BSV miners raking in high rewards per transaction

Miners of Bitcoin SV (BSV) raked in the highest rewards per transaction over the weekend, a snapshot of data captured has revealed. In a comparison with SegWitCoin (BTC) and BCH, BSV miners came out on top in terms of the mining rewards secured, providing a greater incentive to mine BSV than the others.

Users on social media flagged the discrepancy, and questioned when this would encourage more miners to switch to BSV over mining BCH and BTC cryptocurrencies. Twitter user winterwishin posted a screenshot comparing rewards in the past 24 hours for BSV, BCH and BTC, highlighting the higher rewards per transaction on offer for BSV miners.

In the tweet, the user asked how long it would take miners to realize that BSV was the best option: “BSV has the most tx few rewards for miners in the last 24 hrs. This is just the beginning. When will other miners realise?”

In data posted on Twitter, BSV reported some 130 blocks in the last 24 hours, compared to 132 for BCH and 174 for BTC. However, while BTC posted and BCH posted rewards of 1650+0.3825 BCH and 2188+26.58 BTC respectively, BCH edged them out, with rewards of 1625+26.88 BSV over the 24 hour period.

The discrepancy means miners would be better off mining BSV than either of the other options, with higher rewards for those that choose to get behind the cryptocurrency.

Bitcoin SV is the original bitcoin as intended in Satoshi Nakamoto’s whitepaper, offering payments at mass scale with low cost transactions and fast transaction speeds.

Designed to be affordable and efficient for sending payments and powering apps and other services, this is reflected in the lower average transaction value of 2.99 BSV—roughly $439.41, compared to over US$11,000 for BCH and US$16,833 for BTC.

The median transaction value shows an even more accurate picture, at just $1.34 for BSV, compared to $172.13 in the case of BTC.

The news is further incentive for miners to switch their attention to BSV, at a time when the cryptocurrency is increasingly gaining traction as the coin of choice amongst miners, developers and users.

CoinGeek Seoul brings popular Blockchain Conference back to Asia October 1-2

Click here to read in Korean.

Noted Speakers to Include Dr. Craig Wright, Jimmy Nguyen and more

Seoul, Korea – August 2, 2019 – Popular blockchain event CoinGeek is coming to Seoul for a two-day happening at Le Meridien Hotel, a noted property in the heart of Seoul’s upscale Gangnam District on October 1-2. The event will feature discussions on the power of blockchain scaling, what enterprise applications can be built on a massively scaled Bitcoin blockchain, the advantages of a public blockchain over private distributed ledgers, and how government regulation is impacting the space.

Professionals from leading blockchain start-ups, global enterprises, crypto mining groups, investors, and others are coming to learn about exciting developments for Bitcoin SV (BSV), as well as the benefits of massive blockchain scaling for miners, application developers, and enterprises.  

To kick off this two-day event, October 1 will feature technical topics about how BSV’s massively-scaled blockchain unlocks technical capabilities and applications not possible on other platforms. On October 2, experts in the industry will showcase how the BSV blockchain can drastically improve the way enterprises do business and create a new digital economy. Attendees will also witness presentations from the three finalists of Bitcoin Association’s 2nd Hackathon; get treated to another intimate conversation with nChain Chief Scientist and creator of Bitcoin Dr. Craig S. Wright (Satoshi Nakamoto) about Bitcoin’s history; and have a blast at another legendary CoinGeek after-party!

Notable speakers include host Bitcoin Association President Jimmy Nguyen, nChain Chief Technology Officer Steve Shadders, and many more to be announced.

The CoinGeek Seoul conference, October 2019, is the latest instalment of CoinGeek’s headline events. Following on from CoinGeek Toronto last May, CoinGeek Week in London November 2018, and the inaugural CoinGeek Conference in May 2018 in Hong Kong, CoinGeek are leading the way in galvanizing the world’s merchants and enterprises to adopt Bitcoin SV (BSV). Bitcoin SV is the only project dedicated to the original design, protocol and “Satoshi Vision” of Bitcoin’s creator Satoshi Nakamoto. 

While the CoinGeek conference is focused on Bitcoin SV, its inclusive environment welcomes speakers and attendees who also work with other blockchain projects, and welcomes all attendees interested in learning about BSV.

