CoinGeek Chief Historian Kurt Wuckert Jr. recently joined Michael Sisco on The Michael Sisco Show, where the two took a deep dive into the digital space for the episode titled, “The History of Cryptocurrency, Its Future, and BSV.”
Sisco was a former campaign manager of Lauren Witzke, who said he will be announcing a run for office in West Virginia in the near future. Sisco does not typically cover blockchain and digital currency-related topics on his show, focusing on topics that revolve around political theory, cultural critiques, philosophy, and religion.
That being said, the conversation that Kurt and Sisco have is perfect for individuals who might not be very familiar with blockchain and digital currency, or individuals who are more familiar with altcoin networks than they are with the Bitcoin and its history.
Kurt answers several questions from both Sisco and the audience about what Bitcoin and cryptocurrency is, the origin story behind Bitcoin, why the multiple forks of Bitcoin took place, and using Bitcoin the way Satoshi intended.
“Satoshi Nakamoto didn’t like the crime culture of Bitcoin; however, it was the predominant cultural narrative. ‘Hey, we need a lot of distributed nodes, we need to make sure bitcoin can’t be censored, and to make sure we can’t censor it, we need to make it slow and small enough for people to run their own nodes and create their notion of perfect security,’” said Kurt.
“But when you make these decisions, BTC can’t do more than five transactions per second–if everything is perfect globally it can do 7 transactions per second—so that’s 6 MB per hour, globally, that can be pushed across the network.
What’s 6 MB worth? Probably an incalculably low amount of pennies but for some reason, BTC transactions are extremely expensive to use this ledger with such weird limits.”
Kurt also discussed the value in big blocks, what BSV is, why/how BSV was created, some of the big benefits and unique use-cases of Bitcoin, the value in utility vehicles vs. investment vehicles, and how BSV is suppressed.
If you missed Kurt’s appearance on The Michael Sisco show when it was streamed live on March 18, you can watch the full episode by visiting Michael Sisco’s YouTube channel.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.