For the supporters of the original Bitcoin, as envisioned by Satoshi Nakamoto, here’s a challenge for you: can you live in a space where everything uses Bitcoin SV for a week?
That’s just one of the things that attendees can expect at the upcoming Expo-Bitcoin International 2019 in Bogota, Colombia—the first of its kind to take place in Latin America. The five-day conference features a host of opportunities for both the Bitcoin society and cryptocurrency enthusiasts alike to discuss adoption and learn “what Bitcoin already is.”
Event organizer Bitek describes Expo-Bitcoin as “a marketplace that functions as a small world where Bitcoin is the only payment method.” In an interview with CoinGeek, CEO Boris Javier Barrera Garcia explains:
“People will have the opportunity to live five days of a socio-economic experiment in a space where everything uses Bitcoin (SV); the reality is that a new community is being shaped by this libertarian money. This is really disruptive, so we have made a real bet for Bitcoin SV from the very beginning, since you cannot buy your tickets for the Arena but by using Bitcoin SV and everything you see at the Exhibit, you will be able to purchase using BSV—other cryptos also allowed depending on the merchant but no fiat currency is allowed. In the end, we want to demonstrate that markets can work in compliance with legal rules using Bitcoin as a mean of exchange.”
Expo-Bitcoin International 2019 will take place on June 19-23 at the Corferias, the international convention center that has hosted events in the country since 1954. Among the key features of this landmark event is The Marketplace, which has over 200 commercial stands offering products for sale with BSV, and The Bitcoin Arena, where delegates can watch as the brightest minds of the BSV society discuss Satoshi’s vision—from Bitcoin creator Dr. Craig Wright and Founding President of the Bitcoin Association Jimmy Nguyen, to BSV experts including MoneyButton CEO Ryan X. Charles, nChain CTO Steve Shadders, HandCash CEO Alex Agut, and other thought leaders like Coinlogiq CEO Dwayne Golden Senior, NEM Foundation Council Manager Pedro E. Gutierrez, medical surgeon Dr. Miguel Parra Saavedra, and Bitcoin advocate Connor Murray, among others.
“The Bitcoin Arena is the Agora of the modern economic thinkers. We brought the best, those who understood the importance of Bitcoin and the instrumental role of a stable protocol in Bitcoin,” Garcia says. “Many others fell in the way of confusion, but a remnant stays with the flag of this Libertarian, respectful of the law, peer to peer, Caesar-less money. That discussion not only about the technical topics but the philosophical views of Bitcoin have amazing importance that history will ponder.”
The event, as Garcia puts it, is all about allowing the laymen to experience Bitcoin in a marketplace where merchants are protected “as they would be in the real world by third parties like Bitek.” It’s also the perfect opportunity for network marketers in Colombia “who need to understand that Bitcoin is money, not another ‘get rich fast’ scheme.”
He notes, “We at Bitek always believed that real adoption needs payment processors since Bitcoin is not legal tender, most of the commerce would need to have cash flow in their local currency and that, among other reasons is why they are afraid to receive Bitcoin openly as a mean of exchange, so having POS applications with payment processing is absolutely necessary in this early stages.”
Colombia is just the first for Expo-Bitcoin International. Bitek plans to hold the event every two years going forward. According to Garcia, “We are Colombians, we love our country and we think this is an important door to Latin America. Beyond that fact, being objective, Colombia has the fifth largest bitcoin community in Latin America, and the third fastest growing in volume of Bitcoin transactions. And Bogota is the neuralgic center of this fever. We need to hit in Bogota first, but also Medellin is a very important node in this ecosystem, we plan to be there in the future. Other cities in Latin America are very important so we think in the future we have a lot of places to look at.”
It’s not too late to join this history-making conference. Get your tickets now, and seize the opportunity to learn more about BSV and find out all the ways it will change the future.
The celebration of Bitcoin, now reborn as Bitcoin SV (BSV), was fully on at the CoinGeek Toronto scaling conference. To discuss where Bitcoin is headed now that it’s been unleashed with massive scaling on the blockchain, its creator himself, Dr. Craig Wright, joined CoinGeek’s Becky Liggero.
The Toronto conference was a key point in Bitcoin’s history, and Wright was happy to see the crowds gathering to celebrate its history, and momentum going forward. “It’s good to see the energy and the vibrancy of the place at the moment,” he said.
Now that BSV is ready to follow the original vision of Satoshi himself, Wright expects it to bring a respectability to digital currency. “Bitcoin is an immutable evidence trail,” he explained. “It is a single global ledger. Once we roll it out, we’re going to make fraud expensive, fraud difficult. We’re going to make it so that people can actually trust money, trust negotiating with people. Because there’s no way of getting away with something bad, there’s a record kept of everything.”