With objectives to educate on the importance of massive scaling on the BSV blockchain – such as the benefits of larger block size for enterprise usage and to sustain miner profitability; to promote the value of BSV and why merchants should seek to adopt this new world electronic cash system; and to promote the benefits of BSV’s blockchain for technology developers, the event will feature world-class Bitcoin and blockchain experts as speakers.


For more information please see www.coingeekconference.com. For press needs in the Western Hemisphere, please contact Susan von Seggern on [email protected], or +1-213-840-0077, or on Telegram Susan VonSeggern. For the Eastern Hemisphere please contact Ed Pownall on [email protected] or +44-7825-064776.

Kate Hiscox: Providing institutional financial tools with Bitcoin SV

Institutional investors and banks will play a key role in driving adoption and finding huge uses for Bitcoin. Kate Hiscox, CEO of DRIVE Markets and DRIVE Pay, is focused on providing services on the Bitcoin SV (BSV) that can bring these groups into the fold. She spoke with our Becky Liggero at the recent CoinGeek Toronto 2019 scaling conference about how she’s achieving that goal.

DRIVE started with DRIVE Markets, a product which Hiscox explained, is attempting to provide all the tools institutional traders have become accustomed to, but for cryptocurrency trading. “DRIVE Markets is really designed to bring traders over from the forex markets to trade crypto,” she said. “Forex traders can make a lot more money trading crypto. But they’re used to certain tools. They use high frequency algos (algorithms) for trading and so on, so DRIVE Markets is built to offer them that experience.”

So far, it looks like it’s been working out, and DRIVE is growing as a result. “I’m very happy to say our volume’s doubled since we opened just last month,” she told Liggero. “Very, very exciting. DRIVE Markets, you’d more liken it to, say, BitMEX versus a Binance, for example.”

Where DRIVE is looking to make a huge difference is by providing an evolved cross border payment system for banks. “DRIVE Pay, we saw an opportunity, something really that Ripple established, and showed to everybody that there’s an opportunity to improve cross border payments through efficient clearing and settlement,” she said. “Ripple is great, but we felt it created some unnecessary bottlenecks by not using existing banking systems, and in particular, SWIFT. SWIFT is used by more than 10,000 banks in 200 countries. They send 30 million messages a day. So all the banking systems speak to it. So DRIVE Pay operates in a very similar model to Ripple, but instead of using our own sort of unique payment messaging system, we’re actually using the same schema as SWIFT.”

As opposed to Ripple, which needs banks to totally adapt to a new system, DRIVE Pay is playing into their strengths. “So that means, for more than 10,000 financial institutions around the globe who want a solution, it would be very easy for them to adopt DRIVE Pay” she explained. “And that’s to say, it’s really for bank wires right now, could take up to 24 hours and more actually to be transmitted cross border, with DRIVE Pay, you’re about to do it in seconds, and again, very easy adoption for clients, because we use the SWIFT network.”

The choice to work with BSV came down to plenty of reasons, and as Hiscox explained, it just made a lot of sense for their needs. “Bitcoin SV have proven they have an enterprise mentality,” Hiscox explained. “They can deal with the kind of scale that we expect DRIVE Pay to deliver. We felt pretty good about their coin as a bridge currency in the same role as XRP is for Ripple. And they’ve just been a tremendous partner.”

CoinGeek Seoul bring the Bitcoin world together in South Korea

CoinGeek is gearing up for yet another big event in the Bitcoin community. The CoinGeek Seoul conference is scheduled For October 1-2, and the best and brightest of the Bitcoin SV (BSV) world will once again come together to discuss the most important topics of the Bitcoin space.

Scheduled to be held at the Le Meridien Hotel in Seoul, South Korea, CoinGeek Seoul 2019 will showcase several high-caliber speeches and panel discussions. Visitors can expect to hear from Bitcoin thought leaders, crypto miners, influential enterprises and many important figures from the industry.

Day 1 of the event will focus on the developers and miners of the BSV world. These individuals and teams help to support and create innovation in the industry, and if it’s anything like CoinGeek Toronto 2019, you can expect to see exciting new technology on the way, and perhaps a few announcements of applications nearly ready to go.

