If there’s one tip that tech entrepreneur Calvin Ayre has to give about investing in Bitcoin, it’s that to build not hold.
In an interview with BNN Bloomberg, which took place on the first day of the CoinGeek Toronto scaling conference, the Ayre Media founder talked about what drew him to cryptocurrency and why he’s supporting Bitcoin SV (BSV), the original Bitcoin invented by Dr. Craig Wright—the individual behind the pseudonym Satoshi Nakamoto.
Massive on-chain scaling is one of the key features that set BSV apart from other cryptocurrencies. BSV, after all, is designed to have real utility.
“The main difference of course is that this is the original model that was originally created by Craig and all other ones are variations that have branched off in some direction. But the main difference from a functional perspective is that BSV massively scales on chain and the rest don’t, so it works and the others are dysfunctional. They’re kind of hobbies, if you will. This one is designed for enterprise applications,” Ayre said.
BSV is also regulation friendly, and it’s an aspect that Ayre, who comes from an online gaming background, strongly supports. He notes:
“In my early years in the industry, I was involved in creating gaming, and I was more focused on operation side and I wasn’t really thinking about regulation, and we saw what happened there. In this particular case, what I am is a big proponent of regulation. I actually want regulation, and BSV, one of the reasons why I am attracted to it is because it’s actually been designed by Craig from scratch to be regulatory-friendly. So in addition to massively scaling and being a stable platform following the internet model, so it’s got stability enabling you to invest real application development on top of it, it’s also designed to be regulatory friendly.”
But don’t count on Ayre to give you HODLing tips.
“First of all, I don’t tell anybody to invest in a token as if it’s a stock. I think that’s caused a lot of damage and it’s the wrong way to look at it. If people want to invest in the sector, they should invest in applications that work on top of a blockchain that functions, which today only means BSV because it’s the only one that scales. Without scaling, it’s dysfunctional,” he explained.
For his part, Ayre has been involved in projects that are building on top of enterprise-friendly BSV blockchain. He has also taken CoinGeek Mining & Hardware into Canadian Securities Exchange-listed Squire Mining Ltd., paving the way for the formation of the largest publicly-owned crypto mining operation in the world.
According to Ayre, “The concept is to create a company that complements what Craig is doing with nChain on the IP and application side. It will be doing a complementary service to the entire ecosystem on the hardware side, so we’re starting in mining but we’ve got a lot of other plans coming as well.”
Building applications on top of the BSV blockchain is one of the main focus of the CoinGeek Toronto conference, happening at The Carlu. Tickets to the scaling conference are already sold out, but if you want to watch, the conference will be livestreamed for free on Vimeo.
Watch Calvin Ayre’s interview on BNN Bloomberg Markets: