Craig Wright

Bitcoin inventor Craig Wright aims at a trillion transactions per second on BSV

According to Bitcoin inventor Dr. Craig Wright, the original Bitcoin—as in the BSV blockchain—is on its way to hitting 1 trillion transactions a second at its peak by the end of the decade.

Dr. Wright talked about these scaling figures in a new interview with The Jist on YouTube. But before Dr. Wright could even start getting into Bitcoin’s true capabilities, the host of the show had to express what he, as a journalist, went through before doing the interview.

“You are—without a doubt—the most controversial person that I have had on my show,” said The Jist host Josh Hamilton as kind of an introduction. 

According to Hamilton, no other guest so far has led to so much outrage against his show as Dr. Wright. 

What is so controversial about Dr. Craig Wright, though? Well, he invented Bitcoin—see the outcome of the Kleiman v Wright court case for more information. So people should celebrate the creator instead of losing their minds whenever he appears on a stage. However, nobody is actually attacking Dr. Wright; it is a commercial attack launched on him in order to stop the true Bitcoin.

“They are scared,” said Dr. Wright to Hamilton. 

Craig Wright cleans up the digital asset market—many do not like that

“The whole industry is based on lies, deception and fraud. The exchanges are—I don’t know one of them, one decent sized one, that isn’t a bunch of criminals. They are money launderers, they are scum, and everything else. And all through history, this whole ‘democratizing finance’ crap is the biggest load of shit that anyone has ever invented,” Dr. Wright said. He then explained how the current digital asset market is a Ponzi scheme

These words could be part of the reason why certain digital asset market participants invest lots of money only to damage Dr. Wright’s reputation instead of embracing his inventions. But enough of the crypto crime cartel, which is to be considered the past, let us instead see what Dr. Wright had to say about Bitcoin—the future. 

Silicon Valley oligarchy and Bitcoin

Dr. Wright explained to Hamilton that the advertisement business model of Silicon Valley is an oligarchy that keeps competition out. With Bitcoin, as in the BSV blockchain, people will be able to participate in an open global economy. Almost a year ago, Dr. Wright gave a keynote speech on that topic and said that he, with his work at nChain and in Bitcoin SV, would be able to destroy Silicon Valleys’ business model:

“In the next four years we are going to give you the foundation, so that there will never be a Twitter again. Ever. There won’t be a Facebook. We’re going to destroy their business model. This is why they hate me,” said Dr. Wright in his keynote speech. 

Hamilton went on to ask Dr. Wright why, in the past 10 to 15 years, the internet seems to have been subsumed by global corporations, leading to more and more centralization of the internet and social media. Dr. Wright points out that with direct payments—the true peer-to-peer payments as envisioned by him in the Bitcoin white paper—oligarchies cannot own parts of the internet anymore. 

BTC and other blockchain projects do not serve this purpose, as they cannot scale enough and are too costly to use for direct payments. The BSV blockchain has these capabilities, and that is why Dr. Wright is focusing his work on Bitcoin SV, the original Bitcoin that he invented. 

‘Have you read my white paper?’

“My creation, my rules,” said Dr. Wright to Hamilton, referring to his property rights concerning Bitcoin in general, as well as his copyright on the Bitcoin white paper. Wright explains that the people supporting BTC do not even understand Bitcoin, nodes, decentralization, and economy. 

“By definition, nodes create blocks…You have a few large nodes, and a tile of small ones. In BTC at the moment, 3 nodes control 60% of the network, and 15 in total that discovered blocks in the past 6 months,” Dr. Wright said. 

According to him, it is a lie when BTCers claim to have an unstoppable decentralized network with tens of thousands of nodes. There are no tens of thousands of nodes decentralizing anything in BTC, and Bitcoin was never intended to be unstoppable by governments anyway. 

Watching the interview of The Jist with Dr. Wright is an excellent way to get into the true history of Bitcoin and the plan for Bitcoin as intended by its creator. 

How will the global financial system react to the disruption by Bitcoin SV?

Hamilton ends the interview session by asking Wright how all of the BSV blockchain’s capabilities will actually be accepted by the current financial system. Admitting he can imagine a world running on Bitcoin SV as the transactional base layer.

“What I am going to be doing is teaching how we are going to be integrating this into 5G and 6G as part of the protocol, how we integrate this directly into IPv6—basically making Bitcoin part of the internet protocol. So that anyone will be able to directly use Bitcoin without any knowledge,” Dr. Wright said.

Sounds good! So what was all the noise that Hamilton experienced for this The Jist show? Probably the noise of disruption. Hamilton might have Dr. Wright on his show again in the future, and I think there will be less and less irritations concerning the creator of Bitcoin then, too.

Learn more about the true and originalBitcoin—BSV blockchain:

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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