The spectacular adoption Bitcoin enjoyed immediately after its launch quickly halted with a peculiar compromise. Bitcoin (BTC) was not allowed to scale.
While Satoshi created Bitcoin as a decentralized form of digital cash, within the years, one team assumed control of developments, effectively ousting the part of the community focused on global adoption.
The BTC version of Bitcoin proceeds antithetical to the Whitepaper, with a rather obscure promotional narrative of Store of Value.
An SoV, without means of exchange properties, but sidechains that will supposedly solve the development stagnation and indecision to proceed with scaling.
Anyway, we look at it, the decision to sustain the block size at a low level only justifies the personal interests of this group of developers that rally behind the for-profit private company, Blockstream (an AXA, Mastercard, iFinex sponsored company).
With the Whitepaper, Bitcoin sets the standards for a whole decentralized economy for global commerce.
Blockstream stalled developments, stagnated scalability of the blockchain, and its approach only allowed the Central Banks to catch up and develop new financial authoritarian tools dubbed CBDCs.
In The Whitepaper We Trust
With the whitepaper, Satoshi Nakamoto presented a payments network we have never seen before.
The nightmare for Blockstream that cancels all of its narratives is that Bitcoin works efficiently, as Bitcoin Cash demonstrates.
In case anyone is still wondering why Blockstream operates a vast anti-BCH campaign online, there’s one reason alone. Bitcoin Cash works and illustrates the falsehood of Blockstream’s narratives.
Until Bitcoin, no money network outside the banking system could survive. There had been numerous attempts before, but all ended with law enforcement seizing the website and shutting down centralized servers.
Satoshi Nakamoto solved that with a decentralized P2P Blockchain network.
Commerce (with banking e-commerce and POS) contains inherent issues, with several trusted third parties intervening to process, authorize, and execute a transaction.
The cost of a single electronic transaction becomes vast, and bank fees will only keep rising.
An unnecessary industry of payment processors, transactional security, and enforcement increasing the cost and prices of goods and services for decades becomes obsolete.
Satoshi Nakamoto, with Bitcoin, effectively described a solution, rendering this industry of trusted third parties obsolete. A payments industry preying on customers and merchants for decades is now useless.
Satoshi Nakamoto fixed the inefficiencies of commerce.
(source)
In 2008, the governments used taxpayers’ money with bailouts after bailouts to save the failing banks from bankruptcy.
No banker ever paid for their mistakes. They were part of the elite; they failed massively and still are part of the same elite.
An elite of failures, that established its success on taxpayer money and law-controlling practices.
The taxpayers, the people, paid for their mistakes and ignorance.
Satoshi Nakamoto created an economic revolution.
Yet, when a revolution is not working for the people, it becomes a false revolution.
Bitcoin, in its BTC version, transformed from a powerful form of money that empowered all persons into a speculative asset for a small greedy elite.
BTC is an oligarchy, controlled by a small team of developers, a system that serves nobody besides the BTC whales.
Bitcoin Cash proceeds in the direction Satoshi sets with the Whitepaper.
(bitcointalk, 2010)
Any way we look at it, the whitepaper describes Bitcoin Cash, not BTC, which clearly is the version that deviated from the target.
What is this target?
The target is taking a share from the bank cartel, the bank cards, and the banking e-commerce monopoly and proving an alternative decentralized money network works better.
A small cap on blocksize as a temporary measure against spam became a permanent issue that stalled Bitcoin’s exponential adoption.
In Conclusion
Hype is ephemeral. Bitcoin (BTC) creates tsunamis of hype and speculation, but we definitely can’t call them adoption.
A requisite for adoption is to use Bitcoin as a means of exchange.
Yet BTC only attracts investors or users of custodian LN solutions regarding its sidechain.
Only by using Bitcoin will Bitcoin fulfill its destiny.
Regardless, the small team in control of Bitcoin developments decided (years ago) it should never scale and will never fulfill its destiny as P2P Electronic Cash.
Bitcoin Cash is what Bitcoin was supposed to be before Blockstream stagnated its vision.
If anyone is still wondering, Bitcoin Cash is Bitcoin.
As fiercely as the establishment was fighting Bitcoin until 2013, it opposes Bitcoin Cash today, as Bitcoin Cash is the immediate competitor to the legacy financial establishment.
Progress and adoption of P2P Electronic Cash is the inevitable endgame.
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