Dr. Craig Wright on GBC22 stage presenting his keynote speech

Craig Wright: Bitcoin is not a socialist community

Imagine that everyone democratically vote on how Bitcoin is supposed to run and what purpose it should serve. We could sit back and relax while our only job would be to gather a majority behind what we would like to vote for in Bitcoin.

No more struggle to get any Bitcoins, as we could assign specific amounts of Bitcoin to certain people—simply by voting for it. While we are at it, we could also get rid of the miners and their “wasted energy” as we would be able to vote for who finds a block, what gets into the block, and how transactions are processed. Sounds great? No, horrible!

The Bitcoin Red Queen Game as an antidote for collectivism?

In order to understand Bitcoin, it helps to get back to its inventor. Bitcoin was created by a person, not by a collective or an unknown source of magic. The inventor of Bitcoin is Dr. Craig Wright, and he has been very clear on how Bitcoin is meant to be used: according to the rules he has set in the Bitcoin white paper, on the initial Bitcoin website, and in the Bitcoin software itself.

For anyone unfamiliar with the true history of Bitcoin, we recommend reading these three articles before you go on:

  1. The outcome of the Kleiman v Wright court case
  2. Craig Wright and a brief history of Bitcoin
  3. Bitcoin is bound under contract

So let us hear what the inventor of Bitcoin has to say about how Bitcoin should run. It should be running as Alice in an incident in Lewis Caroll’s Through the Looking-Glass—nonstop! This well-known Alice reference is also called Red Queen’s race or the Red Queen hypothesis in evolutionary biology.

We can trace back the mentioning of the Red Queen Game concerning Bitcoin in Craig Wright’s writings to his publications from 2018. In a written Q&A published on his personal website, Craig Wright said:

The lesson that people need to start to come to understand is that Bitcoin is not a socialist community. It is a capitalist system of competition. It is designed to utterly destroy any semblance of group think and collectivism in time. (…).

It is a red queen game, and it is designed to allow the best to gain and for those who do not try to no longer be subsidised. At scale, Bitcoin allows the most productive to keep and reinvest what they have.

Bitcoin socialists are fighting the wrong person in so many ways

We have seen plenty of commercial attacks being launched against Dr. Craig Wright in the past. These were paid-for campaigns from entities that were threatened by what Bitcoin could do to their business model. Actually, we could argue nobody is attacking Craig Wright. The attacks are aimed at the original Bitcoin as a disruptive technology tool. In these delusional campaigns, social media was utilized to gather a crowd of digital asset gamblers to shift the perception of what Bitcoin is and is not. Interestingly, Dr. Craig Wright himself has published a paper concerning the threat of malicious actors in social media.

All these people were being used against the Bitcoin inventor when they should have been on his side from the beginning. Socialists claim to want equal rights for everyone—sounds good. But look at what Dr. Craig Wright already said back in 2018 in an article published on Medium:

Bitcoin is a Red Queen game. This allows new entrants and ensures that all parties focus on the development of solutions designed to scale and grow bitcoin.

Pay attention to “allows new entrants.” This means access to the Bitcoin system is free and unlimited, without permission, anyone may enter the Bitcoin game as a miner and user. Nobody is forced to be in Bitcoin. Everyone is able to. Usually, socialists are among the loudest to demand free access—here you go. The access is free, but you have to compete:

Developers in this model are rewarded to create better code — by miners. Developers are able to gain funding in this capitalist system by developing code that allows individual miners to compete more effectively — code that forces more and more competition in the Red Queen Game that is Bitcoin. Source: Dr. Craig Wright in Bitcoin is all about incentives

Bitcoin is about property rights, but it trickles down to everyone

Bitcoin was invented and therefore belongs to the inventor based on established law over property rights. The so-called socialists within the digital asset sphere should think for a second. Is it really that bad? What about the effects of Bitcoin being a competitive Red Queen Game?

Imagine a competitive system that could better the lives of everyone. A better life for each of us sounds a lot like what socialists claim to want. Bitcoin can do that, though. Not by distributing wealth and communitizing everything, but by hard work that brings order into chaos.

In another Medium article from 2018, Dr. Wright stated:

Proof-of-work is a Red Queen game. Bitcoin as a system starts with the mining of blocks that may not have economic value, and over time and as these are used in commerce, the value of the system as a whole increases.

Again, pay attention: the value of the system as a whole increases. This means the work done within Bitcoin trickles down to everyone using Bitcoin and even beyond. It is time we leave the “Bitcoin is a democracy” sound and prepare ourselves ready to work.

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