This is a guest contribution by Michael Wehrmann, Writer at CoinGeek.com. Bitcoin SV has had a tremendous year, proving its utility and skyrocketing in price. Wehrmann makes the case for why it still has a lot of room to go higher. This article first appeared on CoinGeek.com.
There are reasons for Bitcoin SV’s meteoric rise, and digital asset enthusiasts are waking up to the fact that BSV might have another run of this kind very soon.
BSV’s vibrant ecosystem
Right now, there are over 400 projects built on or dedicated to Bitcoin SV:
The latest BSV ecosystem chart is out.
There is a total of 414 projects, and the development rate is 0.8 project per day! Nearly one project being built every day!
— Peergame (@PeergameCom) April 28, 2020
This economic growth is not by coincidence. With its set in stone protocol, BSV is a safe place for developers to work in long term. Businesses choose Bitcoin SV for the same reason: stability. Low cost transactions allow for never seen before micropayment use cases such as seen in Twetch and Peergame.
All the other digital currencies lack a vibrant ecosystem or in some cases do not even have an ecosystem at all. BTC has been propagating their “Lightning solution” for years yet nobody trusts or uses it for obvious reasons. ETH is not able to solve its scaling problems—there is no economy without scaling though.
To be honest, the other digital assets do not even want an ecosystem. Instead, they follow sinister ideas about technical anti-government solutions and therefore anonymous money laundering like money transfers and a “code is law” instead of rule of law society as their vision for humanity.
Other digital assets try to copy Bitcoin SV, fail at it and create chaos for users and investors
Recently, BCH proponent Roger Ver informed the BCH reddit community about the need for a “BCH-like Money Button.” Furthermore, BCH wallet provider bitcoin.com has been more than inspired by the BSV dedicated HandCash app user interface design.
BCH desperately copies Bitcoin SV’s developments. Copying means being a step behind. I have not seen BSV copying other digital currency projects. BSV clearly sets the tone.
At the same time, one of BCH’s “greatest use cases” Purse.io shut down and reconsidered opening up just days later—total chaos, no long term vision. The exact opposite of sustainable economic growth.
What would one expect from BCH price wise with all of that? Zero long term?
The vibrant ecosystem of Bitcoin SV is part of the explanation for the dollar price appreciation of the BSV tokens. People trust BSV for the reasons stated above and prefer it over all other digital currencies.
How Bitcoin SV professionalizes
The BSV sphere does not consist of developers, investors or businesses alone, but shows much greater plans other than serving oneself.
The Bitcoin Association recently published its growth data: 1,500 members joined in the past 12 months alone, 18 global ambassadors work on spreading the true Bitcoin vision and over 80 BSV meetups were sponsored already. The Bitcoin Association has reformed as a Swiss non-profit association to accelerate Bitcoin SV’s growth even further and to broaden its influence aside from specific economic interests of single BSV participants.
Leading blockchain solution provider nChain has recently acquired CREA and signals a headcount of over 120 blockchain specialized developers. You want to professionalize Bitcoin for world wide usage? You need a fleet of developers. nChain has it now.
Visionary BSV dedicated transaction processors such as Mempool and TAAL Distributed Information Technologies Inc. build a whole new blockchain related business model. With Bitcoin SV, the whole “mining ecosystem” steps away from block reward mining alone to mainly transaction processing and other Bitcoin computational services. All other digital currencies except for BSV are totally missing out on this new paradigm and are not even aware of it.
Have a look at the CoinGeek London conference in early 2020. High profile speakers such as Thomas Lee and George Gilder showed up to discuss Bitcoin and digital currencies in general. However, CoinGeek London was not about the token price appreciation at all, it was about business, economy and long term visions. Compare that to other digital currency conferences nowadays. Now you know.
BSV’s meteoric rise is no surprise
Bitcoin SV’s growth translates into price appreciation of the BSV tokens already. Other digital currencies have gotten nowhere price wise over the last several months or even years.
It is due to the fact that their only plan is to lure more buyers into their nonsense coins. No plan for enterprise usage, no plan for real economic adoption. No desire to professionalize, no desire to actually improve people’s lives.
The professionalizing of Bitcoin happens in Bitcoin SV alone. If you spend money in digital assets, you want it to be highly professional at the least. Therefore, people seem to buy BSV instead of other digital currencies.