Bitcoin isn’t just speculation. Here’s what it can do.
Bitcoin refers to the Bitcoin invention as created by inventor Satoshi Nakamoto, before financial megacorporation-funded companies in collusion with crypto-exchanges took control of the BTC ticker and removed essential features of the protocol in order to enrich themselves. The original Bitcoin is a permanent ledger of truth for the micropayment-enabled web that makes legacy payment providers obsolete and creates thousands of new business models. Bitcoin additionally ensures that history is permanently preserved real-time unaltered. Today the only implementation that follows the original unchanged Bitcoin protocol is known as Bitcoin Satoshi Vision (BSV), yet the majority of people know BTC as Bitcoin, despite showing little resemblance to the original. BTC promoters work tirelelessly to ensure the original Bitcoin’s features are not discovered by the world and advertise it only as speculation.
The original Bitcoin is the contrarian crypto bet.
There are thousands of tokens on the digital asset markets that have existed for years and haven’t done anything. They benefit from speculation cycles, extract investor money and haven’t produced any meaningful value.
The original Bitcoin was an existential threat to many industries including banking and payments. Bitcoin challenged the status quo by being able to store any data on a distributed uncensorable network. Most of the features that competing blockchains claim to have, the original Bitcoin protocol had.
In around 2014, for-profit companies started to pay off Bitcoin Core developers and around the same time, essential Bitcoin features were removed from the code permanently. (Coincidence?)
As a result, criticisms around Bitcoin being a “dumb” blockchain technology popularized which made room for Ethereum and others to emerge. The narrative was quickly (successfully) engineered by a small group of people from “Bitcoin is new, innovative technology for instant feeless payments” to “hold your digital gold.”
Exchanges benefit from a crippled Bitcoin.
Exchanges benefit when there are thousands of listed digital assets. Every time a token releases news it generates more volume. Every time there is a speculation frenzy, the more algorithmic traders there are, the more profit exchanges make, even if the prices eventually go down 99%.
The speculation frenzy actively disincentivizes technological progress because companies are incentivized to focus on their token price instead of progress.
Exchanges have a lot to gain from suppressing the original Bitcoin protocol as it spawns thousands of tradeable but valueless tokens instead of consolidating all their applications onto the Bitcoin chain.
Competing cryptos benefit from a crippled Bitcoin.
Various sub-niches of cryptos worth hundreds of billions of dollars have formed based on functions of Bitcoin that were removed by developers after Satoshi’s sudden disappearance.
• Ripple (XRP) amassed >$100b market cap from “instant payments” narrative: prior to the addition of “RBF” function in 2015, Bitcoin was able to do 0-confirmation (instant) payments
• Ethereum (ETH) has a >$100b market cap for “smart contracting” functions which Bitcoin could do prior to the removal of ‘OP_RETURN’ functionality
• Filecoin (FIL) raised $257m in ICO for “file storage on chain” narrative: Bitcoin was able to store files on chain prior to the artificial capping of OP_RETURN function
None of the aforementioned coins would exist if it weren’t for malicious interference by the people who were supposed to make Bitcoin succeed in the first place; everyone would just be using Bitcoin today. (Think: There is only one Internet, not different Internets for every website)
Competing cryptos have a lot to gain by suppressing the original Bitcoin protocol as it is an existential risk for them.
Incumbent monopolistic companies benefit from a crippled Bitcoin.
Bitcoin was designed to put money and data transfers back in the hands of users. Virtually all companies that act as middlemen must adapt their business models in a world of Bitcoin.
Companies that continuously infringe on its creators’ livelihoods or users’ experiences all have the potential to be replaced by a new, better Internet under Bitcoin.
Incumbent monopolies and oligopolies have a lot to gain by suppressing the original Bitcoin protocol because they can continue to operate dishonestly. (Think: PayPal, in 2020, started allowing BTC purchases.)
Two different worlds to live in.
In the existing “crypto” paradigm, money just gets sucked out from investors via token sales, and nothing ever gets done, due to fraud, scams and skewed incentives. Actual progress is suppressed because progress means speculation slows down. No crypto “innovations” challenge incumbents and the cycle continues.
