Debunking TNW: Hard Fork doesn’t understand Bitcoin

Another day, another sad attempt at disinformation. On Monday, The Next Web’s (TNW) Hard Fork came out with an article claiming that as much as 98% of Bitcoin SV’s (BSV) network activity was “from a dumb weather app.”

The story was based on a tweet by a user named Painted Frog, who claimed that WeatherSV—an app that records local weather and climate data on the BSV blockchain—accounted “for 98.4% of BSV transactions over the past 30 days.”

https://twitter.com/painted_frog/status/1143157145204076545

The stats, generated by blockchain visualizer Trends.cash platform, showed that WeatherSV generated the most “actions” in the past 30 days, followed by Memo, Open Directory, B, and Money Button, among others.


The figures don’t lie, but the parties that want to spread FUD often do. Painted Frog, as well as the Hard Fork article, failed to note that the graph didn’t include all BSV transactions. As John Goldberg, CTO of Pixel Wallet, explained to CoinGeek: “This website displaying transactions is purely based on OP_return transactions. This website doesn’t account for wallets and other outlets for broadcasting transactions on chain.”

Bitcoin wallet HandCash, it’s worth noting, isn’t included in the Trends.cash list.

Wrong perspective
The stats make sense—if taken at face value. The Hard Fork article, however, has taken a wrong perspective because, of course, it also makes sense to pounce on a protocol that represents a threat to the future of other cryptocurrencies despite only launching less than a year ago.

According to the article, “It’s still unclear why this [WeatherSV] service is necessary.”

But the app is necessary, not because it tracks “the silly weather,” but because WeatherSV shows the potential of BSV and on-chain transactions. With BSV, the transaction volumes, essentially the key to any network’s success, come from a thriving ecosystem of products built for the blockchain—financial or not.

There is a reason why the recently held CoinGeek Toronto scaling conference’s Developers Day was a well-attended event, with participants overflowing with ideas on how to take the BSV technology to the moon. There’s already a number of developments taking place, and tons of infrastructure being set up—not bad for the past seven months.

More creative projects are following the footsteps of “silly” WeatherSV and choosing to build to BSV. There’s Zweispace, which has started to record Tokyo earthquake data on BSV chain, while Kronoverse has also brought its CryptoFights player battles to BSV. There’s also OpenWifiSV, video platform concept Metaflix, native BSV photo app Bitstagram, along with many other projects.

Encouraging developers to build their “dumb” projects on BSV, and then turn it into well-designed and usable applications, will enable the ecosystem to grow. That’s a no-brainer.

To get the latest updates on the growing BSV ecosystem, check out Bitcoin Association Founding President Jimmy Nguyen’s weekly Bitcoin Vision, where he updates the world about Bitcoin SV wins. Watch the videos and learn more about BSV, and who knows, maybe you’ll get a Satoshi shout-out in the future. For reporting facts correctly.

How can crypto reach mass adoption? ‘Keep on building,’ says Centbee CEO Angus Brown

Until the cryptocurrency market turns around, the businesses already invested in the industry need to keep putting one foot before the other to steadily build towards mass adoption. Centbee’s CEO Angus Brown reiterated that thought in this interview with CoinGeek’s Becky Liggero.

“The reality is keep building. Keep trucking. That’s all we’re trying to do, is we’ve got a business,” said Brown. “The business is a long term business. It’s not about the ups and downs, and I know the ride can sometimes be rocky, but it’s actually just about we keep on building.”

It helps for Centbee to be a supporter of Bitcoin SV (BSV), as it’s the crypto with the most stable development plan. “We’re using Satoshi’s vision, the Bitcoin SV node that is working nicely,” the Centbee CEO said. “And it’s all just keep trucking, see this through. What we’re busy doing is doing all the integration into merchants, so that we can enable you to buy Bitcoin easily and store, and to enable you to be able to spend your Bitcoin.”

