In this episode of CoinGeek Weekly Livestream, host Kurt Wuckert Jr. shares his thoughts on the Facebook corporation, a.k.a. Meta, and its move to join the Crypto Open Patent Alliance (COPA). Wuckert notes the alliance signifies Meta’s desire to take full control of people’s data, saying, “They’re trying to build a world that requires open patents because they want to make money on your data.” He dubs Meta as the technocratic elite and describes Mark Zuckerberg as “the single, most frequent and powerful Peeping Tom in history.”
Meta’s plan is to build the Metaverse utilizing blockchain technology. However, as Wuckert points out, the problem lies within nChain’s patent portfolio. As he explains, Meta’s Mark Zuckerberg, Twitter’s Jack Dorsey, and MicroStrategy’s Michael Saylor, along with several others, refuse to pay royalty fees for every action that occurs in the Metaverse. Wuckert believes Meta and COPA want to take property away from nChain and are suing nChain’s chief scientist Dr. Craig Wright to implement their plan.
“They need to paint Craig as a fraud,” he says. “Craig must be a fraud for their business model to work.”
Kleiman v Wright Satoshi trial in Miami settled the alleged fraud allegations against Dr. Wright. The jury found he did not commit any sort of fraud whatsoever.
Thankfully, many would agree that nChain has a bullet-proof patent strategy. And it would be extremely difficult for competing companies to apply various transactions without violating nChain’s patents.
“[Craig] patented almost every aspect of smart contract language payment channels.. he owns all kinds of utility patents and a lot of the basic functions of blockchain,” Wuckert points out.
Another interesting point of discussion on the program is the news about the U.S. Federal Reserve’s digital dollar, which managed to handle 1.7 million transactions per second in one out of two tests. Wuckert believes that the test findings are suspect. As he explains, Corey Field, who took part in the initiative dubbed as ‘Project Hamilton,’ is one of the biggest BTC Core developers of all time. He believes Cory is one of the two BTC developers working at the Digital Currency Initiative at the Massachusetts Institute of Technology (MIT), receiving money from Jeffrey Epstein. MIT is working closely with the Boston fed with research studies on the U.S. digital dollar.
Another topic discussed in the program is the price of Bitcoin. Instead of focusing on the price forecast, Wuckert shared his outlook on price analysis. He suggests that people should pay attention to the Federal Reserve policy in the coming months. “We will know in March when the Fed announces if interest rates are going up,” he says.
Wuckert predicts a massive market dump will occur if interest rates increase dramatically. The Federal Reserve may also choose to keep the rates steady or reduce them in an attempt to save the economy from collapse. In that case, Wuckert states, people would’ve wished to have bought during the dip.
“And so all of this is very hard to predict, especially in the BSV space where speculation is very, very low. People are not just buying BSV to speculate. People are typically only using BSV if they have a data intensive or payments intensive business model, and that’s typically actually only happening in games and NFTs right now,” he explains.
Wuckert also hints about the ongoing talks between Bitcoin SV and Norway’s Central Bank regarding a Norwegian CBDC. In addition to this, he briefly spoke about BSV blockchain’s association collaboration with Saudi Arabia officials to launch a new BSV-related initiative, one that will involve educating Saudi talents in emerging technologies like blockchain.
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