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What is Bitcoin?

What is Bitcoin?

When someone asks this question, it is important to clarify that “a Bitcoin”, the “Bitcoin Protocol”, the “Bitcoin Blockchain” and the “Bitcoin Ticker Symbol (BSV)” are commonly used interchangeably to answer the question, but they are indeed separate and unique things.

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Who are Miners and Why are They Important to Bitcoin’s Design?

Bitcoin’s true genius is more in its economic design than in any technical innovation. To create a payment system where participants do not have to rely an intermediary (such as a bank or payment processor) to facilitate transactions while also preventing “double-spending” of coins, Bitcoin had to create an incentive for multiple nodes in a network to maintain a copy of the same transaction ledger – so that network participants do not have to depend on any single keeper of the ledger. Bitcoin’s solution was for “miners” to provide computing power to keep a validated public history of the transactions.

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Protocols vs Ticker Symbols

Protocols vs Ticker Symbols

“The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.”Satoshi Nakamoto - The Bitcoin White Paper

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Protocol Comparison

Protocol Comparison

“The existing Visa credit card network processes about 15 million internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling.”Satoshi Nakamoto (April 2009)

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Independence Day

Since its rebirth in 2018, Bitcoin SV has built a reputation as the only blockchain project with a regulation-friendly platform and a massive scaling roadmap to support global businesses.

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