About – XBT Apparel

ABOUT US

Bitcoin was created by Satoshi Nakamoto to address the problem of broken money, i.e., the tendency of those in power to debase a currency and thereby extract capital from its citizens without their consent. Despite its initial success, over time a number of problems appeared in the Bitcoin ecosystem. The default implementation of the Bitcoin code, Bitcoin Core, was hollowed out from the inside by marxist coders, who viewed Bitcoin as a generic database rather than money. Many of these coders, people who had great power over the direction of Bitcoin, did not even own any Bitcoin. They implemented changes that degraded the Bitcoin network, despite widespread backlash from Bitcoin node runners. Through BIP (Bitcoin Improvement Protocol) 110, a large minority of Bitcoin node runners attempted to undo the damage of Bitcoin but, despite no active resistance from the Bitcoin community, were ignored by the large mining companies that processed most of the transactions. In the original design of Bitcoin, miners exist only to verify transactions and add new blocks to the Bitcoin blockchain. However, when these large companies decided, as a group, to ignore BIP 110, it became clear that the Bitcoin blockchain had effectively been captured by large corporations, and whoever stood behind them. (Most likely, nation states.) From this point forward, there was nothing to prevent the large mining pools from implementing any change they desired, including inflation of the fixed amount of Bitcoin.
As a result of the above, the minority of Bitcoin users who desired to remain faithful to the original ethos of Bitcoin chose to split from chain. They did this by changing the hashing algorithm required to verify transactions. This effectively fired the miners and freed the forked chain from their influence. The new hashing algorithm is known as Blake2B and the ticker symbol associated with the forked chain is XBT, hence the title of this company. It is the opinion of the creators of XBT Apparel that XBT Bitcoin will, in the long run, be the only Bitcoin chain that will remain faithful to Satoshi’s vision. The legacy chain, BTC Bitcoin, will eventually lose the properties that allow it to be uncensorable sound money. And, if BTC Bitcoin loses those properties, it will lose its value. Given our belief in this inevitable outcome, we are proud to offer merchandise that promotes XBT Bitcoin. We will, in whichever small way we can, promote XBT as the only real Bitcoin.