SCAM: Bitcoin SV (BSV) - fake team member and plagiarized white paper

[Procaius]

19 million transactions on BSV blockchain on Dec 16th, 2023.

https://whatsonchain.com/compare-stats?comparisonType1=total_tx_count&comparisonType2=tx_count&days=90

BSV Terranode is processing millions of TPS now.  That's scaling.

OK, setting aside the entire debate about the inherent centralization risks imposed by BSV's scaling model, what good does scaling do for a coin if nobody wants to use it?

Fair enough, for now, but what happens after this upcoming halving or next halving when the BTC blockchain reward isn't large enough to convince financially savvy miners to continue hashing when their mining costs exceed their rewards?  Sooner than later it's going to happen.  Transaction fees must replace rewards as the means of sustaining the security model.  How large do these fees need to become on BTC at only 7 tps???

[nutildah]

Do me a favor and just do 1 reply at a time, or combine multiple thoughts into 1 post, otherwise your secondary posts may be deleted by moderators.

Fair enough, for now, but what happens after this upcoming halving or next halving when the BTC blockchain reward isn't large enough to convince financially savvy miners to continue hashing when their mining costs exceed their rewards?  Sooner than later it's going to happen.  Transaction fees must replace rewards as the means of sustaining the security model.  How large do these fees need to become on BTC at only 7 tps???

This doesn't have anything to do with BSV. But to answer your question, we'll have to wait and see as its an unprecedented issue. For the next couple of decades I think it will be a non-problem. The current hash rate for BTC is incredibly high. Its fine if it drops a couple orders of magnitude; Bitcoin will still be the most secure blockchain several times over. All other PoW coins combined don't come close to matching the security of its chain.

[Procaius]

Do me a favor and just do 1 reply at a time, or combine multiple thoughts into 1 post, otherwise your secondary posts may be deleted by moderators.

Fair enough, for now, but what happens after this upcoming halving or next halving when the BTC blockchain reward isn't large enough to convince financially savvy miners to continue hashing when their mining costs exceed their rewards?  Sooner than later it's going to happen.  Transaction fees must replace rewards as the means of sustaining the security model.  How large do these fees need to become on BTC at only 7 tps???

This doesn't have anything to do with BSV. But to answer your question, we'll have to wait and see as its an unprecedented issue. For the next couple of decades I think it will be a non-problem. The current hash rate for BTC is incredibly high. Its fine if it drops a couple orders of magnitude; Bitcoin will still be the most secure blockchain several times over. All other PoW coins combined don't come close to matching the security of its chain.

Thank you for not mentioning Lightning Network as the solution.  It's a security weak bandaid.

https://www.investopedia.com/tech/bitcoin-lightning-network-problems/

[Kavelj22]

https://www.judiciary.uk/wp-content/uploads/2024/05/COPA-v-Wright-Judgment.pdf

Last May 20, a British court issued a 230-page memorandum proving, with arguments and evidence, that all the allegations that CRAIG WRIGHT sought to promote over the past years were false in an attempt to prove that he was the designer of Bitcoin and the inventor of the name “Satoshi Nakamoto.” The case was presented by a group of specialized researchers, and the trial lasted five weeks before the court issued its final decision invalidating all of CRAIG’s claims, despite all the defense team’s attempts to prove them.

The point that made me laugh and amaze me at the same time is that among the arguments used by the defense lawyers was that if someone else had worked on designing Bitcoin, he would certainly have appeared in his defense, which is an argument that I find extremely ridiculous and indicates the defense team’s lack of knowledge.

[Procaius]

My hopium was blasted to smithereens.   I still think BSV is superior.

[nutildah]

https://www.judiciary.uk/wp-content/uploads/2024/05/COPA-v-Wright-Judgment.pdf

This is probably the most comprehensive document to detail Faketoshi's blunders yet. I feel compelled to read the whole thing but will have to settle for chunks at a time. Thanks for sharing this.

