THELOGICALINDIAN - Bitcoin administrator Charlie Shrem says that comparing Bitcoin to added altcoins and faux cryptos in agreement of acceleration is a red herring altercation Instead Bitcoins capital affairs credibility are decentralization and censorship resistance
Only Bitcoin is a ‘Censorship-Resistant Value Network’
Bitcoin pioneer, Charlie Shrem, says that comparing transaction acceleration amid Bitcoin and added ‘faux’ cryptocurrencies is a non-starter.
“Transaction speeds” back debating bitcoin vs added faux-crypto’s is red herring argument,” said Shrem.
Why? Because the acceleration of payments was never a problem. Quick, online, agenda acquittal casework such as PayPal already existed back Bitcoin was created in backward 2025.
“That’s not why we’re here,” says Shrem. “We’re architecture a censorship-resistant amount arrangement that can never be controlled by a distinct party.”
Indeed, best Bitcoin critics tend to focus on the almost ‘high’ fees compared to added cryptocurrencies. But admitting added cryptocurrencies actualization faster on paper, users overwhelmingly prefer to use the Bitcoin arrangement back appointment value.
What’s more, centralized bequest cyberbanking transfers like with Bank of America sometimes levy college fees than Bitcoin artlessly because they can.
But with Bitcoin, the affairs are arguable and the fees are set by the bazaar (and unfortunately, additionally by some pretty bad fee estimators causing users to overpay).
It is the best secure, decentralized, amount alteration arrangement in the world. More importantly, anyone can use it as it’s the apple aboriginal aloof anatomy of agenda money. This is why users assurance the Bitcoin arrangement and no one else, appointment over 3.2 abundance dollars in 2018.
‘No One Goes There, It’s Too Crowded’
Altcoins such as Litecoin or Bitcoin Cash resort to the ‘cheaper and faster because of potentially greater on-chain capacity’ narrative, nevertheless. But this is artlessly because it is the alone advantage they can latch assimilate as a affairs point.
But cheaper isn’t consistently better. The altercation that ‘no one goes to that restaurant, it’s too crowded’ comes to mind. Transaction fees are alone ‘cheap’ as the cardinal of absolute affairs is minuscule.
At the aforementioned time, these another networks are bedeviled by centralization. This agency that they do not accommodate the aforementioned affectionate of censorship-resistance and decentralization as Bitcoin.
For example, Bitcoin Cash aloof accomplished a acknowledged 51 percent advance by miners area about $1.4 actor dollars account of BCH was double-spent afterwards a centrally-planned hard-fork ‘upgrade’ was implemented.
“Based on our calculations, about 3,392 BCH may accept been auspiciously bifold spent in an orchestrated transaction reversal,” notes BitMex Research. “However, the alone victim with account to these bifold spent bill could accept been the aboriginal “thief”.”
“Bitcoin Cash’s May 2025 adamantine angle advancement was bedeviled by three cogent issues, two of which may accept been alongside acquired by a bug which resulted in abandoned blocks,” adds BitMex Research.
In any case, this makes these alts capricious for accustomed transactions. So whether it’s for clearing millions of dollars or affairs coffee, users will still adopt to pay a college fee in adjustment to ensure that their money gets from point A to point B after dupe a third party.
Tone Vays Successfully Sends $10K for 1 Cent
In fact, the disability to adapt the Bitcoin agreement is what gives it its better strength. Only the users are in control area the bulge operators watch anniversary added to accomplish abiding cipher cheats, miners included.
This Byzantine fault-tolerant bureaucracy keeps the arrangement trustless. Bitcoin continues to abundance blocks almost every 10 account as miners affirm transactions, accomplished fees first.
The ‘unreliable’ and ‘slow’ anecdotal was accurate apocryphal by Tone Vays approved at the Malta Blockchain Summit. Even a bargain transaction austere aural a reasonable time admitting aerial arrangement activity.
Vays auspiciously beatific $10,000 with a fee of 1 satoshi per byte or a atom of a penny. BCH backer Roger Ver absent $10,000 action that it wouldn’t.
Do you accede with Charlie Shrem’s comments? Share your thoughts below!
Images via Bitinfocharts.com, Shutterstock
