Emirex, the Dubai-based digital currency exchange, has added a new Bitcoin (BSV) trading pair. You can now trade BTC/BSV via Emirex. This is a positive event for the Bitcoin ecosystem; when it comes to trading, the more liquidity an asset has the better. With Emirex providing a new onramp/offramp for BSV, the liquidated pool increases and traders have a new avenue to unload their worthless BTC for BSV, which many believe is undervalued.
— EMIREX (@EMIREX_OFFICIAL) October 20, 2020
Trading trash for treasure
BTC has no utility, what started as a good idea in 2009 has become warped by software developers making un-needed changes to the protocol. The fees on the BTC network are too high for BTC to be used as a form of payment. As of October 22nd, an item that only costs $1 could end up costing you roughly $4 because the current transaction fee on the BTC network is $2.80 per tx. In addition, long confirmation times result in your payment being settled roughly 1 hour from the time you make the transaction; both of these obstacles make BTC an un-ideal form of money.
On the technical side, BTC’s artificial block size limit of 2mb makes it impossible for developers to write script on the BTC blockchain. Which makes it infeasible to build apps and services on top of BTC.
Fortunately, Bitcoin (BSV) follows the Bitcoin white paper to a tee and does not have artificial block size limits. BSVs unbounded scalability, low transaction fees, and fast settlement times make it practical for enterprise-use.
Instead of merely speculating on BSV, businesses and individuals use BSV each and every day to store data to the blockchain and to send micro-payments for goods and services. The fact the BSV has real-utility, unbounded scalability, and most importantly, the ability to optimize business operations, makes the BSV ecosystem rich with activity and allows Bitcoin to have longevity.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.