2021-04-14

BSV Cascading Bases

Similar to many gold and commodity producer charts, BSV has a nice base that if completed, points to an even nicer gain. Relative to BTC, it also sports what some miner charts have: the cascading (fractal) bases. The completion of one base begets a larger base, and a larger, etc. Above $370 (assuming BTC is $62,000) a series of breakouts could take the coin to $4000, again assuming BTC holds around the $62,000 area. If BSVUSD clears $400 it similarly completes a base with a target above $750, which going back to BSVBTC triggers another breakout level.

In a commodity producer, this type of move would play out over years. With crypto, time is compressed as phase changes come quickly. BSV is not a speculative coin though. Many exchanges do not allow BSV because they consider it a "scam" coin trying to ride on the Bitcoin name. I hold it because I see BSV as the full expression of Bitcoin's potential. I'm probably more excited about BSV in 2021, than I was about what became BTC in 2010, becase developers are close to showing the full potential of the technology.

Coinbase and other fintech companies associated with BTC are shadows of the current financial system. BTC is marketed and memed as digital gold. A store of value, decentralized, transferrable across time and space. What BSV aims for is the original aim of Bitcoin, to turn even the smallest bits of information into money. It's sort of like imagining a bank as the place to store physical dollars coming out of the gold standard world, versus the potential for new financial products and derivatives. BSV can change the way people organize, search and exchange information. Where people think of BTC like a digital gold bar, BSV is more like air. At this moment it is accumulated by those speculating on the network itself and developers building on it, but if successful, the price will be high not because people want to hold it like a gold bar, but because it would be like air is to the ecosystem. Whether you have more or less of it would depend on your level of activity. This demand will drive the price, rather than price leading demand as in speculative markets. You can see some of its potential on Twetch, which allows for quick posting of information to the blockchain and is developing an NFT marketplace. Canonic is publishing books directly to consumer. The even bigger market potential is in more fundamental "information supply" such as search engines and advertising, along with eliminating spam information by driving out of the marketplace by imposing cost barriers. Beyond that are all sorts of digital interactions you pay for today, such as streaming music and cloud storage, plus all sorts of new markets that can be created by very low transaction costs.

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