To be honest, I don't think I fully understand it. The diff…
To be honest, I don't think I fully understand it. The difficulty of translating English into Japanese and understanding the structure of blockchain itself is beyond general knowledge. (laughs)
Anyway, ever since I learned about BSV and started using it, I've wondered, "Why is it possible with BSV to achieve things that other chains can't (L1 completion, fully on-chain, large capacity, low cost, fast transactions)?" No matter who I asked, no one could give me a clear answer to my question. (Perhaps it's a problem with my own understanding…)
I've tried to convince myself that it's probably due to sacrificing decentralization and security, but I've now realized that I was trying to apply the concept of the trilemma, which is merely one metric among many.
But something still doesn't quite sit right with me…
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Many people have politicized the term "decentralization". In their eyes, decentralization matters more than Bitcoin itself. Most people don’t care about how to utilize blockchain technology; they only hope to make a profit from buying it.
Here's what I think.
Initially, Bitcoin was created by Satoshi without further consideration of all the other blockchain that'll be created.
In that sense, the trilemma theory you talked about did not existed in the textbooks, but it does not mean that it's irrelevant, but they're created because there are so many options today. So people start shopping every chains to fill its boxes.
It's like religion you know what I mean? 😂 You have one initially, then many imitators that tries to achieve the same thing.
If you read Satoshi's work you know he had thought out all aspects of it, Scalability, Decentralisation and Security but just not like a textbook sense.
I think it's not that Satoshi did not care about it. More like he didn't think it's something that's separate from the design. It's coherent and completed to begin with.
And the only person who knew that it's Turing Complete since the beginning?
You think it's centralised in the Blockchain sense because of all the narratives created. It's like whether you believe in objective reality or subjective reality. All these other coins believed in the subjective reality.
It's centralised in their definition, because by design if scaling is needed, the general trend is lesser node because of big data centre or specialised equipment requires many resources, which also mean fewer participants. The average people cannot/do not build specialised nodes.
The problem of the cryptocurrency space is people judge based on the results rather than by design. And they created this trilemma theory like shopping. In the Web3 space, BSV is centralised.
But actually by design it's not. (If you still don't get this part, it's hard) If you have many competing big specialized data centre operating in their self interests, that would be decentralised in the Web3 world.
Here's where it gets tricky. BTC isn't decentralised even by nodes in the Web3 language. Check the data. If you have non mining nodes they aren't really participating. …
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