Narrative 2: Bitcoin as Electronic Money

This vision returns to the original approach of the white paper: a peer-to-peer payment network without the need for trust in third parties. Here, the priority is on its functional use:

• Direct medium of exchange.

• Tool for remittances, payments, and microtransactions.

• Alternative in economies with low banking penetration.

This vision is defended especially by forks like Bitcoin Cash (BCH) and the BSV blockchain (BSV), which propose increasing block sizes to facilitate more transactions on the base layer.

Advantages:

• It preserves the democratizing spirit of the original design.

• It promotes financial inclusion and everyday use.

Criticisms:

• It reduces its appeal to large capitals seeking reserve assets.

BSV exemplifies this with unbounded scalability for micropayments accessible to beginners.