The sole challenge facing South Africa-based Centbee for the moment is keeping customers informed and supported. “Customers are asking us, ‘What happened to my coins, where’s my coins, how do I split,’” said Brown. “So it’s a lack of information. So whatever we can do to help customers understand that things are going to be ok, and we just need to get a bit more information in front of them and help them.”

According to Brown, regulators are doing their best to understand cryptocurrencies, but they’re still wrapping their head around it. “When they’re dealing with a global currency like Bitcoin, the challenge is, is how do you deal with something that’s bigger than you are,” he says. They are doing their level best to step up to the challenge though. “I must commend the [South African] regulators for taking a measured approach. They put out a position paper in 2014 that effectively said to people ‘It’s ok, but we’re going to monitor it and control it.’ And they’re updating those position papers as we go. And we’re giving lots of advice to the regulators.”

Despite the down market, Centbee is seeing a lot of adoption from around the globe for their wallet and BSV. Brown notes that they have customers from India, Bangladesh, Iraq, Nepal, South Africa, Germany and the UK, amongst others. “We’re very pleased about that, because it shows such a global interest in Bitcoin,” he said. “That there’s appeal not just for the crypto community, they’re actually really interested in the world’s new money.”

BrewDog UK’s Martin Dempster: Bitcoin SV provides clarity

Businesses want to plan out their future with confidence, and to do that they need to reduce as many variables as possible. BrewDog has chosen to support Bitcoin SV (BSV) for that reason, because of the clear, stable development plan that it’s development team has laid out.

Martin Dempster, VP of Innovation for BrewDog UK, joined CoinGeek’s Rebecca Liggero to discuss why they’ve chosen to work with BSV. His excitement for the BSV project is overflowing. “I’m really excited just to continue on this journey about how we can explore and accept cryptocurrencies with BrewDog,” he said.

The UK brewery was an early adopter of BSV. They’ve been accepting the only Bitcoin to follow the original vision of Satoshi since the November 2018 hard fork that saw it split off from Bitcoin Cash (BCHABC) and haven’t looked back since, believing in its ability to provide an easy to use and cheap payment system.

What helps BrewDog believe in BSV is just how stable and clear the plan forward is. Dempter said, “I think it’s just really good that there’s clarity now, clarity of vision I think is very important. Hopefully it’s a really good springboard into the future.”

Other altcoins are still playing with their protocols, unsure of what their plan will be a few months from now, never mind years down the road. That won’t cut it for business planning. BSV is ready to help companies move into the crypto space now with certainty. “I think it’s really important because we all know and understand that this technology is going to change the way that we do business into the future,” Dempster said.

Having a clear plan now, and the opportunity to get serious about development, is the recipe for future success. “We don’t know quite what that’s going to look like in 10 or 20 years, but we know its going to happen, so I think for us to develop competency in this area is really important, and that will allow us to really move quickly when the time is right,” Dempster concluded.

bComm Founding President Jimmy Nguyen: No limits for Bitcoin SV

The shackles are off for Bitcoin SV (BSV). bComm Association Founding President Jimmy Nguyen recently joined our CoinGeek’s Stephanie Tower to talk about how BSV is evolving with increase OP_RETURN limits, increased block sizes, and enterprise applications for the only protocol to follow Satoshi’s original vision.

One of the recent exciting changes to the BSV blockchain has been the increase of the OP_RETURN. The data size limit of OP_RETURN has been lifted without forcing a hard fork. Instead, it was achieved by allowing miners to decide what size they wanted to accept. Nguyen sees this as confirmation that BSV is on the right path. He commented:

“It’s real validation for us that the path we chose to follow with Bitcoin SV, the Satoshi Vision, lifting the limits, letting it scale as big as possible, was right, and developers would think of amazing new usages of Bitcoin if you just give them the potential unlimited power to do so.”

Nguyen is quick to point out what this means for enterprise usage as well. He says, “This is the signal, the start of Bitcoin SV becoming the world’s new data carrier network. Where the blockchain can be used to store and transmit data of all kinds.”

