Read this to get redpilled on why Bitcoin SV is the true Bitcoin.
Someone recently asked me in PM to redpill them about why BSV is the real Bitcoin, and here is my response below. This is now an informative sticky post on /r/bitcoincashSV:
Ok, well Core obviously can't be bitcoin, it has segwit which has a whole host of problems, along with a strangled 1MB cap on block size. The fees got outrageous and they basically destroyed adoption and set back Bitcoin adoption by years.
So we forked off with BCH to preserve the original vision of Satoshi. I was on the front lines as one of the first pushing the idea of a split to preserve the ledger if segwit ever activated. Segwit is horrible because it breaks the chain of signatures and the definition of Bitcoin in the whitepaper as explained here by Peter Rizun. It has a lot of other problems too introduced by the kludge code as well, like the "anyonecanspend" vulnerability, as well as enhancing other problems that already exist with P2SH. It causes problems with validationless mining.. It is a nightmare. Some are even saying there is a critical bug in segwit that will be revealed this year, including a mysterious warning post by Satoshi on twitter. Core wanted to shove segwit down our throats, and said we could never have big blocks, so we went off on BCH to follow Satoshi's vision.
Unfortunately during the split, the ABC group somehow thought they are the boss dictators of a decentralized project. We endured things for a while, and were able to stave off some of their radical change proposals. But now they have crossed the line with radical changes that break and damage the system. The whole split with ABC and BSV happened when Amaury said he would take actions to irritate many, by prioritizing "pre-consensus". Basically they are moving away from POW and Satoshi's design of Nakamoto Consensus to a new design called "avalanche", which is more similar to POS. They even added centralized checkpoints and 10 block reorg protection during the split, meaning the ABC chain is completely centralized. Deadalnix the lead ABC dev is even planning to add segwit malfix to BCH when the entire split with Core happened because of segwit. The guy even refers to himself as a shitlord dictator. They said that they own the ticker and they don't even care about miner vote, or the white paper, or Nakamoto Consensus.
BSV had 80-90% of the hash power leading to the fork. Here is a post showing they had over 85% hash rate supporting SV. Then Roger and others rented hash to 51% attack the chain. Here is Roger on Twitter bragging that he is moving his pool hash for the 51% attack. They are using censorship and propaganda as well. For example I was a huge contributor to /r/btc starting Tipping Tuesday giving thousands of dollars worth of BCH to newbs and promoting their sub, and I was the #5 biggest tipper, and the most frequent tipper of all time according to bitcoin.com, and I was banned because I support SV, even when they complain about /r/bitcoin censorship and claim they allow free speech, they are liars and hypocrites. There are even lawsuits against them over the 51% attack.
ABC is not Bitcoin at all, they also refuse to raise the blocksize limit the same as Core and they are stuck at 32MB. They said 22MB was the maximum possible, but now BSV proved them wrong by mining a 103MB block, a world record. If we want Bitcoin to be sound money for the world we have to build giant capacity now. We need to solve the "Fidelity Problem" as described by Jeff Garzik. The block reward is running out and we must sustain ourselves on fees over time or the system fails. We need to show the world the huge capacity we can handle, so giant companies and institutions, and central banks will build their tokens on our blockchain. This is how we spread Bitcoin to the world. Fiat tokens issued by central banks on BSV is one of the stepping stones to worldwide adoption.
The ABC community wants to change to a POS model, or have a dictator, or have social consensus to decide governance. Some of them even say it is ok to increase the 21 million cap using social consensus. I don't believe such governance mechanisms will work, they lead to oligarchy and corruption, and tyranny. We couldn't have such governance or democratic voting decide the properties of gold, and the properties of Bitcoin should not be changed easily either. If we want sound money we need a stable protocol and not a protocol that forks and changes things every 6 months like ABC does. They also have other problems in their roadmap like merklix trees, which introduce more vulnerabilities over time. Nobody wants to build on a chain that is constantly changing, and nobody can trust it as sound money. Only POW governance will work, as nChain's paper explains other systems degrade to oligarchy. This was Satoshi's design.
Bitcoin is a very clever economic and game theoretic incentive system, and these young naive developers are trying to mess with a system that they do not understand. Most people do not understand these things, so the market is having trouble discerning the true Bitcoin. Over time as we scale, it will be clear. We are lucky that we have been able to preserve Satoshi's vision and design with BitcoinSV, it is the one and true Bitcoin. At the end of the day they can steal the ticker and use propaganda and dirty tricks, but it is not so easy to stop the Honey Badger in the long term. We will go on to spread sound money and economic freedom worldwide. Come join us http://www.reddit.com/r/bitcoincashSV
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