Joshua Henslee

Joshua Henslee: People will get into BSV not for the price, but for its utility

Prices of digital currencies like the popular ones, BTC, ETH, and SOL, may be on the top of the market cap table now compared to Bitcoin SV (BSV), but for Bitcoin developer and influencer Joshua Henslee, price will not be the thing that will keep people in the long run.

Speaking with CoinGeek Backstage’s Becky Liggero on the sidelines of the Unbounded Capital Summit 2022 in New York City, Henslee said prices nowadays border on speculation rather than utility—the thing that pushed Dr. Craig Wright to invent Bitcoin and the same thing that BSV is advocating for.

“Here (BSV), there’s actual usage,” Henslee said, stressing that once users realize the significance of having a digital asset with actual utility, that is when they will come on board.

“I feel that the price will rise before the demand is, just because of the speculative nature, and that will get people in, but it’s not into the tent; it’s more into this new tech that they can actually use,” he pointed out.

Henslee explained that BSV can be utilized by paying for goods and services on apps it caters to even if its price slumps, unlike other virtual currencies in the market wherein holders are left with no option but to sell.

While on the topic of utility, Henslee was quick to point out the massive contribution of IPv6 in the space, which Dr. Wright and IPv6 Forum President Latif Ladid are pushing forward, such as securing payments made on-chain.

“If you imagine every device being able to get a new address and then have a unique identity on the blockchain, you need massive scale to pull that off,” Henslee said, but admitted that it would likely take a long time before IPv6 is adopted globally.

Apart from running his YouTube channel, where he discusses the latest happenings in the Bitcoin industry, Henslee said he is working on the BSV-powered app Windbell, where users can customize their library by creating bookmarks from their chosen sources instead of taking suggestions from algorithms.

Watch: Blockchain Venture Investments: Driving Utility for a Better World

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.

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