■Bitcoin is a protocol at its core, and BSV is its faithful implementation!
■Bitcoin is a protocol at its core, and BSV is its faithful implementation!
- The Fundamental Difference Between Bitcoin and BTC — The Invention and Original Vision of Bitcoin
- Bitcoin was invented in 2008 by Satoshi Nakamoto as a "Peer-to-Peer Electronic Cash System."
- Satoshi presented Bitcoin as an alternative to solve the high fee problems of existing payment systems like Visa, MasterCard, and PayPal, and to allow for micro-payments.
- The original Bitcoin was designed to exceed the 15 million daily online transactions Visa handled at the time, but the current BTC is limited to a maximum of approximately 300,000 transactions per day.
- The characteristics of the original Bitcoin created by Satoshi were: instant transactions, low transaction fees at the level of $1/100 of a penny, a scripting language and smart contracts, and data storage on the blockchain.
- Bitcoin was a perfectly working system upon its release, but after Satoshi left, the BTC-Core developers and malicious actors attempted to change the protocol.
- The Plot to Change the Protocol with 'SegWit' — BTC-Core's Protocol Alteration
- In August 2017, BTC-Core developers used a technology called "SegWit" (Segregated Witness) to change and defraud the original Bitcoin protocol.
- SegWit fundamentally altered the system by removing digital signatures from the Bitcoin blockchain, which runs counter to Satoshi's white paper vision, which defined Bitcoin as an "electronic coin as a chain of digital signatures." □ The Split that Preserved the True Vision (The Birth of BSV)
- Those who supported the original vision of Bitcoin countered this threat by splitting the blockchain ledger to preserve the pre-SegWit protocol in 2017.
- This was historically known as "BCH" (Bitcoin Cash).
- Later, after another attack and split from the BCH protocol in 2018, it came to be called "BSV" (Bitcoin Satoshi's Vision), and this is the real Bitcoin.
- BSV enabled the system to scale as Satoshi intended by increasing and eventually removing the block size limit. Completely removing the block size was Satoshi's original intention.
- BTC's Limitations and BSV's Vision — BTC's Scalability Issues and the 21 Million Limit Controversy
BTC limited the number of transactions allowed on the network by keeping the block size small.
The myth advocated by BTC-Core that 'everyone must run their own node' is inconsistent with Satoshi's writings, as Satoshi mentioned that nodes would be run in server farms in the long term.
Due to the small block size, BTC cannot secure sufficient transaction fees for long-term network security, and even BTC-Core developers admit the difficulty of maintaining the 21 million coin limit, citing the need to add inflation or switch to Proof-of-Stake (PoS) for system sustainability.
In reality, single transaction fees have exceeded $350 when the BTC network is congested, making micro-payments impossible. — BSV's Scaling and Restoration of Original Functionality
BitcoinSV (BSV) claims that by allowing a massive number of transactions through an unlimited block size, it can secure the network and maintain the 21 million limit without inflation in the long term.
BSV can have transaction fees that are millions of times cheaper than BTC, enabling the micro-payments Satoshi intended.
The scripting language and smart contract functionality designed by Satoshi were deactivated by BTC-Core but have been re-enabled in the true Bitcoin, BSV, by Dr. Craig Wright and others, and can function as a Turing-complete system.
BSV has finally completed processing over 1 million transactions per second through the Teranode implementation and plans to ultimately scale to billions of transactions. □ Conclusion: — BTC is a fraudulent system and a counterfeit token that is ultimately destined to disappear. — BTC is NOT Bitcoin.