News & Views

Calvin Ayre: Bitcoin SV controls a global monopoly on immutable data storage on a public blockchain

This article was originally published on CoinGeek on February 20, 2020.

Six months ago, it was all about the power of scaling. Things have fundamentally changed since then, and the CoinGeek London conference is going to be the tipping point for the Bitcoin ecosystem, according to Ayre Group founder and CoinGeek owner Calvin Ayre.

“We’ve put a lot of effort into recreating the original protocol in the community, and at the same time that that was happening, the awareness has been building. And I think we’re going to see that the announcements that’ll be made at this event is going to end up being the tipping point and I think you’re going to see from here forward, people are going to be looking back and saying, ‘Well that was when things fundamentally changed,’” Ayre said.

A lot has changed since Bitcoin SV (BSV) has been freed a little over a year ago. The Genesis protocol upgrade activated key protocol changes, including eliminating any default block size limit (previously set at 2GB). Not only has BSV won the platform wars, it holds the monopoly on data storage on a public blockchain.

“If you look at what’s happening right now, Bitcoin SV controls a global monopoly on immutable data storage on a public blockchain,” Ayre said. “Not only does it control that globally, but even if one of the other chain sees this interview and decides it’s going to start trying to do this, we’re talking years if they ever do it when you look at the patent portfolio that nChain’s got in place protecting the moat, if you will, around this technology.”

Now the ecosystem is in the midst of an application war, as developers and businesses race to build applications powered by BSV. There are a lot of talented individuals with ingenious ideas in the space at the moment. Ayre shared:

“I’m old enough to remember when that exact same question and that exact same criticism was leveled at the internet itself. And I remember when the first internet bubble happened, and everybody said that this isn’t going to amount to much. Yes, sure you can you know share some pornography with your friends and yeah sure maybe you can send some emails and stuff, but commerce on the internet? That’s not really going to be a thing. I remember that. I say to all those people that doubt what BSV can do on top of the internet, watch out.”

And to the entrepreneurs setting up businesses on BSV, Ayre has this to say:

If I was 20 to 30 years old right now, I would be building an application on BSV. That’s exactly what I’d be doing. I wish them luck.

Watch the CoinGeek London Conference Day 1 livestream here: