I'd like to see the 20 second reference. When holding your breath you don't exhale any oxygen. Breathing N2, you will exhale the O2 in your lungs so blood levels will drop more rapidly than holding your breath. Still, I would like to see a reference that says you will be unconscious in 20 seconds which is still far from "one or two breaths" unless you are a sloth or a whale perhaps. 20 seconds seems a very specific number.