This week on CoinGeek Weekly Livestream AMA: Solana, TokenSwap Coin and CoinGeek NYC

This week on CoinGeek Weekly Livestream AMA: Solana, TokenSwap Coin and CoinGeek NYC

In an ‘Ask Me Anything’ episode, host Kurt Wuckert Jr. discusses a multitude of topics including Solana, TSC and the upcoming CoinGeek conference in New York City.

This week’s CoinGeek Weekly Livestream kicks off with a discussion about Solana, a Silicon Valley blockchain backed by Andreessen Horowitz. Recently, its developers shut down the network in response to what it announced was a “large increase in transaction load which flooded the transaction processing queue.” As explained on their official Twitter account, the network started to fork due to the lack of prioritization of network-critical messaging.

Kurt was happy to share his thoughts on the recent mishap experienced by the much-hyped blockchain. While he recognized Solana’s parallelization of transactions, he is skeptical about the network’s ability to scale. “Solana has that hard limitation to how much they can scale without completely reengineering the network,” he points out. Kurt also explains that Solana’s move to reboot the network is a strong indication that they are too centralized. For his part, the network clearly has issues in governance and scaling. “If they’re already getting DOS attacked and the whole network unwinds, well then, they’re already not fast enough for what they need to be.”

A dialogue on TSC, TokenSwap’s native exchange token happened next— a topic Kurt recently wrote about. On the livestream, Kurt mentioned having acquired a good quantity of TSC tokens when it launched September 14. I snagged a chunk of it because it’s the first true DeFi platform built on Bitcoin SV and it works absolutely delightfully.” The TSC token which also doubles as an exchange allows people to make money by trading, providing liquidity and yield farming. The same concept exists in other blockchains and can be compared to the likes of Uniswap of Ethereum and the BNB coin of Binance, Kurt further explains.

From here, a discussion about the recent price action of BSV took shape. As Kurt explains, the “zigzag” price on the minute chart indicates margin exchanges which means, “They’re forced to close shorts in order to actually take in the BSV so that they can send it to you, they’re basically staking it as collateral in order to open margin trades against it.” Kurt implores everyone to withdraw their BSV from centralized exchanges like KuCoin, Bitfinex and Huobi, Okex and Coinbase. “You’re BSV on Bitcoin and other exchanges are being used to short BSV if you withdraw your BSV, they need to buy the BSV to close the short in order to give you your money back.”

The episode would not be complete without a mention of the fast-approaching CoinGeek conference in New York City happening this October 5 to 7. With the pandemic in place, Kurt explains that the New York City government has issued a mandate that requires all event attendees to be fully vaccinated and provide a vaccination card upon entry. He apologizes to those who are unable to attend because of it and clarifies that it is not a CoinGeek mandate, but a city government requirement.

For the most part, Kurt looks forward to the presentation of nChain CTO Steve Shadders who in the past CoinGeek conferences have always delivered astonishing technical updates on the BSV network. Shadders will be presenting on day one of the conference happening on October 5. 

If you haven’t registered yet, get your tickets here.

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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