Derek Tonin

Dr. Craig Wright talks about protocol stability at Bitcoin Wednesday

Bitcoin Wednesday assembles some of the brightest minds in digital currency to talk to a live audience the first Wednesday of every month in the Netherlands. This month, nChain Chief Scientist Dr. Craig Wright joined as a speaker, and he had a lot to say about Bitcoin, and his ongoing effort to prove his pseudonymous identity as Satoshi Nakamoto.

He began his talk by discussing how much the development of Bitcoin has been set back by the Bitcoin Core (BTC) development team. Dr. Wright noted that, although he was not a public figure in 2013, he was working with a team to develop new things, but all of that was set back when BTC hijacked the protocol to take it in its own ways.

“What does money need?” He asked the crowd. “It needs to be stable, right? … We want to build. It’s that simple.”

That’s simply not possible with how the Core team has taken BTC. “Problem with Core is that you need to check with them on what the roadmap will be because it’s unstable,” Dr. Wright explained. Developers can’t build for the future because there is no way for them to know what the protocol will be a few months down the road. As a result, businesses can’t grow, because no business can work on plans that need to change every few months.

The plan for Bitcoin, now reborn as Bitcoin SV (BSV), is comparatively simple. “What if we actually have something stable, and we have something that allows people to build,” he explained. He also laid out a clear vision for how long this stability can last:

“What we’re going to do is very simple. We’re going to scale Bitcoin. And we’re going to have the protocol so that a transaction that was written in 2009, and signed, will run in the year 2100, that hasn’t been on the blockchain now, that can be sent then, and will still be accepted. Now you can say that’s backwards.”

He also talked extensively about how he’s tried to maintain his privacy, and never really wanted to come out as Satoshi Nakamoto. It was demanded of him though, so now he’s proving his identity his way. “I, who didn’t want to talk about my past, will do it the way I want to,” Dr. Wright declared. “In court, the way people have real rules of evidence. Things that have been built up.”

He very much understands that he might be his own worst enemy in convincing people of the truth, but he knows evidence is on his side. “I’m not a good marketer,” Dr. Wright said. “I’ve learned to be better with people. I’ve learned to be different. That’s the world.”

Ultimately, Wright is not focused on proving he’s Satoshi to achieve any measure of power. He explains early in the video that he’s content to be rich, he doesn’t want to be famous. Instead, he is focused on fixing Bitcoin, and setting its protocol in stone, the way his white paper originally intended it to be.

If you agree with that vision, and get excited when you think about the unlimited possibilities with Bitcoin SV, join the CoinGeek Toronto scaling conference. You can save money on your registration by using Bitcoin SV via Coingate, and help decide the winners of the first ever BSV hackathon contest.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark 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.