Bitcoin: Speed, Cost & Scale
Bitcoin is commodity money, which means its value is derived from an initial use case. If Bitcoin was purely “A Peer-To-Peer Electronic Cash System” as stated in the white paper then its value would be perceived, which would lead to massive speculation and huge volatility in its price that would undermine its use as cash.
The fundamental value of Bitcoin comes from the technology behind Bitcoin, which is Blockchain. Blockchain is the process of making digital data immutable & this is the commodity that is only possible with the use of Bitcoin. Because the amount of immutable digital data available is unlimited, Bitcoin gets its value from the speed at which data can be uploaded, the cost at which data can be uploaded & the scale/volume of data that can be uploaded to its Blockchain.
This is why every & all effort on behalf of the investors in the network (the miners/payment processors) are put towards improving speed, cost & scale. The reason investors put their efforts toward these 3x things is that the reward for the services they provide is in Bitcoin itself.
Speed — is essential for the efficiency
Cost- is essential for cost efficiency/savings & value.
Scale — is essential for utility/Incentive
All these three indicators listed above are ways to measure the value of the network, which is the potential the system has.
To work out the potential the system has then the required size of the market to measure it against needs to be known. In the case of Bitcoin the size of the worlds largest monetary market is that of the derivatives market that is estimated to be anywhere between $800Tr & $1 Quadrillion Dollars which in my estimated lifetime places the value of Bitcoin at around $40 Million per Bitcoin (BSV).
The only protocol capable of achieving a market capitalization equal to the world derivatives market is 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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