Events 6 November 2018Bill Beatty
Hong Kong Bitcoin BCH Miners Choice Summit recap
On November 2nd, CoinGeek.com sponsored a Bitcoin BCH Miners Choice Summit at The Grand Harbour in Hong Kong. The event was a chance for Bitcoin BCH miners to network and learn why Bitcoin SV is the BCH implementation they should choose for the upcoming upgrade on November 15.
Tony Tong, the co-chairman of the Hong Kong Blockchain Association, was the host for the proceedings and opened up with a warm welcome to the miners before introducing the first speaker for the day, nChain Chief Scientist Dr. Craig S. Wright.
Dr. Wright spent his time painting a picture of the possibilities and future opportunities for miners if they can use their collective power wisely.
He spoke of the importance of not leaving the future to the developers who want to make major changes every six months and increasing its complexity, stressing, “We are not throwing out bitcoin because Bitcoin works, there is no need to make it harder as simplicity is critical.”
Dr. Wright asked the audience to look to the future, a future in which mining companies held the same respect the banks used to before the financial collapse.
Miners should focus on creating generational businesses that can be passed down to their children rather than focusing on the get-rich-quick empty promises of ICOs which are like the IPO mills of the late 1990s.
The entirety of Dr. Wright’s speech will be available on CoinGeek.com in a few days.
nChain’s Jimmy Nguyen was next to the stage to speak on the four pillars on which Bitcoin SV sits, saying, “Bitcoin SV is created with four pillars in mind. It is a BCH protocol implementation that is stable, scalable, secure, and enables safe instant transactions. Those pillars advance the Satoshi Vision for Bitcoin BCH to reach global adoption as the new money and the dominant global public blockchain.”
Nguyen talked about his belief that it’s time for Bitcoin to grow up and to lock in the protocols, just as the Internet protocol was locked in, thus allowing development of the internet into what we have today. The entirety of Jimmy Nguyen’s speech will be available on CoinGeek.com in a few days.
Steve Shadders, nChain’s lead developer, joined Nguyen on stage to spend time explaining the more thorough technical benefits for miners who use the Bitcoin SV implementation and the importance of removing the limits.
Shadders talked about Bitcoin SV allowing transactions beyond simple payments, transactions requiring blocks more massive than anything in use today.
Nguyen reminded the attendees that with each miner’s reward halving, miners would need to take on more transactions and earn more transaction fees to make up for the reduced reward.
The entirety of Steve Shadders’s speech will be available on CoinGeek.com in a few days.
After the break, Joe Chin of CoinGeek Mining gave a talk on the benefits of the SVPool and encouraged the mining community to give it a test run.
In his first official public appearance since winning the CoinGeek.com Tokenization contest, James Belding gave us a sneak peek at his award-winning on-chain BCH token solution which garnered a large ovation from the audience.
Speaking with James after, he told me, “It was exciting for me to finally be able to share what our team has been working hard on over the last few months.
I believe our token solution combined with a stable Bitcoin protocol, as Satoshi always envisioned, will help make BCH the global standard for distributed ledgers. I enjoyed meeting many of the thoughtful and passionate members of the Chinese blockchain community, and I look forward to my next time in Hong Kong.”
You will be able to meet James Belding and learn more about his Token solution at CoinGeek Week in London on November 27-30. To book your tickets, please visit here.
The final speaker of the day was Mr. Yuan Bo of CoinGeek Mining. Mr. Bo gave the room a sneak peek at the early test results for the upcoming Squire Miners. The tests indicate these will be the most cost-effective ASIC miners on the market when they are released, and the numbers created audible murmurs and a few loud cheers from the audience.
If you want to learn more about the Squire Miners, please be sure to attend CoinGeek Week’s Miners Day on November 27 in London.
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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