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BSV mystery buyer doubles market cap

  • Post #1
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  • First Post: Edited Feb 19, 2021 5:53pm Jan 9, 2021 9:28pm | Edited Feb 19, 2021 5:53pm
A big buyer came in last night around 4am ET. I don't think it's Craig Wright or we would have pegged $500 at least. Maybe just one of these new institutions knows how to discern truth.
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Hoping we see him again at 4am!
When CW unleashes this $40B it's gunna be one hellofa show. Get your BSV while it's in the three digits!
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When BSV market cap passes BCH, The Wrightening has begun.
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Two hours until the buyer comes back.
Or not.
Quoting Goat
The Wrightening has begun. {image}
“The Wrightening”

Haha, I like that.
Looks like it was just a mid-sized buyer, buying around 5,000 coins in a tight window. Price will probably settle back down. Not the rally we've been waiting for, but we'll take the blip.
Just thinking here, how can one truly understand Bitcoin if they don't know that Craig Wright is Satoshi? And how long will it take for the hedge funds to figure it out?
Quoting cryptocow
{quote} “The Wrightening” Haha, I like that.
Interesting that it's the first thing we ever both liked. You've come a long way since your XRP days.
Quoting Goat
{quote} Interesting that it's the first thing we ever both liked. You've come a long way since your XRP days.
I was never a fan of XRP. Additionally, I never mistook a cryptocurrency for an initial coin offering.
Quoting Goat
The Wrightening
Is this the beginning of the Wrightening? https://bitcoin.org/en/posts/regarding-csw
I spy a buyer tonight. We've had a few of them past few weeks.
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Quoting cryptocow
{quote} Is this the beginning of the Wrightening? https://bitcoin.org/en/posts/regarding-csw
Not sure. I was wondering the same thing when the news broke.

On one hand, CW's ability to legally enforcing copyright over the Bitcoin whitepaper is pretty much proof that he's Satoshi. On the other hand, the crypto industry won't take kindly to CW using the law to claim his work.

What we really need for the Wrightening is for exchanges to support BSV. From that perspective, the whitepaper claim hurts us.

I'm not down about the news though. It could end up being good for BSV if institutions take notice. Any researcher they put on the case will conclude that CW is Satoshi.

We can't expect CW to change his heavy-handed ways. We're dealing with the smartest man in the world here -- he ain't right in the head! The only way this BSV trade works is if the world changes around CW. For example, a failure of the BTC blockchain could expose the truth about CW, as he'll be the only man who can fix the problem. That's the sort of thing I'm waiting for.
Quoting Goat
as he'll be the only man who can fix the problem.
That will never happen.
Quoting cryptocow
{quote} That will never happen.
What's so far fetched about a supremely complex system breaking down, and the inventor is the only one who can fix it? Happens all the time. When a company makes an acquisition, they retain the IT team so they can still control the acquired systems. If IT cannot be retained, there's no way to understand the old systems and they get scrapped.

CW has already "fixed" a few of Bitcoin's problems. There are several instances in Satoshi's early forum posts. His latest fix was increasing the block size via the BSV fork. That is to say, the Bitcoin payments system is currently broken due to the small block size, but only CW recognizes that it's broken. It's like a car with a slow leak in one of the tires.... it's still moving down the road as designed, but there's a problem brewing that will eventually bring the car to a halt. CW can hear the leak, knows what's coming, and has already implemented the fix (BSV).
  • Post #16
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  • Edited at 1:53pm Feb 10, 2021 1:29pm | Edited at 1:53pm
Quoting Goat
{quote} What's so far fetched about a supremely complex system breaking down, and the inventor is the only one who can fix it? Happens all the time. When a company makes an acquisition, they retain the IT team so they can still control the acquired systems. If IT cannot be retained, there's no way to understand the old systems and they get scrapped.
The last time Satoshi touched the bitcoin source code was in December of 2010 [1].

Since then, there have been 26,296 commits to the bitcoin source code with 2,164 files changed (578,566 insertions, 48,904 deletions) by 780 different people [2] [3] [4].

Bitcoin has been doing just fine since Satoshi left, and will continue to operate just fine now that he is gone.

As Satoshi himself said: "I've moved on to other things. It's in good hands with Gavin and everyone." [5]

Quoting Goat
His latest fix was increasing the block size via the BSV fork.
Changing the value of a variable hardly requires the "smartest man in the world".

[1] https://bitcointalk.org/index.php?to...29479#msg29479
[2] git rev-list v0.3.19..v0.21.0 --count
[3] git diff --shortstat v0.3.19 v0.21.0
[4] https://github.com/bitcoin/bitcoin/graphs/contributors
[5] https://pastebin.com/syrmi3ET
On the surface you're right. Bitcoin won't run into a software glitch because it's the hands of capable engineers.

But let's look deeper...

Bitcoin is designed as a payments system, aka currency. A currency needs reasonable transaction speeds. If Bitcoin cannot achieve the required speed, then it's technically broken. It's not a software glitch, it's a design flaw. A fatal design flaw.

The current crypto culture says that Bitcoin doesn't need to be a currency. Then what is it? It's either a currency or a digital beany baby.

I'm not saying that Bitcoin is broken and BSV is the solution, although that might be the case. I'm just using that to illustrate how CW might save the crypto world one day.
Funny story. When I bought my BSV position with BTC, BTC was at $10K and BSV was at $170. I justified the timing of the trade by thinking 'BSV is far more likely to double than BTC.'

Since I made that trade, BTC has quintupled, and BSV has pretty much stayed the same.

Awful trade in hindsight, but it's foresight that makes money. I still expect CW to justify the wisdom of that trade, one day.
Quoting Goat
Funny story. When I bought my BSV position with BTC, BTC was at $10K and BSV was at $170. I justified the timing of the trade by thinking 'BSV is far more likely to double than BTC.' Since I made that trade, BTC has quintupled, and BSV has pretty much stayed the same. Awful trade in hindsight, but it's foresight that makes money. I still expect CW to justify the wisdom of that trade, one day.
That is funny
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I hate looking at the math, but I need BSV to reach $1,000 for breakeven.

When BSV replaces BTC it'll all have been worth it (I keep telling myself).

Craig, if you ever read this, don't forget the little guys who never stopped believing in you.
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