iBankCoin
CAPS LOCK IS CRUISE CONTROL FOR AWESOME
Joined May 7, 2012
160 Blog Posts

RIP My Enemies

Let’s take a look at some data about BTC and BSV. I have no doubt my new favorite commenters will counter this info with their own charts. Let the games begin.

BSV can do everything BTC can do and more yet it’s 825 times more expensive to transact on BTC. This is why products like Twetch are being created. Less than a penny fees are necessary for microtransactions. With BTC fees between 30 cents and a dollar it’s cheaper to use a credit card in most cases. BTC brings no unique utility as peer to peer cash. So the narrative shifts to Store of Value, but with near zero utility! Also a laughable premise. BTC fails when objectively compared to BSV. It’s been consistently cheaper to transact on BSV by 100x or more since the beginning.

BSV is in red and BTC is in yellow. BTC capped at 1MB so nearly a flatline in transactions. Daily transactions increasing over time with peaks during stress tests above BTC. You’ll notice BTC is practically a flatline. When there is a spike in BTC transactions fees skyrocket as people compete to put their transactions towards the front of the line. It’s like yelling fire in a crowded theater. Some people are going to get burned having to wait hours or pay higher fees. BTC is digging it’s own hole. The 1MB blocksize limit is a cap on transactions per block. BSV will be passing BTC in transactions by 2020.

Blocksize chart, again BSV in red. This is an exponential chart so that spike at the beginning is a 10x difference. Again, BTC is limited to 1MB blocks. BSV has mined blocks over 200MB and is scaling towards 2GB and then unlimited. It would take BTC ~33 hours to mine the 200MB of transactions BSV mined in ~10 minutes.

Scaling is the only way Bitcoin can work for the world. It’s an inconvenient truth for BTC their scaling plans are garbage and the Core devs have no real interest in scaling because it threatens their Blockstream products. Note the name of the Blockstream whitepaper: https://www.blockstream.com/sidechains.pdf    SIDECHAINS. Blockstream, which controls BTC, has no interest in BTC utility improving as it damages their potential revenue from Blockstream products.

Here’s the Blockstream CEO suggesting those who want to use Bitcoin open a tab instead. LMAO you can’t make this shit up.

So the layman may ask, with all of this why does BTC trade for $10,000. Good question.

Name branding is a powerful thing. During all these forks the name “Bitcoin” followed the coin with the highest price. There’s been years of pure shit to deal with in the battle for the Bitcoin name ever since. Few can understand the technical differences between coins. This is why I post to iBC, to blow up the bullshit about BTC having anything to do with Bitcoin. The campaign to discredit anyone who threatens BTC has been going for years. It’s a lesson in social media manipulation. BTC trolls are loud and numerous. Looks like we may have a few of them on iBC now. Hi guys! =)

Here’s a Daily BSVBTC chart. Yes, BSV is 1.3% the price of BTC. Incredible stuff given the charts above. This is the opportunity I’ve been pointing to for nearly a year. BSV works and is cheap AF. Do you know when the opportunity of a lifetime is no longer an opportunity of a lifetime? When the masses start to see what you see. You have to be willing to put yourself out there. I’ve done my homework and you know where I stand.

While I don’t put much faith in short term charts in this market I will point out that the judge’s unflattering statements about Craig Wright had very little impact on BSV price. BSV is not Craig Wright and vice versa. He is influential yes and a major whale holder but the technology matters more. Very bad news for Craig Wright doesn’t mean bad news for BSV. Let the haters hate.

Ichimoku cloud shows a positive TK crossover below cloud while cloud is narrowing. Still a bearish trend but pointing towards a possible reversal. A TK crossover failed recently in late June. All in all, I think all coins stumble into January 2020.

I don’t put much faith in TA for coins at the moment. There is so much FUD and misallocation of capital in coins it’s silly to point to a single chart and draw any conclusions. I think for now fundamentals matter more than anything. We are in that phase of the market where the hype has died and people start to look everything rationally. However, I’ve covered some fundamentals and snapshot of TA for your iBC pleasures.

I posted the tweet below in late 2017 when exuberance was ramping daily.

Given I posted this chart at the peak of BTC I think you could say I have an idea of how this market works.

With that said, yes BSV is only 1.3% the price of BTC. It’s incredible given the functionality of the two coins, their current capabilities and the roadmaps. This is an opportunity. Even if you own BTC you could trade 1.3% of your BTC to have a 1:1 hedge. You’re crazy not to do that.

You can take my posts as the rantings of a BSV fanatic. Maybe. I do my best to eliminate bias and I reset and reevaluate often. Every time I come back to BSV. It’s BSV or bust.

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2 comments

  1. toplel_sloth

    I’m sensing an uptick in posts (which is good) and also combativeness (not so good). I’ll make this brief.

    BSV is cheaper because, comparatively, no one currently uses it! Much like the Chinese building ghost cities for a population that hasn’t materialized, BSV’s central planning has put the cart before the metaphysically-challenged horse. Only when BSV has the user adoption and transaction flow that BTC has does this become relevant. Also, where can I spend my BSV? It has a very small fraction of BTC’s vendor acceptance.

    Sacrificing decentralization for scalability is a Faustian bargain. What good is Bitcoin if no one can verify their own transaction and the shared ledger? I’d rather use the Visa or Paypal network, which offers instant and practically free transactions, provided I’m willing to trust them. They can process a limitless amount of transactions!

    Your assertion that Blockstream controls an asset currently valued at $172B by exponentially more unique wallet IDs/users is demonstrably false, as many of their proposals have been shunned and excluded from BTC updates. There is no final authority in BTC other than a majority of users.

    Again, I wish BSV (still hold mine from the hard fork) well as it does present an alternative method of moving away from fiat, but one that sacrifices decentralization. I’m not advocating holding only BTC, I (and the market) just think it’s the better solution. Satoshi is dead and his vision is irrelevant. He was proven wrong before and will likely be proven wrong again (i.e. 1 CPU=1 vote) The community evolves and invoking an appeal to the authority of an anonymous ghost is the brand of charlatanism that Bitcoin was designed to destroy.

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    • CoinSpeak

      You’ve just crossed from someone who may have something to say to a BTC parrot.

      BTC is expensive because the 1MB cap gets hit in busy times and people are paying to boost their transacction rather than wait. This does not happen in BSV as proven in stress tests because BSV scales. BIG BLOCKS.

      MUH RASPBERYY PI. Seriously, if you don’t gets that’s the stupidest argument then you’ve done zero thinking for yourself. Bitcoin is verified by a chain of digital signatures, which SegWit breaks, not by a low powered $45 computer. Your Pi performs zero proof of work in a proof of work system. It’s bait. You’ve fallen for it. It’s ok, lot of people did. Now, realize that mistake and stop propagating that idiocy.

      For decentralization, once again, Bitcoin is competitive. Big companies are going to compete, this eliminates centralization. No one needs a Pi to keep the network honest. Sorry, your $45 computer makes $45 worth of difference in a global monetary system of Trillions of dollars. It’s actually less than .000000000045. It’s ZERO.

      I did a post over a year ago on the three branches of Bitcoin. Go look it up. Majority of users is laughable. Oh no guys, the twitter army is here with their raspberry pis to kill off banks and fortune 500’s. Right.

      And stop wasting my time. If you respond here have an original thought, not a rehashed debate from 2 years ago.

      Have a nice day.

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