Bitcoin Cash is Bitcoin, and here's the astounding backstory of why.
Bitcoin was designed to be peer-to-peer electronic cash*. It set out to be faster, cheaper and more reliable than sending any other currency around the world. However, in 2015, Bitcoin development was taken over by a group of people with a different vision.
Their vision was that Bitcoin should essentially be a collectible — something you hold onto whose price goes up forever. Following this vision, they allowed fees to rise and rise, until eventually peaking at $60 to make one transaction*.
Bitcoin was no longer electronic cash.
The majority of the original Bitcoin users disagreed with this new direction*. There were heated discussions both online and off. Then the “digital collectible” crowd did something unprecedented in an open source project; they censored all dissenting opinions across the main Bitcoin discussion channels*. They also kicked out any developers that disagreed with their new vision*.
Censorship is a side effect of centralized power, and it is dangerous whenever it is implemented. Bitcoin was designed to free us from centrally planned banking, not to replace bankers with authoritarian technocrats.
Luckily Bitcoin has a built-in method for breaking free from those that seek to control it.
In August of 2017, the two camps went their separate ways. Bitcoin was split into Bitcoin Cash and Bitcoin Core. Due to the design of Bitcoin, nobody who held any coins at the time of the split lost money. In fact, everyone that held Bitcoin got an equal amount of both coins.
The electronic cash camp (Bitcoin Cash) immediately made all transactions nearly instant and practically free*. The “digital collectible” camp (Bitcoin Core) still have not reduced fees or transaction times*, and have instead added complicated features that only work in theory.
Currently, Bitcoin Cash and Bitcoin Core are fighting for the title of Bitcoin. We don’t know how long this battle will last. As of now, most legacy media outlets, as well as most currency exchanges, are referring to Bitcoin Core when they say Bitcoin. We believe that Bitcoin Cash will eventually take that title, as it already has in spirit.
We highly recommend that you look deeper into this topic, and try to understand the arguments from both sides*. We believe the facts speak for themselves, and that most rational people conclude that ‘digital cash‘ is a world-changing concept, whereas ‘digital collectible’ is not. And those of us that still believe peer-to-peer electronic cash is a useful tool towards economic freedom have already moved onto Bitcoin Cash.