Episode 25 of the CoinGeek Weekly Livestream season 3 saw Kurt Wuckert Jr. talk to a special guest Gareth Soloway from VerifiedInvesting.com, about current market trends. The episode wasn’t specifically BSV blockchain-focused, providing fascinating insights into what’s happening in the wider economy, whether we’re headed for a recession or more. Wuckert also answered plenty of BSV-related questions, too.
Soloway gives his thoughts on various assets and the economy
Soloway begins by saying he’s nervous about the economic data he’s seen. Rates have risen quickly, and he doesn’t believe there’ll be a soft landing. Rates were 1.5% a year ago, but they’re 5.25% now. People are spending the savings they accumulated during the pandemic, and they’re almost depleted. Things like car payments are at record highs, and a recession is coming sooner or later.
Looking at some specific financial assets and instruments, Soloway says BTC is reaching a buy zone for those interested in speculation. His technical analysis shows an upward trend line, and if the line holds, price action should be good. If it doesn’t, that’s bad.
Wuckert asks about AT&T stock which is currently sitting at a 20-year low. It’s an old company with 8% dividends, and he wonders if it could be a buy. Soloway says it should be OK despite a recession and may fare better than many other stocks. He has some concerns about a lawsuit on whether the company is liable for lead phone lines, but he does like companies that have gone out of fashion but may come back into it. They look at a few other stocks like EMPH, Uranium Miners’ ETF, and Mattel and analyze them in light of TA and FA.
What about the BSV blockchain? It’s at a support line at its current level. Soloway says if it holds $35, it should be good. However, if there’s a recession, all digital currencies will take a hit, and the BSV is no exception. Soloway’s general advice for anyone speculating on digital currencies is to dollar-cost average and look at coins linked to projects with sound fundamentals.
What about real estate? Soloway says the wealth effect is the biggest thing here. Real estate is starting to surge again, but he’s not bullish on it. Data shows consumer confidence is high among the wealthy and low for everyone else.
Can blockchain and Web 3.0 disrupt the telecom industry? Soloway says he’s not an expert, but given all the innovation happening, there’s likely to be some impact.
Are we in a bear market for the foreseeable future? Soloway says yes, but he reminds us he could be wrong. He has been surprised by the upside in stocks, but he still thinks it’s a short-term surge in an overall bear market. The moves to the downside will be “ferocious and sudden.”
Wuckert answers viewers’ questions about the BSV blockchain and more
After Soloway bids the CoinGeek Weekly Livestream goodbye, Wuckert answers some viewer questions. Here’s a quick recap of some of them. Don’t forget to watch the stream to catch up on the rest.
Q. When will Wuckert give Soloway the BSV elevator pitch?
Wuckert repeated that he’s a big supporter of the technology and uses BSV to measure whether blockchain will ultimately be successful. However, that isn’t necessarily everyone’s interest, and Soloway is more interested in trading and price action. That said, he has communicated with him off the air, and Soloway knows his stance on BSV.
Q. Are inflation numbers being manipulated?
Wuckert replies in the affirmative. The official way they have been measured has been changed more than once, so they’re definitely being massaged. Is this for nefarious purposes? Nobody knows. Macroeconomics is much harder to calculate than microeconomics.
Q. What happens to the old chain and supply if Dr. Wright wins regarding the Bitcoin database/file format rights? Will chains merge?
A chain merge is technically possible, Wuckert replies. The BTC database could be run within the BSV blockchain, but not the other way around because of BTC’s bandwidth limitations. We currently have three chain tips out of consensus, which can’t be remerged easily. Dr. Wright has been adamant that the truth is the truth even if nobody knows it, and he has held his ground that Bitcoin has an absolute definition, even if that’s not a popular opinion. Compromising on fundamental things is a slippery slope, and he has held his ground admirably in the face of immense opposition.
Q. Is Bitcoin like other labor-saving devices?
Yes, it’s a tool that can automate many things, so it could be thought of in this way.
Q. Did Calvin Ayre buy nChain today?
Not quite—he did take a large position in the company, though. Ayre has repeatedly shown his commitment to the vision of big block Bitcoin and wants this to be his legacy. An example is taking a large stake in nChain at a cost of over $500 million.
Q. Is Richard Heart going to jail?
Possibly, but we’ll have to see if he is found guilty of the charges against him. Wuckert doesn’t like Hex and thinks the way Heart has done things is absurd.
Watch: Gareth Soloway talks on digital investments on CG Livestream Special
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
