Akin Fernandez, aka BeautyOn, the owner of the Bitcoin startup Azteco has referred to Bitcoin Cash as an abstraction which only slows down the growth of Bitcoin. His comments come barely a little after a month of Bitcoin Cash’s outdooring.
Speaking to Core Media in an interview, Akin emphasized that such offshoots dissipate time and it is very debilitating to the ecosystem. He noted:
“Bitcoin Cash is a distraction. A waste of developer energy. A political coin. A Technically inferior dead end. A road to nowhere. A withering branch. Junk!”
The Software engineer believes none of the forks will be able to maintain feature parity with Bitcoin and that they cannot merge the Core improvements.
“The crazy one coin for one coin software changes across the ecosystem can’t happen every time some disgruntled little man forks Bitcoin. It can happen once but that’s it,” he insisted.
Disregard Split Advocates
Akin thinks anyone trying this again will be ignored, or at least they should be, otherwise, every service will have hundreds of splits to manage. From his perspective, it’s confusing, pointless and ego driven utility free drivel.
As to whether another split will happen again, it is hard to predict at the moment. Well, the fact that altcoins are gaining prominence and enriching the space with innovations and multiple uses of the Blockchain, is it slim to have another Hard Fork of Satoshi Nakamoto’s mastermind?
“Sensible companies are busy building new software to work with Bitcoin,” he stressed. “They are also doing something about PR to protect the perception of Bitcoin from rogue socialist journalists who hate this new tool and the men getting rich off of it.”
The Bitcoin Evangelist affirms the original (and false) pretext for Bitcoin Cash’s creation, which is cheap transactions, is just a false guise. In his opinion, cheap transactions are here if your client makes them easy to construct.
It will be recalled that the Big Blockers have always made emphasis on the soaring Bitcoin transaction cost. Needless to say, many people were attracted to Bitcoin by its negligible transaction cost.
Akin believes that is where real work needs to be done and the problem is, doing that work doesn’t allow you to pretend that you are the boss of Bitcoin which is what Bitcoin Cash is all about. In fact, he referred to the whole Bitcoin Cash idea as ego but not Bitcoin.
Will Bitcoin Cash Succeed?
When Core Media asked him if Bitcoin Cash will succeed, this was his explicit answer:
“When you say, “succeed” what does that mean? Does it mean replacing Bitcoin as the number one stateless money? No one who is sane believes that. Literally, anyone can create their own version of Bitcoin, and name it whatever they want. All the keys get copied over as well as the transaction record. Just because something can be done it doesn’t follow that it will be anything at all.”
He also explained that Bitcoin’s purpose is to replace fiat money and in order to do that, it needs people to use it as money. In this direction, his point of view is that spinning up a clone and showing a balance has no utility and just an ego boosting and sham.
“Even if it lasts for years, its effect is anti-Bitcoin because it diverts attention away from what is actually important; This is more Daytime Soap Opera nonsense,” Akin concluded.