/biz/ - Business & Finance

>>15282077
haha i read that website and it immediatly has all the signs that triggers the "its another mental ward idiot" flags. just like this jurgen debo weirdo from belgium. seriously the only legit fucking freak is Craig, his level of autism is """mild""" compared to all these other mental defuncts running around.

/saged

How serious is the competition?
Regarding Utility BTC gets outperformed – which is not too hard given its current state: BSV tackles BTC’s root problem, the blocksize limit where it even aims for a complete removal alltogether. nChain recently proved in its testnet to be capable to handle blocks as large as 1GB and announced to aim for the Terrabyte range in 2020. Therefore, BSV can scale, and a use case as electronic cash is upheld. The scaling is with the sole intent that miners can live off the transactions fees and are not dependent on the block reward. Therefore it’s is not doomed by a design flaw as BTC and derivates of it (e.g. Litecoin) are. It can be judged that this is a sound idea and also follows what Satoshi initially envisioned.

Even more than that, BSV intends not only to store cryptocurrency transactions on the blockchain but also all sorts of data, including tax and business documents. Their vision is to issue utility and identity tokens along side tokenized financial instruments and to couple that with a system of Smart Contracts on a second layer named MetaNet. In a recent paper Wright claimed to have achieved Turing Completness in Bitcoin Script, which can make those on BSV a reality. Given BSV’s scalability, the Smart Contracts use case might one day even supersede Ethereum on this, as ETH has shown over and over again that is not only unable to scale but also incapable to sustain DApp’s with more than a couple of thousand users simultaneously. As BSV would store and absorb everything on one giant blockchain, the need for external oracles services like the one’s proposed by Chainlink (that currently have the best proposal to tackle the oracle problem) would disappear as well.