Bitcoin: It’s two developmental stages…
The development of Bitcoin can be divided into two parts/phases, the first of which has just been completed.
Bitcoin is man-made & has a central starting point at the inception of the network on 3rd Jan 2009. It’s this starting point that discredits all cryptocurrencies because it is the central point of authority, control & influence. Money that has any form of central authority, control or influence is utterly worthless as money, which is why an extensive amount of time is required to dilute it. This is the first phase of Bitcoin that has just been completed.
Satoshi diluted the starting point as much as possible in order to provide it with as much credibility as possible. He did this by first releasing the Bitcoin White Paper on 31.Oct.2008, 2 months prior to starting the network. This was to provide a “reasonable” amount of time for the network to be started by someone else. After 2 months & 4 days, having provided a reasonable amount of time to others, he then started the network himself under a pseudonym. This pseudonym diluted the inception of the network down into two parts, The Author as Japanese & the White Paper as English. This implied that the author (distancing himself) was as far away from the release of the white paper as possible in a country that gave him as much credibility as possible (being highly developed, technologically advanced & politically neutral). It also provided a large enough population & a language barrier to assist with his identity remaining a mystery for a long enough period of time to let the Bitcoin network grow without the central point of authority, control or influence. It’s this neutral growth that is unique to the Bitcoin network that neither the U.S.A or Chinese gov can replicate overnight. It provides credibility & gives Bitcoin its fundamental value over any & all other networks.
Satoshi Nakamoto (CSW) created the software as open-source so that it was replicable & could be altered. To insure against changes to the protocol the “Tulip Trust” was created & contained 1,100,111 Bitcoin with the intention to wipe out all coins/chains that had been created with an alternative protocol during the time of decentralisation/dilution of the centralised starting point.
The time between the release of the White Paper on 31st October 2008 & the stipulated return of the Tulip Trust to Craig Wright on 1st January 2020 is 11yrs & 2 months. It’s this phase of the Bitcoin project that is dedicated to the dilution & decentralisation of the starting point, which is known as the “Tulip Period”
Decentralisation is a dynamic concept in comparison to centralisation which is a static state. This dynamic concept requires a number of considerations:
1st The chain of signatures was designed to decentralise control of the network by holding all creators/developers & users of the network to account so that no one would be able to do anything on the system that no one else would know about. This is why all anonymous systems such as BCH, Monero & Zcash etc have no value as money because anonymity centralises control — https://medium.com/@sirtoshitv/bitcoin-its-accountability-not-anonymity-that-protects-us-78ddf2bfd7e6
2nd The protocol was designed to be “set in stone” so that anyone & everyone could build upon it without the need for permission (permissionless network).
3rd The network was designed to scale for the entire market so that any & all could use it. If a network cannot scale/work for everyone it becomes a closed market & is of no use to anyone because an alternative system would have to be found. Scaling must be infinite because if new markets are not available then miners have nothing to compete for. They will then start taking market share off of one another and the system starts to centralise.
4th Competition. There must be competition between those who maintain the system or else collusion is the alternative, which creates a centralised system and money with no value (This is why other “consensus algorithms” POS/DPOS/Pre-mine/Hashgraph/Tangle/Lightning Network have no value as a monetary system).
5th A fixed supply is absolutely essential for decentralisation & neutrality otherwise it can simply be manipulated by a centralised authority.
6th A final consideration for decentralisation is the size & strength of the network. If the network is not large enough or strong enough to withstand/prevent a larger centralised power from gaining/taking control of it then can it be considered as “decentralised”? This is why decentralisation is a concept as it cannot be truly defined.
The 2nd era of Bitcoin in which we all now find ourselves is the creation of value. Value is derived from the development of the network through its Speed, Cost & Scale explained here — https://medium.com/@sirtoshitv/bitcoin-speed-cost-scale-b6dc8c13a8a5
The only protocol capable of achieving a neutral de-centralised network is the protocol that Satoshi Nakamoto designed & described in his White Paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. This protocol named Bitcoin Satoshi Vision is known as Bitcoinˢᵛ & has the ticker symbol (BSV).
To understand why the Satoshi Nakamoto’s Bitcoin protocol is known as Bitcoinˢᵛ & has the ticker symbol BSV read my Medium article titled: “Bitcoin: A Tail of Blockchain BTC/BCH/BSV” linked here — https://medium.com/@sirtoshitv/bitcoin-a-tail-of-blockchains-x3-eebb136457c7
Satoshi Nakamoto had a vision. That vision was Bitcoin. Bitcoin is Satoshi’s Vision. Bitcoin is BSV.
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