This just in: BSV Blockchain—the technology, the name, the rightful claim to being the original Bitcoin protocol—isn’t going away, folks.
It’s time to debunk the many myths and misconceptions that surfaced in the wake of last month’s U.K. court ruling that Craig Wright is not Satoshi Nakamoto, author of the 2008 Bitcoin white paper and creator of the original Bitcoin protocol.
In the wake of Sam Bankman-Fried (SBF) being handed 25 years in prison, the ‘crypto’ community is furiously flogging the message that SBF didn’t represent the broader blockchain sector and thus his crimes don’t reflect negatively on them. Keep in mind that this is the same community that has been equally furiously pushing the narrative that Craig Wright is/was BSV and therefore his recent legal reckoning spells doom for BSV.
The problem with this argument is twofold. First, while Craig is/was undeniably a prominent figure in the BSV Blockchain ecosystem, the technology is/was never dependent on any one individual.
BSV is the only blockchain with a locked protocol that honors the unilateral contract Satoshi offered to honest network nodes back in 2008. This commitment is enforced by a Swiss non-profit, the board of which Craig was never a member. So it’s hard to see where Craig’s absence from the scene creates some unfillable vacuum that would irrevocably derail BSV’s progress.
There’s also the little-noticed fact that, in declaring that Craig was not Satoshi, the judge affirmed Satoshi as the creator of Bitcoin. As BSV is the only protocol that remains true to Satoshi’s original vision as described in the white paper—and the only protocol that can trace an unaltered path all the way back to the Genesis block—then the judge effectively ruled that Satoshi created BSV.
Think about it: there is now legal language on the books stating that Satoshi, not Craig, created BSV. The court ruling may have been personally devastating for Craig but it’s business as usual for BSV. (BSV stands for Bitcoin Satoshi Vision, not Bitcoin Craig Vision. So anyone expecting some kind of ‘rebrand’ is missing the forest for the trees here.)
Large parts of Satoshi’s story may remain unknown forever but his legacy lives on in the here and now in the form of BSV. It was the best technology going before the trial and nothing about the verdict has altered that fact.
Thanks to the new Teranode scaling solution, only BSV has the bandwidth to handle the volume of transactions that Web3 applications will demand. Only BSV is equipped to handle the rapacious data-processing needs of enterprises and governments. And only BSV offers an antidote to the ‘crypto’ crowd’s well-documented aversion to any rules or laws that might negatively impact token values.
Basically, everyone reading this has one of two choices. Either the judge is wrong and Craig is Satoshi and Satoshi created BSV, or the judge is right and Craig is not Satoshi and Satoshi created BSV. But in both cases Satoshi invented BSV and Bitcoin Satoshi Vision is the world’s only Enterprise Blockchain. The original protocol on the original chain from the original genesis block. Long live your personal Satoshi.
Those in glass houses…
The second problem with the anti-Craig crowd’s ‘SBF doesn’t represent us’ message is that SBF is hardly an outlier. I mean, the parade of ‘crypto’ crooks facing criminal or civil charges based on their pump-and-dump-and-worse exploits would take hours to pass your house. Most of those not already in custody are on the lam, hiding from the countless retail customers who collectively lost billions of dollars as a result of these crimes.
Craig has never been accused of these sorts of predatory antics. Craig made no pitches to invest in can’t-lose projects guaranteeing high rates of ‘yield’ from some ill-defined source. Craig didn’t steal customer cash to make wild bets on illiquid shitcoins. Craig never helped ‘pig butcherers’ launder money or facilitated terrorist financing. And yet it’s Craig who is supposedly sullying blockchain’s good name? You can’t make it up.
Craig’s critics have been reduced to claiming that individuals who converted other tokens to BSV based on Craig’s predictions for how the blockchain would develop may have missed out on larger gains had they chosen to keep those original tokens.
This view conveniently ignores the unprecedented and anti-competitive delisting of BSV from exchanges, as well as the equally unprecedented social media campaign to denigrate BSV and minimize its further adoption. If anyone put an artificial cap on BSV’s fiat value, it wasn’t Craig.
These pressure tactics have also been cited as contributing to the decision by some key witnesses to Craig’s early Bitcoin involvement not to testify on his behalf at trial. It’s ironic that so many of those applying this pressure claim to be free-thinkers who detest any type of ‘groupthink’ and yet were only too eager to scream ‘blasphemer’ at anyone who dared support Craig’s cause.
Craig’s reputation may ultimately be redeemed as the true capabilities of the technology he championed become apparent to high-level decision-makers. But this will take some time, as it will soon become clear that Craig was merely collateral damage in the wider, ongoing attack on BSV.
Craig’s opponents in the U.K. trial were the Crypto Open Patent Alliance (COPA), a motley mix of digital asset exchanges and Silicon Valley giants. They fear (with good reason) BSV’s ability to seriously disrupt the crypto casino token model, U.S.-based payment systems and the advertising-driven Web2 social media space.
Simply put, BSV had to go, and if Craig was considered by some people to be the public face of BSV, then he was the logical first target. But this was never solely about Craig, so the attacks won’t stop with him.
Together with other ‘digital gold’ enthusiasts, COPA will continue to press the narrative that blockchains are for speculative purposes only. It’s up to BSV to offer a legally compliant and technologically unbeatable alternative to this false promise.
In the end, it matters not if Craig isn’t Satoshi. It never did. The technology is the only story. The technology created by Satoshi. The technology that is BSV.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
