Glenn Sakristan 8262@my2cents.io
Glenn Sakristan [email protected] 2 minutes reading from Bitcoin

The History of Bitcoin History!

Bitcoin History! (A thread)

BTC BCH BSV Bitcoin BSVBlockchain Blockchain Web3

The Bitcoin white paper defines an electronic coin as a chain of digital signatures.

The protocol change, an introduction of Segregated Witnesses (SegWit), would break that chain of digital signatures,

making it unacceptable to those who wished for Bitcoin to maintain its core design in perpetuity and relied upon an intact signature scheme to achieve the whole host of functionality that Bitcoin could offer natively.

SEGWIT BREAKS BITCOIN CORE (BTC) AND BITCOIN IS REBORN AS BITCOIN CASH (BCH)

And so it was that from August 2017 a group of miners with a majority of the hash rate forked the Bitcoin protocol via the introduction of a new version of the node client and ran with it until this current day under the exchange ticker of BTC.

The true version of the protocol without SegWit was maintained under the identity of Bitcoin Cash with the exchange ticker BCH.

There were several groups working upon the node client for Bitcoin Cash.

Unfortunately, most of these groups were driven by ideology rather than empiricism. A faction emerged that sought, once again, to introduce protocol changes which would restrict the functionality of the protocol in the name of scalability and privacy.

BITCOIN SV TAKES OVER THE BITCOIN BATON

It again came to pass, that in November 2018, when a group of developers sought to introduce canonical rather than chronological transaction ordering and a roadmap of protocol changes, the network forked a second time into two different implementations of the Bitcoin rules set.

Once again, exchanges colluded with players in industry to award the BCH exchange ticker to the deviated protocol.

The development group that sought only to restore the original functionality of the node client to the best of their ability (due to the changes that have been introduced), had to assume a new identity once again as Bitcoin Satoshi Vision.

This post is based on this twitter thread.

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