Tech 15 April 2019

Derek Tonin

Dr. Craig Wright: Bitcoin is built for accountability

The conversation about the true original vision of Bitcoin often turns to who had the original vision, and who has scammed the public. Dr. Craig Wright, chief scientist of nChain, has proven to CoinGeek that he is, without a doubt, the main architect of Bitcoin and the man who conceived and used the pseudonymous name of Satoshi Nakamoto, has once again taken to Medium, this time covering the patents that now make up Bitcoin, and what the real scammers have done to deceive the world.

In his post titled “Patent Wars…,” Wright dives into Blockstream, the developers of Bitcoin Core (BTC). With the two patents they’ve filed, they’ve merely attempted to accomplish anonymous transactions, and to shift them to a sidechain that can be cleared periodically. He compares this to his own work on Bitcoin, now reborn as Bitcoin SV (BSV), where he “has already got 16 patents that have been granted, 700 patents that have been published, and a total at present of 1278 patent families in progress.”

What do those two patents accomplish for Blockstream? He sees their effort as merely that of a company trying to help criminals, while he works to create a Bitcoin that can sustain global commerce, and the call him a scammer for it. He says:

“So, as those dedicated to bringing a world of anarchy, drugs, and illicit material fight to defame me, I work faster, more thoroughly, and far more effectively individually than all of them combined, and that’s before I add my team which makes me more efficient and far more effective.”

Going back to the birth of Bitcoin, Wright had accounting in mind, and that’s an essential feature of what the Bitcoin blockchain provides. Rather than hide transactions, thus helping illicit activity, he wanted to make something honest. “[Bitcoin] helps create an honest marketplace,” he writes. “It reduces corporate fraud, tax fraud, and general account fraud. It was created to make an honest system.”

While he continues to work on Bitcoin, Blockstream is working on a dead-end project. Anonymous transactions can be banned easily, making BTC and its sidechains useless. He concludes:

“I’m not going away - which is unfortunate for them.

We are here to create a global financial system. One that is more effective and more efficient than anything people can imagine and that needs to work within the existing legal framework if it is to succeed. (…) Those who want global financial freedom will understand that Bitcoin needs to work within the law.”

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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