In this episode, Kurt is joined by special guest Joshua Henslee, the creator of SHUA coin. Kurt and Henslee answer several audience questions and explore many of the current areas of interest in the Bitcoin ecosystem.
The two talk about how banks and corporations recently created the opportunity to control where BTC goes, how to gain a competitive edge and prosper in the Bitcoin ecosystem, How to bridge the gap between the bitcoin ecosystem and enterprises, and why Bitcoin businesses in need of a specific service—like TokenSwap, the Uniswap of BSV—need to be talking to miners directly and viewing miners as their business partners.
“If you need something to be changed, if you want something to be different about BSV because you have a business opportunity, then I want you to think of the miners, the transaction processors, the people running the honest nodes, as vendors, [that are] in a business relationship with you! If you need services, you need to reach out to miners,” Kurt said.
One of the key features of Bitcoin is that it is governed by proof-of-work rendered by honest nodes. That being said, the individuals that are providing the proof-of-work and running honest nodes can make the adjustments to their nodes to adapt to the services a business is looking to provide. There is no central entity on Bitcoin that acts as a gatekeeper to the network, or that facilitates the changes that take place. Instead, Bitcoin is a free market in which the miners will be incentivized to act one way or another if there is demand.
After Kurt fielded a few audience questions, Joshua Henslee joins the livestream and talks about how he found his way to Bitcoin SV, and the creation of SHUA Coin.
Henslee also makes an exclusive announcement about SHUA Coin, telling the audience that SHUA Coin now lives in the RelayX wallet via the Run Protocol.
“Given the high demand for the SHUA, we have decided to allow conversations for one SHUA to me for 700,000 that will be deposited into your RelayX wallet via your paymail,” said Henslee. “So you can reach out to me directly, this is live on the relayx site right now. relayx.com/wallet.”
Henslee goes on to explain why he decided to port SHUA coin to the RUN protocol, and the advantages that launching a token via the RUN protocol has over Money Button. He then talks about economics and second-order effects, how miners decide how big of a block they want to mine, how the Soon™ meme started, and why experimenting on BSV is important and why more people need to be creating and pushing boundaries on Bitcoin.
“We got to start going man, if we’re going to compete with these other chains, we have to innovate and do stuff,” said Henslee. “We can’t be afraid of imminent law soon things that are never going to happen.”
Now is the time to move fast and break things on the Bitcoin blockchain. The launch of tokens on Bitcoin spurred a wave of innovation as individuals and businesses are rushing to create business models that were not possible on Bitcoin in the past. Unfortunately, many people are still afraid of law and legal consequences—something the Bitcoin community has built up to be much more fearful than they actually are—and it is slowing down the rate at which innovation is happening on BSV.
“You have to start playing around. As we saw today with all the FUD around Tether, it basically resulted in nothing. That might not be over, but the reality is that was a slap on the wrist. The penalty for messing around with this stuff is not really anything to be concerned about, especially where we are right now. No one’s really looking at BSV…the broader crypto space, they’re not really paying attention to what’s going on [in BSV] right now.”
Now is the time to push the limits of what can be done on Bitcoin. Bitcoin is not even a blip on the radar to many individuals, and if you are creating businesses with honest intentions, you should not be hyper-worried about the legal implications of what you are doing. If you want to see Bitcoin take off, you need to get out there and find a way to add value to the Bitcoin ecosystem, or as Kurt says at the end of the stream, “you need to be your own Soon™.”
You can watch episode 3 of Kurt’s CoinGeek Weekly Livestream here:
You can watch episode 2 of Kurt’s CoinGeek Weekly Livestream here:
And you can watch episode 1 of Kurt’s CoinGeek Weekly Livestream here:
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.