As Q4 gains steam I looked back at my 2019 predictions. In hindsight, I could have been more specific with my targets but overall I’d grade myself a B-. S&P can still correct, real estate is getting soft, Gold pumped then retraced, Mueller was a nothing burger, Crypto is a still a mess.
The BSV CG conference last week in S Korea provided a lot of information to digest. There was over 14 hours of video to watch. Here are the links to the videos:
Day 1 content is aimed at developers. There is a table of contents in the vid description. I recommend watching Dr Craig Wright at the 6:37 mark. Dr Wright speaks about Payment Channels which is tech that can be applied to markets everywhere. Think decentralized, secure and publicly auditable NASDAQs and commodity markets with honest brokers. Schwab has commission free trading. BSV will have commission free everything.
Day 2 has more accessible content for the layman. Threshold signatures and the identity service by Pixel Wallet look VERY promising for providing unique and valuable use cases. Again, recommend watching Dr Wright’s keynote to close out day 2.
Something to note, a week after the conference, the day 2 video has less than 4,400 views. It’s still very early in Bitcoin.
As I noted in “Assessing my Next Move“:
BSV is under the $130 level I pointed to as important to watch. BSV is a buy here, but don’t shit your pantaloons if the downward trend accelerates and BSV sits at $80 for a few weeks. Crypto trading is a bad idea. You probably shouldn’t do it.
BSV visited the low 80’s as the market swooned. If you’re not in BSV now, I’d look for the $100 roll to enter on a trade. This one day pump above $90 could be wiped out quickly. If you are setting yourself up for a position before the fireworks in 2020 then any entry before January is likely good.
BSV Mayer Multiple has been in the BUY zone 14 of the past 16 days. pic.twitter.com/syUeToTVTZ
— Coinspeak (@coinspeak_io) October 10, 2019
The entire crypto market cap is ~230 billion. BSV market cap is 1.5B. BSV is less than 1% of the total market cap. I have never seen a more lopsided investment opportunity. The market is extremely irrational but starting to wake up. Only one coins is addressing scaling in a way that provides a path for mass adoption. Scale or die.
Here’s a simple example on scaling, an application called WeatherSV began posting weather data onchain to BSV a few months ago. WeatherSV was roundly dismissed as a gimmick to support a dying chain. Fast forward to today and Preev is now posting market data onchain. The result is BSV is reliably producing larger blocks with more transactions than BTC from two real world applications. What will the doubters say when there are dozens, hundreds or even thousands of apps storing data on BSV?
Given this oversimplified chart I created:
BitCoin economic model in one chart.
High transactions = low fees, competitive mining, secure chain.
Low transactions = high fees, weak miners, insecure chain. pic.twitter.com/avDKla4IMU
— Coinspeak (@coinspeak_io) October 6, 2019
Bitcoin is an economic system. High transaction volume and low fees equal secure and antifragile money with high utility.
Meanwhile in BTC, the Blockstream CSO was interviewed:
Translation: LN is how Blockstream will sell Liquid as Bitcoin 2.0. https://t.co/OoHPsnOH8l
— Coinspeak (@coinspeak_io) October 8, 2019
Blockstream is going full steam ahead betting the future of BTC on Lightning Network as they debate making the blocksize smaller and potentially inflating supply to pay the developers. You can’t make this stuff up.
While I leave open the possibility I could be wrong as each day passes it looks like BTC digs their hole deeper and deeper.
The debate rages on in Crypto. Frankly, I’m very tired of it. What is happening in reality is BSV is scaling while the others delay. Let the Twitter wars rage, I am looking at what matters.
Looking forward, the 30 day extension in the Kleiman v Wright court case to negotiate a settlement should be expiring soon. This could be a big event. And, in January 2020 allegedly Dr Wright will come into possession of up to 800,000 BTC which he has previously stated would be exchanged for BSV. Even if both of these events are a bust BSV continues to scale on chain.
Scaling is what matters. BSV is scaling.
BSV is an incredible (but not risk free) opportunity.