Events 19 October 2018

Erik Gibbs

Jimmy Nguyen of nChain is busy working his magic to promote Bitcoin BCH

Jimmy Nguyen, the affable CEO of nChain, has been making his rounds to promote Bitcoin BCH and how the blockchain is changing the scope of cryptocurrency. He recently completed a couple of discussions in front of cryptocurrency enthusiasts where he went into great detail about how Bitcoin BCH is poised to be the ultimate blockchain and how it will revolutionize how the cryptocurrency ecosystem is viewed.

One of the conversations led by Nguyen was to a group of individuals in Wales. The seminar was uploaded to YouTube only a few days ago and, as usual, his effervescent personality and in-depth knowledge captivated the audience. He provided a significant amount of support for why cryptocurrency and blockchains are so crucial to a changing world and additionally needs to happen for this evolutionary cycle to continue.

Providing an overview of what a blockchain is, Nguyen broke down the fundamentals of the blockchain, pointing out that the technology can completely alter how records are kept and how it can ultimately eliminate the need to rely on intermediaries. This is an important feature, as the intermediaries, such as banks or information processing houses, slow down transactions and result in higher costs.

Nguyen also touched upon the need to create a network that is much more scalable than what is seen now. This will not only lead to faster transaction times but a blockchain with a greater foundation, such as the proposed 128MB block size for Bitcoin BCH, will give businesses the confidence they need to want to innovate on that particular blockchain. This leads to greater stability and usability of the particular blockchain.

In his second seminar, which is also available on YouTube, Nguyen targeted Bitcoin SV, a new full-node implementation of the Bitcoin BCH protocol for miners. The idea behind the implementation, as Nguyen points out, is to create a network that is more stable, more secure and more scalable. It’s an opportunity to return to the original vision of cryptocurrency offered by Satoshi Nakamoto, and to stop viewing the blockchain as a playground for developers.

As Nguyen so eloquently puts it, “It’s time for Bitcoin to grow up.” It’s time to introduce a network that is more solid and gives the world a chance to see what cryptocurrency was really designed to be—a valuable peer-to-peer digital currency.

Following Satoshi’s original design for the cryptocurrency, Bitcoin Core (BTC) developers never gave cryptocurrency a chance to mature as it had originally been intended. This was the impetus for Bitcoin BCH, to continue along the same path and definition of cryptocurrency.

Nguyen rightfully asserts that cryptocurrency needs to be constructed on solid block, not on moving sand. When developers want to introduce changes (most of which do not enhance the network) every few months, the blockchain can never evolve appropriately and cannot build the foundation that it needs. Only through projects such as Bitcoin SV can provide the necessary stability to take Bitcoin BCH into the future be achieved.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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