The resolution of the Bitcoin SV experiment
Disclaimer: Before I continue, I want to say that if you are an application developer upon any Bitcoin implementation, who has contributed, collaborated or shown any proof-of-work by creating something that someone might find useful, then I commend and applaud your contributions. What we have created so far upon Bitcoin’s original protocol is nothing short of monumental. However, the Metanet layers that leverage the true power of Bitcoin are being deployed with complete disregard of the toolset bequeathed to all of us, to truly make a significant impact upon the world. We all owe a moment of pause before we embark down a one-way street. We have only one shot to make this Bitcoin experiment the unified ledger of everything. Bitcoin is, and always has been an all-or-nothing zero-sum game. Dark forces have now spent a decade trying to ensure that this can never happen. This is why I speak.
Whether you are privy to this information of not, from around 2011, Bitcoin was accosted by a Fabian Society. These neo-Fabian authors re-wrote a Socialist narrative for Bitcoin that filled the void in the absence of its creator, Satoshi Nakamoto.
Satoshi was very clear with his vision for Bitcoin, releasing the Bitcoin Whitepaper as a guiding reference document for his protocol, as well as two years of very succinct answers to commonly held misconceptions, from 2009–2011, articulated in a way that was not left open to mere interpretation.
It’s probably prudent now to add another disclaimer that I am not affiliated in any way with any specific projects outside of the things I am building and releasing for my own companies. I proudly have exactly zero moral hazard. I have exactly zero conflict of interest. I am unaffiliated with ANY of the actors in the Bitcoin SV ecosystem. There are exactly zero people who knows who I am. Nobody has met me, nobody knows my voice, nobody funded me, I took donations from nobody, I have zero debts from anyone in the Bitcoin SV ecosystem, both figuratively and literally.
In the words of Winston Churchill, “Those that fail to learn from history are doomed to repeat it.” This post is the third response in the “Bitcoin Resolution Series” (see part one and part two) and is the continuation of reflections and suppositions about those who overcame social adversity, in a headwind of neo-Fabian Bitcoin narratives, in a coup to overthrow the defining tenets of Bitcoin.
Bitcoin SV is the resulting culmination of many years of a torrid and quite toxic civil war, as the socialist ‘divide and conquer’ playbook separates, segregates and disbands any creative process, leaving communities torn into shards, considerably weaker than the sum of their parts. Quite simply, BSV is the original Bitcoin protocol, as released by Satoshi with full functionality restored, flying in the face of detractors who voraciously chanted, “It can’t be done!”, with ulterior intent.
BSV is clearly an unopposed winner in the scaling wars of 2013–2018, which is no longer spoken about by other forks, as if it was all a bad dream. This inconvenient truth and 4 years of splits, hash wars and social sock-puppetry, defamation and targeted attacks upon individuals, projects and companies means that BSV still retains the strongest ambivalence from both supporters and detractors in the whole digital asset space.
The proverbial cat amongst the pigeons are strategically placed by detractors, by targeting and tarring social groups, political allegiances and individuals, rather than engaging in technical, sociological, game theoretic or economical debates. These public flogging events are the ridicule surrounding false narratives, perpetuated by the aforementioned in an attempt to retain social control, above all else, in a last ditch attempt at staying relevant whilst their fundamentals are broken beyond repair.
With Bitcoin being fully restored and its protocol being locked in stone, we can safely say that this is the “Resolution of the Bitcoin SV experiment”, as there is no longer doubt or uncertainty for application developers to innovate upon. We can finally close this chapter of Bitcoin’s history, taking essential notes about how all of this came about. Greed.
When a protocol includes such disparate interpretations of what consists as money, data, security, network, channels, broadcast, miners, central authorities; depending upon your own social and political viewpoints there can be a wide gamut of possible scenarios. This is why Bitcoin was released with a defining ruleset, to prevent these ambiguities sliding into the rainbow of interpretation, which leads to lobbying and crony capitalism for the incumbent projects with the best marketing, as opposed to the best solutions to solving the hardest problems.
Having 40,000+ altcoins all vying to capture Bitcoin’s network effect, thus value, is a road to being regulated out of existence before the Bitcoin experiment has had a chance to be used as originally intended. A single scalable network where anything you can imagine can be built, given the right tools. Altcoins are the white noise created by the preceding false narratives that have been propagated by VC interests whose incumbent systems fail completely if Bitcoin succeeds.
Most people arrived at their assumptions about how all of this works by happenstance and the marketing spiel of projects that appeal to their sentiments. It has bred a boom and bust market of cyclical, perpetual tokens to wash trade usage from one chain to another with little or no accountability. This is a laissez-faire attitude predicated upon the ideal of free markets, however the markets are not free, fair or anything approaching real.
The Wild West digital asset ecosystem was born out greed and opportunity, yet it spits in the face of every financial law we have in nearly every country. You don’t have to be Nostradamus to foresee how all of this ends.
Where Bitcoin is a vast ocean of opportunity, engineers like myself have spent many years understanding the nuances of the hidden functionality that Satoshi gave us. Satoshi gave us the plumbing and a rich set of blueprints. The protocols are the valves, taps, basins, faucets, drains, bends and pipes. The mundane, boring stuff that most people don’t need to understand how to put together. That doesn’t mean that the layperson can’t comprehend the important utility of having good plumbing.
Our job now, as builders, is to provide a great service so that we may grow our businesses, creating wealth by the time, energy and skill we produce and exchange upon a single global network. Plumbing is essential to deliver essential comforts that helps us improve and maintain our existence in a manner we have become accustomed. We go about our daily lives with complete disregard for it, until it stops working; then we panic.
We are the builders who will take these metaphorical tools and build out the Bitcoin equivalent to thermostats, manifolds, heat exchangers, boilers and flus. Building these next layer control systems on top of Bitcoin are just as important as the base layer. A new phase of competitive building has begun, but we must now hold ourselves accountable. Bitcoin can help us do this, so we must always try and resort to Bitcoin native whenever possible.
There is a huge market out there up for grabs. Just remember, that just like boilers and heat exchangers, markets will naturally gravitate to the most economical implementation. In my previous post, I spoke about the technical debt of Bitcoin’s supplementary layers. It is essential now that we don’t replace one closed saga with a new one, just because we didn’t give the things we are building enough forethought at the planning and build-out stage.
Let’s leave the quick and dirty developments for the dying altcoin market. We now have a solid ecosystem to build upon. Bitcoin deserves so much better. If we learn to come together once again and unify all of the wonderful applications being attempted on other chains, we can succeed by collaboration, partnerships, documenting, teaching and being a guiding light.
All we ever needed is a marketplace and the tooling to be publicly available for any application to port over to Bitcoin. There are multiple opportunities for a market explosion never before seen in history, but we have to decide this is what we all want, before those who are tearing us apart ruin this once-in-a-lifetime opportunity for everyone.
Bitcoin was one man’s vision for a better, borderless, distributed, inclusive economic system for globally exchanging value. Let’s do something novel. Let’s try it first.