When asked how enterprises could potentially use the BSV blockchain, the bComm Association founding president is full of examples. “A good example is just seeing that you can create essentially a version of Dropbox on Bitcoin SV, where data of all varying types and sizes can be stored on the blockchain, miners will get paid fees for it, it’s much cheaper,” he points out as one example. He continues, “If I’m a big enterprise, one of the things I’d be thinking about are, what kinds of data could I store on the Bitcoin SV blockchain that I’d want to be able to pair with the ability to access, or give access to that data to other people, in exchange for micropayments. Instead of having large volume fees, you could individualize the access to data. And I think that opens up a whole new world of business models.”

Stability is an emphasis of BSV, and Jimmy Nguyen believes that hard forks are a thing of the past. “No more developer fights, please. No more protocol fights,” he says. “That’s part of our path of Bitcoin SV. Restore the original Satoshi protocol, keep it stable, leave it alone. Lift the limits and let developers build on top of the chain and that will unleash creativity with no bounds.”

The focus is really on massive on chain scaling, and in that area, BSV continues to progress in leaps and bounds. “There have been individual blocks mined on Bitcoin SV on the live network, of 64MB, 65MB in size, and on January 3rd of this year, 103MB in size,” Nguyen points out. “Their next step is to plan a public stress test on the live network to show that this can be done on actually the live network. And they’re confident that with increased work on the solutions to improve block and transaction propagation, they can demonstrate BSV has the capacity for even bigger than 128MB blocks on a sustained, repeated basis. “

The ambitions for BSV are much bigger, and Nguyen hopes that current block sizes will one day be considered small. He concludes, “The plan is, on Bitcoin SV, to raise the default block cap to 512MB as another step towards getting to 1GB to 2GB in size. And one day, much like Op Return, no limits. I think that’s our message. We believe in Bitcoin, #NoLimits.”

Memo SV makes for true connections

CoinGeek’s Becky Liggero got to speak with Memo.cash founder Jason Chavannes on the potential of decentralized social networks.

According to Memo.cash founder Jason Chavannes, one disadvantage of websites like Craigslist is that accounts aren’t connected to an actual person. “[I]t’s basically like a bulletin board where you can post things for sale locally. But there’s some problems with it. People get scammed a lot, and a lot of this is basically because it’s anonymous,” he said.

Chavannes sees the same mechanism for advertising applied to the blockchain through Memo and make for more trustworthy transactions. “[H]aving single online identity, it reinforces the trust aspect so much more. Because anything you do on any service is now linked to your permanent identity, so you could build something like that into Craigslist,” he said.

Memo first came about a year ago, utilizing Bitcoin Cash to create online connections. Chavannes said he had been considering a decentralized on-chain social network for some time before that. “I knew that the blockchain had the potential to serve that [social networking purpose], because trying to create your own network… it’s hard to keep it alive, and the blockchain is already an existing network that you can just rely on being there. So it was a natural use of it. But then the [BTC] blockchain obviously couldn’t handle this because they don’t want any transactions, let alone crazy, large social media-level transactions.”

Unlike BTC, Bitcoin Cash allowed for larger blocks, which Chavannes took as a signal to start Memo. “It was like, ‘Alright, now’s the time to execute,’” he narrated.

Memo works similar to Facebook or Twitter, but activity such as posting involves a transaction on the chain. Fellow users then award posts by Satoshi units, or one-hundred millionth of a coin.

Now, in the wake of the November 2018 Bitcoin Cash hard fork, Memo has been enabled for Bitcoin SV, the only cryptocurrency remaining true to the Nakamoto whitepaper. More data could be encoded through the OP_RETURN function than ever before, allowing for a greater variety of content that users can share.

Chavannes said the Memo network was still at its early stages, but that “in the long run, as the network grows, it can be used across multiple sites. There’s already multiple social networks that are using the same-based protocol, so now when you sign up for Instagram or whatever, you don’t have any connections. You have to start from scratch over again. With Memo, you can now have all these social networks linked together so that when you sign up to a new one, you take all of your connections with you.”