In fact, Bitcoin is all about time, said Bitcoin Association Founding President Jimmy Nguyen introducing the CoinGeek New York 2021 Event. He reminded everyone of the importance that time has played in all of human history, with particular importance in marking time – something that the entire Bitcoin network seeks to achieve better than anything before it.
“It’s exciting to be back here in the world capital. It fits so well that we are above Times Square because the conference theme is ‘It’s About Time’. “
Nguyen noticed the double meaning of the sentence. On the one hand, this is the time for the rise of the BSV, he said. While past events have shown demonstrations of upcoming features, upgrades, and big expectations, now is the time for BSV to prove itself in the real world.
On the other hand, the slogan has a more fundamental meaning: Bitcoin itself is about recording events in a timely manner. Satoshi Nakamoto did not mention “blockchain” in the Original white paper, but said “Distributed Timestamp Server” and “Timeline”. Digital time stamping may not be for everyone and may not sound exciting, but the world needs a network that can securely record and record when events in history have taken place. In the last few years in particular, it is important to know whether and when something previously recorded was changed.
Nguyen referred to his own parents, who recently celebrated 59 years of marriage, and how people use personal experience to mark the passage of time over life and its changes. He asked attendees to think about how long it will take everyone to get to this point where they are thinking about Bitcoin and what they will be building on the network to improve the future.
“Bitcoin can have tremendous power if allowed to scale,” he said, and BSV does. It gives value to data, and time itself offers more value. BSV has no scaling cap and can compete with any existing payment network – it not only processes financial transactions, but uses these 10-minute intervals to record all the data useful to people from now on. Whether it’s social media, healthcare, multimedia files, tiny payments or anything else, the BSV blockchain can be the one “universal source of truth”.
“We’re at a point where it’s boring to see huge block sizes on BSV,” added Nguyen, flashing past a chart that would have dropped its jaw about a year ago. With (temporary) processor limits of 2 GB and promises of 50,000-100,000 transactions per second, Bitcoin is much more than just looking at charts and wondering whether prices would go up or down.
Everyone is talking about NFTs and “it’s time to symbolize the world,” he said. It is time for Bitcoin to go exponential, the blockchain for everyone and not just a few individuals. Nguyen previewed some of the known and new projects that would be showcased in New York including Blarecast, SensibleSV, SLictionary, PeerSend, Codugh, Haste, BullishArt, nChain’s Kensei, MintBlue and many more.
Time and the measurement of time have defined our lives by adding structure. No matter how simple or advanced the technology for recording is, it has always brought meaning and order to events. Bitcoin is that order and it is powerful enough to record all massive and microscopic events. Satoshi’s original vision was all of this, and the BSV industry is making it a reality.
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