With nChain recently having proven that the blockchain can scale as massively as they want to, Wright was in a very good mood. “Well, as Jimmy would say, ‘I like big blocks and I cannot lie,’” he said. He went on to explain where the team is currently at in their scaling milestones:
“We are now able to get to a point where, at 1.4GB, we stopped doing the testing not because we were running out of capability with the node, but we have to let some of the environment and the infrastructure catch up. So the block explorers and other things like that were having problems. It’s not actually our nodes that are not at that level, they were getting to 1.4GB fine, but the ecosystem needs to start realizing that they need to increase capability as well. So we’re letting them catch up a little bit.”
Wright used some of his time on stage at CoinGeek Toronto to talk about the rise of the Metanet, the BSV replacement to the internet. Development is coming along quite well, he noted. “We seen yesterday Ryan [X. Charles] was talking about identity systems now that can be built into Bitcoin and blockchain,” he noted as an accomplishment. “And we will have documents and blogs and training materials starting to come out from nChain, so that people can start building and developing the incentivized version to replace the internet. The new way of doing things.”
The key thing that will drive the success of the Metanet is the economic model it creates that improves on the current internet. “Not a system based on popularity like Google where it’s really about selling advertising,” he was keen to point out. “So you don’t care about the value of what you’re advertising, you care about how many hits. We want people to get value for their money. So they don’t go to the site just because lots of people do; they go there because it has the best information. Something that is actually good.”
Bitcoin podcaster Peter McCormack has sought for a deadline extension to file his defense against the libel claims filed by Dr. Craig Wright.
The host of the What Bitcoin Did podcast initially had until June 13 to respond to Wright’s libel claims, but his lawyers have requested the court a 28-day extension on his behalf citing the hospitalization of the lead partner at RPC as part of the reason for the delay.
Wright’s legal representatives have agreed to McCormack’s request as long as the podcaster shouldered the costs of the application to get a court order. McCormack agreed, and would also pay Wright’s “reasonable costs” resulting from his application for a deadline extension. The costs, while not expected to be substantial, might still take a chunk out of McCormack’s defense funds, which he planned to raise via crowdfunding.
McCormack now has until July 11 to file his defense.
In mid-April, Wright filed a formal libel claim in the UK High Court of Justice, Queen’s Bench Division, against McCormack, who has publicly accused the nChain chief scientist of being a fraud for maintaining that he is the man behind the pseudonym Satoshi Nakamoto, the inventor of Bitcoin.
The libel claim against McCormack cites numerous examples of the podcaster’s official Twitter account accusing Wright of being a fraud, which appears to be an ongoing activity as evidenced by his latest post:
Craig Wright the lying fraud’s latest Medium post – pot calling the kettle black.
Also, the quality of a relationship is not relevant to intestacy.
Previously, McCormack claimed Wright was a fraud for “promoting a fake version of bitcoin.” This is in reference to Bitcoin SV, which Wright supports as the only blockchain-based technology capable of massive on-chain scaling enabling it to become a truly global payment platform. Wright, considered to be the driving force behind the BSV protocol, is convinced that the attacks against him are intended to take down BSV as it represents a threat to the future of other cryptocurrencies.
At its core, Bitcoin was meant to be a system of money that is decentralized, while still adhering to the laws of the land. Now that it’s been reborn as Bitcoin SV (BSV), Dr. Craig Wright took the stage at CoinGeek Toronto 2019 to explain how it’s ongoing development will focus on this aspect.
When Bitcoin was hijacked by the Bitcoin Core team and became SegWitCoin (BTC), they focused on the supposed anonymity of it. But Bitcoin was never meant to do that. “Sorry, you’re not anonymous.” Wright declared. “Sorry, Bitcoin doesn’t help you hide. Bitcoin follows the law. Bitcoin is an immutable evidence trail.” (1:07)
Expanding on where BTC has gone, Wright described the intention of it’s developers and promoters. “Right now, BTC is still used because of the illegal operations, like Binance and Bitfinex and Tether, to fund illegal operations pumping money,” he explained. “Illegal money travel. Illegal use of people smuggling.” (2:17)
Wright then touched briefly on the various elements of the R Puzzle, which will allow Bitcoin to become a better ledger of truth. By being a public ledger of accountability, BSV will help the world by proving what is true, and debunking what is false. Wright explained the endgame:
“We need a society that has people who are accountable for their actions, who when something goes wrong, can answer. That isn’t set so that you can never change a contract. Contracts are flexible for a reason.” (12:31)
Wright then touched briefly on the Metanet, which was explained in technical detail by Jack Davies, but for which Bitcoin’s creator explained how it will create a better system of value for the internet:
“So the Metanet changes everything. Google, Facebook, Twitter, they make money because of the perverse nature of incentives on the Internet. They treat popular as good. Popular is not good. Popular just means lots of people looked at it.
