This website compares Bitcoin to a fictitious centralised digital token/voucher called “CorporateCash”, any similarities with real projects are unintentional.
A centralised database operated by the CorporateCash Group (a collection of companies). As such, those using CorporateCash are fully dependent on these companies to allow them to make payments. Its supply is unpredictable and uncapped and users sacrifice their privacy by using CorporateCash. It is not a ‘cryptocurrency’, it is a voucher scheme run by a group of corporations.
A peer to peer value transfer system operated by anyone who wishes to partake. Individuals using Bitcoin are fully independent, and do not need permission from anyone to make payments. Bitcoin’s supply is predictable and limited, and it will soon become the hardest money the world has ever had. It is digital gold, run by the people.
There are significant fundamental differences between CorporateCash and Bitcoin. Click each feature to read more.
|Supply||Uncapped||Capped at 21,000,000|
|New Tokens||Issued by Companies||Issued by anyone running mining hardware|
|Transaction Security||Weak (Can be reversed)||Strong (With 6+ confirmations)|
|Rule Enforcement||Companies||Anyone running their own node|
|Privacy||Not Private||Can be private (like Cash)|
|Censorship Resistance||Weak (Censorable)||Strong (Uncensorable)|
Click the arrows to read more about each feature for both Bitcoin & CorporateCash
Yep, just like that!
Bitcoins supply is superior to that of any CorporateCash because it is predictable & capped.
The supply of bitcoins is set in code and enforced by the bitcoiners using full nodes (see Rule Enforcement). For these bitcoiners, checking the current bitcoin supply can be done with the command
> bitcoin-cli gettxoutsetinfo. Bitcoins are issued at a predictable, decreasing rate, and the last bitcoin will be issued in the year 2140. Image Source
Read more about the supply of bitcoins here.
There is no limit on the supply of CorporateCash. Like with fiat currency ($/£/€) the holders of CorporateCash cannot predict the future supply of the 'currency'.
Bitcoins method of issuing new tokens is superior to that of any CorporateCash because it does not rely upon a centralised group to decide who gets the new tokens.
New bitcoins are added to the supply by miners. Anyone can become a bitcoin miner by running free mining software on their computer. Because normal computers are not optimised for mining bitcoin the electricity cost will be far greater than the value of the bitcoin mined. To be more profitable you can buy hardware from one of a growing number of companies who make special computers designed just to mine bitcoin.
The issuance of CorporateCash is entirely controlled by CorporateCash Group (a collection of companies). They can choose to issue as much CorporateCash as they desire in the same way that an individual can issue as many IOU's to their friends as they desire. Users of CorporateCash not only have to trust that these companies are trustworthy, but that the companies have perfect security, because if an attacker compromises the companies they can create as much CorporateCash as they like.
Bitcoin transactions are more secure than any CorporateCash because it does not permit a centralised group to reverse long confirmed transactions.
The more confirmations a bitcoin transaction has, the less likely the transaction could be reversed. Once a transaction has 6 confirmations (~1 hour after the first confirmation) it is very secure.
The CorporateCash Group have full control over the network, they can reverse any transaction after the fact if they so desire. A CorporateCash transaction can ever be deemed final or settled.
The rules of Bitcoin are enforced by individual users of bitcoin, which is a superior system to that of a CorporateCash which relies upon the trustworthiness of a group of companies.
Anyone can run a bitcoin full node which verifies the validity of the current state of the bitcoin network (the UTXO set) and rejects attempts to make invalid transactions (for example a transaction that generates 1000 bitcoin out of nowhere). By using their full node to manage their bitcoin they can use bitcoin without having to trust anyone. For example, to know their bitcoin balance they can check the balance of their addresses using their full node (they don't have to ask some other 3rd party to tell them their balance). To run a full node see bitcoin.org or the node launcher.
CorporateCash Group run the network and has complete control over any rule changes. This could include making old transactions invalid or taking 10% of all users holdings. Users have must accept rule changes and have no method of recourse.
Bitcoin can be used without having to submit personal information, whereas CorporateCash requires all users to provide their identity information so that their spending habits can be tracked and sold.
You don't need to provide any personal information to use Bitcoin. To receive bitcoin you just need to generate a bitcoin address and give it to the person sending you bitcoin. This address isn't linked to your identity, but care needs to be taken to keep it this way. There are tools available to help you keep your bitcoin privacy including wasabi, JoinMarket and whirlpool. The tools to stay private while using bitcoin are becoming increasingly easy to use, and the tools used to break users privacy are becoming increasingly useless by breaking the common heuristics.
Companies have headquarters. These headquarters are often located in countries with strict laws governing transfer of value or money transmitting. To avoid the risk of encountering legal issues with the state companies often go above and beyond the legal requirements and require identity verification for users of products that could be considered financial instruments. This means that users of CorporateCash have to link their identity to their accounts, which means that CorporateCash Group can surveil the financial transactions of all of their users. Financial transactions reveal a lot of information and are a valuable data source. Companies often sell such data to advertisers and frequently lose control of the data to hackers who sell the data to criminals.
Bitcoin allows anyone to send value. CorporateCash only allows those whose ideology they support.
Because you don't need to provide personal information to use Bitcoin, it is not possible to censor individuals using bitcoin (provided they maintain their privacy) because you can't link a user with their coins.
Corporations have terms of service. If users break these terms they are often blocked from using the services offered by the Corporation. Given that CorporateCash is run by companies it too has terms of service, and breaking these terms will result in users losing access to their CorporateCash. Increasingly companies are targeting users who hold specific views or opinions and finding rule violations is often easy given the huge number of rules that users must agree to in order to use the service. This means that users of CorporateCash are at the whim of the CorporateCash Group.
Is CorporateCash an easy way to get Bitcoin?
CorporateCash Node Operators (the CorporateCash Group) can link transactions with user accounts, there will be no way to use CorporateCash anonymously. Using CorporateCash to buy bitcoin will have significant privacy implications because the transaction will link the bitcoin you buy to your identity. Bitcoin privacy tools (such as CoinJoin) help limit this issue somewhat, but it is better to acquire bitcoin without providing your personal information.
Is it free to send CorporateCash?
CorporateCash claims to have zero fees. It is not free to send CorporateCash; as with many modern services the cost is likely to be your personal data. This personal data might include the following: Full Name, Address, Phone Number, Social Security Number, Bank Account Details, GPS Geo-Location, Carrier Information, list of Contact in the Contact Book on Device, Name of Merchants and sites and locations where it is used, Name of Purchased Products or Services and Name and Full Information of those whom you send or receive from.