In the new paradigm—which is the old paradigm but improved—companies develop products and services on top of the Bitcoin protocol just like the Internet, and if they’re good, people use them and the companies make a profit. With Bitcoin, any developer can build a permanent on-chain app and monetize it in perpetuity, taking a tiny cut every time someone uses it; the implications of this are a massive increase in productivity and competition.
This is what exists on the Bitcoin platform today: the new Internet.
HandCash is a Bitcoin wallet that allows users to send micropayments and nanopayments (as little as $0.01) across the blockchain.
HandCash Connect feature allows developers to connect their websites to the Bitcoin blockchain and accept micropayments on any webpage that interacts with the blockchain or simply to accept payments.
Users can engage in social sending as well, attaching messages to payments and reacting to payments.
End users are able to send each other as little as $0.01 through a HandCash handle—there is no need for knowing someone’s Bitcoin address.
PayPistol app through HandCash Connect allows users to do giveaways through multiple social media platforms.
One click allows the sender to send to as many handles as they want, as little as $0.01 to even 10,000 people at once.
Money Button: Send money on any webpage
Money Button makes it easy as pie to create your own… money button. This wallet allows you to insert a simple HTML snippet into your code and get paid with a simple swipe of a button.
“Money Button is like the Facebook like button, but with money instead of likes.”
See Money Button below.
Swiping the button is faster than PayPal and Amazon 1 click checkout, but can be implemented on any and every site on the web, at potential “checkpoints.”
Money Button allows any page to accept as little as $0.01 in payments or tips. Examples include paywalls, locked content, or just dropping some money for content you’ve enjoyed.
Money Button cannot hold you back from accessing your money like existing services can, which means if your website gets a surge of traffic and you receive thousands of dollars in payments, it’s as good as having the money in your pocket.
Twetch is a distributed social network allowing for users to “take back their data.”
Users can sign up and post directly from their Bitcoin wallets. It costs as little as $0.02 to post a Twetch.
A micro-economy is created within Twetch where the best ideas can thrive and the creators of such ideas can be rewarded financially through likes and branches (shares).
Twetch does not own users’ data. The social network is actually an interface to interact with the Bitcoin blockchain. All data is on-chain.
Even if Twetch bans someone from the platform, they don’t lose their content. They can still interact with it on the blockchain where it is saved forever. This solves the problem of censorship and demoralization through deletion of content.
Users can pay each other based on the validity of their ideas with the click of a button. The receiver receives the payment as soon as the sender clicks the button, directly into their Bitcoin wallet.
Peergame allows users to play a variety of games: Coin Flip, Dice, Baccarat, Ladder Game, Turtle Race and Bitto (Jackpot), directly from their Bitcoin wallets.
Within a fraction of a second of the bet the user has found out if they have won or lost, and their winnings are distributed instantly.
The same way you don’t know how the back-end of email systems work, but you know they work smoothly and reliably, Bitcoin should work the same way. Paymail is a collaborative initiative by Money Button and nChain to remove Bitcoin addresses from the equation of payments completely and allow true mainstream adoption of Bitcoin.
Virtually every popular Bitcoin wallet has adopted the Paymail standard, and one can send money across from one wallet provider to another as simply as typing an email address (e.g. email@example.com).
RelayX’s debit card allows the fusion of traditional payment systems and Bitcoin.
By sending any amount of Bitcoin to a Paymail address associated with your debit card, you deposit money into your account.
One can deposit as little as a penny into their debit account. (Not possible anywhere else)
There are no fees for using the debit card.
Anyone can top up your card by simply sending to your Paymail address.
One can get paid from their posts on Bitcoin-connected sites such as Twetch and then buy groceries instantaneously, with their earnings.
This solves the problem of locked up cashflow and liquidity for independent content creators who have to wait months to get paid.
Dimely allows hosts to create a video or audio call room that requires payment by-the-minute to be in. No account is necessary for either the host or participants in the room.
Users need no account to participate. A Bitcoin wallet is enough to, as a host, have a private call session with someone who is willing to pay for your time.