“What is better? Is the Wall Street Journal a better source of news, or Kim Kardashian’s Facebook stream? I don’t know about you, I would rather trust Wall Street Journal. But then, they don’t get as many readers. Metanet incentivizes things differently. When you incentivize by the number of advertising clicks, you incentivize the lowest common denominator. Trolls become valuable. Slander becomes valuable. Lies become valuable. Insults, flame wars, all of these become valuable. Because they have more advertising revenue.
“Bitcoin makes an internet where pages are valued because they’re good. People are willing to pay not for flame wars, but content. The best content wins. That is important.” (15:19)
Finally, Wright pivoted back to several important aspects of BSV contracts which will help it become a better contract system, and better adhere to existing laws. He briefly commented on Timed Access (21:15), Payment Mechanisms (21:40), Deterministic Keys (23:10) and a Blockchain Attestation System (23:54), all key elements to building better contracts on the blockchain.
Ultimately, BSV will be the winning blockchain because of its aim to adhere to laws, and help take down those who are blatantly trying to skirt them. That is Wright’s motivation, and he concludes by openly saying so:
“These are the sorts of things we want to build. I want a world where we’re going to help law enforcement collapse all of the scams. And as we find things like BTC and whatever else fighting to be more criminal friendly, I’m going to hand law enforcement the tools to make them obsolete.” (25:48)
In his opening speech (0:42), Nguyen said, “In reality, Bitcoin is really about truth, and it’s not something people really think about, so I want to explain to you three things today: why Bitcoin was born for truth, how Bitcoin’s history has devolved from that truth to things that you probably don’t realize, and finally, how we, with Craig and our team at nChain and many partners around the world, are trying to bring back truth to Bitcoin in the form of Bitcoin SV and it’s true Satoshi Vision.”
“There’s far too many blockchain projects in the world. There’s far too many cryptocurrencies. Just like the world operates on a single, global, public internet, our vision is the world operates on a single, global, public ledger where the truth of information, title changing of property from one hand to another, the custody of goods and supply chain management is all tracked out in the open on a single source of truth, which is the Bitcoin blockchain ledger,” Nguyen added. (7:09)
In reality, life can be complex. Contradictions exist because humans are messy. There is a quote by Ayn Rand that I like even though it’s not technically correct:
_”Contradictions do not exist. Whenever you think you are facing a contradiction, check your premises. You will find that one of them is wrong”._
In maths, we know that this is correct the world is not mathematics and people are not rational. That stated, whenever a contradiction does exist, we know that we do need to check our premises. What we find is that there is something amiss.
What I’d like you to think about is very simple. I am being painted as a fraud and a criminal by people who opposed me and my ideals. My ideas involve delivering an immutable evidence chain that will record transactions and make fraud difficult. On the other hand, we have people who promote anarchy and crime.
Let’s have a look at some of the critical detractors. Greg Maxwell was involved in anti-sec and helped with the theft of thousands of copyrighted documents and other intellectual property. He broke into computer systems and altered records and released this stolen information to the world and yet, he calls for me to be imprisoned as he claims I altered records.
Roger Ver is seeking to create dark web markets, and he was an early promoter and proponent of Silk Road. He was imprisoned for selling explosives and for fraudulently signing a declaration stating that these were not explosives amongst other things. He is promoting systems that will allow anarchy, drug markets, assassination markets and crime generally. And Yet, he calls me a fraud.
Vitalik Buterin has been behind the creation of the biggest Ponzi market and schemes this decade with ICO‘s that have extracted billions of dollars from unwary individuals. These ratios were created with the sole purpose of allowing people to bypass regulatory control and extract money from individuals who would not be permitted to trade as they are uninformed and unsophisticated investors generally. Vitalik calls this democratizing finance; generally, a term used when people seek to dupe the naive. He calls BSV a scam as we try to work within the government and regulatory controls.
CZ of Binance, and individual’s associated with him, run one of the largest money-laundering operations in the free world and seek to allow individuals to launder money using cryptocurrency easily. He calls me a fraud because I try to add KYC and AML requirements to bitcoin and other exchanges.
Effectively, these people call me a fraud because I’m willing to work within a regulatory framework. All these people opposing me seek a system that allows drug markets and crime.
What is interesting is that all of these individuals and practically everyone opposing me seeks to create a system that allows illegal activities to occur with impunity. I’m seeking a system that works within the justice system and law. Which one seems more likely to be the fraud?
Many of the basic aspects of the alt-coin world, accepted by many to be the future of digital currency, are in fact based in criminality. Dr. Craig Wright explores how pervasive this rot is in his latest article, “MSBs and Account-Based Systems.”
