The word ‘bitcoin’ was created with the publication of the ‘White
Paper’ in 2009. As the software was released as open-source, any
competent developer could make changes to that code and release
this as a new protocol – typically called a new ‘coin’ or crypto asset.
The developer or the community could use any word to describe
that new crypto asset – and early ones were LiteCoin, Dash,
Ethereum etc. These new coins were typically distinguished from
Bitcoin by the feature differences they had from ‘the original bitcoin’.
Logically the version of the code that is closest in form to the
original design and codebase has the strongest claim on the word
‘bitcoin’. It is clearly evident from an examination of the
Bitcoin SV code base that it is the most similar to the original design
and codebase to Satoshi’s original vision.
Bitcoin Satoshi Vision was created to restore the original Bitcoin
protocol , keep it stable and enable it to massively scale. It is built on
4 pillars:
STABLE
Restoring the original Bitcoin protocol and fixing it in
stone to provide certainty
SCALABLE
Removing the artificial initial cap on block size
enables the increased diversity of transactions which businesses
want to perform. The Bitcoin SV network has been stress-tested at
volumes that exceed the global credit card networks
SECURE
Legally-binding digital certificates in every block
INSTANT
Unlike BTC, it is not possible to
fraudulently double-spend transactions.
The word ‘bitcoin’ is not trademarked, and hence can be freely used
by any person or organization without requiring approval from any
person or organization. Craig Wright has been legally recognized by
the US Patent Office as the author and has copyright on the Bitcoin
White Paper of 2009, and he has explicitly provided Centbee with
permission to use the word ‘Bitcoin’.
Privacy, anonymity and regulation
The Bitcoin SV community and developer ecosystem is committed to
compliance with laws and regulations. Whilst many of the crypto-
asset projects like Bitcoin Core (BTC) are trying to create
anonymous systems to obscure the nature and source of funds
flowing in cryptocurrency transactions, those projects will have a
hard time staying compliant with global laws combatting money
laundering and terrorist financing. We believe that anonymity in
financial transactions will only serve criminals, and we agree with
Satoshi’s Vision of a crypto asset that is ‘pseudonymous’. This
means that your transactions are private, but not anonymous, so
that an investigating party, such as a forensic team, can trace funds
- which will decrease fraud and corruption in the world.
