Bitcoin was born to change the paradigm of the economy, but not the way we were told: instead of buying and storing, it's about earning and using.
The old economic paradigm is dead. While some crypto media insist on continuing to postpone the dream, others are already waking up to the flood of evidence that shows transparently that Satoshi Nakamoto had ruminated a master plan.
Which one you choose? Blue or red pill?
If you feel happy in the dream, you can take the blue pill and go back to what you were doing. The red pill, on the other hand, contains the entry key that will allow you to dive into the rabbit hole. Are you ready for deconditioning?
If you thought you knew what Bitcoin meant, maybe it's time to unlearn what you've learned and start over. This immutable database was not created to overthrow banks and governments. On the contrary, Bitcoin was designed to make them transparent and honest. But it's not just about money. The blockchain holds everything, from signatures and registrations to contracts, receipts, licenses or salaries.
By restoring the original vision of its creator, Bitcoin SV will make profound cultural changes in the universe of cryptocurrencies. Its unlimited scalability allows huge volumes of commercial transactions with minimal fees. At the time of writing, BTC fees are 1835.18 times more expensive than BSV's (according to Coindance data).
A new paradigm
We are witnessing the birth of a new paradigm, where the old HODL axiom (keeping bitcoins for years, pending their revaluation) is now replaced by BUIDL (developing on the blockchain, earning bitcoins and, especially, using them). Since they hijacked Bitcoin and strangled its block size, they also sentenced it to death, as they reduced its use cases to the minimum exponent.
«The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling».
Satoshi Nakamoto
«The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling».
Satoshi Nakamoto
Capacity of BSV versus BTC.
They told us that the important thing was to run a full node, and that's why we needed small blocks, and they tried to sell us their Lightning Network. And they almost convinced us. But their magic tricks didn't stand the test of time.
E-money among equals
Bitcoin was born as a system of electronic peer-to-peer digital cash, not as digital gold or store of value for the rich to continue filling their pockets at the expense of those who come behind. That, rather, sounds like a pyramid scheme, failing miserably in the attempt to create a true digital economy.
If we want to achieve the massive adoption of cryptocurrencies, it is necessary to start trading with them, so that wages can be paid, and not depend solely and exclusively on exchanges.
«BTC cannot foster an “earn and use” recursive economy because its blockchain scaling capability was crippled with a tiny block size. An electronic cash system requires fast transactions and very low fees. But for its own ulterior motives, the Bitcoin Core developer group kept blocks on BTC restricted to a tiny 1MB size.
1MB blocks only allow an average of 3 transactions per second, and can never rival the Visa network which averages 2000 transaction per second, and 56,000 transactions per second at peak periods. With tiny 1MB blocks, the BTC network often runs into congestion, with transactions sometimes waiting hours to confirm. This led BTC transaction fees to skyrocket. In January 2018, it cost $20-40 to send a single BTC transaction».
Jimmy Nguyen
«BTC cannot foster an “earn and use” recursive economy because its blockchain scaling capability was crippled with a tiny block size. An electronic cash system requires fast transactions and very low fees. But for its own ulterior motives, the Bitcoin Core developer group kept blocks on BTC restricted to a tiny 1MB size.
1MB blocks only allow an average of 3 transactions per second, and can never rival the Visa network which averages 2000 transaction per second, and 56,000 transactions per second at peak periods. With tiny 1MB blocks, the BTC network often runs into congestion, with transactions sometimes waiting hours to confirm. This led BTC transaction fees to skyrocket. In January 2018, it cost $20-40 to send a single BTC transaction».
Jimmy Nguyen
Bitcoin SV already covers large scales with tiny commissions. The new paradigm allows developers to create applications where users can earn and use BSV with ease, retrieving their information. Metanet has already become a reality.
Make money sharing information
Earning money with Bitcoin SV is as easy as creating an email address in MoneyButton or downloading the Handcash app to your mobile and start charging for the creations you share in the blockchain. From Twitter to Instagram. Photos, videos, audios, texts, records, identities and contracts. What you do best, you can share it immutably in the blockchain and earn money every time another user likes or uses your creation.