On October 2, the focus will be on businesses, and several experts will demonstrate how with BSV, new business models are being made possible, and enterprises can find new ways to save money on their bottom line. There will also be the second Bitcoin Association Virtual Hackathon contest finals, and if it’s anything like the first one, you’ll witness three exemplary presentations of new and exciting BSV apps.

Above all though, CoinGeek Seoul will be a great chance to meet and mingle with other enthusiastic Bitcoin supporters. CoinGeek Conferences are always a very positive and exciting events, and attendees are guaranteed to meet like-minded individuals who just want to create a better world through the exciting possibilities of Bitcoin SV.

Unlike CoinGeek Toronto or CoinGeek Week, tickets for this conference will cover the whole event. For the price of $399, you get access to both days. That’s two whole days in beautiful Seoul, with the events of the conference and the after-hours parties that are sure to be a blast.

You can buy your tickets now, and don’t wait, as tickets for previous events sold out. Great news too, you can save a huge 20% on your purchase by using Bitcoin SV for your purchase.

Simple Cash review: Easily introducing your friends to Bitcoin

Do you have a friend or family member that you need to send money to, and you happen to have some Bitcoin SV (BSV) available in your Money Button? Simply Cash, the easy to use BSV wallet, makes it so incredibly easy to introduce someone to the Bitcoin ecosystem and get them set up with their first wallet.

Not too long ago, introducing someone to the digital currency could be a bit confusing. Really, the only way to go about it was to convince them to download a janky looking wallet, teaching them how QR codes or addresses worked, and hoping they didn’t mess something up, sending money into an unrecoverable void.

While interfaces have gotten much better, and several BSV wallets have made the experience much simpler with additions like Paymail and HandCash handles, Simple Cash might have come up with the most user friendly introduction.

Thanks to their Send BSV via URL feature, Simply Cash lets you set up either a single use website to send BSV to a friend, or multiple gift cards you can share with anyone. To do so, simply visit simplecash.live, provide an optional name and description, and swipe the Money Button to load up the new URL with BSV. You’ll then get a URL address you can send to the recipient, who can then scan a QR code to receive the funds.

What if they don’t have a wallet, you ask? That’s where the folks at Simple Cash are ahead of the game. Every URL created through the feature not only presents the QR code, but also provides an easy to follow five step process to download Simple Wallet and receive the funds. That makes introducing a Bitcoin newcomer to the BSV ecosystem incredibly easy.

Just because the app goes by the name Simple Cash doesn’t mean the team behind it aren’t working on some really cool, more complicated tools though. The wallet has multiple recovery techniques, making it an easy proposition for newcomers to keep their funds safe and recoverable. They’ve also added support for offline signing, effectively making it possible to create cold wallets with Simple Cash.

If you are looking to evangelize BSV to some of your less tech savvy friends, there’s not too many better options than giving Simple Cash a try.

How Kronoverse revolutionizes multibillion-dollar gaming industry with Bitcoin SV

By now, everyone even remotely connected to the blockchain industry should realize the power that the technology offers for providing better transparency, better record-keeping and better peer-to-peer (which includes B2B and B2C) interactions. The capabilities of blockchains are only limited to one’s own imagination and, with the recent success of Bitcoin SV’s (BSV) Quasar upgrade to expand block sizes, BSV is leading the way toward more blockchain adoption. Kronoverse, a gaming and esports platform, recognized the potential of BSV to help the multibillion-dollar gaming industry and is building its entire company around BSV technology.

In a recent presentation on Kronoverse and why blockchains are important for gaming’s future, Kronoverse’s Adam Kling and David Case provided a detailed overview of how BSV will change competitive gaming. With so much at stake — millions of dollars in prize money each year — it’s important to ensure that nothing about a game competition is left to chance. The community is forced to assume that everything is operating legitimately, but the back end of gaming operations remain hidden away and private. BSV is now helping to change this. (1:15)

Game data can be mapped to the blockchain in order to give new benefits to players and developers. Not one company would own the data — it would be accessible to everyone. Today, the back-of-the-house operations are unverifiable and proprietary, forcing the gaming community to trust that everything is legitimate. By moving games to the blockchain, actions can be chained together to provide proof of all activity and also to provide better transparency.

