The Entrepreneurial Spirit of Bitcoin Cash

over 2 years ago (Edited)

With the increase in the size of our governments in previous decades, western economies are altering the economic model, making it similar to running a zoo.

As a zoo is a prison for wild animals, forcing them to live outside their natural habitat and be imprisoned for a lifetime, locked in a cage, or a confined area, the zoo economy is also violating fundamental human freedoms.

Source

Governments keep increasing and currently expanding their reach in all aspects of social and financial activity, while a few big corporations abuse their market-leading position and destroy free-market potential with their monopolization tendencies.

While the government is supposedly there to stop unfair advantages and protect the free market, it is now destroying the free market at will.

The forced regulations have very little to do with helping our societies flourish and our economies develop. It is all about the expansion of government into every aspect of our societies.

Entrepreneurial spirit is (…) an attitude and approach to thinking that actively seeks out change, rather than waiting to adapt to change.

It’s a mindset that embraces critical questioning.

Source: Forbes, Jacquelyn Smith

Bitcoin Cash has always been the quintessence of an entrepreneurial mindset, granting access to a modern economic model that includes everyone.

Government stalls Innovation and Entrepreneurship

Anyone that wants to start a business today must face an enormous bureaucracy and unrealistic government requests.

We have to visit dozens of government departments multiple times, talk with hundreds of clerks, stand in lines for hundreds of hours, hold and secure hundreds of papers, pay a dozen fees and taxes, spend a month or two before it is all ready and we can finally start. If we don’t quit in the process.

After starting a business, there will be additional government requests, paperwork, and taxes. And all this in a financial environment that is unstable. Anything can change and new paperwork, new taxes, new contact with government agencies will certainly be required. And I don’t even mention Covid and the decisions for lockdowns of the economy.

We will have to pay various taxes, and the consumer will also need to pay VAT! All these are to cover the expenses of a government that will always be in an ever-enlarging state of debt. Debt increases and taxes will keep rising. And now, the governments messed up with the money supply. Inflation is on the rise. Small and medium-sized businesses are suffering today. The governments printed excessive amounts of fiat, yet, most of it just boosted the prices of stocks, creating another danger, a stock market bubble.

Governments for about a decade are working on digitizing their operations and making processes easier. Well, if only the government was ever efficient, that would be great news.

Governments created a second maze of bureaucracy by digitizing some of their services. This is just any government mentality. Create additional steps instead of cutting down the inefficient parts of governance.

Source

The government websites are the same mess, just as the departments we visit. Amateurism is the only concept a government understands well.

Governments were never user-friendly. They are not there to protect and support the individual. They only create additional problems and increase taxation.

When you are 20 years old and have not faced the monster of bureaucracy, you may think it can’t be as I described. Well, it is worse. Way worse than that, and probably I only describe a mere 1% of this lunacy.

The government chokes entrepreneurism. It creates unfavorable odds for a startup to succeed. The response of the private sector is incubators and various financing services that always control the business to a certain degree.

There is an answer to this. A way to reduce cost and avoid this severe intervention and stalling of innovation exists, though. The digital economy offers a way out. Decentralized networks that governments can’t enforce regulations and have no oversight are the future.

The "need" for Regulation

Yet, today we witness various calls for crypto regulations, especially from the BTC maximalists.

It is "necessary"
It is wise to have regulations
It will help with adoption
We need the government!
Price will shoot up!

It is all about the fiat price, this is the sentiment within the BTC community. I am also an investor, but I have a different idea on regulations and different agenda, one that is about the long run viability.

Regulations stall innovation. Bitcoin wouldn’t need regulations if it kept expanding in merchant and user adoption. In fact, regulations are not important in decentralized blockchain networks at all. The only purpose is the creation of financial assets based on cryptocurrencies. ETFs, trusts, and other ways for institutions to “bet money” in crypto, as an investing diversification method.

Ask all those merchants, bars, restaurants, gas stations, hotels, websites, that used to stick this banner on their front window:

Image source: Flickr, by Francis Storr (2014)

This banner ("bitcoin accepted here") was the message and the reason for the massive adoption of the Bitcoin ecosystem, advocating Bitcoin will keep expanding its network of payments, SCALE, and reach mass adoption AS A CURRENCY.

Little did this shop owner know about Blockstream's plan to cripple Bitcoin and stall adoption. The crippled BTC network today is not Bitcoin.

Although, Bitcoin evolved.

The community decided it was going to scale with or without Blockstream devs. Bitcoin today is Bitcoin Cash, and it is accepted in about 10,000 locations worldwide.

Bitcoin Cash accepted here:

Bitcoin Cash:

Instant Transactions
Low Fees
User-friendly
Decentralized - no third-party intermediaries (LN, Liquid)
Mass Adoption Ready

This is the real Bitcoin message. Adoption as cash, as Satoshi explained in the whitepaper and the original message. Financial inclusion and economic freedom.

Bitcoin Cash is offering an alternative to the fiat menace, today.

"Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments"

Source: The Whitepaper

Bitcoin Cash is Bitcoin, money for the world that doesn't exclude the weak and poor but offers everyone an entry into the modern digital economy.

Trust means centralization, censoring, and intermediary control.

In Conclusion

There is an emergent opportunity, one that will accelerate innovation and create realistic terms for free-market competition.

In the next 25 years, the digital economy will reach the size of the real one. This is the real internet revolution that will have two competing sides. The custodians and the decentralized world. We will witness competition on the model of the Metaverse that will prevail and a sharp increase in decentralized developments.

The custodian world will work for part of the population that just follows the mainstream. However, the advantages of a decentralized economy already far outweigh any government-regulated market. The Metaverse won't be just about entertainment.

Businesses will register office addresses in locations within the Metaverse, just as they register a URL today. Although, this will all be permanent with no third parties involved. In an NFT approach, similar to the Ethereum domain services we see today.

There is no point in promoting BTC or ETH as payment methods. The extremely high miner fees prohibit their use as a currency in a massive scale. Bitcoin Cash is following the early Bitcoin movement, it is accepted in thousands of locations around the world, and the community works to see it massively adopted as cash.

Bitcoin Cash is a way out of the corrupt and broken governance systems, separating money and the State, seeking change, and enhancing the entrepreneurial spirit.

Originally published at Read.Cash

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