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Bitcoin: The Endgame

Crypto is going through a typical bubble cycle. After euphoria we have capitulation, despair and then a resumption of trend at a more sane pace.

Looking back at history we can see this bubble cycle play out again and again. As the legendary investor Jesse Livermore said:

“There is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.”

What surprises me is the amount of pundits who say BTC still has a shot at reaching all time highs again. While it’s true Amazon lost over 80% in value during the dot com crash before becoming a $1T dollar company many companies that had much higher valuations than Amazon during the crash are no longer around.  The difference is Amazon had a viable business model, great leadership and a roadmap beyond the hype. I can’t say that about BTC.

The darlings of crypto 2 years ago are mostly faint memories. Today’s market leaders may not be top 10 coins by mid 2019. There comes a point where not only does the hype die off but the market learns and applies hard lessons to future valuations.

Pundits like to point back to times Crypto had a huge decline and then posted new highs. Those were different times. Crypto was not on CNBC 24/7 during those runs. The market has gotten smarter. The pundits have not.

Gone are the days of a whitepaper and a website generating millions with an ICO in 24 hours. That’s never coming back in Crypto. I mean it. NEVER.

Yet many people are buying shitcoins like it’s 2017. These people lack decorum and will have their funds liquidated post haste.

What matters now is adoption. Real world users with real world use cases. I’m not talking about credit cards that debit your Crypto balance or being able to buy Crypto via Square. That’s the status quo putting a yoke on Crypto. If that’s our future then Crypto lost.

The bloom is off the rose. 2019 will be the year Crypto proves itself. Bitcoin Is Dead. Long Live Bitcoin.

Taking this criteria what looks good? What coins have potential to step into that role? What does it take to fulfill that role? Who are the leaders to watch?

I’ll make it easy for you. Only one coin has a roadmap and has taken the first steps towards that future. Bitcoin SV (BSV).

In this future I’m talking about companies using Bitcoin as a commodity ledger. Using Bitcoin smart contracts to execute business processes, loans, logistics, escrow and payments. Using Bitcoin as the way to assign value to every piece of information in the world. Once we can value information effortlessly our information becomes more valuable. It’s a repeating and self reinforcing cycle.

Using Bitcoin’s utility inside Bitcoin will change how business is done. One of the things Bitcoin can provide is transparency. In other words, integrity. Imagine Enron or Lehman or AIG if their books were verified on a commodity ledger (this does not mean anyone could view it but it could mean that it’s accuracy could be independently verified). In this example companies could state the hash of their financials publicly via a Bitcoin transaction. Each hash is unique. This hash locks the statement about the data into a public record. Auditors can then verify that hash against the files they receive from the company. New quarterly financials can be posted with a new hash.

The mortgage meltdown happened in part because banks could no longer track all the terrible loans they had repackaged into toxic packages and resold to retirement funds. That would not happen if Bitcoin were tracking those loans.

An immutable blockchain means those firms can’t fudge their numbers. There is no erase. You can only write new data. The audit trail is always there.

Imagine the Pentagon held to account. They’ve only lost $7T in taxpayer money in the past couple years and that doesn’t cause a revolution? Bitcoin could stop that with just a few quarterly or yearly transactions.

That’s a game changer.

That’s just the start. Imagine every webpage on the Internet linked to payments in Bitcoin. What has value is rewarded. What doesn’t have value is not. Information becomes our new currency. The fear, uncertainty and doubt that has led to human misery, unfair advantages, economic upheaval and even war is exposed. Truth wins because truth has value.

Now, imagine every component of your car has a supply chain history via Bitcoin. Now scale that to everything.

This is Bitcoin.

So while Jesse Livermore’s quote above is still correct: “there is nothing new in the market” we are now entering a new phase. Jesse is speaking about the speculation phase and he’s correct. Now, we are entering a new phase. This Time is Different.

Bitcoin has shrugged off the pretenders. Now it’s time to really show what Bitcoin can do.

I expect Bitcoin to rally in 2019.

Unless stated otherwise when I say Bitcoin I am exclusively referring to Bitcoin SV (BSV). BSV is Bitcoin and the only crypto that has the ability to scale with a roadmap that includes Metanet and global cash.

If you like this post feel free to tip BSV to: 1EtHhqACn1hTFPQyC9MCAQyNZymTSoUs9o

This post originally appeared on Coinspeak.io

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Up In A Down Market

BSV is ripping higher breaking $100 again and approaching previous local highs. If $120 is taken out next target is $160. This is in a crypto market that is being slaughtered. As I’ve been posting for a few weeks it’s BSV or nothing. I expect the entire crypto market cap to be rolled up into BSV. If not, Crypto is dead.

We have begun the endgame now.

Here’s some calls I made on Twitter and other random highlights:

There’s been a battle between BSV and BAB both of which were born during the hashwar over BCH. Here’s the “Mission Accomplished” BAB moment where they declared victory November 15. Since then BSV has passed BAB in price.

To add insult to injury, there is now a lawsuit announced to sue several companies and individuals for the actions described in this video. I don’t think the lawsuit will go very far but it’s definitely a pain for those named.

Update: TRUE. BSV broke out at .65 and is now > BAB. 70% gain in < 2 days once .65 was broken. Chart below:

Thread below comparing dot com to crypto. I have survived both. This capitulation is a recalibration. This is when you can make real money.

Excellent podcast where Daniel Krawisz corrects the hosts many times as to how Bitcoin works.