He begins exploring the basic natures of several cryptocurrencies and concepts, and breaking down how, even if their proponents don’t want to admit it, the law applies to them as they meet the definition of a money service business (MSB.) He writes:
“Monero and mixed coins (such as those using Schnorr) are engaged in the activity of money transfers and money handling… Every node and every software wallet engaged in mixing would need to fulfil the obligations that apply to a money transmitter…Peer-to-peer exchange is covered under the anti-money laundering (AML) rules.
“A money transmitter is any person engaged in the transfer of funds — any funds, including cryptocurrencies and bitcoin. If you are running a Lightning node, you are acting as a money transmitter. It doesn’t matter that you don’t like it. The law doesn’t care.”
This uncomfortable truth is something many in the industry don’t want to fess up to, as it would destroy their business models and wreck their prospects of bringing in money from more uninformed but idealistic investors. He adds, “The problem with the so-called “experts” is that they have no expertise. They seek to create a narrative and change reality such that it aligns with their beliefs, and believe that doing so will make them experts.”
The ideology they cater is the libertarian, anarchistic view that money should be divorced from government. Currencies like Monero specifically offer anonymity to attract this audience, and then end up being the tools of criminals. This is a dead-end trap, he notes:
“The error people make is that they think a cryptocurrency is inherently valuable because it can get around law. It cannot. The unfortunate aspect here for many investors is that they will wake up one day and find their holdings worth nothing.”
Bitcoin wasn’t made to be a method to escape the government’s reach, but as a method to keep all parties accountable via the blockchain. “I created Bitcoin to trump the anarchist ideas of money that could not be controlled and that acted outside of all regulatory controls,” he writes. “I created Bitcoin as an immutable evidence trail that is pseudonymous and cannot be made legitimately anonymous and continue to work.”
Those who praise the supposed anonymous features of cryptocurrencies, and doubt the government’s that want to crack down on them, notably John McAfee, are trying to create a system of lawlessness. That’s simply not a system in which a society can continue to build, or in which legitimate businesses can invest in.
Dr. Craig Wright has already told the world several times, and in several ways, that he is the creator of Bitcoin and the man behind Satoshi Nakamoto, but skeptics demand to see more proof. Steve Shadders, Bitcoin SV’s (BSV) technical director, has had the opportunity to see more proof than most, and took to Yours.org to talk about his feelings on the matter in his post, “On the Satoshiness of Dr Craig S Wright.”
In a beautifully written piece, Shadders notes that he chose to work with Dr. Wright without knowing the truth of if he really was Satoshi. He admired the man for who he is now, and the lessons he could share.
At this point, Shadders has come to accept that Dr. Wright was indeed Satoshi. Dr. Wright didn’t have to show him indisputable proof for that to be his conclusions, although it was offered on multiple occasions. He could probably ask at any time, and because they are friends, Dr. Wright would show him whatever proof he asked for.
He accepts the fact that Wright is Satoshi because of the immense knowledge and vision he shows for Bitcoin. The sacrifices he’s made, and the work he’s put into creating Bitcoin, are evident even on a cursory examination of his story.
Shadders reasons for not demanding to see proof are simple, but profound. The myth of Satoshi might have inspired the public to embrace Bitcoin, but the reality of who Dr. Craig Wright is, then and now, is even more impressive. Shadders concludes:
“Craig Wright has sacrificed so much more than a mere indulgence to bring Bitcoin to the world and I can never hope to match that. But I can at least give him my trust. It is the very very least I can do.”
As noted above, the entire piece is a touching testimony for why Shadders puts his faith in Wright. We really recommend you go over and read it in full to understand why, in Shadders eyes, Craig Wright has become a more important force for Bitcoin than Satoshi ever war.
I first met Roger Ver when I invited him to my Christmas party in Antigua in 2017. I sent a private plane to fetch him from the neighboring island of St. Kitts, where he lives part time.
I next met him in Japan in March 2018 when I went to a conference named Satoshi Vision with my friend Dr. Craig Wright. In Japan, Roger told me that he agreed that Craig was the person who had created Bitcoin under the name Satoshi Nakamoto.
Roger maintained this view right up until Craig refused to support Roger’s efforts to fork away from Bitcoin’s original protocol to the ABC technology that now trades under the BCH ticker symbol (which I refer to as Alphabet Soup).
The last time Roger and I met was in September 2018 at a miner’s meeting in Bangkok, where Roger had dinner with Craig, Jimmy Nguyen, Steve Shadders, myself and a few others. It was shortly after this meeting that Roger began pitching me on his new view that Craig was not Satoshi and that I should join him and the other Soupers on their poorly conceived plans to fork away from Bitcoin.