Use cases involve coaching someone one-to-one (or a group session) and the students pay by the minute, automatically paying directly from their wallet.
Fraud is no longer possible, and the hosts get paid directly proportionally to time.
Haste is a gaming platform where users compete against each other to earn Bitcoin.
There are currently two games, Haste and Match. In Haste, players are shown a button on the screen that they have to tap as fast as possible when it appears. In Match, the player is shown a time measured in milliseconds, and another timer that counts up rapidly. The user has to tap the timer when it matches the time shown.
By tapping more temporally accurate than other players, the player can place on the leaderboard, which entitles them to a portion of the amount of the spendings of all following players.
But what the platform actually does is provide a visual demonstration of micropayments, educating users on the core aspect of Bitcoin: “A Peer to Peer Electronic Cash System.”
Haste uses the HandCash SDK to pay out hundreds of users simultaneously and instantly.
Because of micro-transactions, Haste is able to pay out fractions of a penny to hundreds of users simultaneously and instantly. If your best times are within the top 100 best times on the leaderboard of your division (₿ spent per play), you automatically receive a % of the next plays within that division.
Haste’s referral program allows referrers to earn a percentage of Bitcoin spent on every one of their referrals plays—fractions of a cent each time—not possible anywhere else. Therefore, you don’t even have to play the game to earn Bitcoin.
What problems does Bitcoin really solve?
Payment processors charge a 2.9% + flat fee on every purchase, to the merchant. Flat fees mean that small transactions are impossible (e.g. $0.20 transaction, $0.50 fee)
Existing trusted third parties that hold money may unfairly hold back payments (willingly) or have bad payments systems that take an unreasonable amount of time to pay out (e.g. Patreon, YouTube, Spotify, Amazon, etc.)
Users have no data sovereignty. Platforms that users post on own users’ data and posts, yet take no responsibility for creating that content. A rogue employee (or the policy of the platform) can arbitrarily delete an entire person’s library
Payments are instant and almost free. Cheap transactions mean that micropayments are possible, opening the gates to a plethora of new unexplored business models
Users pay the businesses; there is no intermediary. Payment is instant, making cash flow much better for recipients. No need to wait months for payment. User owns their money as soon as it’s received.
Platforms only show data, not store it. Users interact with the blockchain through platforms, storing their data forever on the blockchain. The platform can choose not to show content they don’t like, but it can never be removed for good. Your existence forever has a place in history, like never before
Ricardo the Musician: Rick is a musician who has three albums released, earning passive royalties from platforms like YouTube, Spotify, Apple Music, etc. He has a revenue agreement with his record label: 50% revenue split. He gets quarterly paychecks amounting to royalty streams. (This is a quite standard agreement) His cash flow is inconsistent and earnings unreliable, and he struggles to invest in income producing assets.
In a Bitcoin world, each stream of Rick’s music instantly generates a payment to Rick’s wallet—automatically split 50/50 with his record label—meaning he gets access to cash-flow instantly. Then, each day he can directly deposit automatically 10% of his revenue into predetermined stocks that he has always wanted to invest in. Rick has solved his cash flow problem and increased his revenue as a result of cutting out the middlemen.
Joshua the Author: Joshua wrote a popular book about a polarizing topic that became a bestseller, and now has a career out of it. Joshua became one of the leading influencers in this field. Due to a mass “cancel culture” event, Amazon and Target removed Joshua’s book from their stores. Additionally, Joshua was banned from Twitter, where he shared all his thoughts, and Patreon froze Joshua’s funds/terminated his account. He only has his website left, but the traffic has gone down dramatically because of lack of engagement. He’s lost his entire Twitter library. Joshua’s main revenue streams have been cut off: book sales, Patreon subscriptions, and sponsorships.
