In an “Ask Me Anything” episode, host Kurt Wuckert Jr. covers a multitude of topics, including Solana, TSC and the upcoming CoinGeek conference in New York.
This week’s CoinGeek Weekly Livestream kicks off with a discussion on Solana, a Silicon Valley blockchain backed by Andreessen Horowitz. Recently, its developers shut down the network in response to what it said was a “sharp increase in transaction load that flooded the transaction processing queue.” As explained on their official Twitter account, the network has started to branch off due to the lack of prioritization of critical messages for the network.
Kurt was happy to share his thoughts on the recent high-profile blockchain incident. Although he acknowledges the parallelization of Solana’s transactions, he is skeptical of the network’s ability to scale. “Solana has this strict limitation as to its ability to evolve without completely reorganizing the network,” he underlines. Kurt also explains that Solana’s decision to restart the network is a strong indication that they are too centralized. For its part, the network clearly has problems of governance and scale. “If they’re already under a DOS attack and the whole network is fine, well, they’re already not fast enough for what they need to be. “
A dialogue about TSC, TokenSwap’s native exchange token, ensued next, a topic Kurt recently wrote about. During the livestream, Kurt mentioned that he acquired a fair amount of TSC tokens when it launched on September 14. “I caught some of it because it’s the first true DeFi platform built on Bitcoin SV and it works like a charm. The TSC token, which also serves as an exchange, allows people to earn money by trading, providing cash, and producing agriculture. The same concept exists in other blockchains and can be compared to Ethereum’s Uniswap and Binance’s BNB coin, Kurt explains.
From there, a discussion of recent BSV price developments took shape. As Kurt explains, the zigzag price on the minute chart indicates margin trading, which means, “They are forced to close shorts in order to actually take the BSV so they can send it to you.” , they basically stake it out as collateral in order to open margin trades against it. Kurt implores everyone to remove their BSV from centralized exchanges like KuCoin, Bitfinex and Huobi, Okex and Coinbase. “You are BSV on Bitcoin and other exchanges are used to sell BSV if you take out your BSV they have to buy the BSV to close the shorts in order to get your money back.”
The episode wouldn’t be complete without a mention of the rapidly approaching CoinGeek conference in New York on October 5-7. With the pandemic in place, Kurt explains that the New York City government has issued a warrant that requires all event attendees to be fully vaccinated and provide a vaccination card upon entry. He apologizes to those who cannot attend because of this and clarifies that this is not a CoinGeek mandate, but a requirement from the city government.
For the most part, Kurt is looking forward to a presentation from nChain CTO Steve Shadders, who at recent CoinGeek conferences has always provided amazing technical updates on the BSV network. Shadders will present the first day of the conference which will take place on October 5th.
If you haven’t yet registered, get your tickets here.
New to Bitcoin? Discover CoinGeek Bitcoin for beginners section, the ultimate resource guide to learning more about Bitcoin — as originally envisioned by Satoshi Nakamoto — and blockchain.