This was the point where we realized that Roger did not really support Bitcoin’s original design and was prepared to do anything to support his own version, including attacking Craig publicly by saying the exact opposite of what he’d told us all privately.
My refusal to follow ABC’s faulty plan marked the start of the world’s first hash war, which saw Bitmain nearly kill themselves in an unethical and likely illegal hash manipulation that ultimately allowed them to fork away from Bitcoin while keeping the Alphabet Soup ticker symbol and infrastructure.
Most of the ecosystem stayed with the original Bitcoin, which was now named Bitcoin SV (Satoshi Vision) and trades as BSV. The reason they stayed was that the developers understood that success depended on massive scaling and keeping the protocol stable. The BSV camp all got what we wanted, a continuation of the only Bitcoin blockchain that adheres to both the original protocol and economic model, and also scales massively on-chain.
Roger was recently sued in a UK court after he published videos and social media posts that libeled Dr. Wright. This case and others like it will firmly establish in law that Craig is Satoshi Nakamoto, as everyone – including Craig’s trolls – already knows, even if they won’t admit it publicly.
This is going to be massively embarrassing for Roger and others who cannot possibly win these cases. Lawyers have gone over the evidence and it all checks out: Craig is Satoshi and can prove it in court. The evidence is all out there in the public domain so anyone smart can independently make the correct determination on this.
In reality, this doesn’t even matter anymore, as Craig has already been proven right in the only arena that really matters: the technology. Craig has capably demonstrated that BSV does exactly what he said it could and as such the entire application development world is moving to it.
So I ask the question: Is Roger Ver a con man or a moron? I remain unsure of this myself but based on my own experience these are the only two options to consider.
Bigger blocks, massive scaling, and no limits. That was the theme of the CoinGeek Conference Toronto 2019, where all Bitcoin professionals from around the world gathered to talk not only about Bitcoin SV (BSV) developments, but also why massive on-chain scaling is essential for the ecosystem to move forward.
The main conference showcased high-caliber speeches and panel discussions—the hallmark of CoinGeek events. Special features include finalist presentations for the Bitcoin Association’s first BSV Hackathon, and a special intimate conversation with nChain Chief Scientist Dr. Craig S. Wright about the beginnings of Bitcoin.
Ryan X. Charles, CEO of Money Button, discussed “Digital Storage and Digital Rights Management on the BSV Blockchain with Money Button.” He tells us what it actually means to use massive on-chain scaling in a real business.
“Individual companies can often need terabyte size blocks just by themselves depending on what they do, so we need to scale massively because we’re going to put more than just one company—we’re going to put an entire industry, we’re also going to put the entire world’s economy on this,” Charles said. “The reason why that matter is it’s not even just payments. You actually can put real data on the blockchain too, and so the sizes start getting very, very large. If you need properties like, I really want this contract to be encrypted but also stored permanently and immutably so that no one can alter it after the fact, you put the actual contract on the blockchain. That takes data.”
Indie game developer Kronoverse built its platform for the BSV blockchain after seeing how the network is making unlimited scaling a unique reality. David Case, chief architect of Kronoverse, explains why BSV was their only choice:
“Well really, BSV is kind of like our only choice… it solves all the problems that we’ve been [having], and we’ve spent a year and half in R&D, [actually] over a year trying to just explore everything that’s out there in the blockchain space… Every step of the way, we had to solve all sorts of other problems, build all sorts of other toolings, and the scale and just being able to rely on the commodity blockchain that we don’t have to worry about how to solve the consensus aspect but yet having the scaling and the cheap transactions, just… it’s our only choice.”
For his presentation, Bitstocks CEO Michael Hudson talked about “Banking on BSV,” giving the audience an overview of what they can expect from Bitstocks’ groundbreaking Bitcoin banking ecosystem, Gravity.
“What we are launching first is the ability of the investment service, so the ability to hold Bitcoin [Core], Bitcoin Cash as well as obviously Bitcoin SV. The logic behind that is to enable people who might have a different view as what Bitcoin really is and while they’re going on their inevitable journey of discovery they have access to then convert their assets into SV if they wish to make that decision to then interact with the wider Gravity ecosystem, so that will be the current accounts, the debit cards, the loan systems, Gravity Pro which eventually is going to be some other cool things, I’m not going to announce right now, but they’re all going to be exclusively on Bitcoin SV. I don’t want to ostracize the Bitcoin Core community or the Bitcoin Cash community because they’ve been essentially miss-sold what Bitcoin is. We want to help support them and provide the infrastructure if they so wish to then have a much better experience that’s more in line with what we believe Bitcoin to be, which is Bitcoin SV,” Hudson tells us.
