/biz/ - Business & Finance

>>16747008
This is because at a fundamental level any fiat currency is a contract, a ‘promise to pay’, an IOU, which can be written as a contract in Bitcoin (SV), and it’s profitable to write fiat amounts into smart contracts on chain, which inevitably leads to the bitcoinization of fiat. It doesn’t, however, destroy fiat. Governments can still control their own monetary policy by issuing their own currencies and control their fiscal policy, and banks will be able to make loans to customers in fiat on the blockchain.

What governments gain from issuing fiat on the chain is security, auditability and cost savings. It’s cheaper for them to issue fiat on a distributed network that is secured by the free market and the savings can be passed onto the tax payer. And the benefits that accrue to mutually cooperating businesses in different countries that have all issued their fiat on-chain would multiply very fast because they would be conducting trade inside a common, fast, cheap, secure network environment.

>>16747014
It does, however, destroy BTC and other networks using SHA256 as it approaches scale. This is because miners well switch back to the network as it grows in value and returns more to hardware investors than BTC can. BSV is therefore an existential threat to BTC.

However BTC is not ‘Bit’ ‘Coin’ because it cannot store data on chain, or do computations on chain, or facilitate a free market for calculations in the block, or create a global microtransaction economy with a 100% legal immutable ledger on chain. Bitcoin SV also destroys the viability of Ethereum since it’s massively parallel by design so computations do not need to run on every node >sequentially, and because it incentivises faster and faster computations it will outrun Ethereum and make it obsolete.

At scale, there’s no use for more than one secure blockchain network protocol because an ‘internet of money’ is a giant piece of global security infrastructure. It only works properly when there’s one architecture securing everyone’s businesses together in the same framework. And ironically, since we can now do op_bignum cryptographic calculations inside transactions in script in BSV, we can make Ethereum a side-chain by paying for their Etherhash PoW to be performed and the results of the work submitted for audit on the SV chain. (Patented)

>>16747008
>OG's
>'
Embarrassing

>>16747008
bitcoin cash has a dogshit hash rate compared to btc. What's your defense to this?

>>16747014
>This is because at a fundamental level any fiat currency is a contract, a ‘promise to pay’, an IOU
correct
>which can be written as a contract in Bitcoin (SV)
incorrect
>and it’s profitable to write fiat amounts into smart contracts on chain, which inevitably leads to the bitcoinization of fiat.
wrong as hell

money is an iou while bitcoin is not an iou. but smart contracts can't interact with any backed or custodial system trustlessly. it's completely pointless and meaningless to rant about this.

>>16747008
Pic related. What is your counter argument to bsv's hash rate being worse than btc's?

>>16747021
>it cannot store data on chain, or do computations on chain, or facilitate a free market for calculations in the block
that has nothing to do with bitcoin that was never the purpose of bitcoin it's a fucking perversion.
>or create a global microtransaction economy with a 100% legal immutable ledger on chain.
the ledger is the only part that's important. a trustless permissionless publicly auditable ledger that is secure: btc. microtransactions can go on-chain or off-chain makes no difference in the value proposition of bitcoin: stop central bank fuckery.

>>16747099
The crypto blackpill... drive the difficulty to the moon then yank away all hash

>>16747109
>that has nothing to do with bitcoin that was never the purpose of bitcoin it's a fucking perversion.

>>16747099
hashrate can easily change altho it is bad as fuck, but...

>>16747124
basically there is no adoption sv is regressing all ""adoption metrics"" like block size and tx count are spoofed. sv is unquestionably going to $5 because it's a degen. not only it won't overcome bitcoin it won't even be able to keep up.

>>16747008
Very good post

>>16747193

Cool, let's see your short position my man.

