/biz/ - Business & Finance

Bitcoin BSV solves a really interesting problem: ‘how do you pay for, and get paid for computation?’ By putting digital money inside distributed computing instructions and creating an open market where miners could compete for the fees inside the instructions, Satoshi created an incentive driven system to create an entirely new form of distributed computing. Bitcoin is a super computer, where miners are incentivised to build stronger, faster cheaper computers to process instructions, not merel pass money between Alice and Bob.

2014 saw the emergence of ‘smart contracts’ which allow for conditional payments to be made on receipt of confirmation that other work has been done, but smart contracting must operate in a massively parallel environment where competing nodes can race to do the computations. When constructed properly the kind of computational work that can be done by miners in this manner is virtually unlimited. A paid-for instruction could for example be fetching a piece of data for a user when executing a google search, or even rendering some graphics.

So this leads us into an entirely new economy, an economy that is ‘data-driven’ because it is a truly competitive global financial system which can represent any kind of financial instrument and calculate that instruments’ relationship to the world in close to real time. It’s competitive because it makes microtransactions possible and affordable, and because the quantity and speed of possible contracts that can be executed is dictated by how much profit miners can make. So the better they are, the faster the ‘bitcoin computer’ is.

>>16881254
The more successful the bitcoin BSV system is, the more it will tend to account for other less secure and less able systems in the fractured and often unaccountable global economy.


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.


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.

>>16881274
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)

>>16881237
Based

>https://craigwright.net

>>16881237
Based

>>16881290
Will be added into the next /FBSVG/.

https://b.bitdb.network/ - Bitcoin file storage
https://bitdb.network/ - Random access memory for Bitcoin
https://planaria.network/ - infinite API over bitcoin
https://blockchair.com/bitcoin-sv - BSV explorer (advanced)
https://fivebucks.com - Fiverr clone, earn BSV
https://www.handcash.io/ - Handcash wallet (great for mobile)
https://www.moneybutton.com/ - Moneybutton wallet (another hotwallet)

CSW:
https://craigwright.net
https://medium.com/@craig_10243
https://medium.com/@rqtorresbtc_39666/compilation-of-440-craig-wright-s-post-papers-books-2019-12-30-chronological-order-bfcbaa2369aa
Compilation of informations explaining, why Craig is Satoshi
https://www.reddit.com/r/CraigIsSatoshi/
Interesting essays written in a philosophical way about BSV:
https://personacryptona.com/essays
Proof that Proof-of-Work is the only solution to Byzantine Generals' problem
https://gist.github.com/oleganza/8cc921e48f396515c6d6

>>16881237
>>16881254
>>16881274
>>16881287
The information dam is finally breaking...
Can't wait to finally unblock the stream

Bump nicely organized

>>16881768
OP here. The truth is out there. Anons just got to start digging.

>>16882087
Nice pic. Going straight to Twetch.