Season 3 of the CoinGeek Weekly Livestream has been full of interesting guests and learning-rich insights and information. In this week’s episode, Kurt Wuckert Jr. recapped some of the best bits from this season so far.
Clip 1: The SmartLedger team
In this clip, Bryan Daugherty, Greg Ward, and Shawn Ryan from SmartLedger discussed some proof-of-concept products they’d been working on.
Greg Ward started by showcasing Satosender, a Bitcoin faucet, on BSV. This perfectly demonstrated BSV’s micropayment capability. While faucets used to be available on Bitcoin back in the day, the decision to limit the block size and throttle the network throughput made the fees too high for them to be viable.
Ward explains how each Satosender user can get 5,000 satoshis, and there are many fun giveaways for regulars. All that’s needed is a HandCash wallet to log in and get started.
Clip 2: Deggen Kellenschwiler on JungleBus and Bitcoin development
During this interview, Kellenschwiler told Wuckert how impressed he was with JungleBus and that it had caused him to rethink some things related to applications he was working on.
The two then discussed developing applications that work and scale in the way Dr. Craig Wright envisions. Kellenschwiler told Wuckert that because he couldn’t afford to run a node himself, he had to figure out ways to develop without relying on one. This turned out to be an advantage and is part of the reason he advocates for models that don’t require a full node, such as using SPV.
Wuckert gave the analogy of jiu-jitsu; doing things the easiest way possible is best and most efficient. Likewise, there’s no need to run a full node at home, just as there’s no need to run a web server to build a website. Kellenschwiler agreed, saying there’s a danger of falling into perfectionism and not pushing through solutions that are almost there or good enough.
Clip 3: Jack Pitts on SLictionary and onboarding Bitcoiners
In this episode, Pitts explained how celebrity definitions would work on SLictionary. Celebs would define words (e.g., Michael Jordan could define basketball) and could auction them off for charity, creating valuable NFTs that earn residual micropayments in the process.
Pitts then explained how SLictionary could help onboard people who have never used Bitcoin. Getting the Word Bounty rewards high enough is enough to incentivize people to participate, and making it as easy as using your email address to take part while leaving the technical stuff, like setting up a wallet until later, streamlines the process. He tells Wuckert about a Marine Corp linguist who had been onboarded this way without ever having used digital currencies before.
Clip 4: Bernhard Müller on Centi and the CHF stablecoin
During this conversation, Müller told Wuckert that the Swiss Franc stablecoin, Centi Franc, is issued by Centi. It’s a bearer instrument that gives the holder a claim for Swiss Francs from Centi, and it can be freely transferred to third parties, etc. Every claim is covered by a Swiss bank guarantee, making it extremely safe. Müller emphasized that this is not a central bank digital currency (CBDC)—it’s a privately issued stablecoin.
The bank guarantee also ensures it isn’t a security in the eyes of the regulator there. He said the company had always operated on the assumption that a stablecoin would be needed but had only relatively recently gone for it after building out its merchant integrations, apps, etc. After interacting with regulators, lawyers, banks, and other stakeholders, it was finally approved.
Wuckert then asked Müller if he saw a future in which we transition away from using fiat currencies and use something like Bitcoin. He answered that he would like to see more people transition to using Bitcoin, but as a company, they have to serve what the market wants, and right now, the market wants stability.
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