>>16747208
i don't short shitcoins i only short bitcoin when it's appropriate

>>16747267

Nice excuse bro!

i don't think BSV will succeed. BTC does what BSV can do already and there are already other projects that are light years ahead of BSV in terms of tech, computer philosophy and smart contracts, specialized. BSV is trying to do too much and poorly with slow hands moving in the sphere. craig is kind of a loon who can't percisely explain something without sounding high off his own ego either, BSV is like the shitty reality tv show everyone wants to turn off besides the trashy low iq women who are into it. mesmerized by persona and some sort of superiority complex that disregards the outside world. delusional possibly.

bsv feels like any other platform on the internet.

>>16747388
anything can happen to an illiquid shitcoin if i use too low leverage it's pointless because i will make like what 25% in a year? i do a lot better on bitcoin where i can actually trade because there is a rhyme and reason for the moves (mostly to fuck over people). i will enter a short on btc soon enough i just need to see how this plays out.

>>16747423
>BTC does what BSV
lmao. Like instant tx?
Smart contracts?
Tokens?
Unbounded scaling?
Turing complete script language?

>>16747423
people many times forgets
1. craig has 1,1 million BTC
2. crypto blackpill

>>16747455
Increasing the blocksize is not scaling. It only gives linear transaction increase with size increase. With second layer you get exponential throughout increase

>>16747507
who made u the expert?

>>16747021
that image is the best written bsv explanation whoever wrote that should write more

>>16747516
it's a bunch of bullshit man... i really feel sorry for people like you. you actually think you are smart and nobody been kind enough to let you nicely know you are a brainlet.

>>16747455
Stop lying, deceptive faggot. BSV has got no VM.

>>16747507
You are smarter than Satoshi?

"A higher limit can be phased in once we have actual use closer to the limit and make sure it's working OK.

Eventually when we have client-only implementations, the block chain size won't matter much. Until then, while all users still have to download the entire block chain to start, it's nice if we can keep it down to a reasonable size.

With very high transaction volume, network nodes would consolidate and there would be more pooled mining and GPU farms, and users would run client-only. With dev work on optimising and parallelising, it can keep scaling up.

Whatever the current capacity of the software is, it automatically grows at the rate of Moore's Law, about 60% per year." SN 2010

>>16747550
>anything can happen to an illiquid shitcoin if i use too low leverage it's pointless because i will make like what 25% in a year? i do a lot better on bitcoin where i can actually trade because there is a rhyme and reason for the moves (mostly to fuck over people). i will enter a short on btc soon enough i just need to see how this plays out.

>>16747467
Has more than that
Dragonslayer

>>16747656
Giant blocks stored forever with fucking movies and music and shit stored on chain... Are you retarded? Why even have a blockchain? It is just going to converge down to one node run by Calvin and Craig that can host everything, the centralization pressure is insane with this setup. Might as well run it off a normal web server instead of having blockchain overhead. Bsv is the stupidest fucking coin on the market by far

>>16747507
>blocksize limit to no blocksize limit
>linear
jesus christ

>>16747987
Use your brain retard. Hypothetically if each transaction takes 1kb and you increase blocksize to 1mb then you get 1000 transactions, if you increase to 2mb then you get 2000. Transactions scale linearly to size increase. With second layer you can use a single lightning channel transaction to anchor millions of additional transactions.

>>16747467
>1.1 mil btc
Lel
https://www.crypto-news-flash.com/bitcoin-craig-wrights-courier-for-the-tulip-trust-keys-did-not-appear/

>>16748032
ok you are smarter then Satoshi. But why you poor if you so smart??

>>16748032
>>16747987

>>16747124
fuckin pleb
ofc the tx value and fees are dropping, but the amount of tx are going up, i like how you didn't post that graph
bsv is doing lots of cheap dapp transactions and supporting some new businesses
while on btc, people are just moving their useless bags around and supporting bitmex

>>16747507

lightning is not a second layer. Second layers are encapsulated in script.

Bitcoin ONLY scales on chain

>>16747563

If the ethereum devs understood Craig's design they wouldn't be having scaling problems.

Everything that needs to be done can be done within the original Bitcoin script. The nonsense about it not being "turing complete" comes from a misunderstanding of how computation in Bitcoin works.

>>16748345

This