Creations

On Monday evening, Ueno Bank's depositors in Paraguay could spend the money in their accounts. On Tuesday morning, after the central bank announced shortly after three that it had taken the bank over, they could not. The bank still owed its depositors. Their cards had stopped working. That is the point. A bank balance is not money you hold. It is a promise somebody else has to keep, and when they can't, somebody else decides how much you get back, and when.

Bitcoin (BSV) held in a wallet only you control is a different kind of thing. It is nobody's promise. No bank stands between you and it, so no bank's bad loans, thin capital or friendly regulator can stop you sending it on Tuesday morning. You do not wait for a guarantee fund, a list of who gets paid first, or a law written that week. You can check for yourself, on a public ledger, that your BSV has not been spent. That is the reason to take Bitcoin seriously: not as a bet on a price, but as a way to hold some of your money in a form that does not depend on anybody else's balance sheet. The way to start is the way money is meant to be used: earn some, spend some, keep some.

It is not a free lunch. You must keep your wallet's secret code safe, the price can fall, few shops accept BSV yet, and its network has its own rules for freezing specific coins. The article sets all of that out. A BSV freeze has to target specific coins. Ueno's failure stopped every one of its 1.8 million depositors at once, without anyone having to accuse them of anything.

I read on a screen every day, and I am picky about it: sepia by day, dark at night, bigger letters when I am tired, serif or sans depending on what I am reading. So I wrapped all of Creations in a quiet reading look. Tap Aa on any Creations page and choose your background, typeface and text size; your choice follows you from page to page. The rest of BSVSearch stays one click away, and the writer stays in view.
 

Every week, someone in BSV ships something remarkable. New apps, wallets, websites, open repositories. Even BSV sent over radio, without the Internet.

And on X, it gets a day or two of attention before it disappears under our timelines.

So I built a home for it. 

Creations on BSVSearch now has Features: pages that gather articles on one theme and keep them findable for weeks, months, years.

The first one is BSV News & Announcements.

If you build on BSV, here is what it gives you:

• Your news stays findable, on its own page
• Readers who came looking for BSV news, not passers-by
• Readers decide what rises by what they tipped and paid for, not an algorithm
• Followers get an email when you publish
• Paid in BSV if you want: tips, a price or a licence, wallet to wallet. Publishing is free.

Devs, founders, business leaders: write it down and send it in.

On the evening of 29 October 2026, about six billion dollars left Binance's wallets across ten blockchains, most of it in twenty minutes. Nobody is yet sure how. What is sure is that no blockchain failed: a company's signing system was made to sign, and it did. The largest theft in the history of the industry was a company hack.

This article is in two parts. The first says what happened, in as few numbers as the point needs, and why it was always going to happen to somewhere like Binance: what a honeypot is, why a custodial exchange is the purest one there is, and why "your wallet is no safer than theirs" misses the point entirely.

The second part is about us. When we built Creations on BSVSearch, we decided it would never hold anybody's money: your wallet pays the writer directly, and the platform separately. That choice has costs, and I name them: why you pay two parties instead of one, what happens when someone sends the wrong amount, and what the writer must look after themselves. It also makes buying an article slightly more awkward than it could be. We accepted that, because the alternative is to put ourselves in the middle of your money, and the whole point of peer-to-peer electronic cash is that nobody needs to be there.

Last night I read a letter from the CEO of MNEE App, the new name RockWallet is taking. MNEE, the dollar stablecoin they issued on BSV and Ethereum, is being retired on 30 November, and the app’s stablecoin account will hold somebody else’s dollar token instead. Alongside that come a bank account, identity checks for every customer, an end to customers outside the United States and, from 2027, full custody of customers’ assets.

My first reaction was disappointment. My second was that it did not surprise me at all. The failure itself proves little. The path the company is taking says a lot about what happens when you try to make BSV look, act and smell like fiat.