We Are All Satoshi: Crypto Expert Breaks Down Reasons Why We Are into Crypto
As part of his “We are All Satoshi” videos, crypto expert, Rick Falkvinge discusses reasons why we are interested in cryptocurrencies and what the main differences are among bitcoin-BTC and bitcoin-BCH communities. Bitcoin Cash [BCH] sprung into existence as a fork of Bitcoin, in an attempt to resolve the latter’s scalability and high transaction cost issues.
In considering the differences between the bitcoin-BTC and bitcoin-BCH communities, he pointed out that the major factor that makes the two different is motivation. As he put it, “why are we trying to make something work so bad?” and the answer to this is what gives us a better idea as to what makes each respective community unique.
Investment Strategy vs. Making a Difference
Falkvinge’s main argument is that bitcoin-BTC fork community focuses more on “investment”, that is either discussing prices and their ability to “moon”. He also described what most of their members talk about in Reddit forums, which are reflected in memes that either depict making enough money to buy Lamborghinis or skyrocketing of cryptocurrency prices.
This, however, is not the case with the BCH community, in fact this respective community has a “collective disinterest,” as Falkvinge puts it. After further analysis, he noted that most people who support BCH are either activists or entrepreneurs. These two groups have common values, which include settling with what they possess and “diving in head first and betting”.
Ultimately, making money is a possible goal for this community, but it is not the entire focus. Falkvinge sees the BCH community as one that wants to contribute towards the creation of a better world and to ensure that solutions to problems are provided.
Falkvinge has definitely made an interesting case for the overall differences of BTC and BCH communities, which is an angle that has not been considered up until now. This goes to show that one community is all about prices and the other shows complete disinterest in its likes. Supporting a cryptocurrency project entails purpose, which is not always monetary, especially in the financial sector.
What are your thoughts on this take? Do you think today’s crypto market’s downward trend is a result of focusing on profits only? Is it time that we considered the long-term effects? Let us know in the comments below.
To listen to the complete “We Are All Satoshi” piece, go to: https://www.youtube.com/watch?v=frhNflzX7bc&feature=youtu.be