Hedge your bets, because casino-like speculative trading in the cryptocurrency sector will be over soon. And what will replace these speculative exchanges, according to CoinGeek owner Calvin Ayre, is an exchange model that will be fiat on- and off-ramps into secondary markets for tokens built on top of the Bitcoin SV (BSV) blockchain.
“There’s a lot of confusion around what’ happening with short-term token price, and token price right now is, first of all, a lot of it is artificial, it’s being manipulated by exchanges, exchanges aren’t regulated, a lot of people are getting hurt, and I’m hoping that over the next two years that we’re going to see I think it’s starting already, that governments are going to step in and get some kind of sanity in what’s going on,” Ayre said at the opening of the CoinGeek Seoul Conference in South Korea.
And the end of the day, he said, “long term value only comes from utility.” And as government step in, expect more anonymous tokens to be outlawed globally.
“The real world economy is going to be run by tokens that work inside the law. And BSV as an example not only platform that scales, it’s also dedicated to not changing this protocol which makes it a safer target for developing to, but it’s also designed to work inside regulatory environments,” Ayre noted.
It’s why BSV is the only option in the world today, particularly for application development. BSV, after all, is the only one that currently scales and represent real-world value of some sort—from securities to commodities, or even concert tickets.
“It’s all about scaling. At the end of the day, when you’re looking at these platforms from the perspective of application development whether for startups or enterprises, if it doesn’t scale you’re not going to get microtransactions and you’re not going to be able to create unique business models,” he explained.
The power of scaling takes the center stage at the CoinGeek Seoul Conference, with members of the cryptocurrency and blockchain community gathering at Le Meridien Seoul on Oct. 1 and 2 to discuss all the exciting developments happening on the BSV ecosystem.
“This conference is all about us spreading information about what’s possible on this technology and us wanting people that are involved in some facet or another on these other platforms that have technical challenges telling them that the technical challenges have all been solved here and there’s no need for you to keep over there, stay over there hoping that they can solve them when we’ve got them all solved,” Ayre said.
Read Calvin Ayre CoinGeek Seoul Conference welcome address:
Welcome to CoinGeek Seoul, our fourth technology conference, following our successful events in Hong Kong, London and Toronto. However wonderful those other events might have been, CoinGeek Seoul is unique, as it comes at a particularly extraordinary moment in time.
It’s been nearly one year since the hash war that helped secure the future of Bitcoin, by which I mean Bitcoin’s original protocol, which will soon be locked in place so that companies can focus on development. Early next year, the Bitcoin Satoshi Vision network’s Genesis upgrade will restore all remaining opcodes from Satoshi’s original design, after which the protocol will be locked down. After years of frustration, businesses will finally have a stable and scalable foundation on which to build, and with it the confidence to take risks, knowing that the ground won’t be shifting under their feet.
The past year we’ve seen record-breaking blocks mined both on the STN Testnet (2gb) and in the wild (256mb). The Genesis upgrade will go even further, removing all artificial caps on blocksize, thereby empowering miners to set limits as they see fit in an infinitely scalable environment.
My good friend, Dr. Craig Wright created Bitcoin not as a passive store of value but as a tool. A tool that allows the world to create, to build, to earn and – most importantly – to use. BSV is currently only teasing it’s potential, but in the coming months the world will begin to discover the infinite depths of this potential.
It’s truly an exciting time to be alive.
At long last, the greatest invention of our time is being unchained from its shackles and the commercial world will never be the same. Businesses are being handed a golden opportunity to blaze new paths, to build applications that solve real-world problems through the benefits of blockchain technology, safe in the knowledge that the rules underpinning this technology won’t change after the game is begun.
Given all the disinformation that plagues our industry and the seemingly non-stop emergence of fly-by-night ‘me too’ coins, it’s truly amazing how BSV has managed to achieve such traction in such a short period of time.
It’s easier than ever to buy BSV as more exchanges offer it for trade and sites like BuyBSV.com allow people to buy directly with fiat currencies.
Applications like Twetch, WeiBlock and Streamanity are giving people the ability to earn BSV by creating content that engages audiences. Bypassing traditional social and video channels, content creators are now making money directly from their viewers without the need for middlemen.
And how can we forget Unwriter, who has provided a vast array of tools that allow developers to begin building with BSV both swiftly and efficiently.
Over the next few days, we’ll hear from some of the people behind such success stories, like Paul Chiari, whose on-chain weather app WeatherSV has given us a glimpse into the future of mining profitability. As the block rewards continue to halve, it’s these sorts of apps that will enable continued growth in transaction volumes, ensuring that miners continue to earn a just reward for securing the network.
In the years to come, the continued success of BSV will be down to you, the builders who develop the next killer app, and the investors who empower creators to exploit BSV’s limitless potential.
The next few days here in Korea will prove both exciting and informative. Your mission, should you choose to accept it, is to take the lessons learned here and spread the gospel of BSV through the fruits of your labours. The future is here, now, and you have a role to play. The platform on which we stand is stable and ready to support whatever you want to build and whatever your imagination can conceive.
And so, ladies and gentlemen, architects of the future, I welcome you all to the fourth CoinGeek conference, Seoul 2019.
Watch the CoinGeek Seoul Conference Day 1 livestream here.
Watch the CoinGeek Seoul Conference Day 2 livestream here.
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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