One of the highlights of CoinGeek Toronto scaling conference is a fireside chat with Founding President of the Bitcoin Association Jimmy Nguyen and Dr. Craig Wright, the person behind the pseudonym Satoshi Nakamoto and creator of Bitcoin. The two’s wide ranging discussion included topics like the beginning of Bitcoin—Nguyen opened the fireside by asking Wright, “Did you create Bitcoin?”—as well as the destiny that Bitcoin was created to achieve, and how Bitcoin SV (BSV) is fulfilling the destiny of Satoshi Vision.
In an interview with CoinGeek, Wright shared how it feels to see people building and moving the future forward for something he created. He said, “It’s good to see the energy and the vibrancy of the place at the moment. It’s wonderful.”
Wright also has this to say about Bitcoin and its future: “Bitcoin is an immutable evidence trail. It is a single global ledger. Once we roll it out, we’re going to make fraud expensive, fraud difficult. We’re going to make it so that people can actually trust money, trust negotiating with people, and because there’s no way to get away with something bad, there’s a record kept of everything, that’s what we’re seeking.”
For more exclusive interviews from CoinGeek Toronto and the latest in Bitcoin news and events, subscribe to CoinGeek.com.
The recent Fireside chat, hosted by Bitcoin Association Founding President Jimmy Nguyen with his special guest Dr. Craig Wright at the CoinGeek Toronto Scaling Conference, revealed a lot about the origins of Bitcoin. The 45-minute chat, with a closing speech from the man behind the pseudonym Satoshi Nakamoto, not only got into specific details about Bitcoin’s origin story, but about the vision it was given from the start.
Nguyen spent no time avoiding the biggest question. He started by asking: “So Craig, I have some questions for you today. Did you create Bitcoin?”
Dr. Wright succinctly responded, “Yes.” Nguyen followed up with the next logical question, asking “Why?”
The answer to that has a lot to do with Dr. Wrights past. He studied at the feet of academics who worked in the early days of cryptocurrency, but despite their efforts, it had never worked. His revelation was that the world needed a cryptocurrency that had respect of governments. To do that, it had to be traceable, so he married the concept of cryptocurrency to blockchain to accomplish that.
Although he took his first crack at it in the 1990s, the origin for the idea for Bitcoin came after his days at Newcastle University when he had a better idea of the history of money. When crackdowns on gambling happened in the mid-2000s, he realized there was a need for something to help licensed organizations transact.
Skipping ahead, he gets to the origins of the Satoshi Nakamoto pseudonym. He emphasized the name Nakamoto, for Tomasu Nakamoto, a mostly forgotten restoration period Japanese economist. That man existed in a time when Japan was closing down to foreign trade, but Nakamoto realized that growth can only happen with increased trade. He came before the more famous Adam Smith, but existed at the wrong place and time to gain the same recognition.
Satoshi comes from a much simpler origin. Ash Ketchum, the protagonist of the very popular Pokemon games, went by the name Satoshi in Japan.
Dr. Wright admitted to having plenty of help in his early days, specifically from Dave Kleinman in keeping the code from crashing; However, none of them were Satoshi.
The body of the work attributed to Satoshi Nakamoto were all the efforts of Dr. Wright in those early days. He registered bitcoin.org, and admits that it’s ugly design was his own efforts. He also held the email address associated with Satoshi until it was compromised. He also wrote Satoshi message board posts, and admitted that it took a lot of time, stepping away from his desk, to avoid angry rants that he’s become known for sometimes.
He also talks about leaving Bitcoin to prove that he wasn’t wrong about it. When asked to describe that, he points to what was happening with Silk Road and other illegal sites. Dr. Wright, crushed that his Bitcoin was being used for criminality, led him to think he had failed in his attempt to create a better system of money.
Nguyen and Dr. Wright then get into why all of the key elements of Bitcoin were decided on, like why the proof of work system was chosen, why 21 million coins as a fixed amount, and so on. Dr. Wright provides detailed answered for each question that are worth watching to understand, because as he explains, many people in the industry simply don’t understand Bitcoin.
They also dive deep into why he won’t bend to his critics and simply make transactions with Satoshi’s known wallets to prove he’s Satoshi. Quite simply, it wouldn’t prove anything, as anyone could have gained control of those keys. Besides, he’s got nothing to prove to his critics. He explains:
“I’m not asking for money from you. I’m not asking for a job. Do you know what the definition of privacy is? It means, if I go to you asking for something, I prove based on what I’m asking. I don’t go out to the world and pull my pants down and show you everything I’ve got. Doesn’t work that way. That’s not private.”
As they were wrapping up, Dr. Wright noted that he doesn’t regret anything in his creation of Bitcoin, or anything that’s happened since, especially as it has now started to realize its original vision of massive blockchain scaling and enterprise development on a stable protocol with Bitcoin SV (BSV).
