The recent FTX debacle and the brutal crash of the BTC price brings attention to the person who has been predicting all this for years. Dr. Craig Wright, the inventor of Bitcoin, has warned the digital asset field about how corrupt and counterfeit the “crypto industry” is. In an article from 2019 titled Encoder Flim FlamDr. Wright stated:
Unfortunately, every new technology opens up opportunities for the Flim Guy and the Night Singer. It’s no different with my technology and what people have done with it. Over time, Bitcoin will change the nature of these opportunities, but it will take time. Right now, even what is being sold as bitcoin is a cheap copy. The Night Singer is nothing new during the South Sea Bubble of 1720, scammers were selling shares of stock. A form of securities fraud involved pump-and-dumping inflating the price of an asset using false and misleading positive statements so that the perpetrator could drive up the price and sell his cheap assets at a much higher price.
As prices fall in the digital asset market, people will ask themselves: What have I “invested” in? Is this or that coin even useful for anything? So what is left of it when people withdraw their money?
We can tell you what is left when people withdraw their money – digital asset interest or nothing at all. There is no intermediary regarding the so-called “cryptocurrency”. Either you have a coin that is actually capable of doing something, or you are bought in Ponzi scheme.
BSV blockchain offers the original version Bitcoin as complex cashwith functionality and scalability as envisioned in Bitcoin white paper. Solutions to run CBDCs on top of BSV are being worked on Developed by nChain. The BSV data It showcases all kinds of applications already running on the BSV blockchain with very low transaction fees. This is what we mean by utility of digital assets:
However, the BSV blockchain suffers in public awareness due to an illegal commercial attack. Bitcoin SV is listed on just a few exchanges compared to other digital assets. Since then, the de-listing attack on BSV has been in place At least 2019. The complicit exchanges that are delisting BSV are now sued Specifically for this corrupt practice against BSV blockchain, its developers, businesses and users.
Other digital assets have one remaining “competitive advantage” against BSV at this time: price action. nothing else. As soon as the price action moves downward – as is the case, for example, now – the illusion of the irrational currencies rising in price vanishes. In the end, digital asset investors will either leave the market or look for what Bitcoin was supposed to achieve.
Regardless of the price of BSV, everyone who is building on BSV at the moment will continue to build on it independently of the price action. This is the key. Do you hear this? No matter the price movement! The BSV blockchain provides functionality that remains if the price goes up or down. What kind of function does BTC have when its price drops?
Thanks to the “working” geniuses of FTX, regulators will have a closer look at the digital asset space. It may be useful for the BSV blockchain to be defined as Most law-abiding systems ever created. The original bitcoin helps law enforcement and regulators alike with full traceability and audit functions – while preserving privacy for its broad users.
Why the famous economist George Gilder called the BSV blockchain An example of the information economy? Because he knows. As an economist, Gilder understands that an asset needs to have utility – otherwise it is worthless. It is not difficult to understand, but the so-called cryptocurrency market seems to be hallucinating. Dr. Wright has a forecast of the digital asset market in his country Encoder Flim Flam Article:
In 20 years we will look back after the massive crash to come and see one protocol survive. Not a protocol being sold to the market in order to democratize finance, but one that delivers value.
Watch: CoinGeek New York Conference, George Gilder: BSV Has More Transactions Than BTC
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