Business 1 year ago

Jasmine Solana

Craig Wright: Bitcoin is about free speech

Should hard forks exist?

That was one of the big questions raised during the War of Words Forum, a roundtable discussion at the Bitkan-hosted 2017 Shape the Future Blockchain Global Summit in Hong Kong.

Among the speakers at the forum was Dr. Craig Wright, chief scientist of nChain, who expressed a slightly different view on hard forks. At its core—no pun intended—Bitcoin is a voting system, and hard forks are basically the cryptocurrency’s consensus method, he said.

“When you consider what Bitcoin is about, it’s not users voting on the size of blocks. Users don’t care, they shouldn’t care. Exchanges don’t care, they shouldn’t care. You want your transaction safely included in a block. As an exchange you want your exchange to send your transaction and it to be included. There’s only one way for blocks to include transactions, that’s miners incorporate them,” Wright said.

August 1, 2017 was a momentous day for the Bitcoin community, because it was the day that Bitcoin Cash was created. Bitcoin Cash was the product of the hard fork, after a group of miners who have lost confidence in the SegWit2X proposal decided to take the matters into their own hands and split off from the main Bitcoin blockchain.

Despite being a new coin in the market, Bitcoin Cash has been forging ahead since the split and receiving support from members of the community, who believe that the cryptocurrency fulfills Satoshi Nakamoto’s vision of true, decentralized, peer-to-peer electronic cash with more efficient transaction capacity.

“Bitcoin is a voting system. It is a way of also transferring money and to do that, it has to be people risking the game. That’s people who invest, people who risk their own money, not like proof of stake, not where it’s once and then forever more you own those coins and forever more you can change the rules, everyday it’s competition,” Wright said. “Bitcoin is about free speech, not forcing people to listen to you because you have no right to make another person listen to you, and you equally have no right to take away their right to listen. That’s what Bitcoin is about.”

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

COMMENT

Chinese university textbook teaches Craig Wright is Satoshi | Bitcoin price media

[…] a cryptocurrency pioneer and an advocate for free speech in the crypto community, has been questioned about his credentials, which he has already shut down with a wheelbarrow of […]

Your comment is awaiting moderation.

Add a Comment

lastest news

Blockchain startup raises $24M for digital rights management

Business 9 hours ago

Blockchain startup raises $24M for digital rights management

Bluecoat, a blockchain company specializing in digital rights and royalties distribution, has already raised $24.25 million in funding, with notable personalities in the music industry assisting with the funding. In its press release, the company ...

Read More
Bitmain shuts down Israel office, leaving all 23 employees jobless

Business 10 hours ago

Bitmain shuts down Israel office, leaving all 23 employees jobless

After nearly three years of activity, Chinese crypto mining giant Bitmain is reportedly ceasing its Israeli operations this week. Citing sources familiar with the matter, Israeli news outlet Globes reported on Monday that Bitmain’s development ...

Read More
Warning: Scam site mimicking SVPool.com

Business 14 hours ago

Warning: Scam site mimicking SVPool.com

We're sending a warning to people in and out of the crypto industry. There is a website trying to cheat unsuspecting users looking to visit SVPool.com.  The individual or group is utilizing a common tactic ...

Read More