18UUbVnDQyadAK2998nNxcaDsjscNFNriq (710) ·
2. Since the way Bitcoin works is fixed, it won’t be able to evolve and I presume that a better alternative will be invented and pass it by. I see that as a risk. For those reasons the “limited supply” argument isn’t as true as it might appear.
18UUbVnDQyadAK2998nNxcaDsjscNFNriq (710) ·
3. While I recognize that Bitcoin can be held offline via “cold storage,” I understand it is difficult to do and few people do. By Bitcoin being digital and connected, it is not protected against cyber risks.
*This risk comes from off chain scaling, imo*
18UUbVnDQyadAK2998nNxcaDsjscNFNriq (710) ·
4. it is hard for me to imagine that they would allow Bitcoin (or gold) to be an obviously better choice than the money and credit that they are producing.
5. 'Volatility is a problem, therefore it's only speculation'
*BTC wants volatility, BSV does not*
18UUbVnDQyadAK2998nNxcaDsjscNFNriq (710) ·
6. While greater regulation might help Bitcoin gain broader institutional acceptance, it could also trigger selling by some of its largest existing owners who prioritize a lack of public oversight around the asset.
18UUbVnDQyadAK2998nNxcaDsjscNFNriq (710) ·
7. For instance, Bitcoin has significantly outperformed Bitcoin Cash, Litecoin, and Monero—other major cryptocurrencies with similar technical features to Bitcoin in terms of having a fixed total supply and an emphasis on ideas of “sound money.”
18UUbVnDQyadAK2998nNxcaDsjscNFNriq (710) ·
8. With just over a decade in existence, there is not enough evidence to credibly conclude that Bitcoin, like gold, will reliably offer portfolio diversification in the future.
18UUbVnDQyadAK2998nNxcaDsjscNFNriq (710) ·
9. Bitcoin is a bearer asset (i.e., ownership is determined by possession of a private key alone), raising safeguarding and insurance considerations for institutional asset managers.
18UUbVnDQyadAK2998nNxcaDsjscNFNriq (710) ·
Overall, I think he understands things pretty well. BSV can satisfy his requirements easier than BTC, and he sees the value in non-BTC assets. He only views it as a financial instrument, he doesn't know how useful the tx's are. What do you think?