/biz/ - Business & Finance

>>57108697
I know that feel, bro.

>>53387823
you are the new fag
OG from 2012 here, BSV is the real bitcoin

I mined bitcoin back in December 2012, 10 years ago almost to the day. After mining I also started buying from exchanges.
Back then it cost fractions of a cent to spend bitcoin, it could and was used for microtransactions. A gambling site called Satoshi Dice used these microtransactions to allow people to bet almost any amount of bitcoin and get paid back their winnings.
Bitcoin went from being a peer to peer electronic cash to "a store of value" or "digital gold". Did you ever wonder how it got there? Well buckle in and learn about a little company called Blockstream.

> Bitcoin exists
> People start using it for quirky payments, an online donation, some gambling, etc.
> Then real life businesses start to accept bitcoin, a muffin store here, a taco stand there, a coffee shop there.
> Next online businesses, real businesses start to accept it for stuff
> Next huge businesses start to accept bitcoin for things, steam, microsoft, etc.
> Bitcoin is obviously growing, a huge organic success. Existing competitors to bitcoin's payment network want it stopped. Master Card, Visa, PayPal, etc.
> Enter Blockstream, they buy off the key developers and moderators of discussion forums (bitcointalk and /r/bitcoin).
> All discussion of "alternative" non-blockstream controlled nodes is banned. Bitcoin+, Bitcoin Unlimited
> Non Blockstream bitcoin nodes were DDOS'd and attacked.
> Paid off developers all decide that increasing bitcoin's capacity is dangerous and refuse to lift the temporary 1mb blocksize limitation.
> Transaction costs go up because demand for transactions exceeds blockspace supply. Bitcoin can no longer be used for microtransactions, this removes a huge number of use cases for bitcoin.
> The mempool of broadcasted transactions grows and never clears, transactions become stuck in the network and never make it into blocks.
> Blockstream add "replace by fee" to bitcoin, now you can rebroadcast a transaction at a higher fee.

>>52920339
> Segwit is announced, a controversial addition that changes the structure of a bitcoin block to one that no longer conforms to the white paper description. By seperating the witness data from the transaction data the idea is that blocks can use this space to have more transactions. Stupid because increasing the blocksize to 2mb has the same effect.
> Blockstream no longer measure blocks by MB or KB but by a "weighted" size.
> No miners want segwit, it requires miners signal in their blocks support for it and once a critical mass of miners signal support, the hard fork would occur and it would be baked in.
> Miners are seperated into two camps, segwit supporters and big blockers.
> Blockstream shit their pants and race all around the world to have meetings with miners making false promises that they'll make more money by supporting segwit.
> Miners decide that they'll support segwit only if the blocksize is lifted to 2mb
> Segwit 2x is decided upon.
> Segwit is activated (Bitcoin cash is created to maintain the original bitcoin without segwit)
> Blockstream betrays the miners, never increases the blocksize to 2mb
> Attacks on BCH begin, a huge smearing campaign, exchanges refusing to list it. Coinbase even pulled support temporarily after initially listing it because the price was rapidly rising, to 50% of BTC's price.

I saw it all, BSV is the 2012 Bitcoin with full potential unlocked and as bitcoin should be.

>>52809881
you know nothing

>>52629208
wrong.
Bitcoin was taken over by an organization called Blockstream which was funded by the banking sector.
The goal was to destroy competition to existing payment networks. To do this they limited the blocksize to 1mb thus limiting growth of on chain transactions. At the time all transactions were on chain transactions, this halted adoption and growth immediately when the user experience turned to shit (high fees, transactions stuck in the mempool, etc).
They also set to work at castrating the functional capability of the scripts behind bitcoin, the op codes were removed or altered.
BTC has become nothing but a speculative asset that is chasing greater fools to sell to, everyone just wants to cash out into fiat, no one wants to build, no one wants to use BTC for transactions, it's all speculation and gambling.
t. 2012 oldfag

Get on my level scrubs
BSV is the real bitcoin

>>30117710
eat my ass faggot

> Only coin that scales
> Always low fees while maintaining global decentralisation
> Community is full of original bitcoiners
> Development is insane, new projects coming out all the time
> The most heavily shorted crypto asset ripe for a short squeeze
> Largely insulated from tether pump which means the tether dump won't affect BSV as much
> Supported by the most patents which are free to use if you build on BSV, only going to be enforced on other chains
> Most capable protocol that hasn't been ruined by idiotic developers
> Rock solid locked protocol which provides stable development platform and eliminates all centralised power from the system.
> Legal with existing global finance framework, makes adoption by companies seamless

>>29196223
2012 here, all in on BSV