Joshua Henslee joined the Crypto Bitz show to talk about the trial of the century—Kleiman v Wright—and what it could mean for the BSV blockchain, the Teranode project, how we can bring in more enterprises and developers to BSV, and what the future holds for the space.
Henslee was an ERP consultant before joining the blockchain ecosystem. In 2017, attracted by the BTC price run, he came across the Bitcoin white paper by Satoshi Nakamoto, and “ I’ve been pretty much obsessed ever since,” he told Crypto Bitz. He quit his ERP consulting job in late 2019 to go all in on Bitcoin.
As with every other interview in the space in recent weeks, the Kleiman v Wright trial took prominence. Henslee has previously discussed the case on his own YouTube channel, delving into what the case is really about and what a victory for Dr. Wright will mean for the industry. However, this was in mid-October and the court case hadn’t started yet.
While he believes the facts favor Dr. Wright and he will most likely be victorious, Henslee pointed out that it will be up to Dr. Wright’s team to ensure he conducts himself in the right way. After all, it’s most likely that the jury members have little knowledge of Bitcoin technicalities and will decide based on what they see in court from the two factions.
Away from the trial, Henslee talked about how to bring in more people to BSV, and he believes the answer may lie in price action. While the BSV ecosystem has ignored the price and focused on building, he noted that attracting developers in their numbers will lie in the financial incentives they can get from high BSV prices.
With higher prices, “more money is in the space which means more opportunities, which will naturally attract more developers. If the price jumps, people start looking at it and they see the other advantages. I think that will intrigue lots of people.”
The current trial could be a spark for BSV, Henslee believes: “I think regardless of a win or loss, the price should move. It should go up.”
BSV has had a tough time on the charts. Even when the rest of the market pumps, as it’s doing right now, the price of BSV rarely spikes. When it has surged, it has done so alone and due to developments in its own ecosystem, Henslee noted. This includes when Dr. Wright has won court cases against detractors and when there were rumors that he had accessed the Satoshi coins.
Aside from the price, the tools available to developers to build on Bitcoin SV need to be much simpler to use. HandCash is leading this charge, with its platform being “so sleek and easy to use.”
“I doubt there’s a better crypto wallet in terms of UI and UX.”
Henslee applauded the work that the BSV Node Infrastructure Team, led by Steve Shadders, is doing. He, however, believes that most of the applications using the advanced scaling solutions are on the bleeding edge and there will be pain points on the way.
This extends to the Teranode, a project that’s led by nChain CTO Shadders. Henslee believes that it will change the space, but it’s quite ahead of its time. The BSV space still needs to attract more enterprises, developers, and users to warrant the need for terabyte-sized blocks.
A big criticism for BSV by the entire space is its static price, but Henslee believes that BSV can one day flip BTC. Citing SLictionary’s John Pitts, he reminded the viewers that in 1999, Google was worth 1/1000 of AOL. Today, Google is a trillion-dollar giant, while AOL was bought out for a few billion dollars by a private equity firm. Like how Google eventually won, BSV will flip BTC as it’s vastly superior in its technology and utility, Henslee told Crypto Bitz.
Check out all of the CoinGeek special reports on the Kleiman v Wright YouTube playlist.
Also read the latest ebook, BSV Blockchain as an Enterprise Cybersecurity Framework.
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