The word ‘bitcoin’ was created with the publication of the ‘White Paper’ in 2009. As the software was released as open-source, any competent developer could make changes to that code and release this as a new protocol – typically called a new ‘coin’ or crypto asset. The developer or the community could use any word to describe that new crypto asset – and early ones were LiteCoin, Dash, Ethereum etc. These new coins were typically distinguished from Bitcoin by the feature differences they had from ‘the original bitcoin’. Logically the version of the code that is closest in form to the original design and codebase has the strongest claim on the word ‘bitcoin’. It is clearly evident from an examination of the Bitcoin SV code base that it is the most similar to the original design and codebase to Satoshi’s original vision.
Bitcoin Satoshi Vision was created to restore the original Bitcoin protocol , keep it stable and enable it to massively scale. It is built on 4 pillars:
Restoring the original Bitcoin protocol and fixing it in stone to provide certainty
Legally-binding digital certificates in every block
Unlike BTC, it is not possible to fraudulently double-spend transactions.
Removing the artificial initial cap on block size enables the increased diversity of transactions which businesses want to perform. The Bitcoin SV network has been stress-tested at volumes that exceed the global credit card networks
The word ‘bitcoin’ is not trademarked, and hence can be freely used by any person or organization without requiring approval from any person or organization. Craig Wright has been legally recognized by the US Patent Office as the author and has copyright on the Bitcoin White Paper of 2009, and he has explicitly provided Centbee with permission to use the word ‘Bitcoin’.
Privacy, anonymity and regulation The Bitcoin SV community and developer ecosystem is committed to compliance with laws and regulations. Whilst many of the crypto- asset projects like Bitcoin Core (BTC) are trying to create anonymous systems to obscure the nature and source of funds flowing in cryptocurrency transactions, those projects will have a hard time staying compliant with global laws combatting money laundering and terrorist financing. We believe that anonymity in financial transactions will only serve criminals, and we agree with Satoshi’s Vision of a crypto asset that is ‘pseudonymous’. This means that your transactions are private, but not anonymous, so that an investigating party, such as a forensic team, can trace funds - which will decrease fraud and corruption in the world.