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- Should money be the number one use for Bitcoin?
On this episode of CoinGeek Discussions on X Spaces, the central topic was ‘Should money be the number one use for Bitcoin?’ Hosts Alex Vidal and Zach Weiner are joined by Marquez Comelab from BSVSearch.com and numerous other guests to discuss this topic.
Who is Marquez Comelab, and what is BSVSearch?
Comelab is a YouTuber and BSV entrepreneur who started BSVSearch.com to help people find businesses that accept BSV and to create a place where people can buy and sell using it as electronic cash.
He tells his Bitcoin story; he heard of it in 2015 when a Bitcoiner talked about how his family’s savings had been wiped out multiple times by the hyperinflation in Argentina. However, he didn’t buy until 2017. Then, using it for the first time, he realized it was too slow ever to be global money.
Comelab went digging and soon discovered the block size wars and Bitcoin scaling debate. He realized he had been trying to use small-block Bitcoin, and his bad experience doing so convinced him that big blocks were probably the way. When BCH and BSV split, he followed BSV and lost interest in all other coins.
Using Bitcoin as money for everyday life
Elaborating on a recent X post in which he said BSV will become worthless unless we use it, Comelab delves deeper into his theory that BSV must be used for everyday things such as money. With the protocol restoration and scaling with Teranode, it’s ready, and it’s time to start using it as intended. Doing this removes the need for onramps and offramps, which is an added benefit.
Weiner wonders whether using BSV at scale will cause the price to increase so much that sub-cent transactions become impossible in fiat terms. Comelab responds that this could be an issue, but it’s something to consider more deeply later. BSV’s survival is at stake right now, and we’re so far away from this particular problem that there’s no point worrying about it. We have no idea what will happen between now and then, so solutions may arise.
BSV Panama believes that the fees should go down as we scale. One reason for having so many transactions in a block is to allow transaction fees to drop even further, so the issue Weiner brought up would resolve itself if that’s the case.
Comelab asks BSVers to do what they can to speed up adoption right now. We can wait for enterprises, court cases and everything under the sun, but in the end, the one thing we can all control is using BSV for whatever we can and encouraging our favorite merchants to accept it.
Food and drinks are a perfect example of small, casual transactions for BSV in everyday life, he says. Since everyone has to eat and drink, which can be relatively small transactions, merchants may be willing to take a risk and accept BSV. We can also use it for content tipping – that’s a perfect use case for micropayments. Each piece of content can even have a unique wallet address so creators can see what’s gaining the most tips.
BSV Panama agrees with using the coin directly, but he says it must coexist with fiat currencies. Governments will soon stop it if it starts to erode the value of their national currencies, and they have already done so in several countries, including Panama. Comelab agrees, saying we don’t have a choice since BSV is such a small community.
More about BSVSearch.com
Comelab’s contribution to speeding up BSV adoption is BSVSearch.com. It’s a site where people can buy and sell various items in BSV and find local establishments that accept them. It’s small now, but he hopes it will grow as more people learn about and adopt the real Bitcoin.
Since transitioning to a BSV economy will take time, BSV Search is a starting point. BSVers officially have a place to buy, sell and search for businesses that accept it!
Check out the conversation here to hear more about BSVSearch.com, fostering BSV adoption, and the possibility of another bull run.
Watch: Reviving the true value of blockchain—utility
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