Below is a video by Hayden Otto who runs a site called Coinspice. He’s been pro BAB from the start. If you followed his advice 14 days ago you are down over 83%. In an earlier blog post on iBC I recommended doing the opposite. I hope you listened to me and not Hayden.

Throwback to CNBC covering Bitcoin breaking $100 in 2013. This is Bitcoin’s “what is internet” moment. Bitcoin is breaking above $100 again under BSV. This is a gift.

Just for fun, here’s a call on SPY.

How do I survive these forks? How does it work that BSV is at $100 and I’m happy about it. When BCH split from BTC I sold my BTC for BCH at 10:1 ratio. When BSV and BCH split I sold BAB for BSV at 4:1 ratio. So while the price is at $100 I have 40x as many coins. If we have a bull run in BSV …well, you get the idea.

BSV investing is like the quote below. One by one men will recover their senses.

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Metanet Is The Future

Buckle up. This post will take you down a deep rabbit hole.

“Bitcoin is an economic system”. Today I discovered a whole new meaning to this frequently used statement and I’ll share it below. First, watch the clip of this video from 2014:

Craig Wright is talking about Metanet … in 2014! In London last week during this presentation Dr Wright describes Metanet by name:

To recap key points:

  • Bitcoin is a decentralized, trustless, peer to peer system
  • Bitcoin is designed to scale globally
  • Bitcoin is competitive
  • Metanet will be built on top of Bitcoin

With me? OK, here’s more. IPV6 is the future of Internet addressing. Metanet can use IPV6 to address every object globally and then make payments. Per the example in the video, my Coke can have an address. If my can makes it to a recycling center I will have my recycling deposit paid back in Bitcoin. If my Coke can ends up in a river my deposit goes to recycling costs (or I am possibly fined). This creates an end to end economic system where incentives drive behavior and all of it is recorded on Bitcoin. Before you object with a “big brother” scenario the blockchain at scale is still pseudonymous while reinforcing behaviors with value. This is a leap forward compared to systems of today where your data is the product.

In this example Bitcoin remains decentralized, trustless, peer to peer AND creates a system of incentives. Lay this system on top of anything and the possibilities of that system alter dramatically because Bitcoin can now incentivize participants instantly. Behaviors will dramatically shift.

Bitcoin could alter the Actor – Observer bias. This bias theorizes that when we see someone else run a stop light we instantly judge and condemn that person but when WE run a red light we have excuses and reasons for OUR behavior. This simple bias blocks us from seeing our actions truly as others see us. Bitcoin could be that private observer for each of us helping us see ourselves as others see us and acting with a higher level of consciousness/awareness.

Now, let’s imagine Bitcoin is global. The incentives in Bitcoin extend to society. Society becomes decentralized, trustless and peer to peer. Borders fall away. Wars stop. What remains are incentives.

Metanet provides incentives that are decentralized and reward what’s valued. Clickbait dies. Good content flourishes. Efficient systems naturally replace Government bureaucracy.. Waste and grift lose value. Value, in whatever form, is rewarded by others. Truth wins.

Bitcoin has a limit of 21M coins and a distribution schedule that ends in 2140. This is humanity’s chance at a new future and it roughly lines up with our natural resources crisis. Bitcoin / Metanet can order our limited resources in a way that we make it past current projections as a species. We’ll either make this transition or we won’t. I shudder to think if we fail this test.

Metanet is the future and it’s running on Bitcoin’s economic system.

Unless stated otherwise when I say Bitcoin I am exclusively referring to Bitcoin SV (BSV). BSV is Bitcoin and the only crypto that has the ability to scale with a roadmap that includes Metanet and global cash.

Song below is sampled on one of my favorite Kanye West tracks, Touch the Sky.

This post originally appeared on Coinspeak.io

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Buy The Blood, Not The FUD

Crypto is careening down a vertical cliff towards a bottomless pit.

Deservedly so.

Yet here I am long Bitcoin (BSV) and sleeping like a baby. Why?

Because with BSV separated from BTC and BCH Bitcoin now has a shot at realizing it’s potential. Bitcoin is shedding the dead weight and growing up.

During the CoinGeek Week conference in London at the end of November many new ideas were discussed including a concept called Metanet. Here’s Dr Craig Wright’s presentation:

At a high level, Metanet is the Internet running on Bitcoin. Imagine loading a webpage and a micropayment is made on Bitcoin. This micropayment provides: revenue for miners to keep blockchain secure, keeps the Internet properly incentivized for what has value vs being forced into servitude to FANG’s algos and potentially begins to create a new economy where things that have value are rewarded and those that do not fall to the side.

This is a wholly new economic model for humanity. Ever wonder how the economy ran in the TV show Star Trek? I could argue Bitcoin is the basis of that kind of economy Pure capitalism rewards value and removes waste.

Only Bitcoin SV can scale to meet this need. The plan is 1TB blocks every 10 minutes. At that level Bitcoin SV can handle all payments globally. That’s something to get excited about.

Another takeaway from the conference is “commodity ledger”. Use Bitcoin as a commodity ledger. Anything and everything on Bitcoin for a fraction of a cent. This adds up to increased adoption and increased value.

BSV is ~$100 at the writing of this post. I expect $1,000 by end of 2019.

All the other coins and their promises don’t stand a chance. If you’re holding any coin except BSV I expect it to go to zero. It’s BSV or bust.

In my last post I said I sold all my ABC coins for BSV. I followed this process. If you choose to do this be careful. You can lose all you funds if you don’t understand what you are doing.


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