The signed possibilities with Bitcoin SV
You now have possibilities that was not universally possible worldwide before Bitcoin. Unlimited scaling of transactions with immutable signed data; will make the world a lot better than what it currently is.
In this article Bitcoin SV is referred to as Bitcoin.
This article was first published on the blockchain: https://www.bitpaste.app/tx/db2117992351abd0d9004b393ae41473bbf07e775166865c707e305496c1546c
In order to be able to pay for (the last part) or tip this article, you’ll need a moneybutton.com account. The account is a Bitcoin wallet that contains Bitcoin (money) that someone or yourself has signed to it.
The MoneyButton wallet is a full non-custodial wallet that you secure on your own with a password and you are responsible for keeping your mnemonic (seed/passphrase) safe from anyone else.
You can have as many wallets you’d like with Bitcoin, so you can generate more wallets with other services/apps/programs or more MoneyButton wallets. Your wallet will forever be safe as long as you keep the mnemonic and password to yourself only.
You must never screenshot your mnemonic, never make it visible to anyone, in part or full. If anyone sees your mnemonic, they can with no problems steal all your funds (forever) on that specific wallet. If you ever loose access to a mnemonic in such a way that someone might have seen it or someone might be able to see it in the future, you must generate a NEW wallet and TRANSFER all current funds to the NEW wallet. Never use the compromised wallet again.
So keep your mnemonic (and password) securely stored somewhere YOU ONLY have access to it, then you won’t be needing to change your wallet for the foreseeable future (never).
It is also your identity, future income (this article) & your proof of ownership for any material you publish or have earlier signed on the blockchain with that wallet. Whoever gains access to your mnemonic can also forever empty the wallet for funds and in worst case steal ownership of data in ways such as signing over assets (if the third party service allows this) to new wallets/owners.
With real life assets, this will be mitigated by rule of law. So no one will be able to sign over your house if your wallet is compromised, but they can create havoc and basically do identity theft in a whole new way than before.
The key to avoid identity theft is to have a government co-signed wallet you are using with Bitcoin. This means, you can use any wallet for services that does NOT need government ID, but optionally (or mandatory) one wallet (voluntary which one, as long as it’s Bitcoin); you go down to the government, identify yourself as the citizen you are on their government system, after identity has been verified, you proceed to co-sign your chosen wallet with your identity.
Now you have a wallet/ID that can be used for bank level clearance, start a business, register taxes & other services that requires to know EXACTLY who you are.
If you ever loose (or suspect lost access) to your mnemonic for that government co-signed wallet, you can go to government again and identify yourself as the citizen you are and co-sign a NEW wallet to your ID. All previous signatures for ownership of properties, businesses, etc will be signed over to the NEW wallet.
This is what Bitcoin will come to be in near future.
You can simultaneously use any other wallet for services such as online shopping mediums, social media accounts and other similar lower level services.
You can continue to read the rest of the article (paywall), but if you don’t have the resources you can follow me on twitter.com/vegardwikeby or search for the future services I am on (or was on) if you are reading this article far into the future.
Regards, Vegard Wikeby
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