iEthereum is Better than Bitcoin Series Update

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I want to take a moment to clarify my ongoing iEthereum is Better than Bitcoin series. This is not about making declarations or passing judgment on which cryptocurrency is "best" for humanity or the financial system. I'm not a technology expert or the final arbiter of what will ultimately prevail in the evolving world of digital currencies. My role is in business development and strategy—understanding the broader picture, assessing the competitive landscape, and identifying the value propositions that different technologies offer.

With that said, it's important to take a closer look at Bitcoin and examine whether it truly lives up to the hype surrounding its technology. Many people believe they’re buying into Bitcoin for its revolutionary potential as a decentralized currency or its technological prowess. But what if I told you that the Bitcoin you're investing in today isn't the same Bitcoin that existed when it first launched? This is where the conversation about Segregated Witness (SegWit) and the forks that followed comes into play.

A Closer Look at Bitcoin's Evolution

The split within the Bitcoin community, which led to the creation of Bitcoin Cash (BCH) and later Bitcoin SV (BSV), wasn't just about scaling. It was about principles and the vision of Bitcoin's future. Individuals like Roger Ver, who was once the spokesperson for Bitcoin, have openly distanced themselves from Bitcoin Core (BTC), supporting Bitcoin Cash as a more true-to-form version of what Bitcoin was meant to be—a peer-to-peer electronic cash system. Similarly, Craig Wright, the self-proclaimed Satoshi Nakamoto, has his own vision with Bitcoin SV, arguing that BTC has strayed from its original path.

Regardless of whether you believe Wright is Satoshi, it’s undeniable that he played a role in the early days of Bitcoin's development. The fact that these prominent figures have split from BTC should make us pause and consider why. All the while, those institutions that we have come to not trust are now supporting Bitcoin. This should cause pause.

Bitcoin’s Technology Today: A Flawed Narrative?

For those buying Bitcoin at today's prices under the notion that they're acquiring cutting-edge technology, I would argue you may not be thinking critically enough. There are valid reasons for buying Bitcoin: speculation, investment, inflation hedging, or even to gain an initial understanding of cryptocurrencies. But buying Bitcoin for the technology? That’s where the story becomes more complicated.

With the introduction of SegWit, Bitcoin was changed fundamentally. Proponents claim it fixed transaction malleability and increased efficiency, but in doing so, it removed signature data from the main transaction block. Critics, including many technical experts, argue that this makes it harder to audit Bitcoin transactions fully and opens the door for third-party, off-chain scaling solutions. In other words, the decentralized nature of Bitcoin—its greatest selling point—could be undermined by institutional control over key parts of the transaction process.

Bitcoin's Centralization Risk: A Future You Should Question

My biggest concern isn't just the technical flaws but the growing influence of centralized institutions like BlackRock, which are now backing Bitcoin. These powerful entities are pushing Bitcoin to the masses through a carefully constructed narrative. It's this institutional backing, combined with the changes introduced by SegWit, that raises alarms for me. What’s stopping these entities from controlling the very network they’ve come to dominate? The idea that Bitcoin is immutable is only true until it isn’t. A 51% attack or a 51% vote—in which a majority of the network's computational power could change Bitcoin’s rules—may not seem likely now, but it’s something we can’t rule out over the next 5 to 45 years. Do you trust these centralized players to keep Bitcoin’s original protocol intact?

To be clear, if you own Bitcoin, great! Hold it, trade it, and enjoy the rewards of being an early adopter. But if you're living paycheck to paycheck, my advice would be to limit your exposure. Buying more than 0.01 Bitcoin in the hopes of future wealth might not be the best move. Bitcoin's future isn’t as guaranteed as some would have you believe.

iEthereum: A Different Proposition

Our iEthereum is Better than Bitcoin series isn’t about tearing Bitcoin down; it's about shining a light on other technologies that, from a value transfer perspective, offer better solutions. iEthereum is one such technology. It's not perfect, and I’m not here to claim it is. However, it's cheap compared to Bitcoin—pennies on the dollar—and offers a hybrid approach as a mix of blockchain and distributed ledger technology (DLT). This makes it far more versatile for certain applications and allows it to remain lightweight while providing the benefits of Ethereum's consensus mechanisms.

We're not iEthereum maximalists, nor do we see Bitcoin as something to be abandoned. In fact, we believe Bitcoin in some form (BTC, BCH, BSV or other) will continue to stick around due to the major power brokers backing it. But iEthereum represents a compelling value proposition—dollar for dollar—and is better suited for certain use cases, particularly those related to value transfer.

The Bigger Picture

In the end, this series is meant to be a conversation starter, not a technical deep dive know all be all. It’s an opportunity to compare technologies like Bitcoin with iEthereum from a business perspective. It’s hard to compare apples to oranges, but ultimately, both Bitcoin and iEthereum are value transfer technologies—and in some ways, iEthereum’s hybrid model offers more than Bitcoin’s pure blockchain model.

The goal isn’t to tell you which technology is superior in every way. It’s to get you thinking critically about what you're actually buying when you invest in these technologies and whether those purchases align with the future you envision for cryptocurrencies and decentralized finance.

Conclusion

The narrative surrounding Bitcoin may be compelling, but it’s not without flaws—especially when you consider the role of SegWit, institutional backing, and the potential risks of centralization. Meanwhile, technologies like iEthereum, Bitcoin Cash, Bitcoin SV and Monero offer alternatives that may better align with the values many people believe they’re supporting when they buy Bitcoin.

Our series continues to explore this landscape, offering insights and analysis to help you make more informed decisions in the ever-evolving world of cryptocurrency.

As part of our ongoing commitment to exploring the evolving cryptocurrency landscape, we’re excited to announce our new series, "iEthereum is Better than Bitcoin," published every Friday on our website, www.iethereum.org. Over the next year, we’ll be diving deeper into why iEthereum offers compelling value propositions in comparison to Bitcoin. For those seeking a more technical analysis and in-depth articles, don’t miss out on our exclusive content over at www.iethereum.substack.com, where we’ll break down the complexities of these technologies with expert insights and data-driven arguments. Join us each week as we uncover the future of value transfer technology!

And remember, we are not maximalists for any cryptocurrency. There is room for many, and the transformations happening in the world today are spiritual—an expansion of consciousness that transcends any single technology, human endeavor, or understanding. The solutions that emerge will be those that are meant to be. This website and our self-organizing community believe in both value and opportunity, which is why we focus on iEthereum. Should the day come when iEthereum reaches parity with Bitcoin, we may shift our perspective, as the window of opportunity could be closing. Until then, we remain open-minded—time will tell.

iEther Way, We See Value!

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