Interviews 5 December 2018

Ed Drake

Dr. Craig Wright engages in philosophical discussion about ‘hidden math’ of Bitcoin

Controversial Bitcoin visionary Dr. Craig Wright recently discussed the mathematical and biological models behind the Bitcoin protocol, in a talk on the philosophy behind Bitcoin released this week.

The chief scientist at nChain, Dr. Wright expressed his theories on the philosophical and technical underpinnings of Bitcoin in conversation with Michael Hudson, founder and CEO at crypto advisory service Bitstocks, in the first episode of the Bitstocks podcast.

Dr. Wright and Hudson also discussed the universal importance of the numbers 3, 6 and 9 in Bitcoin protocols, as well as touching on the role of quantum mechanics and Wolfram 110 of cellular automation in shaping the Bitcoin network.

The discussion explores the philosophy behind bitcoin in technical detail, as well as Dr. Wright’s views on the role of Bitcoin in the wider economy. He suggested that in order to become a global commercial currency, Bitcoin would have to become a universal unit of measurement.

According to Dr. Wright, “If we want one system that can become a global commercial backbone, we need something that can be as universal as a metre. If you take a meter, it’s the same metre here as in France as it is in America. That’s really what we want for money, and a backbone to the economy.”

On ICOs and tokens, Dr. Wright drew parallels with collateralized debt obligations, and the negative impact of the so-called shadow banking industry, which proved damaging to the wider economy.

“Everyone jumping on board this idea of creating tokens and tokenizing things for the sake of it is a more democratised version of the shadow banking industry,” he said. “All the problems that allowed us to have the boom a bust in the housing market and the false economy, we’re now seeing pumped into tokens to make a quick buck.”

One of the most vocal proponents of Bitcoin—now reborn as Bitcoin SV—Dr. Craig Wright summed up by calling for greater cooperation between divergent factions in the bitcoin space, to fully leverage the global free trade benefits of Bitcoin.

He said, “What people need to start considering is not any nationalistic idea of borders, but to remember we’re all one people in one world. That means we should be willing to open up and trade with everyone. Bitcoin allows us to have that level of trade…with free trade, we choose.”

The Bitstocks podcast is available on YouTube from Bitstocks TV and Spotify.

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.

COMMENT

latest news

Dominic Frisby: It’s not that hard an idea to get – it’s cash for the Internet

Interviews 3 hours ago

Dominic Frisby: It’s not that hard an idea to get – it’s cash for the Internet

British actor Dominic Frisby is fed up with anyone who won't give cryptos a chance because they don't understand the tech. He describes those people as “no-coiners” and “deliberate recalcitrance”. Listen to him in our latest Coingeek Conversations podcast.

Read More
Blockchain makes inroads into big business

Interviews 5 hours ago

Blockchain makes inroads into big business

A London blockchain startup founded four years ago and still with only 30 employees boasts an impressive list of big business clients - including KLM, Toyota, Shell and Barclays.

Read More
Hans Henrik Hoffmeyer: Regulators are keenly aware that this is a paradigm shift

Interviews 14 February 2019

Hans Henrik Hoffmeyer: Regulators are keenly aware that this is a paradigm shift

Listen to the latest CoinGeek Conversation podcast with Coinify COO Hans Henrik Hoffmeyer, who talks about crypto regulation and how it will pave way for greater adoption.

Read More