He’s most thankful for his wife, who has supported him in the toughest times, and helped him navigate the world as the sometimes thorny and anti-social person he can be.
In his closing speech, Dr. Wright noted that he’s given the world the Bitcoin protocol, but that’s just the solid foundation from which developers need to go build on. He’s excited to see what talented programmers can do with Bitcoin, and create a new world of possibilities on the BSV blockchain.
That’s just the highlights though. If you really want to get into the mind of Satoshi Nakamoto, the only way to do it is to watch the whole video and get the full explanations from the man himself.
To watch the Fireside Chat of Bitcoin Association Founding President Jimmy Nguyen with Bitcoin creator Dr. Craig Wright, watch below.
I first communicated with Dr. Wright in a series of interviews in early 2016… shortly after him being outed, and he was still at this point, very much out of the public eye. However, former lead Bitcoin Core developer Gavin Andresen had already stated that he witnessed Craig sign with keys that only Satoshi Nakamoto could have possessed. I knew who I may have been dealing with…
I was cautioned prior to the interview… that Craig can be a little intense – (I don’t quite recall the word used but I think ‘intense’ is relevant enough).
Certainly at that time the VAST majority of Bitcoiners did not believe that Craig was the man behind, in my opinion, the greatest invention since the internet itself, and perhaps even bigger. But I kept a very open mind. He rejected putting out cryptographic evidence at a time where we told the world that he would, and instead posted the Sartre piece… choosing to reject the Satoshi title, which in retrospect he viewed as a bad decision. But the spectre of Satoshi loomed large and, as time went on, it became more difficult to separate Craig from the Satoshi saga, for reasons right or wrong.
When our interviews began, all I had known about Craig was that he at one point claimed to be Satoshi (but then seemingly retracted), and that this man was under incessant attacks.
I had no idea what I was getting myself into…
A little about me: I have a full time job working as a software engineer on a multi-billion dollar infrastructure project, and keep a number of Bitcoin-related projects going on the side. I never considered myself a journalist. I somehow became a bit of a voice (one of many) for the big-blocker party (to the newcomers, that basically means we wanted to scale Bitcoin), and my passion to see Bitcoin reach its potential led me to write a series of pieces in an attempt to get some minds thinking rationally, to see Bitcoin succeed. It was most definitely under threat from being choked to death with an artificial limit on transactional throughput.
This passion led me to Dr. Wright. I didn’t know his stance on the blocksize debate at this point… But I did know that Satoshi did want to scale Bitcoin. It was one of my first questions, to which he immediately responded with “we are going to make sure Bitcoin scales.” That was three years ago… and here we are Bitcoin SV is now looking at 2Gb blocks this year. In 2016, the idea of 2Gb blocks was inconceivable… not within a 3 year period…
After publishing articles based on a series of interviews, I suddenly found myself drowning in attacks. Death threats to my mailbox, countless anonymous accounts attempting to belittle, mock and claim that my own voice and judgement were amiss. Much of the social media trolling was an attempt to make my voice as irrelevant as possible. And believe me, it’s not without effect. You’d be surprised how many people read only half an article, only to quickly check the comments section to assess public opinion. And perceived public opinion does indeed sway things…
This has been Gregory Maxwell’s (former Blockstream CTO dedicated to making life hell for Craig and big blockers) modus operandi. There’s strong evidence now that ties a number of online accounts including the infamous ‘Contrarian’ to Maxwell. These accounts have been dedicated to undertaking an unprecedented, 24/7 social engineering effort in skewing the public perception of Dr. Wright to incredible consequence.
In fact, the seeds sown by ‘Contrarian’ played a significant role in the schism in the Bitcoin Cash community that led to the birth of Bitcoin SV. In perhaps one of the most ironic turn of events, kicking Dr. Wright out of BCH ended up making Dr. Wright’s position 100 times more powerful. We’ll get back to this point later.
In our interviews, Craig’s willingness to scale Bitcoin immediately brought my guard down. This man wants to see Bitcoin succeed like no other… and it was in one of the earliest memos where he actually mentioned that Bitcoin was Turing complete. This was a key point that made me prod further. Eventually he provided some information pertaining to a fundamental key decision in Bitcoin’s design which enabled Bitcoin to be Turing complete. It was admittedly a revelation. But the revelations kept coming… one after the other… For example, when everyone thought Bitcoin topology was a mesh, as noted in the Mastering Bitcoin book, Craig rightfully said it was a small world network.
This man undoubtedly had an intimate understanding of the design of the system. I asked about his academic record (which was also under attack), and he provided copies of his entire academic record, which myself and others then followed up to confirm. The impressive academic record, was real. To date now, the man has 17 degrees and is currently studying for his 3rd doctorate.