"When it emerged in November 2018, BSV began with a 128MB default block cap, compared to just 1MB on BTC. Transactions on BSV are fast, and cost less than 1/5 of a U.S. cent to send. On July 24, the BSV network recently upgraded to a new default block cap of 2 gigabytes (that’s 2000 MBs) – far far larger than BTC’s 1MB blocks. And next February, the BSV network will entirely remove the default block cap to allow unlimited scaling potential. We expect transaction fees to be even lower —tiny fractions of a penny— and transaction speed to be fast. This is how Bitcoin was meant to work».
Jimmy Nguyen
"When it emerged in November 2018, BSV began with a 128MB default block cap, compared to just 1MB on BTC. Transactions on BSV are fast, and cost less than 1/5 of a U.S. cent to send. On July 24, the BSV network recently upgraded to a new default block cap of 2 gigabytes (that’s 2000 MBs) – far far larger than BTC’s 1MB blocks. And next February, the BSV network will entirely remove the default block cap to allow unlimited scaling potential. We expect transaction fees to be even lower —tiny fractions of a penny— and transaction speed to be fast. This is how Bitcoin was meant to work».
Jimmy Nguyen
Applications for a new paradigm
UptimeSV allows any user to earn BSV by installing an application on their mobile device. It uses the inactive computing power of your device to help test the performance and uptime of a customer's website or other application. The user receives BSV for providing energy to participate in these uptime tests for platform customers.
At BicoMedia, users can register in the blockchain all types of digital files smaller than 310 MB. Meanwhile, in Bitpaste you can register texts and charge money for them. And in Etched you can immortalize a web page in the blockchain.
TonicPow is a peer to peer advertising platform that allows users to monetize their websites and earn BSV directly from advertisers, who personally place their ads on users' sites. For its part, Twetch is a new microblogging application, similar to Twitter, in the blockchain of BSV. It intends to expand its functionalities to transform even more Internet applications.
What's new in the blockchain
In addition, Cityonchain is a new information center on-chain organized around cities, similar to Craigslist in the U.S. or 58.com in China, which publishes local classified ads. And at FiveBucks, independent service providers earn BSV for their work. In addition, RateSV will enable users to earn BSV by purchasing and investing in real-time financial data that will be permanently recorded on-chain.
These applications alter the paradigm that Bitcoin is an asset to be «bought and saved». In contrast, Bitcoin SV is electronic cash that everyone can earn and use with ease. There's nothing to lose, and a lot to gain...
«This cultural shift will be especially powerful for developing countries, where small amounts of BSV can meaningfully change lives. Rather than asking the unbanked to buy Bitcoin from an exchange with what little money they have, the BSV ecosystem will open doors for people of all socioeconomic levels to easily earn BSV with apps on their mobile phones. With BSV coins in more hands, increasingly more people will have opportunities to actually use the coins —on new interactive BSV services, to buy products, and to send to friends and family».
Jimmy Nguyen
«This cultural shift will be especially powerful for developing countries, where small amounts of BSV can meaningfully change lives. Rather than asking the unbanked to buy Bitcoin from an exchange with what little money they have, the BSV ecosystem will open doors for people of all socioeconomic levels to easily earn BSV with apps on their mobile phones. With BSV coins in more hands, increasingly more people will have opportunities to actually use the coins —on new interactive BSV services, to buy products, and to send to friends and family».
Jimmy Nguyen
The revolution of the big blocks
But that's not all. According to Nguyen, «one of the leading BSV development teams (nChain) is working toward terabyte size blocks (1 million megabytes!) to process billions of transactions per block and 4 million transactions per second. That future means BSV can be the world’s public data ledger, recording payments and all kinds of other enterprise data transactions».
In addition, Bitcoin SV will revolutionize the cross-border payments industry, where value transfer will be as easy as sending an email. Transactions can be confirmed instantly and cannot be reversed.
In short, a new reality has been born. By regaining its original spirit, Bitcoin can no longer be stopped. Welcome to the future! Take your positions and fasten your seatbelts, as the new paradigm begins to bear fruit and the ship is about to take off. Have a nice trip to the afterlife!
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