Recently, I wrote about how BSV has always been doomed from the start. Due to the facts analyzed in that article, Calvin Ayre, the co-leader of the BSV blockchain, has employed a number of tactics in an attempt to slow BSV's decline. One of Ayre's life support measures is to ensure access to a BSV-fiat exchange, which he has pursued through his shell company: RockWallet.
Today, I will analyze RockWallet and show how its activities are highly similar to other BSV companies like Lightning Sharks, which only pretend to serve the greater crypto economy.
A BSV company in disguise
RockWallet, like other BSV companies in the "ecosystem" may appear like a normal crypto company to your average investor, until you dig deeper. Let's take a look at RockWallet's website to better understand.
To maintain a sense of neutrality and keep the business afloat, RockWallet offers support for Bitcoin in addition to altcoins other than BSV. This also allows RockWallet to push BSV to unsuspecting investors who choose the wallet to store other coins. RockWallet's marketing team intentionally selected this image and location at the front of the homepage to disingenuously convey to people that they are open-minded.
This is of course a front for their only dedicated audience, which is BSV. To keep their support of BSV strongly evident to its customers in the cult, they even styled their social media buttons using BSV's official color:
I’m seeing a lot of tweets about #BSV being delisted etc… I can categorically state that @rockwallet we will never delist #BSV. We see the value in offering a service our customers want, it’s not any more complicated than that.— Steve Bailey COO @RockWallet (@sjbailey1970) August 16, 2023
Strikingly, the COO of RockWallet flat out stated on X that their team would never delist BSV from their app. Conveniently, the COO has never made this commitment to the various other coins listed, like Bitcoin.
RockWallet's dedicated support for BSV is further shown in its first press release:
"As a multi-asset platform, RockWallet supports popular digital assets such as BSV which expedites nano payments anywhere in the world for less than a hundredth of a cent per transaction. BSV can be securely transferred without confirmation (zero-conf) to facilitate instant peer-to-peer payments and global remittances."
The RockWallet team only went in depth on BSV, saying that it is an example of a "popular digital asset." This is a blatant marketing attempt for BSV, since no one in crypto views BSV as a contender. Also, the real Bitcoin was listed above for wallet support, and it is the most popular coin in existence.
RockWallet is a young company in the crypto industry. Since BSV is near the end of its life, it is obvious that RockWallet only listed it because BSVers are in charge. RockWallet's decision to list BSV instead of more popular altcoins like Avalanche cannot be explained by any rational business reasons.
An untrustworthy exchange shilled by Faketoshi
Major crypto exchanges in the world have a duty to provide reliable 24/7 functions to their customers. If there is downtime on these platforms, customers are almost always aware because the companies provide advanced warning for maintenance. If the problem is a random occurrence, developers typically patch it quickly.
There is little point in using a crypto wallet/exchange if there are major issues with functionality. In the past, troubling experiences with RockWallet's exchange function have been reported, which is the major attraction for BSVers:
RockWallet's exchange function was so finicky that the above user though it was an issue with their credit card. Since RockWallet is a small app, the chances of issues arising without developers noticing are quite high.
Craig Wright is a con artist pretending to be Satoshi who seeks to do nothing but mislead his followers. Naturally, Wright highly recommends the unstable app that RockWallet is to his followers (who voice their concerns):
Calvin Ayre is the head honcho
RockWallet COO Steve Bailey decided to go on a CoinGeek Weekly Livestream show with Kurt Wuckert Jr to discuss the prospects of RockWallet and the BSV ecosystem. If you're on this podcast to begin with, and Chief BSV historian Kurt Wuckert Jr is blindly agreeing with you, it is evident you are a BSV cultist.
Just based on the RockWallet team's hardcore dedication to BSV, it's highly apparent to onlookers that Calvin Ayre runs the show. Of course, there is evidence to prove this definitively. Ronnie Tarter is the head lawyer of Calvin Ayre's family office, who happens to reside in Ayre's country of residence: Antigua. Naturally, Tarter is the person with significant control of RockWallet, meaning he and Ayre oversee the company's operations:
Earlier this year, RockWallet was used to pay Craig Wright's legal bills. Since Calvin Ayre secretly runs RockWallet, it makes perfect sense that he would use a shell company instead of his direct money to pay for Faketoshi's court plights:
RockWallet's PR team = Lightning Sharks
One of the most prominent BSV investigations I have performed involved Calvin Ayre's personal marketing firm, Lightning Sharks, which I showed was the in-house marketing firm for most of the BSV ecosystem. Although, did you know that RockWallet uses Lightning Sharks for their PR needs?
As shown in the above press releases, RockWallet and the BSV Association have the same Lightning Sharks employee running their PR outreach. This is not surprising, given Ayre operates all three companies. If more people were in the BSV ecosystem, they would notice these red flags, but since BSV is a wasteland, it goes unnoticed unless reported on.
RockWallet is a wallet/exchange that does support Bitcoin among altcoins other than BSV. However, this is just a front for the true purpose of being a dedicated BSV exchange and mechanism for paying Faketoshi's legal bills.
Calvin Ayre launched RockWallet because he knows that BSV needs at least one dedicated fiat ramp run by himself due to virtually every reputable crypto exchange delisting it. Labeling RockWallet as a BSV exchange would turn down users who could potentially be pressured into buying BSV.
It is logical for serious investors to avoid RockWallet. There are no sensible reasons why anybody not holding BSV would use RockWallet, since there are an indispensable number of solid wallets/exchanges for Bitcoin and Ethereum.
Calvin Ayre will continue his attempts to delay the inevitable demise of BSV, and RockWallet strongly shows that.