There is a lot going on in the Bitcoin ecosystem right now. So much that it is sometimes hard to keep up. There are multiple scandals popping up constantly – OneCoin is being sued by an investor after it was revealed that the cryptocurrency was nothing more than a Ponzi scheme and another fraudster used crowdfunding investments to purchase Bitcoin Core (BTC). As scandalous and embarrassing as these two are, though, they still pale in comparison to what has been making crypto headlines every day for the past week. The Bitfinex/Tether debacle, which has now potentially ensnared Binance, is taking center stage and shows how the top cryptocurrencies are apparently willing to play their own games in order to maintain their control and positions. All the top cryptocurrencies – except one.
Bitcoin SV (BSV) has stayed its course, ensuring that the original Bitcoin stays alive. While everyone else goes off to create their own crypto solution, ignoring the fundamentals of digital currency established by Satoshi Nakamoto, BSV is proudly not veering away, understanding completely what’s at stake.
To that end, BSV has had to suffer in certain aspects. It hasn’t seen the monumental price increases that many incorrectly associate with a crypto’s true value. In fact, BSV is now trading below its utility value, but this is still not a foreboding of rough seas ahead.
BSV is doing what no other digital token is doing. It is scaling to levels that BTC and Bitcoin Cash (BCH) developers said weren’t possible or weren’t needed on an active blockchain. However, the ability to scale results in BSV having real, tangible utility value. By contrast, those digital currency platforms that are not scaling – including BTC and BCH, among others – have become 100% speculative offerings. As such, they are all subject to the whims of traders and could crash to almost zero at any time. This has already been seen on more than one occasion.
The surest guarantee against speculative trading is a utility token. This translates into BSV being the only safe haven in the current uncertain environment and the only alternative that is safe from tanking as a result of the Binance and Bitfinex fiascos that are sure to turn the crypto market upside down.