The Bitcoin SV (BSV) blockchain allows the sending of low-cost microtransactions. That is an innovation and highly disruptive.
But hold on a second. There is something that happens before you transact with your BSV sats: price discovery. With BSV, you send microtransactions and micro-valuate the goods and services available to purchase by your BSV sats.
Imagine BSV sats as an ultra-high-resolution microscope for finding the right price.
Step by step, I mean, sat by sat into the digital details
BSV microtransactions are fundamentally about micro-valuations. The transaction happens after the valuation.
Bitcoin inventor Dr. Craig Wright said the following in a CoinGeek interview:
“One of the big problems of the internet was the whole concept of ‘data needs to be free.’ Data doesn’t want to be free. Data hates free. Data wants to be valued. (…). And when it is valued, data becomes information. And information is critical.”
Pay attention—this is not primarily about microtransactions but about valuation. We are discussing micro-valuation here. The thing that happens in your mind before you transact.
- Transactions happen in the world, outside of you.
- Valuations occur inside your mind or even inside your heart and belly.
The term micro-valuations should be used more often because microtransactions directly affect micro-valuations. Micro-valuations can be applied to virtually everything, even if not all items are subject to transactions in the end.
In other words: we will micro-value way more than we will microtransact.
The “killer app” of BSV is not microtransactions alone but the “hidden” micro-valuations that come with the transactions. To value is something that happens in your mind—but is pointless if you cannot transact according to that specific valuation that you just thought of.
Only BSV gives life to micro-valuations by enabling microtransactions. Since we can finally transact on a micro level with BSV, the micro-valuation in mind is not in vain. We see the micro prices and can act on them by setting and settling them with the transaction.
Bitcoin as an element and sats as atoms?
With BSV sats in your wallet, you perceive goods and services through a new lens, a digital one, influenced by BSV. Compared to all other digital assets that cannot perform low-cost microtransactions, these nonsense coins out there cannot enter the high-resolution world of micro-valuations the way we do now.
Dr. Wright recently tweeted:
A sat is atomic.
A sub sat would require a complete second system and too much to explain in twitter.
— Dr Craig S Wright (@Dr_CSWright) January 8, 2023
Yes, BSV sats are atomic. That is what I mean by microtransactions, as in micro valuations. On an atomic level. Before BSV, we tried to micro-value “small goods” and “small services” in pennies or similar denominations; there was no higher-resolution price lens available. Now there is.
Bitcoin entrepreneur Jack C. Liu from RelayX even wrote an article titled Bitcoin as an element. That idea hints in the same direction – the micro-valuation of everything, down to the atoms. BTC, on the other hand, is stuck with an infrastructure for their satoshis as atoms but without the capacity to let these atoms vibrate and fly.
Wearing these BSV digital lenses
Let us see what the successful and BSV-driven Take It NFT platform has to offer. I see a lot of non-fungible tokens (NFTs) there that are affordable. Just some sats here and there, and I could probably have it:
Abrahamic Stained Glass: Collection 0 live now!https://t.co/Idk7dzq00c
— Take It (@TakeItNFT) March 30, 2023
These NFTs are visually stunning, aren’t they? There are a lot more, pricy ones and inexpensive ones. I pay much attention, though—even if it is just about some pennies in the end. It seems like I am forced by BSV itself to value on a micro level, on an atomic level even.
Furthermore, the limited supply of BSV sats in circulation encourages a deeper valuation of goods and services against Bitcoin as a “hard cash” system.
I am going as far as saying that with possessing BSV sats—both in mind and in the wallet—you will probably pay more attention to details and the details within the details concerning everything commercial in your life.
BSV sharpens the mind. We micro-value stuff.
Watch: LiteClient: Scaling Blockchain with Simplified Payment Verification
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