Bitcoin Cash as the World Currency: What It Takes

Hayden Otto - 15 October 2020

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Bitcoin Cash as the World Currency: What It Takes October 15th 2020
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Bitcoin Cash is designed to become P2P Electronic Cash for the world. The time we thought we had to complete the Bitcoin Cash roadmap has been greatly reduced, due to the exponential increase in money creation by the Federal Reserve. Before us is the single best Bitcoin Cash adoption opportunity ever and at the same time the ramifications for missing this opportunity are dire, for both the global economy and Bitcoin Cash. We must urgently increase funding of infrastructure to establish Bitcoin Cash as a viable alternative to fiat while seeding our communities with some minimum level of adoption to provide Bitcoin Cash visibility as the obvious alternative to fiat.

While Bitcoin Cash is undoubtedly the most ideal form of money today, BTC is no longer the sole Cryptocurrency and there are many new players all competing for the same user base. These competitors are well funded and if we remain complacent it's only a matter of time before we fade into irrelevance.

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As the fiat system collapses, all those who relied upon it to participate in commerce will be looking for alternatives. Sadly, if the entire global economy wanted to onboard itself to Bitcoin Cash today, it would not be possible. Bitcoin Cash has technical limitations, like the 32 megabyte block size, that can be overcome relatively quickly by investing big money into our infrastructure development. We must focus on getting Bitcoin Cash in a position where it survives the fiat endgame and where it can be presented as the obvious solution for the world. Technical independence from Bitcoin Core must be established now; by increasing funding to the Bitcoin Cash reference client, we can attract more top talent to efficiently complete the roadmap without having to rely on backporting. While noble, we no longer have the time to expend resources on code duplication by multiple node teams, many which are nothing more than hobby projects. There needs to be a concerted effort under 1 banner, where full-time developers are serious about keeping Bitcoin Cash competitive and completing the mission. With new scaling features added, bottlenecks ironed out and the roadmap complete, Bitcoin Cash can facilitate transactions for the entire global economy.

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While infrastructure is not as sexy as SLP Tokens, Smart Contracts, or DeFi, investing in it is vital to everyone’s success and the billions of unbanked relying on us. Without electronic cash, these other use-cases are worthless. Peer-to-peer electronic cash IS our killer app. Leveraging our greatest strength is also key to positioning Bitcoin Cash to become money for the world. That’s why non-developers have a vital role in expanding merchant adoption, which has the benefit of both raising the visibility of Bitcoin Cash as the alternative and seeding each community with the needed know-how for the operation of a Bitcoin Cash based economy. The Bitcoin Cash City is the standard for merchant adoption that should be strived toward by the rest of the world, where an economy built on Bitcoin Cash exists separate from the legacy system.

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Creating adoption hotspots like this must become a priority for Bitcoin Cash supporters, where the only costs involved is your time spent spreading awareness and educating people about Bitcoin Cash. While adoption has traditionally been pushed by Bitcoin Cash enthusiasts, like you and I, we have entered a new phase where businesses will soon seek alternatives to the dollar due to fiat debasement. If they already accept Bitcoin Cash as a payment method, their complete transition away from fiat will be smoother and they will even go on to recommend Bitcoin Cash to their customers and other companies they do business with. Tools that enable anyone to participate in the Bitcoin Cash economy, the Bitcoin.com wallet and Cash Register, are free to download and there are no sign-ups required. If a person has a phone or tablet and an internet connection, they can start using Bitcoin Cash today. In the Bitcoin Cash City we have repeatedly shown how easy it can be to get people onboard; all you need to do is ask, and the best place to start is at businesses which you frequently visit. The efficiency of Bitcoin Cash over fiat systems enables a merchant to make greater margins, and if they value your return business then they are likely to oblige.

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I am urging the Bitcoin Cash community to refocus their energy on being successful in our mission to become peer-to-peer electronic cash for the world. Petty squabbles over trivial issues and personal vendettas have distracted many from the mission. The stakes are high and mission failure is not an option, we must realize the urgent need to ramp up infrastructure funding and Bitcoin Cash adoption to bring clarity in these uncertain times.



The Fiat Endgame
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