Who Cares About The Real Bitcoin, I Don’t
It doesn’t matter what the “real Bitcoin” is. In technology, “authenticity” is only important insofar as efficiency allows it to be. It’s unlikely this is the first time you’ve read my work.
I like to refer to myself as a cryptonaught.
I am someone who has spent a serious portion of my life exploring cryptocurrencies and cryptography.
We’re ten years into the blockchain revolution. Bitcoin is no longer the only cryptocurrency. It is no longer the only digital cash.
It is actually no longer the only Bitcoin.
What Bitcoin lacks in uniqueness, it makes up for in store of value, liquidity, and investor interest.
Not to mention security. Perhaps a rational crypto world would all flock to platforms that allow them to use the Bitcoin blockchain for security.
I’m here to tell you, reader, that there are several things which don’t matter anymore. Maybe they never mattered.
First, I should present a limited parameter for what it takes to “matter.”
What’s Relevant and What Will Gain Mass Adoption For the purpose of this article, what “matters” is two things: what is relevant and what will garner mass adoption.
The first thing I’d like to address is the issue of relevancy. I submit to you that the “real Bitcoin” argument is crooked to the bone.
It does not matter if Bitcoin Core or Bitcoin SV or Bitcoin Cash is the “real Bitcoin.”
They all are, and they all are not. They share the transaction history of the blockchain that Satoshi Nakamoto developed. They have different use cases, design philosophies, etc. Money talks, and there are billions in liquidity in each of them.
I’ve talked to a lot of people who know a lot about markets. I will talk to a lot more. It’s part of my career.
I’m blessed with access to some of the brightest minds in financial technology and cryptography.
Some percentage of the time I don’t even publish these conversations or the results of them for various reasons. A common conclusion is: Bitcoin will always be volatile. That means it will never make a perfect medium of exchange.
There are far more relevant subjects to discuss within each of these three bitcoins. In Bitcoin SV, they recently launched a messaging client that uses the blockchain. Bitcoin Cash continues to function as a widely accepted immediate alternative to Bitcoin. Bitcoin Core is all wrapped up in the developing of its scaling solution, Lightning Network. These subjects are all relevant. Arguments that any of these are “fake” are an obnoxious waste of time. The second issue I’d like to address is mass adoption. I and others have come to realize that mass adoption of Bitcoin itself might be a fool’s errand. I no longer envision a future where everyone I know has a Bitcoin wallet and prefers it over other financial instruments. For various reasons, that’s not the way Bitcoin is working out.
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