Happy Hanukkah, Merry Christmas, and a Happy New Year from all of us at CoinGeek!
The holiday season is upon us. Whether you’re celebrating Christmas, Kwanzaa, Hanukkah, Yule, Festivus, Rizal Day, Unduvap Full Moon Poya, or Boxing Day, we want to wish you a happy festive season.
This season gives us a great time to look back on the year and reflect on the ups and downs, contemplate what we did well in the past year that we can continue on in 2023 as well as where we may have lost our footing and need to readjust in the coming year.
For the digital asset industry, 2022 was the year of reckoning. After years of hype and pumping, the wheat was finally separated from the chaff, and as we’ve seen throughout the year, you can only go so far by selling people pipe dreams. The dominoes began to fall earlier this year with LUNA and UST, and they haven’t stopped falling since, with some like Sam Bankman-Fried behind bars for their role in the “crypto bubble” and others like Do Kwon on the run.
Amid the collapse of some of the biggest ‘crypto’ giants, Bitcoin stood strong, defying the odds to have an even better year than it did in 2021.
While other chains still struggled to scale, and some even switched to new consensus mechanisms that favored a few oligarchs, Bitcoin SV kept setting and breaking scaling records throughout the year, all while maintaining transaction fees at their lowest in the market.
In April, BSV set a new world record with 10 million transactions in a day—more transactions than most top chains combined. It went on to break this record and set a new one at 35 million transactions in August. The fees stayed at $0.00015 on average. Satoshi still believes we can do even better, though.
The ecosystem saw most of its apps have a great year and solve some of today’s most pressing challenges amid the ‘crypto winter.’ It also saw several new applications spring up as more developers continued to leverage the most scalable blockchain network in the world.
The Bitcoin community congregated over the year on various events, including the massively successful BSV Global Blockchain Convention in Dubai.
The coming year is poised to be better and bigger than ever for Bitcoin. With the blockchain industry being cleansed of its pumpers and scammers, it will be more conducive for developers and applications which are solving a challenge on Bitcoin.
But that’s for the next year. For now, it’s time to be merry, be with loved ones, relax and be grateful for all the good fortune in our lives.
Happy holidays from all of us here at CoinGeek; a Happy New Year ahead, and may the odds be ever in your favor.
Watch: Seasons greetings from Calvin Ayre—and get ready for big things in 2023!
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.