Publication time: September 2, 2020
Source of information: CoinGeek.com
John Pitts used to be a technology analyst on Wall Street. With his experience in evaluating Internet companies, he made reasonable guesses about the prospects of Bitcoin SV and BTC. He believes it is possible to value them: "Not only do I believe that you can value them, but if something cannot be valued, it is probably worthless."
In an article on CoinGeek, John performed a series of calculations, assessed the value of the BTC network, and compared it with BSV. He first used the transaction fees of the entire network as the network's "revenue"-equivalent to the "sales" data used to evaluate the value of a technology startup. Due to the small size of the BTC block, the potential for transaction fees is limited, its performance is very poor, and the value of the entire network is only $45,000.
John did not feel sorry for the result: "This is what I think the future direction of BTC is, in fact, its value is zero. This is because BTC does not use the most important part of Bitcoin, that is, data and information."
But when it comes to BSV, the situation is different, because the blocks will be much larger: "If you adjust these numbers and start using 1GB instead of 1MB, or start using 1TB... then this number will be very huge."
But John is cautious about making too many and premature predictions about BSV:
"These things will take time and will always come true. You know, it took Apple 40 years to reach a trillion-dollar valuation. Maybe BSV won't take that long because it is more important than what Apple does. But the problem Yes, it will take longer than people think. However, for BSV, these estimates may be astronomical. So there is good news and bad news."
John compared the value of data stored on BSV with the relative value of land and buildings in the city. When cities prosper, land will increase in value, which makes real estate developers think that it is worthwhile to replace smaller, cheaper buildings with new ones. Similarly, as the value of the BSV network grows, under the condition of a limited money supply (21 million coins), data that is not valued by its owners can be replaced by more valuable data, thereby making better use of money "Real Estate" on the Internet.
But John's interest in BSV is not only theoretical, but not even financial. He is also an application developer, and now users can use the above SLictionary (see picture above). This is a dictionary driven by BSV. Their marketing slogan is "the most significant advancement since the dictionary was compiled into a book."
The idea of SLictionary is to invite users to create competing paraphrases and upload photos and videos to help explain words. The most popular word interpretation will be rewarded by BSV. John said:
"Although users need to pay a small amount of search fees, the money'takes away all the low-quality entries and highlights the high-quality ones.' Unlike Wikipedia, people cannot post spam and cannot be manipulated. I I think this is the beauty."
Currently, there are still thousands of words waiting to be interpreted on SLictionary. But for John, this is not a problem. Based on his research on the potential of BSV networks, he will devote himself to BSV related work for a long time. When he used this method to make such a judgment on early Amazon, the effect was very good. Now he feels the same about BSV, as he said in the article: "Sometimes I bet my life, my good reputation, and even the fate of my children on a series of studies, and now is one of them. one."
And "destiny" is still waiting to be interpreted in the dictionary.
Currently, more than 400 projects worldwide are built on the Bitcoin SV blockchain. With rock-solid agreements and declining transaction fees, the Bitcoin SV ecosystem has developed rapidly, and we look forward to more unprecedented commercial applications in the future.