Rumors and Lies

The latest rumor is that FB is going to use BSV in some capacity with their new cryptocurrency.

This is possible, but not likely. I believe it was fueled by Zuck’s sister Randi commenting on Craig Wright in 2018 and then reignited by former nChain CEO Jimmy Nguyen tweeting @ Randi this week.

I’m covering this because it’s not IMPOSSIBLE but it also raises several questions:

-What coin could handle that volume?
-Can a giant like FB reshape crypto?
-When does the rumor mill end?

The only public blockchain approaching capacity to handle FB levels of volume is BSV. For that reason I think people are running with the rumor. It simply doesn’t make sense on any other coin.

If FB launches a coin, based on BSV or not, they will immediately have over 1B potential users. I don’t think this guarantees success. It requires trust in FB. By design, you don’t have to trust Bitcoin. Advantage: Bitcoin.

BSV promises microtransactions for exchanging information. Bitcoin is honest money (known inflation schedule and coins created as rewards for Proof of Work).

Honest money can mean honest info. It won’t stop rumors and lies, but your clicks won’t be tracked across the Internet and your data sold to advertising bidders. Via microtransactions you take back your data and your privacy. This changes the incentives model. The Internet and information landscape won’t be the same.

Bitcoin being honest money is one of the reasons I think BSV will be the winner. It has laid out plans for this and more, much more. I will cover Paymail, the new identity system in BSV, this week.

In the meantime, I leave you with this quote.

Don’t believe everything you read on the Internet.

Abraham Lincoln

About coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

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