Bryan Daugherty (BSV Blockchain Public Affairs Director – Americas) highlights the flaws in crypto asset regulation as well as the growing need for Digital Asset Recovery.
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The following are three points I stand by:
1. BSV is the original Bitcoin and the only genuine Bitcoin if measured by the Satoshi Nakamoto protocol.
This is a fact, not a mere argument. The fact can be checked strictly because the protocols are all transparent and public and can be compared against each other.
The merits of each protocol can be debated (see below), but which one is the original protocol is not. Claiming otherwise is dishonest. Intentionally misleading others (even a judge) by gaslighting is even worse. Please just say, "We don't like Satoshi's protocol. We want something different." It is all right to be different from Satoshi. He is a mere human. There's no law that requires one to stick with him or his protocol.
However, it is not right to distort what Satoshi said and did, because that's factual.
2. Only the original Bitcoin protocol according to Satoshi is scalable, both economically and technologically.
This is harder to see, but the conclusion is not only based on sound technical reasoning based on how systems scale but also on actual empirical experiments.
If you disagree, show your reasoning and data. I can show you mine. In fact, I wrote a book on this. See the link below.
I respect those who want a different Bitcoin, especially those who want their version of Bitcoin to fight against the problem of central bank-supported fiat currencies because I share the same goal. But they are wrong in not seeing that BTC's version will not achieve that goal due to its lack of economic and technological foundations.
Don't be misled by a temporary success pumped by human psychological powers rather than objective economic and technological ones.
3. Only the true Proof of Work (PoW) according to Satoshi can achieve real disintermediation and decentralization.
Proof of Work (PoW) works because it's the only way to prove honesty in a system, as work is the only thing that cannot be hacked. PoW requires proof of ongoing honest work, not just past investment, which incentivizes continuous honesty. This is essential because it avoids the pitfalls of Proof of Stake (PoS), which relies on past accumulation as the only (fake) indicator of honesty, creates an incentive for dishonesty, and disincentivizes innovation and productivity. PoS is a path to digital feudalism.
PoW works by directly linking effort to economic reward, unlike other systems that rely on potentially manipulable policies. This direct connection between work and reward is crucial because it ensures that increased demand leads to increased effort and technological innovation, leading to a system that automatically adjusts to meet the required amount of work.
In addition, PoW works because it has an inherent element of waste and imposes it as a natural penalty for unsuccessful attempts (honest or not). It works as a natural economic discipline.
More:
BIT & COIN: Merging Digitality and Physicality (https://t.co/GfkMqqJwya)
Congratulations to Dr. Owen Vaughan @DrOVaughan of nChain for his work on Universal Blockchain Assets (UBA).
In the article linked below, I provide a broader perspective of tokenization, explain the essence and scope of UBA, and compare it with Tokenized (@Tokenized_com) and STAS.
And I predict a paradoxical result with the development of UBA:
UBA is created to be inclusive of all blockchains, but it will ultimately unify the blockchain world into one blockchain.
Universal Blockchain Assets https://t.co/GP1WGFPGCc
My take on last week's @LDN_Blockchain conference... 👎to the venue but👍to @UPlastic_ for an exciting business model which should be the start of something big: https://t.co/26vYPiARXg
Join us at London Blockchain (@LDN_Blockchain) to learn more about how Centi App intends to empower unbanked and underbanked persons and more. Thank you @RebeccaLiggero for this write-up about @ChCenti!
https://t.co/efZl2cfE1T
In contrast to a corrupt future of the world exploited by crypto, the real Bitcoin blockchain is creating a different one.
I like this future better than the one crypto is leading to:
The future of blockchain https://t.co/SZdM5iKMfP
Join Kurt live with Robert Rice, Founder of Omniscape today at 2 pm EST. 🎙️
@OmniscapeXr is the first Metaverse platform to link physical to virtual & seamlessly blend AR & VR!
Set reminder & Drop questions here: https://t.co/FljFmPWyxe
The message I am preaching: A New Internet based on IPv6 integrated with a vastly scalable blockchain (TPS beyond millions) with an extremely low cost of transaction (CoT) is within our reach if enough people wake up to it.
The world needs it.
A nonproductive blockchain can't solve the fiat problem https://t.co/Xf0fkNTvDO
This is happening. Lots of firsts here and more to come. @omniscapexr is doing some amazing things with mobile, AR, location, #nfts, digital collectibles, and more with metaverse tech. Your brand, your content, anywhere in the world to engage fans and customers in new ways. Cant wait to show you what is coming this summer!