nChain Chief Scientist Dr. Craig Wright has described how the cryptocurrency was always intended to be a network for micropayments, dismissing those who envisage the blockchain as a store of value.
Dr. Wright made the comments in an interview with CheddarNews, alongside Jimmy Nguyen, founding president of the Bitcoin Association.
He suggested that Bitcoin SV is the only cryptocurrency to reflect his true intentions for bitcoin at the time of creation, as a protocol for powering micropayments with the ultimate aim of creating a more effective, commercial Internet.
In the interview, Dr. Craig Wright is challenged on whether he is truly the person behind bitcoin and the original whitepaper.
Confirming he is indeed Satoshi Nakamoto, Dr. Wright said that Bitcoin was never meant to be a store of gold, or a store of value, but instead was always envisaged as a network for micropayments fueling commercial data networks.
“When I invented bitcoin back in 2008, 2009, the whole idea was about micropayments. It’s about a system that enables commercial internet use. It enables you to have rapid, fast settlement, secure systems, many other things — it was never a store of gold,” he said. “The other camp, the cypherpunks and whatever else, they’re the guys who want it to be something else. They want it to be a store of value, they want it to be outside of government – that’s not bitcoin. Bitcoin doesn’t work outside of governments.”
The respected academic and chief scientist at nChain said that despite claims from some in the crypto community who still support SegWitCoin (BTC), it remains far from a usable protocol for payments.
BSV allows microtransactions with the capacity for mass global scale, thanks to the superior technology and scaling capabilities versus other cryptocurrencies. This makes the protocol far more effective for developing and powering apps covering a range of commercial applications.
Increasingly favored by developers, merchants and consumers, BSV is fast becoming the mainstream cryptocurrency of choice, reflecting the true vision expressed in the bitcoin whitepaper.
The interview is the latest high profile media appearance from Dr. Wright, raising awareness of the benefits of BSV. Watch CheddarNews interview with Dr. Craig Wright below.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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