There have been many smear campaigns against Bitcoin SV (BSV) after it separated from Bitcoin Core (BTC) and Bitcoin Cash (BCH). In order for BTC and BCH to legitimize their claims on Bitcoin, they have continued to discredit BSV. However much they try, there are reasons why BSV still continues to be the enterprise blockchain of choice by governments, industry leaders, businesses and investors. The primary reason is simple: BSV is truly the original Bitcoin.
Why BSV is the original Bitcoin?
Bitcoin SV stands for Satoshi Vision and it has continued to stay true to Bitcoin creator Satoshi Nakamoto’s original vision for Bitcoin. Nakamoto, known in the real world as nChain Chief Scientist Dr. Craig S. Wright, is on board the BSV network. nChain, which has over 800 blockchain patent applications in its portfolio, continues to work closely and build platforms on the BSV blockchain.
In February 2020, BSV has successfully restored the original Bitcoin protocol through the Genesis Upgrade—as close as possible to the Bitcoin white paper written by Dr. Wright and published in 2008. The upgrade allows for the protocol to be set in stone—something that should have been done from the beginning, but was changed due to the whims of BTC and BCH proponents. This makes the BSV protocol as stable a foundation can be so that an infinite number of applications and platforms can be built on top of it, much like how the Internet protocol is, only much better.
“Bitcoin SV is capable of changing the way we use the Internet. It completely displaces the legacy ad-based model. On BSV, individuals can own their data and send micro-transactions peer-to-peer. Twetch would not be possible without Bitcoin,” Josh Petty, co-founder & CEO of blockchain-based social media application Twetch, said.
BSV is infinitely scalable
Dr. Wright has always said, “Bitcoin needs to scale in order to survive.” And the Genesis Upgrade has unlocked the BSV blockchain’s capacity for unbounded scalability. Its test network recently hit a record of more than 9,000 transactions per second—evidence as to how scalable the network is, compared to BTC’s mere 7 transactions per second. The blockchain can handle huge amounts of data, recorded immutably in a chronological manner, and this is why BSV can handle low-cost microtransactions at an average of 0.002 USD per transaction as opposed to BTC’s 1.43 USD and BCH’s 0.024 USD per transaction.
“There are two reasons why it is significant to invest in the development of the BSV blockchain: one reason is that Bitcoin has a very stable underlying technology; the other is the unlimited expanding potential of BSV, together with its cheap transaction fee that gives our products a great space for growth,” WeiBlock, an incentivized social media platform in China, founder Wan Sheng said.
BSV abides by laws and regulations
Another reason why BSV is chosen by businesses is because of its regulation-friendly mindset. The BSV ecosystem strives to always abide by laws and regulations. As Dr. Wright once stated, Bitcoin has to work within the law for it to be valid. And BSV is staying true to this rule in order for it to be adopted worldwide as a legitimate technology.
These reasons are hard evidences as to why BSV cannot be stopped no matter what detractors say about it. The technology speaks for itself.