Bitcoin (BTC) is failing everyone. Bitcoin community is also failing the people that they've attracted the last three years. I am one of them and I feel that noone was honest, the way things unfolded until today.

I bought Bitcoin in 2017 and traded, held and profited, but at some point I begun reading and following a few people to understand why they actually believed so much in it. I followed a friends recommendation and read the whitepaper. I was amazed by it and begun reading more and later found out Andreas Antonopoulos books. I was actually surprised that he even talked before the Senate of Canada and promoted the case of Bitcoin as a decentralized currency. Another person that I remember watching in the past was Roger Ver and I've instantly recognised him as a great promoter and marketer. Ver was simple and on point.

I've also begun reading the bitcointalk forum, just to try and understand the thoughts early adopters had. I begun reading Satoshi's and early miner's posts from the 2010-2013 years . These bitcointalk members were unique personalities that have nothing to do with what has become of this forum. Basically I tried to read the history of Bitcoin that I've missed and live some moments these people lived a few years ago. Only a few of them are still active in the forum. Most of these members have stopped posting there in 2018. I also remember finding a video with a few guys holding a small Bitcoin conference and showing how you can buy a refreshment from a Bitcoin venting machine. This video was from 2012 and actually impressed me as it gave actual proof of Bitcoin's usecase.

I've read about decentralization and financial freedom, about how Bitcoin was going to bank the unbanked, and about how it provided financial freedom to everyone. I also remember every person involved, talking about instant and almost feeless transactions and how Bitcoin was technologically advanced ahead of the banking system.

I've read all the above from people that were extremely intelligent enterpreneurs, from successful merchants, from skilled developers and Silicon Valley pioneers. Still today not a single person from these people cares to talk about Bitcoin. All the early developers have backed out and all the early investors and people that promoted Bitcoin are not even close today. Bitcoin still has Andreas Antonopoulos, although I'm certain that even he is considering that Bitcoin somewhere missed a turn and is heading to a cliff. I've watched Andreas videos from 2016, I feel that he was certainly supportive of larger blocks and I remember talking about community plans of having 32mb blocks in 2024 that would translate to 100,000 tx/s. I am sure that Andreas was a firm believer that consensus means putting aside our differences and finding common ground. This actually didn't happen as the decision was taken by a certain Bitcoin dev proceeding with the 2nd layer solution, the Lightning Network. This wasn't securing neither scalability nor decentralization of the network.

What we are watching now are statements by the Bitcoin community, that Bitcoin is not about financial inclussion, not about financial freedom, not about merchant adoption, not about being your own bank, not about fixing the major problem of scalability. Who's fixing it? Bitcoin Cash. What we are watching is a battle to draw funds from investment firms and promote Bitcoin as a digital gold of some short. Was Roger Ver wrong calling this approach a pyramid scheme? What are your thoughts when someone knocks on your door and asks to fund a project that provides you with guaranteed returns? This is the only narrative left for Bitcoiners right now. They deleted every decent feature Bitcoin represents and just promote it as a pyramid/ponzi scheme. Even Libra has stolen the obsolete Bitcoin quotes and claims now that it will bank the unbanked population of the world. Such a shame.

Bitcoin was proven to have failed as a P2P electronic cash system in 2017, with fees reaching $50, and millions of transactions waiting unconfirmed in mempool, for many days to be validated. It was proven that the direction Bitcoin was taking and the exclusion of members of the community that had a reasonable voice and had offered so much, was disastrous. The impact was obvious throughout 2018 and today hope in Bitcoin as a currency has diminished. Anyone, besides the heavy bagged Bitcoin maximalists, would actually admit they are using other cryptocurrencies to make their purchases and transactions. The Lightning Network looks like a total failure before it is even released, if it ever does so.

If anything, I'm giving Bitcoin Cash the chance it deserves, as until now they've been more honest and precise on their targets. Bitcoin Cash is actually following what Satoshi would have wanted for his invention and I will support the efforts of adoption of cryptocurrencies for their actual usecase, instead of "guaranteed" returns and a store of value narrative without something substantial.