Review on Bitcoin SV by Fanuel PORPORTY
BITCOIN SATOSHI VISION (BSV), a derivative of bitcoin developed around the person of SATOSHI NAKAMOTO
Bitcoin Satoshi Vision, more commonly known as Bitcoin SV, is a cryptocurrency originating from a fork in the Bitcoin Cash chain, itself derived from a fork of Bitcoin. The objective of Bitcoin SV is to restore the supposed vision of Satoshi Nakamoto, the creator of Bitcoin, by restoring the basic protocol designed in 2009. This desire stems from the belief that the protocol is perfectly scalable and that it should not be changed. The stated objective of Bitcoin SV is to restore the vision of Satoshi Nakamoto. To do this, the developers of Bitcoin SV aim to gradually remove the changes made to Bitcoin over the years. The idea is to return to raw scripts to write stand-alone contracts, etc.
Bitcoin SV is a fairly atypical branch of Bitcoin in the sense that it wants to restore an idealized vision of the creation of Satoshi Nakamoto. The claim is legitimate: as a concept, Bitcoin is constantly changing, and it is normal to see a reactionary vision of it emerging from the crowd. Nevertheless, it seems that she was exploited by Craig Wright, her ideological leader, who claims to be Satoshi Nakamoto and to want to preserve "his Bitcoin"
Pros
- Bitcoin SV wants to become an immutable protocol as quickly as possible, a bit like the protocols of the TCP / IP and HTTP suite, which are today the basis of the modern Internet. This stability is supposed to provide a guarantee to entrepreneurs wishing to build services without the risk of seeing them become obsolete because of an upgrade. Bitcoin SV thus opposes the aggressive development of Bitcoin Cash or Ethereum, and comes a little closer to the conservative vision of Bitcoin-BTC
- An exacerbated religious dimension : All branches of Bitcoin have a religious dimension: like any currency, bitcoin requires that some have faith in its value. Bitcoin has brought with it the promise of a better world free from a financial system harmful to the greatest number, which is an ideal to follow. But even if BTC and BCH are subject to the same forces, the religious character is particularly emphasized in the community of Bitcoin SV.This religious side (some would say "cultural") is an integral part of Bitcoin's success. Without it, without the deep conviction that Bitcoin will one day replace the global financial system, the resistance to adversity of the various Bitcoin communities would not be what it is today. In particular, this explains why Bitcoin SV still survives today despite delistings and other massive releases.
- The ability to store files on the channel.
- A legacy linked to Bitcoin: culture, monetary properties, proven functioning.
Cons
- A lack of resistance to censorship, due to overly centralized mining and a community that seems to want the law to influence the protocol.
- A protocol built around a single person: Craig Wright "Satoshi Vision".
- The rejection by a good part of the cryptocurrency community.
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Comments (1)
January 17, 2020
I believe that keeping a vision framed in bitcoin can be beneficial as long as it complies with the sastifactions that bitcoin does not meet, the changes promised in February would have to be expected
