What if WhatsOnChain WENT DOWN?

I was planning to record another video this afternoon and not this one. I was planning to record a video showing people how to import into their metanet clients' funds that they had previously stored in a regular Bitcoin SV private key so we have a tool. to move people away from the legacy Bitcoin architecture where you just have a private key and you can import your coins and use them, which doesn't work because you're not actually tracking the utxos or Merkle proofs on those utxos or you can't To prove your ability to spend them, you must rely on blockchain scanning services to look up the address where those coins are and then get the information you need so you can use your coins.

I was planning to make a video showing how you can move. your coins from this traditional private key storage, which is old and bad, and you shouldn't use it in an SPV-based architecture where you can actually tell that you have Merkle proofs in the input transactions you provide to people exchanging things on an equal footing. without the need for blockchain search and scanning services; However, at the time of this recording, the service I relied on called

what

's on chain, which is a blockchain search and scan service, had an API outage. This video is not about that API outage and it's not trying to say anything bad about

what

's on the chain, in fact they are providing a critical service for BSV and I commend them for their efforts to run a blockchain scanning service with such high volumes of transactions will also occur. like the ones already happening on the net, it's really good that they do that because if they didn't, a lot of people would be in a tailspin right now and here's a little preview of what could happen when these scanning services of blockchain cannot meet the demand in the future, so I am going to raise the screen.

I was working while writing code as a developer, working on this thing that you know you put in. your private key you can steal this private key if you want and all the money in it the 1100 satoshi from mainnet bsv so I'm just going to copy this and show you how this tool is supposed to work so this is the key funder here and I'm going to reload this page so we can see a little bit, so I'll come back. You have a key financier. You can import keys or you can import funds to your Metanet client and you can send funds from your Metanet. client, this is how key funder is supposed to work, so let's go ahead and import some BSV and I want to import vsv.

You know, eventually we'll import BSV from all these places into the Metanet client, but for now we'll just move on. go ahead and use the private key from the wallet import format, so paste your private key, get your utxos from what's on the chain, choose the ones you want to import, take your 0.000, any bsv and import them, except oh god mine, now it's going to work, now it works, but I think if I scroll up in my network history here there might be evidence of the time it didn't work, yeah, so here, it actually worked and this is the first time that It worked, but just a few minutes ago, uh, when I was using this and I couldn't get the transaction hex of what's on the chain given the txid, which is a crucial step to import the bsv, so now I'm going to open this on my metanet. client and I will show you how you can import bsv here.

Yeah, I understand my, you know, my satoshi and I'll update this there. You know, you see I'm there minus the fee and they're gone right now. my money, so I imported my BSV to my Metanet client, but when what was on the chain

went

down and now you have to take my word for it because I think it's back on, I posted on their Telegram channel and said: "Hi "Guys, you should." probably wait, someone responded, it seems like someone responded well, well, someone fixed it fine, so I contacted their support and someone fixed the chain of content system and now their blockchain scanning services which they provide as a service essential for a bridge between the old and new of Bitcoin, the key-based and SPV architecture that supports direct peer-to-peer transactions that has been temporarily fixed for now, well, I mean, now I'm glad I have this working because I posted here just before I start recording this video, but there is still something to say: in the future, maybe these systems will not work, people need to move to SPV and they need to move to SPV now we have to move like many currencies in an architecture where the users track their own utxos, users have Merkle proofs on input transactions, exchange SPV related information because when we do that we don't need to depend on these scanning services and indexing systems because at that time users funds are in control from the user, so these scanning services and indexing systems will be just a bridge for the old BSV VSV that was stored in these past private keys and imported to SPV metanet, the new way to keep your real coins and capacity Between peers. spend them not only knowing your key, but also knowing what your exit point is, your transaction ID and the outcome you are actually spending on, so you can demonstrate it and send it to the recipient by exchanging transactions directly in a scalable way as defined by the original Bitcoin architecture, so it was actually a perfect example.

This video worked pretty well, so yeah, this is an example of what could happen in the future if these indexing systems ever go offline and we can't use them if users make transactions that include raw hex for transactions with the ones they're dealing with and if they exchange that peer-to-peer exchange, then we don't need to rely on on-chain scanning and indexing systems and we don't need to trust that you know you have a private key and then reviewing all the Bitcoin transactions on the entire chain , millions and billions of them in the future, to get what we want, we have access to our own data because we got it from our peers and when I want to send something. so that it appears I can send it in such a way that that person can verify it.

I recommend you watch my other videos on SPV to understand a little more how this is supposed to work and how the Bitcoin architecture is supposed to scale and for your own good, if you have a lot of BSV, especially OMG, dear Lord, I hope you know if you have hundreds of times more BSV than me, which you know, I read a lot of stress there, uh, with what's going on on our network, I hope. you are aware of what is happening in our network, I recommend that you know the Merkle test on the transactions that contain the exit points with your tokens with your coins and I recommend that you have SPV information and I recommend that you know how to use SPV tools to trade directly peer to peer because eventually that will be the only way to use Bitcoin, that's all I have to say on this one, thanks for taking the time and I wish you good luck in implementing svvspv. for a properly scalable version of Bitcoin