BTC vs. BCH Debate was Counterproductive for the Crypto Community

The Coinsbank Blockchain cruise was a highly anticipated event throughout the cryptocurrency community. Many of the most respected individuals were scheduled to attend. The list consisted of YouTubers, developers, investors, educators, business owners, and other so called ‘thought leaders.’ However, there were members of the community whose presence was certainly missed. Vitalik Buterin and Andreas Antonopoulos are just a few individuals who would have added intelligence and class to the event.

One of the most anticipated events was the debate between Bitcoin and Bitcoin Cash. Jimmy Song represented Bitcoin and Roger Ver represented Bitcoin Cash. The setup was perfect, a beautiful stage lit with natural light and an audience of relaxed viewers sitting in a small swimming pool. Unfortunately, the debate immediately went downhill. This was because there was no moderator.

Jimmy Song began by introducing the format of the debate, while Roger continually interjected until a crew member brought him a microphone. Once Roger was gifted the microphone, Jimmy announced he would not continue the debate if there were two microphones. Both individuals argued and displayed little respect for one another or the audience. These characters exhibited an awkward insecurity which was cringeworthy for any viewer.

There are two reasons why this kind of behavior is utterly asinine for the progression of the space. First, it is toxic behavior which repels any newcomer because it shows mistrust and tribalism within sections of the cryptocurrency community.

Secondly, this debate actually matters. Both of these individuals are very effective in their respective fields. Jimmy Song is an excellent developer who has helped many in the space. Additionally, Roger Ver’s message has always been about bringing freedom and liberty to people all across the world. Roger has also been an advocate of Bitcoin adoption in 3rd world countries, stating that people who make less than $2 a day should be able to use Bitcoin. More importantly, both sides have legitimate arguments. Just to list a couple:

• Does Bitcoin need to be a means of exchange in order to be a store of value?

• Is Bitcoin Cash a means of exchange, but sacrifices decentralization in the process?

It is unclear who won the debate. Both parties raised valid points but were often childish in their debating methodologies. The success of the Lightning Network may unify the cryptocurrency community because it would make Bitcoin a feasible means of exchange and a currency for global commerce.

Unfortunately, there are fundamental problems which may hinder the success of the Lightning Network. Bitcoin Cash supporters often point to the “traveling salesmen problem”. This concept is at the core of the Bitcoin vs Bitcoin Cash debate.

When applied to computational routing, the traveling salesmen problem occurs when there are different distances between each node in a network. If your message starts in one node and you want to send that message (transaction) to a different node on the other side of the world, ideally you want to take the shortest route possible. Up until now, this problem is not solvable in a reasonable time. Developers and mathematicians are using approximations and heuristics as possible approaches to solving this problem. This obstacle is certainly a hindrance, but if the Lightning Network solved this problem it would be extremely beneficial to everyone in the space.

Overall, there could have been better representatives for both sides of the argument. Tribalism is counterproductive especially when to comes to Bitcoin maximalism. Andreas Antonopoulos is a Bitcoin educator and a prolific speaker who would have been much more suited to a civilized debate.

When Andreas talks, he does not force you to embrace his opinion, he provides information which subtly leads you to make your own conclusion. This method of communication is essential when effectively interacting with others in a professional setting.

Lastly, possessing a tribalistic mindset when evaluating a new technology is one of the most counterproductive forms of analysis because the future state of the new technology is unpredictable. No one knows if Bitcoin, Bitcoin Cash, or even Uber will be around in 15 years. Therefore, making the claim that, “I will never use another coin other than Bitcoin” is not an optimal strategy. When evaluating new technology one must be humble, open minded, and adaptive.

Disclaimer: I am not a financial advisor. This is not financial advice. Please do your research independently and make objective decisions. This article is intended to educate readers about the BTC vs BCH debate during the blockchain cruise. The author of the article owns cryptocurrency.