Using BSV would allow the permanent storage of all achievements, all game histories, all wins and losses and all purchased or won items. It would also facilitate the ability to view past games, publish new content and to watch live games easily from anywhere. It can also create new revenue streams that were never possible before.

Kronoverse is making this possible and is revolutionizing the gaming industry. Through systems such as its Kronicler fair witness agent, player actions are viewed and additional input can be added. This allows escrow, time-stamping, flow control, random number generation and more to be added.

This is possible on BSV because of the blockchain’s versatility. Every game is comprised of a series of transactions, or data, and creates one straight chain of events that represent the specific game. Every move becomes a signed Bitcoin transaction, allowing a permanent record of every individual action in the game. (10:14)

CryptoFights, which is backed by Calvin Ayre and others, is a live version of a BSV-based game that has the look and feel of any other battle game. It operates just like any other game, but incorporates the strength of the BSV blockchain to offer a better solution that puts the true gaming power in the hands of the players where it belongs.

BSV is revolutionizing the way the world views blockchains and Kronoverse is revolutionizing the way the world views gaming, thanks to BSV. With the proven capability to offer large block sizes of over 2 gigabytes, BSV is quickly becoming the ideal blockchain solution for businesses around the globe.

Bitcoin’s scaling will create a global payment system: Jimmy Nguyen

It’s been over a decade since Bitcoin launched with the vision of a global peer-to-peer electronic cash system. However, ten years later, Bitcoin is yet to wage serious competition against the very systems it was invented to compete against. This has been mainly because the developers behind SegWitCoin (BTC) have failed to enable significant scaling of any kind, leading to slow and expensive transactions. As Jimmy Nguyen, the Founding President of the Bitcoin Association explained in a recent post on Payments Journal, Bitcoin SV (BSV) is addressing these challenges and creating the fastest and most cost-effective global payments system.

When Dr. Craig Wright launched Bitcoin a decade ago, he envisioned a network that had no restrictions in regards to the number of transactions it could process. Dr. Wright, better known in the crypto universe as Satoshi Nakamoto, wrote, “The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling.”

However, his vision failed to materialize after the block size was capped at 1MB early on in Bitcoin’s journey to protect the network from attack. While the capping was supposed to be temporary, BTC developers have failed to increase the block size as the number of users has increased.

The result has been very slow transactions, failing to compete with other centralized payment systems such as Visa. For instance, Visa processes 2,000 transactions per second on average while BTC can only perform an average of three transactions per second. The charges are also quite high, hitting $40 in January 2018 and currently standing at $4.

This all changed in November 2018 when BSV emerged to fulfill Satoshi’s original vision. BSV began with a larger block cap than BTC at 128MB. However, the team behind BSV didn’t stop there and with the recent Quasar protocol upgrade this month, the maximum block size has hit 2GB. And even this isn’t the ultimate goal, with BSV developers planning to remove the block cap entirely. Nguyen revealed:

In fact, one of the leading BSV development teams (nChain) is working toward terabyte size blocks (1 million megabytes!) to process billions of transactions per block and 4 million transactions per second. That future means BSV can be the world’s public data ledger, recording payments and all kinds of other enterprise data transactions.

BSV is a godsend for the payments industry, with charges being lower than 1 cent. Popular payment card systems charge as high as 3% per transaction. BSV will also revolutionize the cross border payments industry. Its global nature will ensure that no matter what part of the world you hail from, transferring value will be as easy as sending a message.

For merchants, speed is of the essence and BSV has solved this challenge. Transactions can be confirmed instantaneously and with the immutable nature of the BSV blockchain, they can’t be reversed. As Nguyen revealed, BSV development teams are also working on “solutions for safe instant transactions, so merchants feel comfortable accepting payments even before they are confirmed on the blockchain.”

He concluded, “Over 10 years since the birth of Bitcoin, it is time to fully realize the vision for a new electronic cash system. That requires big blocks to create a big global payment network. This “Satoshi Vision” will only happen on Bitcoin SV.”

