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With the digital currency markets in turmoil, Bitcoin developer and thought leader Joshua Henslee shared his views on the state of the markets and the impact on Bitcoin SV.
Black swan events and fundamental value
Henslee begins by asking about situations such as these: is anyone in BSV worried more than they were before this recent dump? He challenges us to think about the bigger picture and assess fundamental value. Sure, there may be some situations in which you should sell what you’re holding short-term, but you should always wonder whether there’s a larger issue or whether it’s just a panic-driven selloff.
The heart of our analysis should always be “what driving this crash?” If it’s a decoupled crash, it could be a sign of a real problem, but if it’s going down because everything else is going down, then that’s not as much of a concern.
Henslee looks back to those who mined Bitcoin in the early days and profited greatly from it. They did work to earn value which they held onto through multiple cycles, and they’ve been handsomely rewarded for doing so. Earning BSV on apps like Haste Arcade could provide a similar opportunity today.
The Ponzi scheme is unraveling quickly
Henslee notes that the house of cards is coming down fast—something he and many others have long predicted.
With the implosion of FTX, one of…
