I’m very new to Bitcoin and a baby boomer, so I’m not equipped to comment on any technical elements of the Bitcoin protocol, which is unfortunate. My business development coaching experience spans 30 years, and I’ve authored two business books and an electronic newsletter regularly sent to thousands of professionals in more than 120 countries until recently. Consequently, in this context, I express my contrarian viewpoint on something: I do not think that we should use new terms unless there is a compelling reason to. However, let us be more precise in our use of language. Before we go ahead in our guide, register yourself on the bitcoin system to learn a lot of new things about the safest ways to trade.
Bitcoin piqued my curiosity, but not to the extent that I felt compelled to go headfirst down the Bitcoin rabbit hole like some others. Bitcoin was akin to this brand-new innovation that made use of blockchain technology. And for people who are just familiar with Bitcoin on a superficial level, this is perfectly acceptable. I was completely incorrect, as were so many others.
However, the more you learn about Bitcoin, the more you begin to recognize and appreciate the mind-boggling originality and revolutionary nature. Both of those previous innovations or discoveries were considered watershed moments in the history of humanity. It has come to my attention that Bitcoin is a similar kind of innovation or discovery, and I now concur with many others who have been in this area for far longer than I have. There will never be another innovation like it in the history of the world.
After hundreds of hours of research, I’ve discovered that there is only one Bitcoin in the whole world. But it doesn’t rule out the possibility that bitcoin may survive for thousands of years and ultimately become the world’s primary reserve currency. I happen to think it will, but it isn’t important to the argument I’d want to make to Bitcoiners about how they should conduct themselves.
Bent’s Research Was Published by Bent
Why don’t more Bitcoiners refer to the Bitcoin network as a “time chain” rather than a “blockchain” when explaining how it operates? During my early days of researching and learning about Bitcoin, I came across an essay written by Marty Bent that addressed exactly this issue.
Bent cleverly points out that Satoshi made a passing mention of the term “time chain” in this letter shortly before release, and Marty is absolutely correct, in my opinion because a large number of Bitcoiners get enraged when another cryptocurrency claims its blockchain is superior to Bitcoin’s blockchain. Alternatively, when members of the government or central bankers engage in it. Bitcoiners believe that these other individuals and currencies are swindlers and con artists. Perhaps a large number of them are, but that is beyond the issue. Bent makes a strong case for referring to the Bitcoin blockchain as a “time chain” in his paper.
Some of you may be thinking, “What does it matter? “Does it truly make a difference?” Absolutely! For those Bitcoiners who think that the Bitcoin protocol, like the number zero, was created as one-to-one correspondence, it is time to start speaking in that manner. Satoshi put this chance in front of us on a silver platter!! There are hundreds of other “competing” currencies available on the market today, many of which claim that their blockchain is superior to the Bitcoin protocol in some way.
I believe it is past time to put the record straight. The play on words was intentional. Using the word timechain instead of blockchain, Bitcoiners, in my opinion, may go a long way toward solidifying Bitcoin’s one-of-a-kind status. Bitcoiners may avoid, or “soft fork,” this modification to the time chain at no cost and in real-time without causing any damage to the bitcoin asset itself. The signal is represented by the term “time chain,” while the noise is represented by “blockchain.”
We’re making it possible! In addition, we are fueling the same narrative that Bitcoiners despise and oppose! Even more significantly, I consider bitcoin to be the equivalent of a twelve-year-old who has patiently endured us incorrectly referring to one of its “body parts” or key components by the erroneous name for the last twelve years. Growing up with my given name being mispronounced throughout my whole life, I understand what it’s like to be called by the incorrect name thousands of times.
To solidify this concept, I suggest that the First Annual Bitcoin Timechain Conference be held in Denver either later this year or on January 3, 2022, whichever comes first. The Bitcoin time chain will have reached the age of thirteen and will be ready to introduce itself to the rest of the world under its true name.