Dr. Craig Wright: Understanding the message of Bitcoin halvings

The reward model of mining Bitcoin was designed not just for a purpose, but to also send a message. That’s the lesson from Dr. Craig Wright’s latest article, Zeno’s Paradoxes and Bitcoin, where he not only explains what that message is, but clarifies what it means for Bitcoin’s future, now being found in Bitcoin SV (BSV).

The Zeno Paradox Wright specifically refers to is the Dichotemy paradox, which states:

That which is in locomotion must arrive at the half-way stage before it arrives at the goal.

– Aristotle, Physics VI:9

In the context of Bitcoin, this refers to the halving of mining rewards over time. In Zeno’s context, the paradox was that an infinite number of halvings sets up an infinite number of tasks, preventing the goal from ever being achieved.

“If we take 100 as an arbitrary amount because percentages are linked to 100, we can now transform the values in a way that has meaning,” Wright notes. “You will notice the block reward in the first four years to have been at 50 bitcoin per block for the subsidy. It then drops to 25, then 12.5; and so on. And I have written them as 50/100, 25/100, et cetera for a reason.”

Wright comments that he set up halving to work this way to specifically signal exactly how much Bitcoin was already mined, and how much remained. “When the block subsidy halved to 25 bitcoin, miners knew at a glance that 50% of the bitcoin that would ever exist had been put out to market and that 25% would be remaining after the current block-subsidy period,” he writes.

What is the message meant to say? Not that halvings should create bumps in value, but rather than they won’t. It’s a signal that mining for block rewards has a lifespan, and that another motivation should take over in the long run.

Unfortunately, those who seek to keep Bitcoin as nothing more than a store of value, specifically the SegWitCoin (BTC) promoters, have flipped the meaning of halvings. “Instead of a Zeno’s paradox, some promoting bitcoin in a Ponzi-like manner arguing that the price will double every halving are subject to the Persian chessboard or the rice and chessboard problem,” he notes.

Specifically, BTC halvings have been pushed as a reason for the price to jump. On the surface, that sounds great for investors and miners alike, as a higher price would mean rewards would be worth more, assuming the price kept climbing with adoption. In practice though, as rewards will eventually halve to the point of worthlessness, without a better business model, miners will drop off, making the blockchain worthless.

The solution to this, as Wright has always envisioned, is in transaction fees. In a massively scaling model, now pursued by BSV, countless transactions take over as a new profit motive for miners, replacing block rewards entirely in the future. “Luckily, we have managed to demonstrate blocks the size of 2 GB on the Scaling Test Network (STN) and will be increasing the capacity further at a level that applications and other development teams can keep up with,” he writes. “In the coming years, we will be running blocks that are in the order of tens of terabytes in size. We will do so at a rate and cost that allow us to subsume all other transactions on the globe. We will do it more securely and inexpensively than PayPal, than Visa, than Mastercard, or than cash.”

As a final note to those who continue to push BTC as the government-averse option, Wright notes that they are totally missing the point. “Bitcoin’s value did not ever lie in subverting government or banks, it lies in Bitcoin’s efficiency,” he concludes.

Operation Data Blast shows Bitcoin SV’s power

On Sunday, thanks to the recent Quasar upgrade on Bitcoin SV (BSV) that raised the block cap to 2 gigabytes (GB), BSV enthusiasts conducted a large initiative to upload data to the blockchain. Not only was it successful, but it reiterated the fact that on-chain scaling of an order of magnitude larger than anyone thought possible on a blockchain is possible and sustainable.

Operation Data Blast, as the event was called, brought “hundreds of Bitcoin Society members” together to “upload meaningful media onto Bitcoin’s public blockchain.” The activity is still underway, as of this writing, and is expected to last through “Monday lunchtime in Asia Pacific.” By providing a large window, BSV and crypto enthusiasts from around the world have an opportunity to participate.

According to Dr. Roy Murphy, who helped organize the event, “Bitcoin isn’t where it should be after a decade. Being usurped by various entities with nefarious intent has created forks of the original protocol and the carefully orchestrated manipulation by these bad actors have destroyed many of the key tenets of Bitcoin, whilst coercing bucket-shop crypto exchanges to capture the trading Tickers of Bitcoin (XBT and BTC) by centrally governed entities whose objective is to command and hobble the Bitcoin protocol via the hostile takeover of protocol development.”