In the following weeks, I guess Dr. Wright began to trust me a little, and began sharing a large swathe of early research work which led to Bitcoin. This included research work pertaining to Bitcoin’s neural network capability, and even Blacknet (now known as metanet). Craig has no idea of this, but the large volume of his own research that he sent quite literally kept me up all hours of the night and I’d end up at work a zombie… Occasionally, I’d message him to say I really have to sleep, only to get more emails stating “more reading material”. It was a rough time.
If you approach in good will and without any ill-intention to the original Bitcoin design, Craig will most certainly be open to sharing with you. Just don’t expect an outright extrovert.
With the bulk of intimate knowledge possessed by Craig, and with the recent signings to Matonis and Andresen, I was confident that this was the main man behind the world’s greatest invention. Why is it the world’s greatest invention? Because the problem of money has been solved. Finally. And contrary to what you may read or hear, the protocol must absolutely be locked if you want to prevent any future government, company or developer group from hijacking the protocol again for self interests.
Particularly in those days, if you said you thought Craig was Satoshi, you would be flamed, cast aside into oblivion. This happened to Gavin Andresen… he got knifed, not by Craig, but by Core devs who were so threatened by his admission that Craig was Satoshi that they couldn’t bear to allow him to retain commit access and potentially reintroduce the creator who would steer the ship back to its original course. So not only was Gavin kicked off the project, he was mauled by savages and forced into exile.
I met Roger Ver in 2017, when we were all on the same side. We may not be on the same side today, but I do not think Roger to be a bad person at all. In fact, he’s quite humble for a multi-millionaire. But I do think he’s been given some shocking advice that’s placed him in a difficult trajectory… that’s my opinion and he would disagree, that’s fine. He offered me a lift to the airport – and, I’m a nobody — but he was nice enough to do that. During the ride, he shared that he had met Dr. Wright a week prior and that Wright had offered to sign with Satoshi keys as evidence. Roger responded that he believed him and that signing was unnecessary. Roger then joked “of course I’m not prepared to go public about it.” We all knew what ‘going public’ meant. It meant suicide… look what happened to Gavin, to Matonis…
We generally kept quiet, but even my mere assertion that Craig understood Bitcoin and knew what he was talking about was met with heavy gunfire.
In fact even a recent post by Ryan X. Charles (CEO of Moneybutton) which painted Dr. Wright positively was met with incredible criticism, – mostly by anonymous accounts.
Craig Wright has 17 degrees and he's getting two more PhDs right now, simultaneously, while working a full-time job. He is the most serious life-long learner and scientist I have ever heard of in my life. Inspiring.
And while his supporters deal with a lot of shit-flinging, it pales heavily in comparison to what Craig deals with.
Granted, Craig now has a much bigger support base, is much better structured and is now on the offensive. And with Craig’s move to openly state that he created Bitcoin as well, it has become much easier to say the same these days. And this is the point that was raised earlier… the fightback is only just starting.
Craig has been dealing with credible death threats, family threats, sexual abuse threats, smear campaigns and dirty tactics that would make a presidential election race look coy. That’s not an exaggeration. This has been happening from people seeking to silence and destroy Craig from years before he was outed… the information is out there if you look beyond the prevailing rhetoric.
These individuals attempting to silence Craig now find themselves dealing with a monster forged of their own actions. When criminals choose to attack from the shadows and threaten family members and attempt to subdue people, don’t be surprised when the campaign is returned ten-fold. And in attaining legitimacy for his actions and his proofs, Craig is seeking the courts.
Astonishingly, people are actually crying foul play. There is no institution in the world that is without issue or controversy, true. But compare the legitimate standing of the court of law to underground criminal organisations and you have chalk and cheese.
Admittedly, there are times where I have felt I needed to apologise for Craig’s behaviour – and I was wrong to even contemplate that. With everything he has dealt with, you cannot expect a compliant individual. If he was a pushover, Bitcoin would’ve died already. Jimmy Nguyen was right when he said “I make no apologies for Craig Wright… otherwise he wouldn’t be who he is today”.
And who is Craig Wright? Based on everything I have personally seen and witnessed, he is the genius behind Bitcoin and the Metanet. To the doubters, the evidence is coming (from numerous fronts, including some I am personally digging out myself, and even culminating in a signing), but NOT on your terms. A man capable of over 17+ degrees, including multiple doctorates, operating numerous businesses, with countless inventions, papers, and heading for thousands of patents… well that should be an inspiration to anyone wanting to attain anything in life… As Ryan X. Charles voiced “I thought it was humanly impossible to achieve so much”…
Instead, this editorial will be ridiculed (mostly by anonymous trolls), and every outlet that has any investment or allegiance with competing digital assets will trash it.