Latest satoshi News

Digital assets—back in the days called “cryptocurrencies”—like Bitcoin SV (BSV), BTC or Ethereum are quite hard to measure concerning their value. When BTC hit US$10,000 and after that even US$20,000, people lost their minds. Not because of joy or regret over buying or selling at a certain time, but because of the fact that BTC was not measurable anymore. Bitcoin and USD valuation comes down to one simple question: what is an ideal, realistic or fair U.S. dollar price for 1 satoshi? Before one looks at US$10,000 per coin, one should pay attention at the number 10,000 from other angles first. What digital asset actually has 10,000 users? What digital asset has 10,000 transactions per month, day, hour or even second? Users of digital assets matter, apps don’t I am not going to list all Bitcoin SV driven apps here for a simple reason. In the past years, the digital asset market with its different ICO projects has flooded our minds with applications that were announced to be build or that actually were built using blockchains. However, to build an application is not hard—generating users to actually use it is. Remember BTC proponents posting hourly Twitter updates on merchants accepting BTC as a payment method? Sounded like adoption, looked like adoption, was the opposite of adoption though. Nobody actually used BTC for their daily life to pay things off, even though merchants accepted it here and there. Due to the “store of value” and “digital gold” mentality in BTC, people rather spent their fiat money. So BTC could easily generate applications in the form of merchants accepting BTC, but was not able to bring users to make use of BTC at all. Do not throw apps using blockchain at me, show me numbers of users instead. Real users of Bitcoin Let me first get one thing straight about the users of digital assets such as Bitcoin SV (BSV) or BTC. Users of digital assets are not people on Reddit or Twitter, nor people in mental decay trading on “cryptocurrency exchanges.” Posting on Reddit or Twitter about digital assets is posting about digital assets, not using digital assets. Trading digital assets on shady exchanges is trading digital assets via an exchange software, not using the digital assets themselves. A user of Bitcoin is defined as someone who generates a transaction on the Bitcoin blockchain. Everything happening offchain is no direct use of Bitcoin. Bitcoin SV’s current user base How to measure the user base of Bitcoin SV though? You cannot tell by transactions alone, as one transaction surely does not equal one user. For the same reason the number of wallets being used or being active fail to let us draw conclusions about the actual number of users behind the wallets. Trading volume on exchanges is no measure stick either. We do have some numbers of Bitcoin SV users though: Money Button, a user friendly Bitcoin SV service provider, right now already has 150 active businesses using it. Keep in mind that Money Button in its current form has been around just since late 2018. It is not hard to imagine Money Button serving 10,000 businesses in a not too distant future. More than 1.3 million button swipes were already done via Money Button, exponentially growing. The famous wallet providers Handcash and Centbee have not commented on their user base so far, however their competitor RelayX has and showed at CoinGeek London conference a user base of more than 3,000 users. Keep in mind that Handcash and Centbee have been around for longer than RelayX. They should be at around 3000, too or way more. Twetch, the Bitcoin SV driven social media platform, has recently reached 10,000 users though. The people using Twetch are actual Bitcoin SV users, as any interaction on Twetch costs satoshis. So, will Bitcoin SV reach 10,000 in users? Already happened with Twetch in no time. Bitcoin SV’s current transactions Will Bitcoin SV reach 10,000 transactions per day? Good one. We already are constantly between 300,000 and 500,000 per day at this moment. This is remarkably more than BTC has in transactions, and way more than BCH. What about 10,000 transactions per hour then? Going with “just” 300,000 transactions per day we are at 12,500 transactions per hour. Bitcoin SV moves. Are 10,000 transactions per minute possible? Boring. 10,000 transactions per second then? At CoinGeek London 2020, EHR Data Inc.’s representatives laid out their plan to make use of Bitcoin SV concerning health data. They were very specific about the number of transactions processed on Bitcoin SV doing so: “That’s going to generate 16 billion to 32 billion Bitcoin SV transactions. So when you look at those numbers, right, it’s an amazing rate, we’re talking 5-6 thousands transactions per second, right? So it’s huge, and that’s why we went with Bitcoin SV.” Repeat that: 5,000 to 6,000 transactions per second—and this is just EHR Data Inc.’s data alone, any other similarly big player would add another huge amount of transactions on top of that. 10,000 transactions per second is pretty easy to reach for Bitcoin SV. Wake me up when we 100x that number. Bitcoin SV in USD terms We know why you are here. You want to hear about US$10,000 per Bitcoin SV (BSV). First of all: what is an ideal, fair or realistic USD price to be able to write onto the one and only public ledger? I have no answer to that yet. It is safe to say that the ability to put your stamp on the Bitcoin SV blockchain is worth something. The more businesses and customers, even governments make use of the public ledger, the more demand there is for each single satoshi. You are not born with a right to write onto the public ledger. BTC was able to reach up to US$20,000 for some moments. However, this was not due to its ability to serve as a scalable public ledger. As BTC cannot and does not want to scale at all, it has no utility, so the price spike in early 2018 was just speculation. That is why the price has since then dramatically dropped, as speculators took their profits and dumped their BTC on those who were late to the party. Do not look at Bitcoin SV’s USD price valuation from a BTC-historic perspective. Bitcoin SV and BTC do not even compete. They serve different functions: Bitcoin SV is about utility, BTC is about diverging as far as possible from the original Bitcoin white paper. Keep in mind that Bitcoin SV is—besides other reasons—in existence to perform microtransactions. Imagining Bitcoin SV at several million USD per coin (to be more specific: per 100,000,000 satoshis), as BTC proponents do with BTC, could undermine its utility in micro transactional terms “a little.” For example: If we were at US$5,000 per satoshi (!), how would this valuation work concerning micro transaction? But then again, processors (back then called “miners”) can serve you processing for less than 1 satoshi per Byte. It is confusing! One Bitcoin SV (BSV) equals 100,000,000 satoshis—you can transact a lot owning these. You can literally be all over the public ledger for a while with that amount. Remember the EHR Data Inc.’s plan to use Bitcoin SV. They are not going to buy satoshis to sell them later on for more USD. We are not attending BTC summer camp here. EHR Data Inc. will acquire satoshis in order to be able to write onto the Bitcoin SV blockchain—it is called utility. As there is no substitute to Bitcoin SV, each satoshi is scarce by the lack of substitutes, and even more scarce by the fact that there is a finite supply. US$10,000 is possible for 100,000,000 Bitcoin SV satoshis. It sure is possible. It could still support micro transactions with this USD valuation, especially taking into consideration the role of digital asset processors in the setting of transactional costs. So again, what is an ideal, realistic or fair USD price for 1 satoshi? Anyone?

Latest satoshi News

Bitcoin SV to reach 10,000 soon?

Look for ‘Satoshi’ in 2019 Oxford English Dictionary