Why Hyperbitcoinization is a Solved Problem: Insights from Joshua Henslee
HODlocker Revolutionizes the Game
In a recent video, bitcoin thought leader and developer Joshua Henslee discussed how HODlocker, along with its upcoming features, has revolutionized the bitcoin landscape. Henslee believes that if HODlocker existed before the bitcoin chain split, we would already be using bitcoin as a widely accepted form of currency.
Henslee reflects on the theory that there was a top-down conspiracy to take over bitcoin, such as the Mastercard bitcoin conspiracy, but he now questions this idea. He suggests that it may have been power-hungry individuals manipulating the narrative and socially engineering consensus. Interestingly, some of these individuals are now embracing ideas that were initially presented in BSV.
Manipulating platforms like Reddit and other Web2 platforms may have been the strategy employed by these individuals. However, if they had to lock up their coins in the process, it’s unlikely that they would have succeeded. HODlocker, on the other hand, requires individuals to buy BSV, which ultimately pumps its price, making manipulation more challenging.
Addressing a common criticism of BSV, which claims that its lower value compared to BTC proves that the “market has decided,” Henslee disagrees. He argues that the value of BTC, currently priced at over $30,000, is insignificant compared to what it would be if the split had never occurred.
The Path Towards True Hyperbitcoinization
Henslee asserts that the only way forward is to have an unlimited block size and reactivate all of the original opcodes, which can only be achieved through BSV. He believes that those in the BTC camp already understand the necessity of these changes for true hyperbitcoinization to occur.
By being able to lock coins to signal support for specific token protocols, Henslee contends that the future direction of bitcoin will become more apparent. This way, individuals can quickly identify which ideas and initiatives they should focus their time and energy on.
Returning to the topic of price, Henslee warns that even a modest increase in BSV, reaching four to five percent of BTC‘s value, would cause significant problems for the BTC camp due to the limited total hash power available. It is a clear indication that people are starting to question the narratives they have been fed, and the future looks promising for BSV.
Summary of Joshua Henslee’s Insights
- HODlocker has already transformed the bitcoin landscape, with upcoming features like NFT listing set to further enhance its value. It provides Bitcoiners with a means to signal support for ideas by locking their coins.
- Henslee speculates that if a system like HODlocker existed prior to the bitcoin network split, it might have prevented the split from happening. It would have limited the ability of social engineers to manipulate events.
- BSV is the only path towards true hyperbitcoinization, with the restoration of original opcodes, removal of the block size limit, and the full potential of bitcoin being unleashed. If left unchanged, bitcoin would already have widespread adoption as a form of currency.
### News source: coingeek.com