Here's some snippets where the judge explains why he concludes Faketoshi is not Satoshi, which are concise & hard to disagree with:

Satoshi would be most unlikely to have any real difficulty in proving he was Satoshi.
...
I do not believe that Satoshi would ever have resorted to forgery in his attempt to prove he was Satoshi.
...
the contemporaneous materials written by Satoshi, including the White Paper, the posts and his email exchanges with individuals, convey an impression of a calm, knowledgeable, collaborative, precise person with little or no arrogance, willing to acknowledge and implement ideas and suggestions from others who had shown an interest in Bitcoin.
...
due to his collaborative and non-confrontational nature, I consider it is most unlikely that Satoshi would ever have resorted to litigation against the Developers.

My hopium was blasted to smithereens.   I still think BSV is superior.

That's fine. However, you must concede that this take aged poorly:

Craig is going to win this COPA trial and there's going to be a lot of cope here.  

BSV down 6% in a week when almost everything else is up.

[Procaius]

Oh trust me, I know, I'm eating crow over here.

[Timelord2067]

My hopium was blasted to smithereens.   I still think BSV is superior.

Weren't the smithereens a footnote pub band in the late 1980's

In any event - @Kavelj22 the cornerstone concepts of the blockchain couldn't be explained by the modern day Anastasia.

[cryptodevil]

My hopium was blasted to smithereens.   I still think BSV is superior.

Asides from the argument against block bloat, why would a coin network which allows for your coins to be 'seized' through edict issued by companies and organisations founded by its criminal creator, be considered as 'superior'?

And don't quote the asinine claim that for a currency to be 'legit' it has to conform to 'the law', because Bitcoin is a global network with no central authority and no single jurisdiction 'the law' could even be based on. What would be legal in one country is illegal in another.

BSV's 'coin seizure' function is anathema to EVERYTHING the real Satoshi envisioned and if you don't know that then you clearly don't know anything about Bitcoin's intentional design. This was just Craig's attempt to keep spinning his false narrative to constantly have a product to sell to Calvin 'Soon™' which would result in them stealing the forked Satoshi coins and the '1Feex' etc addresses he never owned and he convinced his ayrehead mark that it would then serve as precedent for yet more court adventures to attempt same on the BTC network for the grand prize.

It was an attempted heist put together by a word-salad spouting confident idiot and his moronic mark. That's the whole purpose of everything Craig did with BSV from the moment he forked Bitcoin.

[Procaius]

Millions of TPS that cost a fraction of cent vs 7 TPS that cost what $30 each?  What's not superior about it?  NFTs stored on chain?  The list is long.

[nutildah]

Millions of TPS that cost a fraction of cent vs 7 TPS that cost what $30 each?  What's not superior about it?  NFTs stored on chain?  The list is long.

C'mon man, you're not really trying to be reasonable here. You're ignoring valid concerns to regurgitate stale talking points.

- Priority fee for next block inclusion for a BTC transaction is currently under $1. Not a whole lot to ask to transact on the world's more popular, widely-adopted & secure cryptocurrency network.
- NFTs have been stored on-chain on Bitcoin since 2015; now more than ever b/c of ordinals inscriptions.

Not to mention you completely ignored the point that BSV transactions can be reversed & coin ownership can be reassigned at the whims of a central authority. That alone completely undermines the ethos of what Bitcoin is supposed to be about.

BSV has been and always will be a joke. You got conned by professional con artists. Once you accept this, you'll feel a newfound peace with things.

[xtraelv]

Millions of TPS that cost a fraction of cent vs 7 TPS that cost what $30 each?  What's not superior about it?  NFTs stored on chain?  The list is long.

There is no need for mining or using Bitcoin code to achieve a network that can be rolled back by a central authority that does millions of TPS.
Anyone can just start a centralised server that does that for a fraction of the cost and that will be more secure.

The only reason Bitcoin needs proof of work is to provide immutability and decentralization. BSV offers neither. BSV is a total waste of resources.