“Bitcoin SV jumps over 25% on the day as investor confidence sores on bitcoin’s ability to scale on chain!”
“Investors flock to Bitcoin SV as scaling debate comes to a close!”
“Record bitcoin block mined calling a decade of bitcoin ‘expertise’ into question,”
“Bitcoin ‘experts’ all wrong? Bitcoin SV mines ‘impossibly’ sized block.”
Where can you see these headlines?! Basically nowhere, and here’s why:
If the mainstream crypto media was unbiased and cared about reporting the superlatives occurring in the whole of the blockchain industry, these would have been the headlines first thing Monday morning. A new world record was crushed while the price of BSV surged 25%!!!
So why didn’t CoinDesk, Cointelegraph, Decrypt, Bitcoinist or anyone else point out that a world record was broken?
Well, CoinDesk is a spin-off media entity of Digital Currency Group which is an entity created by Mastercard and other old world financial titans to invest in BTC startups like Blockstream, Lightning Labs, Coinbase, Kraken, BitGo and many other big name brands in the space. So, under the auspices of being the official media outlet for blockchain news, CoinDesk merely reports propaganda with at least some pressure to bolster the Digital Currency Group portfolio. And rather than reporting fairly on everything noteworthy, they suppress information about the most superlative implementation of the bitcoin protocol even amid the setting of the new high-water mark for on-chain mining. The other publications largely follow CoinDesk’s lead, and ignore the revolutionary work being done anywhere outside of their narrow narratives, and so there was no obvious mention of the news across the media.
But make no mistake, this weekend, Bitcoin SV broke a world record by nearly TWENTY TIMES the size that could even be attempted by the next most efficient blockchain for such things! What did the other media outlets report about instead?
So what happened?
On Saturday, users of the Bitcoin SV blockchain coordinated with the honest nodes of the network to break the world record for largest block mined on a Bitcoin network with SHA256 proof of work from a public mempool. Surrounded by lots of other blocks impossible to mine on any other network, the largest block of the day was over 638 megabytes of large chunks of data including micropayments and larger individual files like high resolution photographs. In May of 2020, a 369MB block full of over a million, simple payment transactions was successfully mined on the network—showing BSV’s ability to outpace Visa in global payment volume.
This weekend’s block was aimed at showing another key differentiator of the network.
No other blockchain network allows the use of transactions to upload large or complex data to the blockchain. The advocates of Bitcoin SV believe strongly in the need for a digital Library of Alexandria where simple things like photos or complex things like operating systems or gigantic applications can be pushed in transactions so that the network can create interoperability between money and data in ways that are only possible because of the power of the unbounded Bitcoin protocol.
It is our belief that everything of value will become exponentially more valuable when it is allowed to cooperate on a value-transfer network with every other thing of value—creating an incredible opportunity in the future of data and finance!
The fact that no other publication is interested in the revolutionary fusion of data and money on a network guided purely by incentives is astounding—and sad. Amid pressures of censorship, political strife and unprecedented printing of money, all other media are focused on price action. Meanwhile, the limits of the Bitcoin protocol are being tested ferociously by a diverse group of ideologically-driven bitcoiners who believe that Satoshi Nakamoto gave the world a fundamentally good thing in 2008. We…