In a Bitcoin world, Joshua can sell eBooks directly through the publisher with 1-click Bitcoin payment, in any currency, feeless. Joshua can document his future thoughts on Twetch, where they can never be deleted from history. He no longer has to use Patreon and have them hold his money as well as take a 10% cut; he will now get money directly from his fanbase instantly on a Bitcoin-based Patreon competitor that doesn’t discriminate based on the users’ opinions. Sponsors can now use a service such as TonicPow to pay Joshua directly for each visit based on instantly-generated user analytics. Additionally, Joshua can unlock another income stream: paywall articles. By using Money Button, users can one-click unlock premium content that Joshua has written. Joshua has fixed his censorship problem and unlocked additional revenue streams he didn’t know existed.
Gooplesoft Inc: Gooplesoft is a corporation with lots of retail customers in the software and gaming industry. Gooplesoft has had two critical problems this year, resulting in an estimated $8.3 billion loss. The first being a data breach of all customers’ data, and the second being a server failure resulting in the loss of players’ stats and paid items on their Fork-Knife-Craft game.
In a Bitcoin world, Gooplesoft stores their customer billing data (encrypted, of course) on the blockchain. Gooplesoft knows what the files are, while hackers scan the blockchain among the billions of transactions and see just letters and numbers. Secondly, Gooplesoft stores their players’ stats on the blockchain, updating them at regular intervals, especially when one purchases an item. This also gives the user the benefit of being able to use one in-game item on Gooplesoft’s other games. Gooplesoft spends $50 million a year to Bitcoin transaction processors (miners) to store all this data on the blockchain. This system essentially functions as a reliable insurance system against future losses ($50m/year vs. $8.3b), and creates efficiency for cross-system integration.
Priv-EQT Corp: Priv-EQT corporation invests in start ups and small businesses (private equity). They make deals for upfront investments in multiple rounds in exchange for equity and revenue-sharing agreements (see: Shark Tank). Currently their royalty from the revenue sharing agreements is paid out once per quarter. Priv-EQT needs better cash flow.
In a Bitcoin world, Priv-EQT can collect a certain pre-determined percentage of the revenue from each of their companies every time they make a sale. If a customer buys the company’s product for $100 and Priv-EQT’s agreement is 5%, Priv-EQT would automatically have $5 sent to their wallet for every purchase made. This allows Priv-EQT to have much better cash flow, as well as have much better transparency as they would be able to know exactly how many purchases are coming in every single day and what the trends are; miscommunication or lies are completely non-existent in this system. Priv-EQT’s cash flow problem is solved and they now benefit from increased transparency too.
What can I do for the original Bitcoin?
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OnlyonBitcoin.com is completely independent; we have not received funding from anyone, nor have any significant monetary incentives for running the website.
The aim of the website is to promote the usage of Bitcoin as the inventor Satoshi created it, and change the fraudulent narrative that Bitcoin is “digital gold”, or a “savings account”, as fraudulently promoted by BTC promoters. (Please note the difference between the messaging on this site and the message pushed by BTC proponents)
Those promoters aim to take your money; BTC is not a value-producing-asset. BTC is a securitized zero sum game and the beneficiaries are people with information asymmetry: promoters, miners, exchanges and price manipulators, at the expense of retail investors. It essentially functions as a penny stock where the pumpers won’t be held liable for fraudulent promotion because the SEC is unfamiliar with the concept of “decentralization” being a scapegoat for criminality that would be punished in any other context.
It is our opinion that Bitcoin is a commodity that derives its value from the demand for transacting on-chain and represented by the total value of the data on the blockchain. BTC has removed any uses past speculation and thus functions as a security in which all holders work in a common enterprise to promote it to new people, as that is the only way that the dollar-value of it can go up. It is thus extremely unethical and possibly illegal under IP law for BTC promoters to use the Bitcoin name in a context that will inevitably ruin the reputation of Bitcoin, while suppressing the underlying invention behind it.
We hold and use Bitcoin (SV), support the original Satoshi vision for a world with easily accessible peer-to-peer electronic cash for everyone rich or poor, and believe it will create a new Internet economy, unmatched by any previous economic system innovation. We believe this creates unspeakable value and eradicates poverty by allowing countless new global micropayment industries to form. We encourage you to use Bitcoin as intended, spread the word, and build companies around it (and invest in those companies). Just like the Internet created a new reality for how we live our lives, Bitcoin will do that too. Not through speculation, but by utility.