Bitcoin (BSV) Overview

Bitcoin is the world’s first unchangeable public database. The unique properties of this database allow for it to trustlessly send value over the internet without reliance on any third parties. This trustless-value property has been widely understood by technologists and early adopters since bitcoin’s release in 2009. However, an unchangeable public database can be used to do much more. Bitcoin as BSV is focused on realizing the additional unbounded potential use cases of this revolutionary technology.

From micropayments to enhanced online privacy to data ownership to trustless and permanent data storage and beyond, the building blocks provided by BSV will enable the next wave of internet entrepreneurship. BSV is, and will continue on to become, much more than just the winner of the cryptocurrency ecosystem; BSV will become a foundation for the future of the internet.

For a technical explanation read the bitcoin whitepaper.

Watch Our Bitcoin Explainer Video Series

BSV is the Only Complete Blockchain System

Unowned: By having no owner, BSV is not tied to the success of any one business. Further, there is no entity that can bar, delete, or alter content, making it a public system. This is in contrast to a network like Hyperledger, which is used to create private blockchains.

Proof-of-Work: Proof-of-Work brings accountability and competition to network operators. Alternatives like Proof-of-Stake, the desired outcome of ETH 2.0, provide neither.

UTxO: In UTxO systems, ordering is explicit which is key to scalability. Legacy account-based systems like Ethereum will not be able to scale to the degree that a UTxO system can. 

Stable: BSV is oriented around a stable protocol giving business a solid foundation. Most other blockchain networks treat protocol like software, adding cost and complexity.

Extensible: BSV comes with a scripting language that can be used for smart contracting and computation. Other Bitcoin forks, most notably BTC, have removed this functionality.

Compliant: BSV's transparency makes compliant use of the network simple. Most other blockchain networks seek to remove transparency making compliance extremely difficult.

Scalable: Only BSV is built for long-term scale. Its technical UTxO design and the economic system of Proof-of-Work provide the structure and incentive to scale. Other blockchains have structural errors and other Bitcoin forks, like BTC, are intentionally limited and have introduced structural errors.

Forth: BSVs scripting language is based on Forth, A Forth-based language is necessary for Bitcoin's economic design and will facilitate long-term use in embedded devices and ASICs.

Learn more in our 5 PART ESSAY SERIES

“What” is going on?: Fractals and Contrarian Consensus

This essay (part I) attempts to answer how we found ourselves in this situation where general crypto consensus appears at odds with reality.

“Where” is the problem?: BTC, Small Blocks, and Lightning Network

This essay (part II) looks into this hidden reality and outlines potential problems with crypto consensus that are largely unaccounted for, and as a result, not appropriately reflected in the price of assets.

“Why” BSV?: Darwinian Fitness and Irrational Markets

This section of this essay (part III) explores the mechanics of forking and investigates what it means for the investor. It also investigates possible investment theses and hedging approaches that stem from forking. On a high level it attempts to introduce a useful crypto-relevant heuristic via simple biological analogy.

“How” did we elect thought leaders?: Complexity’s Preference for Genius over Excellence

This essay (part IV) is a high level look into how we arrived at our crypto consensus. What methodology and epistemology are implicit in this process? Did we actively decide to use these tools? Are they the best tools for the job?

“When” to make an investment: A Conclusion

This essay (part V) is a conclusion. What is the take away of the series? Where can we look to continue this exploration?

Why is the Crypto Consensus mistaken?

For our explanation of why and how the majority of the cryptocurrency consensus is mistaken about the value of bitcoin download our free ebook.