It’s encountered all over the crypto space these days — the idea that the only correct way to “Bitcoin” is to hold and not spend, and to desperately lash out on crypto Twitter at anyone who thinks differently. But what ever happened to Satoshi’s original call for an “electronic payment system based on cryptographic proof instead of trust”? To see what all this division really comes down to, a more in-depth examination of Bitcoin’s trajectory from inception to current status is in order.
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Calls for an Electronic HODL System
Justin Bons, Founder & CIO of Cyber Capital, recently weighed in on the BTC store of value debate on Twitter, writing: “BTC now needs to compete as a Store of Value only … A purely speculative asset is not a good SOV at all.”
#BTC now needs to compete as a Store of Value only, a purely speculative asset
Competing with assets that are both a currency & SoV with massive utility. It is this utility that provides a foundation for creating a better SoV
A purely speculative asset is not a good SOV at all
— Justin Bons (@Justin_Bons) September 29, 2019
Bons, who has announced he will soon be releasing his paper “Theory on Bitcoin governance: the three stage model,” speaks from a significant perspective and degree of experience. Cyber Capital has been in the crypto investment arena since 2016, and as Bons has previously detailed, noticeably does not invest in Bitcoin Core due to issues with its lack of utility and high fees.
This is really where the fork
