Bitcoin SV (BSV) Weekly – Feb 27, 2019

I would like to introduce Bitcoin Association, the new name of the former bComm Association, the leading industry group for Bitcoin business.  We’re dedicated to advancing business with Bitcoin SV.  The organization brings together merchants, exchanges, application developers, enterprises, miners and others in the Bitcoin ecosystem.  

Everyone knows Bitcoin for its vision to become the world’s peer-to-peer electronic cash, but it will become far more.  Now that BSV has rebirthed the original Satoshi Vision, there is a scaling plan and technical roadmap for Bitcoin to become the world’s data ledger and data network.  Our organization seeks to advance all business uses of this powerful blockchain, not just payments and e-commerce with Bitcoin.  The name Bitcoin Association better captures this broader mission.

Along with the new name, we’ve unveiled a new logo and brand identity.  Our website has moved to the domain bitcoinassociation.net.

Our association has an ambitious agenda to help BSV grow, so please join us on the journey.  Companies interested in becoming a member can register online. There is currently no charge for membership. 

Meanwhile, let’s review some of the great BSV developments from the last couple of weeks.

Jimmy Nguyen

Founding President, Bitcoin Association

& your friendly BSV Global Ambassador


Wallet Workshop

On February 19-22, 2019, this Bitcoin Association event in London was hosted by nChain and sponsored by CoinGeek.  The workshop gathered representatives from many Bitcoin SV wallets around the world, to facilitate discussion on improving BSV wallet offerings to enable a more seamless and secure user experience unique to Bitcoin SV.  Among topics discussed were payment protocols between client and merchant wallets, payment channel implementations, and easy addressing mechanisms.  Several draft standards are expected to be produced over the coming weeks; all workshop participants have agreed to implement the proposed standards, which creates a more rapid path to adoption. 

The Bitcoin SV ecosystem relies on more than just mining nodes.  It also depends on wallets behaving according to the Simplified Payment Verification model Satoshi described in the Bitcoin white paper, and the outcomes of this workshop are expected to get much closer to that Satoshi Vision. 

You can watch interviews with the attendees here.

ElectrumSV wallet

ElectrumSV uses the same set of core features for the Electrum wallet family is known, whilst extending and improving those features for Bitcoin SV.   For its upcoming version 1.2.0, ElectrumSV’s networking layer has been completely rewritten.  It is fully asynchronous, scalable and robust, and lays the groundwork for future plans.

This week, ElectrumSV also unveiled a new logo which uses the Bohr model to depict an atom, rather than the Rutherford model used by the original Electrum wallet.  BSV’s icon is the nucleus of the atom.

Exchanges and Payment Services

Voltaire is an electronic cash exchange which announced that BSV trading has been introduced due to high demand from their users.  Voltaire now offers single confirmation deposits, free withdrawals and no trading fees.   Read the full blog here

CoinGate, a Lithuanian-based fintech company, which provides a payment gateway for blockchain payments.  It serves over 4,500 business clients and 80,000 registered users, now enables native trading and support for BSV.   CoinGate’s platform allows buying and selling digital assets without the need for first depositing funds.  Customers can choose from a variety of purchasing methods like Neteller, Skrill, credit/debit cards, SEPA bank transfer, QQPay and mobile balance, making the process to acquire BSV and other cryptocurrencies much faster and simpler.

CoinPayments is a key crypto payment processor that now accepts Bitcoin SV and integrates with all major e-commerce applications, including Shopify. Other merchant tools include, instant crypto checkout with easy to use cart plugins, advanced buttons, invoice builder, and an API for custom integrations.  CoinPayments makes it easier for merchants accept Bitcoin SV on their websites and online stores.

GAP600, a global pioneer in cryptocurrency payment transaction enablement, has announced that its service will now support Bitcoin SV.

GAP600 facilitates instant, risk-mitigated cryptocurrency commerce by enabling exchanges and payment processors to recognize as final unconfirmed Bitcoin, Bitcoin Cash and now, Bitcoin SV transactions. The company’s proprietary risk engine analyzes and performs live risk scoring for each transaction as it reaches the mempool, which enables the company to guarantee cryptocurrency payments before they reach the blockchain, providing an instant customer experience for crypto deposits and payments.

BitDiary

BitDiary is an on-chain diary app, the diaries are encrypted in AES256 with an entry key derived from your identity key. This means no one can decrypt it or even find it unless you share the entry key.  BitDiary follows the Bitcoin Application Data protocol and uses the B protocol as gateway. The method used in this application is covered by nChain’s patented invention for a deterministic key generation technique; this reinforces an important advantage the BSV blockchain has with use of select nChain IP assets.  Furthermore, when a diary transaction is made in this app, a tiny donation will be made to the developer, which is designed to encourage more BSV app development.

Satoshi Shout Out – Coinstorage

This week’s Satoshi Shout Out goes to Brendan Lee (@CoinstorageGuru) who announced this week that his online store Coinstorage.guru is now accepting BSV for payments.  Coinstorage.guru sells a cost-effective, simple and safe paper backup for all cryptocurrency Wallets – called a “Safewords” kit.  The Safewords kit stores recovery words for your wallet across multiple locations, thus eliminating a single point of failure. Check out the Safewords product and receive free global delivery.

BSV Meetups

Speaking of Brendan Lee, he also operates the Bitcoin Meetup Network website.  More BSV meetup locations are coming on board to the website. Tel Aviv-Yafo, Israel and Murcia, Spain are the newest global additions. It’s easy to find BitcoinSV meetups locations around the world.

The Wright Vision for Bitcoin – from Dr. Craig S. Wright

Forex accounting in script

nChain’s Chief Scientist Dr. Craig S Wright continues his weekly series about new uses of the Bitcoin SV blockchain.  His latest post is entitled “Forex accounting in script”. This Medium article explains how the system can allow for the creation of complete end-to-end development contracts that are legally enforceable and paperless. It allows for complete payment of subcontractors in the integration of existing project-planning and scheduling software.

Dr. Wright outlines how the method of the Ricardian contract can be made viable in commercial and legal terms. A Ricardian contract uses the essential elements of a legal agreement and puts it in format that can be expressed and executed in software.

The method described by Dr. Wright is covered by assets in nChain’s patent portfolio.