Let's grant it all. BTC falls, miners don't buy new rigs, t…
Let's grant it all. BTC falls, miners don't buy new rigs, they switch to mining BSV, bigger blocks, more fees, profitable. Fine. I'll give you every step.
Two things still stand.
One — being profitable to mine isn't being money. That tells me miners are paid. It says nothing about whether a single person spends it. A heavily-mined chain can still be a chain nobody shops with.
Two, and this is the one I can't get past — where does all that mining revenue come from? Fees. On what? Data. Logs, files, enterprise writes. So even after miners flood in, it's a wildly profitable DATA chain. So I ask the same thing I always ask: where are the peer-to-peer transactions? Where's one person paying another? Great database. Still no cash.
So whichever road we take — mining, enterprise, a giant building on top — it ends the same place. Where's the peer-to-peer?
Build thinkers, not followers.
Replies
Bitcoin and crypto has already achieved the ability of bypassing traditional rails for payments, which debatably was the whole point of Bitcoin.
It's something Erik Voorhees said recently that I think most people overlook.
Anyone can send a permissionless payment to anyone in the world right now in any number of crypto currencies, including BSV.
Everyday payments are doable, not necessarily P2P but perhaps that comes in time
What BSV could do with is a massive pump in price, not many people give a shit about P2P payments. What everyone needs is more wealth and number go up
A Billionaire who had invested into Bitcoin SV over the years could decide to raise the profile of BSV by simply pumping the price, attracting attention, investors, developers and perhaps elevating BSV to the top
P2P use comes automatically for a lot of services and businesses... Let me give you an example: a few months ago I was looking for an Asian product that I found on IndiaMarket, which is a sort of Eastern Etsy... They accepted crypto but not BSV only because it was unknown... Great moment when it is recognized as the real one and that it works, millions of online transactions are processed on BSV... Then again, the replacement of services that are currently performed by VISA and Mastercard... It's not that people (both buyers and sellers) know how the underlying technology works... So you go shopping and instead of paying via POS on the Visa circuit, the transaction is registered on BSV... and there you have it, an evolution of the service not only for lower costs... But also for any replacements and refunds, it will no longer be necessary to keep receipts because the transaction is verifiable and indelible on BSV...