Recently, Bitping founder and CEO Dean Little spoke to Britney from Crypto Bitz about Bitcoin SV (BSV), Bitping, and much more.
Who is Dean Little?
Dean started developing on the BSV blockchain after experimenting on several other chains that hit scaling ceilings. He mentioned the failures of EOS, Tron, and Ethereum before getting into why he decided to build on BSV when he realized the plan was to leave block sizes up to the free market.
Aside from winning the inaugural Bitcoin SV Hackathon in 2019 with Bitping, which was at the time called UptimeSV, Dean also worked with Twetch, Matterpool, and several other BSV apps.
Does Dean believe Dr. Craig Wright is Satoshi Nakamoto?
Britney dropped the big question right away in this interview, asking Dean if he believes Dr. Wright’s claim to be Satoshi Nakamoto.
Dean’s answer is nuanced. He believes Dr. Wright was involved and played a part in the development of Bitcoin, but he doesn’t think he was the one and only creator. Dean believes Dr. Wright’s original claim of “I was the main part of it, others helped me,” is more tenable than his current claim to be the sole creator.
What does Dean think the outcome of the Kleiman v Wright trial will be? He thinks it’s a “nothing case” that will not necessarily determine whether Dr. Wright is Satoshi. He thinks that if Dr. Wright wins, this could be bearish for BSV, whereas if he loses, the amount of the settlement will almost certainly mean Dr. Wright has to move coins on BTC, which is more bullish for BSV as it will give a lot of validity and credibility to his claims.
Does the Bitcoin protocol have fundamental economic value?
Dean started his answer by acknowledging that if all blockchains went away tomorrow, almost nobody would notice or talk about them again. He admitted that Bitcoin solved the double-spend problem but doesn’t currently solve too many real-world problems.
Elaborating on his theory of value, Dean emphasized that proof-of-work is the ultimate way to generate value on demand. Using proof-of-work to solve problems can create lots of economic value. For example, having public databases that are auditable by anyone could solve major issues in the real world.
What are Dean’s thoughts on tokens, NFTS, etc., on BSV?
So long as these tokens are legit and aren’t rug pulling and scamming, Dean believes these are a great thing for BSV.
He elaborated on the question of whether these things are legal. He said that it depends on the jurisdiction and that things can be legal in one area and not in others. He also said he believes the law will ultimately fail to stop these things should it try, just as it did in many cases, such as gambling on the internet.
What about transaction freezes on BSV?
Dean is clearly not happy with transaction freezes and claims that other developers aren’t either. He calls it a “real shame” and elaborates on why he doesn’t like the consensus blacklist in the node software. He prefers a more libertarian approach where miners decide for themselves what transactions to process.
“If Bitcoin is cash, then it should behave like cash,” he added.
Dean believes that cash is neutral and apolitical and that it’s not the job of miners to decide what it can be used for. If it’s used for illegal purposes, then it’s up to law enforcement to deal with that.
Dean’s experience with BSV mining pools and Bitcoin incentives
Dean had some criticisms of TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF), accusing them of not playing fair by orphaning blocks. He also called out TAAL for allegedly mining at a loss to thwart competition. In part two of his interview with Crypto Bitz, Stefan Matthews has addressed this as false accusations.
Dean also had some criticisms of Bitcoin’s current incentives in general. He mentioned that miners are subsidized with fiat to chase digital currency gains, and software developers are paid no matter what happens and are therefore insulated from market forces.
Dealing with where the world is going in the future, Dean mentioned that with VR, AR, and immersive technology, computing power would be the most valuable thing. He believes that proof-of-work can provide value without a ledger or coins and that this will be a much better incentive system.
What about Solana?
Dean stated that CryptoFights would have experienced less downtime on Solana. In this segment of the interview, he went into deeper detail on Solana.
Briefly explaining Solana’s proof of history consensus mechanism, Dean noted that it’s arguably much more efficient than proof-of-work but that it’s not free of problems. All told, he does believe Solana has a lot of potentials, has achieved lots in the last year, and doesn’t have a theoretical throughput limit. It sounded like Dean thinks Solana is a worthy BSV competitor with an appetite for scale.
Upcoming BSV releases and the future
Wrapping up, Dean gave his thoughts on what he’s looking forward to in the near future. He said some great things are coming up for Bitping and that he’s looking forward to Twetch 3 as well as some of the innovations on TokenSwap.
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