He adds, “With this in mind, ‘Operation Data Blast’ is the swan song, a last hurrah to those who spent so much time and effort into diminishing the integrity and genius of Satoshi Nakamoto’s creation. It’s giving ‘the bird’ to those who restricted Bitcoin to 1MB [megabyte] blocks, servicing a paltry 7 transactions per second to line the pockets of those interests whose only wish was corruption, anonymity, control, destruction and power.”

If anyone expected the large data upload to be a burden for the BSV blockchain (and there were definitely some BTC shills counting on it), they were greatly disappointed it. On the evening of July 28, as pointed out by Derek Moore on Twitter, “Bitcoin SV produced 4 ~250 MB blocks and a plethora of big blocks today during a User-Activated Stress Test (UAST) during which valuable data was archived on-chain, totaling about 2.5 GB of multimedia & hypermedia content.”

The Quasar upgrade on BSV was nothing short of a huge success. When the Large Hadron Collider was preparing to slam two particles together in September 2008, many people thought the world was going to come to an end. When BSV announced it would be raising the block cap to 2GB, many people that the crypto world was going to come to an end. Just like CERN proved them wrong in 2008, BSV has proved everyone wrong in 2019.

Steve Shadders: Bitcoin development approaching exponential payoff

The continued development of Bitcoin SV (BSV) sits largely on the shoulders of brilliant men like Steve Shadders, chief technology officer at nChain, and his team. CoinGeek’s Becky Liggero caught up with him on Developer’s Day at the recent CoinGeek Toronto 2019 scaling conference, and they talked about the effort that has gone into BSV and what’s coming next.

Developer’s Day was a great opportunity for the world to learn what’s coming down the pipe from all sorts of businesses, but also for the one’s doing the work to feel in their element. “Well today is actually really exciting for us as developers because it’s the time when we can just talk as technical as we want. We can really nerd out,” Shadders said. “But it’s important, I think, for developers to keep their focus on user experience. And in fact, we have a whole section of the day devoted to that.”

As the infrastructure of Bitcoin gets back to the vision it was originally intended to have, there’s been a new focus on a more user friendly experience. “It’s important to make things easy for people so that they’ve got a friction free path into Bitcoin,” Shadders told Liggero. “And that includes developers as well. Our recent hackathon, the twist of the theme was take the onboarding problem for users, but also apply it to developers as well.”

All the same, 2019 continues to be the year where Bitcoin scales the blockchain massively, and that’s been Shadder’s focus. “There’s a whole lot of work sort of behind the scenes to do with scaling, which I won’t get into the technical detail of that because it’s pages and pages,” he said. “Really exciting stuff increasing our capacity.”

He concluded by telling Liggero how close the BSV community is to seeing incredible changes thanks to massive scaling, something that’s already being proven since the Quasar protocol update was pushed out:

“You know, we’ve got incremental changes, but the thing with development life, it’s sort of an exponential payoff. You lay a lot of groundwork and then you reach a point where you start reaping the rewards over and over and over again. And we’re at that pointy end of the curve right now so it’s fantastic. The new mechanism of block propagation really solves one of the big problems of Bitcoin. There is no barrier to us now for scaling.”

Facebook should forget Libra, launch stablecoin on Bitcoin SV

I think Facebook is realizing the obvious — its Libra stablecoin project is never going to properly get off the ground. Several countries have already come forward to say that they will completely ban the digital currency, while others are pushing for a complete and thorough investigation, coupled with regulatory approval, before allowing the project to see the light of days. The social media giant has stated that it is willing to wait as long as it takes regulators to determine the viability of the project, but there is a much simpler, much more accessible alternative: give up the standalone crypto and launch a fully-backed stablecoin on the Bitcoin SV (BSV) blockchain.

Facebook could also go a different route and just let BSV become its currency. With the lowest fees of any crypto and the proven capability of being able to handle a large number of transactions simultaneously, thanks to the Quasar upgrade, Mark Zuckerberg can stop beating his head against the wall and offer a cryptocurrency that meets his Libra goals — a worldwide payment solution that is available to everyone, even those who have no access to banks.

