Joshua Henslee: Negativity in BSV hits all-time high

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Many involved in BSV will have sensed a sharp increase in negativity within the community recently. That’s the topic of Joshua Henslee’s latest video. In it, he explains what he thinks is driving the negativity in BSV and what it means for the future. Watch the video or read the summary below.

It’s all going DOWN

The first thing Henslee notes is that the increase in negativity is happening in tandem with a sharp drop in digital currency prices across the board. However, other asset prices are down too. Those who invest in equities will know this only too well.

Henslee puts this front and center when analyzing why there’s so much negativity in BSV right now. “Folks just can’t handle it,” he says, noting how token price slumps can have a negative impact on the psychology of those who believe in BSV’s future. However, he notes that a few months is nothing in the grand scheme of years or decades.

Those who say Bitcoin has failed aren’t wrong

Henslee addresses a point of frequent criticism from Bitcoin skeptics: that it has failed. He says that, technically, they’re not wrong. After 13 years, Bitcoin has achieved nothing noteworthy. According to Henslee, that’s partly because of the pump and dump mindset and the leaders in the space today. 

“I wouldn’t personally want to be associated with any of these people,” he says.

Henslee states that, unfortunately, the blame for Bitcoin’s failure (so far) has shifted onto two people: Dr. Craig Wright and Calvin Ayre, something he finds “extremely illogical.” He notes that blaming the creator of a technology they’re working on for their own failures is a cop-out. He believes that the reason his own apps haven’t taken off yet is that he’s just not that strong of an entrepreneur, but that he isn’t going to blame Wright or Ayre for this.

That said, Henslee emphasizes that there are lots of great apps with real utility on BSV, and all the creators of these apps have to do is keep them online for long enough for the suppression to end. He believes that they will get picked up and have more users in time. He names Haste Arcade and PowChess as two examples of apps that will succeed in the long run.

“When these tough times come, the only thing to do is keep producing,” Henslee notes.

On the recent BSV forks

If you’re active in the BSV community, you probably already know about recent attempts to fork BSV. He believes that it’s good to let people who are miserable and toxic go from the BSV ecosystem.

However, on the same point, Henslee issues a challenge to the people who want to fork away from BSV. He asks them, “is it right to trash somebody else’s work, but then take it, change a few things, and then act like you did something special and innovative?” It’s a notion he finds hypocritical at best.

What’s the solution to the BSV negativity?

Henslee states that he believes the solution is to be productive elsewhere and to stop focusing on the BSV token price obsessively. He thinks it doesn’t even have to be related to digital currencies. It could be anything else as long as it diverts focus away from the token price.

Overall, Henslee remains optimistic. He sees his own channel growing, indicating that interest in BSV is growing, and he personally knows that lots of great things are being built on the BSV blockchain. “My mentality has not changed,” he says in closing.

Watch: CoinGeek New York presentation, Tokenizing Equity & Debt Instruments