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Some people would argue that the BSV is truly the successor of the BTC, since the Bitcoin itself had many bugs and errors and Nakamoto did his best to fix them, with some help from early cypherpunks like Adam Back. I'm not sure if they refer to a successor as having the Satoshi word into a way of describing their crypto or even the utility purpose that, maybe Satoshi Nakomoto was intending to create. What are you going to read not only that you might have not saw it anywhere on the internet but also you might not think of it, mostly because "the vision" is not what you can possibly think and is not completely obvious in the white paper of the Bitcoin's creator.
To understand how Bitcoin hard-forked several times we should rewind what happened in the past. I am not going to describe in detail all the events, I'll just enumerate some of the important ones and talk a little bit about them, but if you are still interested in the full history of the Bitcoin you can simply check the Wikipedia or any other websites for that matter.
So lets dive in:
- The first "schism" of the Bitcoin blockchain happened on 1 August 2017 with Bitcoin Cash (BCH) when some of the investors and miners did not agree with the update for the Bitcoin's main network. The disagreement mostly rely on scalability problem that BTC developers could not solve it just by tampering the code and this way ruin Bitcoin's future, as it would not be Bitcoin anymore as Satoshi intended to be. In later years Bitcoin's Lightning Network upgraded successfully and a hard-fork did not happen as BCH investors were "worried". Bitcoin cash was promoted heavily by the investor and a Chinese bilionaire Jihan Wu, yeah a billionaire which is the owner of Bitmain who makes ASICs mining machines. They were calling previously the BCH: a Bitcoin Cash ABC (the ABC abbreviation comes from Adjustable Blocksize Cap) which split later on into Bitcoin Cash and eCash.
- On 24 October 2017 another Hard-fork was generated, and the Bitcoin Gold (BTG) appeared but this time the hard fork was done through BCH Network. The fork happened mostly because some of the miners could not literally mine Bitcoin or Bitcoin Cash for that matter when ASICs mining machines appeared in the mining industry. The BTG founders stated the reason for the split , that Bitcoin is no longer a cryptocurrency as Satoshi Nakamoto intended to be because it is now mined by the corporations, has no privacy in transactions and is still low in speed transfer. Just to be clear BTG suffered several times a 51% attack on it's network, and in my estimation was done for the profit alone by evil "actors".
- Then Bitcoin Satoshi Vision (BSV) came to light on 15 November 2018, when the Craig Steven Wright and billionaire Calvin Ayre, (yeah another bilionaire got involve here and you can imagine that this is not good sign) they promoted that the previous idea of Bitcoin Cash's developers was not Satoshi Nakamoto's only intention to increase the block size for faster transaction speeds and definitely not to change the core code of the network. Therefore they made a hard-fork on the BCH network making the BSV network.
- On 15 November 2020, another hard-fork split the BCH into BCHA or BCH ABC (Bitcoin cash ABC), and because of marketing reasons changed the name to eCASH (the same name as David Chaum gave to his privacy money concept idea when he release his white paper in 1983).
- There are also several other projects and/or hard-forks like Bitcoin Diamond (BCD), Bitcoin Private (BTCP) and Bitcoin Z (BTCZ) which have emerged, with the later to have it's own unique blockchain of which did not altered the Bitcoin code. I know that I posted this photo bellow before in the Ravencoin post but it shows how exactly are the properties of some famous blockchains and how developers decided to do with their coin, aka ICOs.
Now can you please explain to me (because I have a very hard time in understating what was in these peoples mind when they developed their new blockchains) how a "Satoshi Vision" would be known or can be described from a white paper written by Nakamoto himself? Even with these people, somehow understandable reasons, could not explain these fake "visions":
1) marketing reasons - wait what? How in the heck the Bitcoin's founder thought of his "electronic baby" to be a marketing tool? The "Bitcoin Jesus" and the Chinese billionaire (Jihan Wu) never ever understood this vision when they hard-forked Bitcoin Cash ABC and later on changed the name in eCASH for simple marketing reasons.
2) the true vision - how in the freaking H**l anybody would know how or what Satoshi's Vision would be like just by interpreting in their own way Bitcoin founder's white paper? Hmm... what? Or how would you even possibly know that Satoshi's actual intent was to re-establish his creation at that point in time, before update and not mention to increase the block size? That's nuts! Did Satoshi himself said: "hey guys I had a vision when I made the Bitcoin but now I see that people misinterpret it and it would be a good time to change the block size", duh... NO?!
(initial coin offering) - when did Satoshi Nakamoto give ANY pre-mined or fork-drop some coins to any Bitcoin network users? That's even more crazier! If you look to the banner up some coins were pre-mined and some fork-dropped, in some cases like BCH, BTG and BSV gave 1 coin per user and in eCash's case 1,000,000 coin per user as well. Does this sounds like "Satoshi Vision" to you? Not to mention that the other BCD and BTCP (Bitcoin Diamond and Bitcoin Private) developers did the same things, with one exception that is BTCZ (Bitcoin Z).
So does the Bitcoin Satoshi Vision (BSV) is truly the successor of the Bitcoin and a true monetary system conceptualised by Satoshi himself, as the BSV founders claim to be? The BSV is mined only with the ASICs so how far does this "Vision" is suppose to go, when Nakamoto was only thinking of CPU mining?! See what I mean?
As far as I can see this "Vision", was to only DISRUPT A CORUPTED FINANCIAL SYSTEM BY GIVING THE BACK POWER TO INDIVIDUALS IN ORDER TO CREATE THEIR OWN MEDIUM OF EXCHANGE THROUGH MINING! And without any evil intentions, ICO, marketing purpose or even fame, Satoshi Nakamoto created the "old buddy" Bitcoin. The Ideology of the concept was great but not even Satoshi himself could not knew how the future technology will evolve and how the community will interfere in his creation. These people that made different blockchains from the Bitcoin code wanted either fame or banks paper money, which Satoshi wanted to prevent it or stop it (except the BTCZ, maybe).
And to conclude this post, the Satoshi's Vision is just a wild interpretation of some people's absurd dreams of getting wealthy faster or (if they were already rich) to become even more richer beyond imagination, nothing else, no true altruistic intentions here... nothing but pure profit...
