Bitcoin: Max Keiser, Erik Voorhees and others argue if Satoshi created Bitcoin as p2p electronic cash or gold 2.0

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Bitcoin’s whitepaper intrigued a lot of people across the world as Satoshi Nakamoto was the first person to create an e-cash/digital cash by solving the double spend problem. Ever since its inception, the price of Bitcoin has been highly speculative and its use case has often been discussed/argued by various proponents of Bitcoin.

In the whitepaper, Satoshi Nakamoto described Bitcoin as “peer-to-peer electronic cash”, which obviously resonated wildly with Roger Ver, who is responsible for Bitcoin Cash, which according to him, is the actual Bitcoin. However, other people in the community have different opinions about this topic and consider Bitcoin to be a store of value like gold.

Dan Hedl tweeted:

Erik Voorhees, the CEO of ShapeShift, argued that Bitcoin was purpose-built since day 1, and the purpose was to be a “peer-to-peer electronic cash” as described by Satoshi Nakamoto in the whitepaper. Voorhees, however, confirmed that it has “arguably become gold 2.0”.

Dan Hedl disagreed has he tweeted:

Max Keiser stepped in as he replied:

“Replace ‘Cash’ in white paper with ‘Gold’. Satoshi semantically interchange(d) cash with Gold. This is where R. Ver got confused (and others) who misinterpreted cash in White Paper as referring to fiat.”

The opinionated topic created a healthy debate in the community, however, a lot of people in the community believe that Bitcoin will act as a store of value in the near future and that people would switch from Gold to Bitcoin. The reason for the above is that Bitcoin transactions are slow and expensive at times, which has led to the development of various solutions like, Lightning Network, SegWit, etc to solve Bitcoin’s inherent problems so that it can be used as a means of payment.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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