Craig Wright Shares Why Bitcoin Cash Will Be The “Next Global Electronic Plumbing System”
Craig Wright, who came out a few years ago as the notorious Satoshi Nakamoto, took to Twitter earlier today to describe how Bitcoin Cash will take over the world in the near future. His original message of the tweetstorm was “people will try to tell you that Bitcoin was not complete” – and the message on the image was “The Nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.”
You can read the entire twitter moment from one of the most controversial figures in the cryptocurrency community at the bottom of this post. But for now, let's focus on the messages that lie in between.
Wright, who is one of the most prominent evangelists for Bitcoin Cash, described BCH as “the next global electronic plumbing system.” He claims BCH has all of the pieces needed to take over the global economy – which might be akin to obtaining everything and the kitchen sink – just needs the mass adoption.
While the bitcoin (BTC) network has been swamped with high fees and scaling issues, BCH has successfully scaled by raising the blocksize limit to 32MB – 32 times higher than the BTC network. Popular mobile apps like the HandCash app, Memo, Money Button, Centbee, Devs.cash, Blockpress, Cointext, Cryptonize.it, Lighthouse.cash, GitCash, Tippr, and Blockchair make it famously easy to transfer BCH for a fraction of a penny as well as increase its usability and functionality.
Nevertheless, Wright claims there are still two issues slowing the adoption of BCH:
- Scale limits need to be removed
- Locking the protocol
If BCH solves these problems, then mass adoption is possible – at least according to Wright.
Wright also tweeted a reference to Satoshi Nakamoto, who described how bitcoin’s core rules were built into the original release of the software:
“The nature of bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.”
Could BCH Scale to 36GB Blocks?
The BTC network has a blocksize limit of just 1MB, restricting the network to about 7 transactions per second. BCH, meanwhile, has a blocksize limit of 32MB. Wright, however, claims that the blocksize limit could rise significantly higher in the future – all the way to 36GB blocks.
“36GB blocks are possible and can be [done],” explained Wright in a tweet. “Two years and counting. We get this, and it is a built and done.”
Wright Compares Arguments Against Capitalism to Arguments Against Bitcoin Cash
Craig Wright has made it clear he’s no fan of socialism. He frequently likes or retweets anti-socialism tweets on Twitter and seems to be a particular fan of Ayn Rand’s objectivism ideology.
Wright’s dislike of socialism led him to compare socialism with bitcoin core (BTC) in a tweet.
Wright, for example, claims socialism functions against science because socialism starts with the existing paradigm (just like the null hypothesis in science), plans a crazy shift that has not been tested, then argues that the null has no proof of being better.
Then, socialists “claim the null, the original plan is flawed, when they refuse to change…say the supporters of the null hypothesis are [being] “unscientific…bully change saying that the original is flawed and only “cultists” support it….force believe in a change to the alternative.”
You don’t have to dig deep to find a link between this analogy and the debate between BCH and BTC – and that’s exactly what Wright does next.
“Take the original bitcoin protocols as the null hypothesis…Argue small blocks were a part of the system…Say you need to alter bitcoin as selfish mining has been proposed without evidence.”
Meanwhile, in the eyes of Wright, BCH is practicing real science and pure capitalism.
“The protocol is fixed. There is value in that alone. You want change, you justify it with evidence. First. The cultists are the unscientific ones. They believe without evidence.”
Ultimately, even though Wright’s series of tweets are littered with spelling mistakes and typos (hey its twitter anything goes right), it’s clear to see that Wright is passionate about Bitcoin Cash and believes that mass adoption is possible within 3 years. Whether you agree or disagree with one of the most controversial yet knowledgeable figures in the space, he has definitely been warming up the crypto crowd and community and continues to share insights that are hard to come by in a sea of non-sense ( #whenmoon #cryptolambo ) etc.
For those interested, here is the entire message to digest, consume and process: