Bitcoin: A Peer-to-Peer Electronic Cash System, by Satoshi Nakamoto, everything else is not Bitcoin!

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Things are actually quite simple. Satoshi Nakamoto, whoever this is/was, he or she or they (most likely), who is behind the pseudonym „Satoshi Nakamoto“ who has created Bitcoin, no doubt about that, that he was the author of Bitcoin. Satoshi, in short, see explanation above, has done a great job. Some programmers say, his work was not perfect and without mistakes (I cannot argue with that, because I am not a programmer and cannot decide/judge that for myself). But who is perfect? „Errare humanum est“. It just proves, that he was a human and not, as some say, something like a god. Good to know, as I think. Regardless of his „mistakes“ he has created something really revolutionary, which already had a significant impact on the world and humanity. And most likely will have an even greater impact in the future, a few times more than the internet had in the past, that is for sure.

To have an impact on humanity, a mission if you will, Satoshi designed it as „A Peer-to-Peer Electronic Cash System“. Not without a reason he embedded the message (taken from „The Times of London“)„‘The Times 03/Jan/2009 Chancellor on brink of second bailout for banks’. I understand that as a call for fighting the worldwide fraudulent banking system and empowering the people to use sound cash, without the need of a fraudulent middleman (or -woman). Just my takeaway of this message.


For this sound cash system, as the authentic author wanted it to be, he has every discretionary right to choose the name he wanted to. Even if one might think, now in retrospective view, what is always easy to do, that another name would better suit the mission. But he was the author and has the right to choose, what he thought fit. And in respect of his great work, we should also respect his choice and the purpose it designed into it.

„Bitcoin: A Peer-to-Peer Electronic Cash System“. Period.

He was the author, he has had the chutzpah to just do it. And the smart move was to disappear, ones his „baby“ was born and alive and kicking. Nevertheless we should show utmost respect for his work, cause he helped us to free ourselves from the flesh-eating hostages of humanity, the interest usury banks, manipulating central banks and corrupt and self-interested totalitarian governments. He had the chutzpah and did it, no doubt about that. Even some have said, that actually it was not a big deal, even if the arbitrary critics said, that they could have done it too. But they haven’t. It is a kind of „egg of Columbus“ theme here. In retrospective things are easy to decide. I admire his work and I am thankful for this tool he has provided to all people in the world for free.

This tools can only achieve his mission, if it works as described in the title.

„Bitcoin: A Peer-to-Peer Electronic Cash System“. Period. That was the intention of Satoshi, and he choose this for a good reason. Otherwise it can not possibly work.

Today we see the impact of his work, even if Bitcoin is just at the beginning of the evolution. Even in just the few years since 2009 a lot of mistakes have been done in the development of Bitcoin, with significant dis-improvements implemented over time. Just to name an example the Rbf-Feature (Replace by fee Rbf). With this bullshit feature, the user has to wait more than one hour to get a sufficient confirmation on his transaction. Without it, the user gets after seconds a good-enough confirmation, at least for most transactions which are usually small amounts. Besides implementing dis-improvements, there have been refrained necessary improvements, like for example raising the blocksize to avoid an explosion of the transaction costs.

Responsible for these mistakes are BTC supporters and developers. As BTC became unusable as „A Peer-to-Peer Electronic Cash System“ (Period) some BTC supporters started to argue, that BTC is not anymore a P2P-Cash System but a „Store of Value“ thing for highnetworths and not meant to be used by the common people, of whom most are poor in the world, sadly a matter of fact.

Courtesy the

But here is my point, if BTC is not a P2P-cash-system, than BTC is not Bitcoin.

Due to the respect for Satoshi Nakamoto and his work, he has clearly and unambiguously specified what exactly Bitcoin is, „Bitcoin: A Peer-to-Peer Electronic Cash System“ (Period). Everything what is not „A Peer-to-Peer Electronic Cash System“ and for all people with (electronical) access to the internet usable as „A Peer-to-Peer Electronic Cash System“, is not Bitcoin. It is something else, what personally I am not interested in.

BTC with transactions costs in excess of 20 cents per transaction, which is unaffordable high for the majority of people in the world with an access to the internet, is not P2P-Cash, and therefore does not deserve to be called Bitcoin, if one respects the work of Satoshi Nakamoto. It is presumptuous of the BTC supporters to still use the name Bitcoin, even if this thing has turned to something different, as they themselves have realized and therefore started to argued with “SoV”-narrative, which is complete BS. Money, especially cash, must fulfill first its function it is meant to be, and then it can become something different. But then it does not deserve to carry the name anymore.

I know, there is no legal obligation to use or not to use the name Bitcoin, because this name is not trademarked. What could not have been done, without disclosing the identity of Satoshi Nakamoto. But regardless of that, Satoshi Nakamoto deserves respect and deserves our respect for the spirit of his intentions, what Bitcoin is meant to be and its function „Bitcoin: A Peer-to-Peer Electronic Cash System”. Period.

Courtesy the

For now, and as long that is the case, BCH is today the only fork of the Bitcoin-protocol which deserves and is worth it to be called “Bitcoin”, „Bitcoin: A Peer-to-Peer Electronic Cash System”, by Satoshi Nakamoto, which respects the rights of the undisputed author of this protocol.

To misuse the real name for something else, what is not P2P-Cash anymore, is misleading, abhorrent, presumptuous and depreciating to the great work of Satoshi Nakamoto.

Satoshi Nakamoto and the humanity deserves better.

BCH serves this purpose and fulfilles the mission, for now.

Hopefully the idiots don’t overtake Bitcoin (BCH) ones again for their malicious intentions, as they have done with BTC.

I am proud to hold some Bitcoin (BCH) and to help that Bitcoin fulfills its mission to free the people in the world.

Courtesy to the, Picture taken from, the

Düsseldorf, 22.09.2018,

Sokol Mihajlovic

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