iBankCoin
CAPS LOCK IS CRUISE CONTROL FOR AWESOME
Joined May 7, 2012
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What Does Unbounded Bitcoin Mean?

Humans evolved to develop language to describe our experiences and Science to describe all matters of the Universe.

However, there are a few concepts that still boggle the mind, e.g., exponential growth and unbounded scale. Our brains have difficulty processing the concepts exponential growth and unbounded scale.

This video example of Exponential Growth by Chris Martenson is worth watching as a warm up to the rest of this discussion:

If you can grasp the concept of exponential growth then you’re primed for a discussion on unbounded scale.

What does unbounded scale look like? Every grain of sand on Earth is a limited number. Every atom in the universe is a limited number. We don’t know how to conceive of the Infinite.

Now, I’ll say something that will be surprising. BSV is designed to operate at Unbounded scale. In a BSV powered world every flick of a light switch or liter of gas pumped, any transfer of value no matter how small, would be recorded on the BSV blockchain.

Bitcoin was designed to be unbounded with NO limits. Bitcoin was designed to grow exponentially with unbounded blocks.

Simply put, Bitcoin was designed to serve the entire world.

BSV is the protocol for the new Internet. We don’t measure the number of TCP packets processed worldwide. In 10 years we won’t measure BSV transactions either. At unbounded scale throughput will be a non issue.

This is the goal, and it’s a big one. There is a lot of work to be done.

But let’s assume for a moment we are living in this future and BSV is our single global digital ledger for the transfer of information and value.

What does that world look like?

  • BSV is processing billions of near zero fee transactions every 10 minutes.
  • You own your data. All of it.
  • Producers of valuable information are rewarded without middlemen. Incentives shift worldwide.
  • Fraud is no longer profitable. A global ledger leaves a trail of every criminal activity.
  • Due to volume your transactions are practically untraceable, but still visible.
  • The Fed is dead. Honest money means honest governments.
  • FUD and dishonesty are no longer profitable. Trust is restored.

In my humble opinion, humanity would evolve under these conditions. A global system to reward honest pay for an honest day’s work means humanity will be off to the races towards a new and brighter future.

Today, Money equals Power and we know absolute power corrupts absolutely. Example: our current financial system. This system has led to booms and busts. To an imbalance in work vs reward. To a system prone to increasing levels of fragility vs one that is strengthened with every transaction.

We must separate Power and Money.

We must destroy the modern day financial Ring of Gyges. Plato’s fable tells of a magic ring that makes the wearer invisible:

Suppose now that there were two such magic rings, and the just put on one of them and the unjust the other; no man can be imagined to be of such an iron nature that he would stand fast in justice. No man would keep his hands off what was not his own when he could safely take what he liked out of the market, or go into houses and lie with any one at his pleasure, or kill or release from prison whom he would, and in all respects be like a god among men.

Bitcoin acting as honest money resolves this dilemma.  No man can be invisible in his dealings with another on a global digital ledger. Privacy? Yes, but not invisible.

When Money equals Work then we rebalance the global system for the improvement of the human race. Let that sink in for a moment to get the impact of that statement.

Corruption is the lid on our global society. The check on corruption is honest money.

How do we get to honest money? Bitcoin at unbounded scale.

So why is there so much focus on BTC which doesn’t scale vs BSV which does scale?

To paraphrase Ron Paul when he was speaking about Gold:

“Because Bitcoin (gold) is honest money it is disliked by dishonest men”

Unbounded, Honest money is the invention of the century.

 

 

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One comment

  1. Mark

    Can bitcoin(SV) be unbounded if Satoshi Nakamoto is really Julian Assange and the DOJ is gearing up to liquidate his holdings through civil asset forfeiture?

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