CoinGeek Weekly Livestream: An AMA with Kurt Wuckert Jr.

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Kurt Wuckert Jr. hosted an Ask Me Anything on the 34th episode of the CoinGeek Weekly Livestream. It was a goldmine of information on Bitcoin SV, mining, the upcoming Wright vs. Granath trial, and more.

A quick recap of an eventful week

Wuckert begins with a summary of the week: Alex Moon appearing on the Brittany Bitz podcast (yes, he’s real), a convention in Costa Rica, and the bombshell information from Crypto Leaks. It was an eventful week, with Kyle Roche and Emin Gün Sirer all fighting it out and attempting to expose one another amidst the leaks. He invites both Roche and Gün Sirer to do an interview to clarify matters.

SV Node

A viewer in the trollbox asks why SVPool has not closed down yet. Wuckert explains that they initially announced they would wind down on August 1 but pushed it back until September 1.

For those who don’t know, Wuckert explains the history. SVPool was, basically, Dr. Craig Wright’s pool. It started back in the Bitcoin Cash days. However, after a bunch of things were consolidated into TAAL (CSE: TAAL | FWB:9SQ1 | OTC: TAALF), he thinks SVPool has probably just run its natural course.

“It basically just seems redundant at this point,” he says.

Granath vs. Wright

A user asks Wuckert when he will fly to Norway for the Granath vs. Wright trial. He says he’d rather not reveal this information since some people involved in this case clearly don’t like him. However, he notes that court starts on September 12, and he will be there to cover it, so that should give an approximate answer.

Answering a later question about the case, Wuckert says that Hodlonaut has raised over $1 million in the last 30 days and that his side seems strangely confident that they will win the case. He finds that bizarre, given how excited Dr. Wright has been to meet him in court for over three years.

On the BSV community

A viewer asks when BSV will be recognized as a proper community. Wuckert answers that he believes it is already a vibrant one. He points to his friends, those he has crossed paths with and met at conferences, and those he does business with as examples.

The Kyle Roche situation

A viewer wants to hear Wuckert’s thoughts on the Kyle Roche situation. Wuckert says he’s a very capable attorney, is certainly not dumb, and thinks the whole situation is a “no honor among thieves” thing.

“Long story short, I don’t know how it plays out,” Wuckert elaborates, saying that someone like Roche is probably pretty good at covering his ass.

Following up with another viewer’s question about the leaks’ timing and whether Dr. Wright has responded to them. Wuckert says he has only seen a brief comment from Dr. Wright about Emin Gün Sirer. He’s not aware of anything that makes the timing interesting, but it does tie in with the class-action lawsuit BSV Claims, and an appeal in the Kleiman vs. Wright case filed late last week.

Writing contracts on chain

A viewer who says he’s a carpenter wants advice on how to have his contractor contracts written on the blockchain. Wuckert advises him to talk to Tokenized, noting they have something akin to templates since they’re focused on legally binding business.

On BSV’s underwhelming token price

Another viewer wants to know how it’s possible that BSV’s token price so massively underperforms compared to the rest of the digital currency markets. Wuckert puts it down to foolishness, noting that people are looking to scam each other, wash funds, and flip JPEGs. Generally, this is a low caliber of people engaged in nefarious activity.

BSV is unsuitable for this activity as it focuses on regulatory compliance and business matters.

“Price performance is a popularity contest,” Wuckert says, again saying that the industry today doesn’t like what BSV stands for.

BSV’s price can be fixed with demand, he says, reminding viewers that it’s up to us to create the use cases that will develop it.

On global logistics applications

A question pops up about building applications to track and trace items such as food globally. Wuckert answers that UNISOT is building this sort of application and that it addresses a massive problem (fraud and theft) in global supply chains.

He advises the viewer who asked the question to go out and sell these solutions if it’s something they are passionate about.

What other dirty tricks are in store in the Bitcoin war?

Wuckert admits that this question keeps him up at night. He says that Ian Grigg once wrote that “people died for Bitcoin” and that this is true. While he can’t say if any of them were murdered or if it was down to nefarious activity, he notes that there are a lot of crazy people involved.

“You get these people who are anti-state, anti-bank, and anti-individuality,” he says, noting that these people are so against the system that they’re forced to operate in the shadows, and when you do that, you usually have to go deeper into them.

Wuckert views this as a potential threat because, being outlaws, many of these people either can’t sue you or bring matters to court because it would shine a light on their activities.

He says that, with these people, anything is possible, from simple market manipulation to a lot of unhinged people in BTC becoming desperate and violent as BSV succeeds and BTC fails.

On Bitcoin as a political incitement

Bitcoin is fundamentally political because it’s money, Wuckert says. Likewise, opinions about it are inherently political, but how it is governed should never be. The protocol must be politically neutral and governed by proof-of-work.

Delving deeper, Wuckert says that turning money into a function of the free market in a pure sense removes power from money. This will have political implications, such as a massive reduction in central banking, among other political consequences.

Wuckert predicts that people in power will fight like hell with Bitcoiners. He likens laser eyes BTC supporters to slaves who want to rattle their chains and make them look nicer but don’t want to actually break free from them.

When will BSV reach a new all-time high?

Wuckert says that, historically, markets hit bottom about six months before the so-called “halvening.” However, he points out that BSV is not tied to the rest of the market and has traded counter to it on many occasions. He also noted that since BSV is focused on acquiring customers rather than speculators, a big customer could change anything on a dime.

Later in the stream, another user asks whether it’s logical to think BSV can surpass BTC’s all-time high given that it was based on zero utility and BSV can provide plenty. Wuckert says he thinks it will, but it probably won’t be a crazy hockey stick. He believes it will gain value slowly over time based on fundamentals.

On hyperbitcoinization

A viewer asks for Wuckert’s opinion on hyperbitcoinization—the idea that it goes viral and gets adopted much faster than the often talked about 15-20 years timeline.

Wuckert says we’re still very much in the opening swing of the fight. He thinks it’s possible that some big players will start to understand Bitcoin’s real power, and if they can figure out a way to make a lot of money, it could explode.

“As soon as a significant group gets it and does something with it…bam! That’s huge!” he says.

IPv6 and BSV

A viewer asks how many transactions IPv6 would generate on BSV. Wuckert begins to answer by pointing out that IPv6 is a protocol for generating IP addresses, and he outlines how it can enable peer-to-peer communications between devices.

Given this, the number of transactions it could be is incalculable, Wuckert says. However, he reminds us that there’s a lot of implementation still to be worked on, and it might take a while, if it happens at all.

Delving into data storage and whether it should all be stored on the blockchain or not, Wuckert says that it depends on what the data is worth. He reminds us that how databases and the internet work in 20 years time will be very different from what we’ve seen so far.

Watch: The BSV Global Blockchain Convention presentation, BSV Blockchain: A World of Good