Ryan X. Charles, CEO of Money Button, recently made a trip to Arizona to participate in an event put together by DCG, a major source of innovative funding for blockchain and cryptocurrency companies. The conference brought together players from across the blockchain industry, including established entities and those who are just getting their feet wet, and Charles made sure he interacted with as many of them possible. Based on those conversations, he put together a short video on where he envisions blockchain going and how Bitcoin SV (BSV) is shaping the landscape.
In light of the input and feedback Charles received, it has become apparent that BSV is now in a better position to be used as a blockchain and digital currency than any other option, including BTC. This is supported by other evidence, showing that BSV daily transaction volumes are routinely greater than those associated with BTC.
One of the biggest reasons for this is because BSV has done what no other blockchain project has been able—or willing—to do. Absent an in-depth comprehension of how Bitcoin was designed, despite an extensive whitepaper on the subject, the majority of the crypto projects veered off course from the original Bitcoin and none is capable of handling the level of activity that is needed for it to be a viable long-term solution.
As Charles points out, all of the limitations associated with blockchain can be solved with big blocks, which is exactly what BSV is introducing. Just like there is no limit to scaling on the Internet, there doesn’t have to be a limit to scaling on a blockchain, which is why the Genesis program on BSV is helping to create the ideal public blockchain.
There are now three trains of thought surrounding the Bitcoin ecosystem, according to Charles. The first centers on those individuals who recognize the power of the blockchain and who don’t care about how things work “under the hood,” which is fine—most businesses operate this way. They want to be able to click on a button and get the response they desire without worrying about how that response is technically delivered.
The second group is comprised of those who have been fooled by the information put out by projects like BTC and Ethereum, but who are finally starting to see the light. They are coming around and realizing that those projects are not living up to their hype and are not able to deliver on their promises. A look at BTC on the surface shows this, as – over two years later – the Lightning Node is still not ready to handle large amounts of transactions.
The third group is most likely a lost cause. These are those suffering from cognitive dissonance who, no matter how much evidence is presented that proves their beliefs wrong, they’ll never be willing to change their opinion. These “BTC extremists,” as Charles calls them, are a dying breed and will ultimately be left out in the cold, wondering where they went wrong. One of the most prominent of these is Blockstream, which has been ostracizing itself from the Bitcoin community and which will more than likely not be around five years from now, at least not under its current structure.
In addition to its ability to manage large amounts of data, the BSV blockchain also provides a network with the lowest fees. This is why different solutions like Twetch and Streamanity adopted BSV for their operations and why they are becoming so popular. It’s also why a new music platform, Buskon, is on the BSV blockchain.
As highlighted at the recent CoinGeek Seoul conference, China is witnessing a huge explosion of projects being developed on the BSV blockchain. BitMesh, CityOnChain, MetaGlue and much more are now available because of BSV and, as the blockchain evolution continues, the world can expect to see a lot more activity.
Watch Ryan X. Charles’ video, What other cryptocurrency companies think about Bitcoin SV:
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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