Cryptocurrencies: Ethics, Principles and Lessons from the Bitcoin Hard Fork
A lot of people during the past few days debated on whether Bitcoin should have stayed as it was without being hard forked. Bitcoin and cryptocurrencies are not just means of exchange, trade or storing value. For me, they are symbols reflecting anarchy, revolution and freedom against corrupted governments, institutions and greedy banks. These principles are the main reasons that made me completely attached to cryptocurrencies. However, Lately I have seen and witnessed a lot of heat and exchange of insults between many who support the User Activated Soft Fork (UASF) and hard fork. Some even went too far insulting a whole country and its people. And for what? Money that could be lost? Remember . . . You cannot invest properly in your assets or money if you cannot invest in yourself knowledge, respect and humility. Also, please don't forget that the reason a lot of people believe that the banking system will fall is because of the banks' greed and selfishness, so don't be selfish and greedy. And if you disagree with someone or a group of people, then use your knowledge, skills and love to inspire them. You will never feel better by tearing others down. In general, the positivity I felt from the crypto-community made me so attached to the crypto-market, which is amazing, gave me hope and I'm so grateful for all that.
My personal opinion regarding the split:
I'm not happy that Bitcoin will split, but it was a matter of time until this happens. Bitcoin transactions have been getting more slow and costly and someone at some point would have still tried to hard fork it for the mentioned reasons.
Albert Einstein once said: "If you judge a fish by its ability for climb a tree, it will live its whole life believing that it is stupid".
Bitcoin will be stupid if you and I keep convincing it that it will always buy a cup of coffee. In other words, "climbing the tree". Unless, the hard fork happens to have that version of Bitcoin that will be able to buy that cup of coffee within seconds. then, you can talk to the average person and convince him/her that using Bitcoin is amazing, fast, not costly and reliable.
In summary, I don't like or want the Bitcoin hard fork at all. However, I have to force myself into liking it.
I don't know what will happen in terms of value to both coins, but I do believe that if Bitcoin survives this period, then it will survive any other hard or soft forks in the future. On the other hand, if Bitcoin Cash prevails in terms of value, then we, as a crypto-community, will have to be extremely cautious and updated, when it comes to investing, more than before. And remember: Do Not Invest in What You Cannot Afford to Loose.
you have said some things about the split to make me think about it a little differently now. I previously thought that Bitcoin would just keep going up and the new BCC would not go far. However, it is like Bitcoin 2.0. It would and could be the future so yes, you could buy a cup of coffee with it in seconds. Current Bitcoin, you would finish the coffee and a nice snack and still be waiting for the confirmation, LOL. You mentioned in your post about insulting a whole country, what did you mean about this and what country, not sure I heard that before. Thank you for posting this.
Marrada, thanks for your comment. I totally agree. About the country, I did not want to mention it out of respect because I have friends from there and I use products made from there on daily basis. The country has the world's largest population, which is around 1.379 Billion as I type :)
@tommybrook, np and the country, duh on my part, not thinking clearly. Got ya and yes I think we all use some products from there and maybe have some friends or know some people from there :) The future is bright! I don't hold too much Bitcoin but would love to see the technology advance even further, awesome stuff.