A tale: how I made a killing in the market. 

2019-05-25T12:07:08.000Z Honest Cash

There isn't a shortage of scams in the cryptosphere, but one coin is may look like a scam to crypto veterans is unlike any other coin we saw before. That coin will certainly be pushed very hard end in a kind of success, just not the kind that it promises, so it's a deception. It's not clear at all what motivates Coingeek because the money making potential for them seems to be in the hundreds of millions in the negative. It's a coin which wasn't created to succeed and have value for its users' sake but makes huge efforts to succeed just so it could stop another coin from succeeding.

It's hard to see this deception at first glance, but Bitcoin Satoshi's Vision wasn't created to have value on its own and therefore the efforts it now makes to "succeed" are deceptive. At first nChain tried to win leading the BCH client development by the carrot method using "Satoshi" himself and Coingeek's money paving his way into every conference so when they finally took over the reference client and controlled the services built around BCH, they could steer the project anywhere they wanted while any attempt to break free from "Blockstream 2.0" would have been met with a rerun of the same old story with the tactics of manufacturing contention. That would have led to a new chain with a new client starting again as an alt-coin to an alt-coin which has to start almost from scratch as happened when BCH forked away from BTC. Whereas BTC rendered itself unusable for daily usage as a

currency, BSV will make itself unsuitable for

permissionless usuage -

in case BCH gains traction.

It was created for one and only purpose - to clash again and again with Bitcoin Cash - or any serious Bitcoin fork and stop Bitcoin from succeeding in its original form - as a permissionless decentralized currency (BTC is too expensive and slow to be used for daily payments or even day trading).

The moment it was clear nChain won't take over the main client, and due to the very nature of Bitcoin which is censorship resistant, plan B was commenced to completely replicate the ecosystem with the backing up of "Satoshi" himself, and a HELLUVA-LOTTA money to promote the coin using conferences, marketing, buying up devs, all with the goal of becoming the "original Bitcoin" or at least to disrupt BCH as much as possible by creating maximal contention on all fronts to hurt its adoption, since investors don't want to deal with a coin which is constantly attacked since that brings in too much uncertainty. And that's the real war that's being fought right now.

It's likely BSV will be sustained and be kept around in the crypto scene to be ready as a tool for disruption as long as BCH remains a threat (it's ranked #4 in market cap as of now). The lesson: everything should be done using open protocols so it'll be truly decentralized and permissionless. In any other way may it be through patent trolling, harassment, lawsuits, and DDOS'ing.

The new stage in the Bitcoin wars, which really started almost from the beginning but mostly were covert, of a coin like BSV - a kamikaze ad-hook coin deliberately crashing into another coin until both tank - introduces a new challenge but also brings the battle into grounds slightly more favorable to Bitcoin. So far the fight against Bitcoin was done mostly covertly and led to the crippling of it. This time there's a chance for one version to show its strengths against another implementation,