls some paid who go around saying bla bla be cash they actually use their censorship at our Bitcoin and try to redirect unsuspecting users to our /b cache which is a subreddit they control don’t believe for one second there lies if I call it that because it’s an abbreviation that’s a lie nope this is an orchestrated social engineering attack in fact they have fake sub reddits fake Twitter accounts fake websites you name it why are they going to all this trouble it’s simple they want to disassociate Bitcoin cash from Bitcoin they don’t want to allow Bitcoin cash to use the bitcoin brand name and that’s completely hypocritical given the fact that the core group has used every dirty trick in the book censorship corporatism lies installing all cited here in the Arnold’s essay to usurp the Bitcoin project to their own ends by contrast all Bitcoin cash is trying to do is continue making the blocks bigger so that the peer-to-peer network can grow their secret hopes they are hoping that they can remove the Bitcoin name from Bitcoin cache they are hoping that new users won’t even realize there’s another version of Bitcoin they are hoping that those users won’t realize that Bitcoin was originally peer-to-peer electronic cash not this settlement layer chorus pushing and ultimately they’re hoping people don’t see that Bitcoin has changed course and that there’s a version of Bitcoin that stayed with the original formula it’s not going to work cheap tactics like this aren’t going to fool many people for long sorry core you’re going to have to compete on merit I know that scares you to death so there’s another fantastic essay by ahnold’s written a couple of years ago he nailed it exactly right but so many people that are new to Bitcoin they might not realize that the whole name be cash was literally a social engineering attack in which they intentionally tried to drive people to to fake websites and fake subreddits and fake things that they control trying to disassociate the Bitcoin cash name from Bitcoin whereas if you read the white paper it’s very clearly describing Bitcoin cash its BTC has no white paper it has no guiding principles at this point at this point it’s just a pump it dump maybe there won’t be a dump but it’s a pump scheme that a bunch of people think they can get rich off of it when there isn’t actually any underlying utility so if you are excited about Bitcoin its described in the white paper you’re excited about Bitcoin cash so thank you y’all for speaking out writing such fantastic essays and I intend to make more videos out of your essays in the future if you like this truth being spread and truth bombs be continuing to be spread share this video with a friend sherry Arnold’s essays and share this YouTube channel and head on over to Bitcoin comm where we stand up for the truth and we’re more interested in that than anything else so the truth is more important than being popular or sockpuppets on the internet so see you all next time

0 5