The U.S. government is trying to prevent large tech companies from entering the financial space. A bill has been drafted by the House of Representatives that is aptly called the “Keep Big Tech Out Of Finance Act” bill. It states, in part, “A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value, or any other similar function, as defined by the Board of Governors of the Federal Reserve System.”

This would preclude the participation in a financial system by companies like Google, Facebook and virtually any large tech entity.

The Tokenized Protocol on BSV is a great way for businesses to tokenize assets and offer those assets to customers. This would be a solution that could be easily integrated and easily implemented by Facebook, saving the company from the hassles it currently faces through global regulatory scrutiny. According to Tokenized founder and CEO James Belding, “That simple truth is that organizations must comply with the laws and regulations of the jurisdiction they reside in. Building the technology around a sensible assessment of these solution requirements allows for a token system that is much more expressive, performant, secure and lower cost than competing solutions.”

BSV understands something that other major crypto projects don’t. Bitcoin wasn’t created to be above the law, nor is it meant to allow users to circumvent the law. On the contrary, it was designed to work within regulated financial frameworks while giving consumers easier access to currency solutions. This is what Libra has professed itself to be and, given that BSV is already a regulation-friendly digital currency, it is fitting that Facebook turn to the real Bitcoin in order to fulfill its goals.

Dr. Craig Wright talks to Bitcoin and Beyond on Bitcoin’s history

Following the momentous Quasar protocol upgrade, Bitcoin is closer to Dr. Craig Wright’s vision than it has been in years. The man behind Satoshi marked the occasion by sitting down for a chat with YouTube channel Bitcoin and Beyond, discussing a range of topics including the upgrade, Bitcoin’s purpose, and some of his detractors.

After introductions were out of the way, Connor Murray wanted to dig into some classic Satoshi quotes with Dr. Wright, beginning with how Bitcoin protects the value of currency better than fiat. Wright explained with a history lesson how countries like Spain have devalued wealth through gold rushes and issuing more fiat through central banks, two issues that simply aren’t problems with Bitcoin.

Next they moved into why Bitcoin is superior to Ethereum. “They never took the time to actually work out how Bitcoin actually works,” he declared. “Why it scales, they ignored my initial quotes. They have this idea that everyone should run a node, and they want to make something along those lines. It’s the opposite of Bitcoin. Bitcoin is a capitalist system, they want to make a socialist system. They’ll call it anarchist, but the reality is if everyone is equal, it’s Marxist, and it is purely, exactly, communist.”

Next they touched on SegWitCoin (BTC), and how it hijacked the original idea of Bitcoin and took out the concepts that Wright originally envisioned. Quite simply, they needed Bitcoin to work for dark websites and for criminal transactions. Because Wright put in an honest, transparent system of peer to peer money, they needed to remove the tools that could be used to put them in jail.

Dr. Wright had to be careful with his words throughout the interview, as many of the rivals he’d like to discuss might be involved in lawsuits Wright is already pursuing. Quite simply though, those that are defending the system BTC has pursued need a currency to continue their criminal empires with. As Liberty Reserve proved, Dr. Wright points out, when the world discovers what they’re doing, their empire will fall quickly, as in that case, 42 countries turned on it very quickly and shut it down. 

The interview covers lots of ground about Dr. Wright’s earlier days, before Bitcoin and then shortly after its creation. He tells stories about his time with the Australia Stock Exchange, his time in the gambling industry, and his many battles to keep Bitcoin in his original vision.

The conversation then shifts to a look back at a Satoshi quote regarding the multiple uses Bitcoin could eventually adopt, exactly what it’s doing now with Bitcoin SV (BSV). That’s not what developers of BTC have pursued, with block sizes specifically kept smaller to keep users more anonymous, Wright points out.

As Wright concludes, now that the Quasar protocol upgrade has successfully pushed through, Bitcoin is realizing its dream of scaling to the needs of the world. It’s achieving the purpose it was originally designed for, specifically meeting the needs of the 99.9% of people in the world who need it for legitimate purposes, like those he recently visited in Bogota. He’s uplifted by the work of companies like Centbee who are helping to bank the unbanked. Speaking specifically about the path to Genesis, Wright concludes:

We’re going to get bigger. We’re going to build more. We’re going to let people come up with anything they want.