CoinGeek Weekly Livestream AMA: #LDNBlockchain24, sCrypt Hackathon & new miners join the mix

Kurt Wuckert Jr. hosted an Ask Me Anything (AMA) session for episode 18 on season four of the CoinGeek Weekly Livestream, covering all the latest happenings in BSV and answering viewers’ questions for an hour straight. Check it out via the video link below.

Where are Craig Wright and Calvin Ayre?

What’s happening with two of the most prominent figures in BSV? Wuckert says Ayre will likely be at the London Blockchain Conference after a much-needed vacation. He’s not so sure about Wright. He’s probably licking his wounds and rethinking his long-term strategy.

Wuckert says it’s good to see new GorillaPool members joining. The 1Sat Ordinals ecosystem is still growing, too, and there’s lots of cool stuff happening there.

What happened in the sCrypt hackathon sessions?

Many cool projects have been submitted. Wuckert is most excited about 1Sat Ordinals and Smart Ordinals, which track state. Although he has some reservations about that concept, he thinks it’s a cool concept nonetheless.

Any thoughts on the halving? Any new miners in the mix?

There’s a new miner called CUVVE, Wuckert says. GorillaPool has done some digging, and they mine zero sat tokens, so he doesn’t believe it’s TAAL. Nobody knows who it is for sure, but he believes it is a Chinese operation.

In general, halvings are a rude awakening, reminding us that Bitcoin must scale. Wuckert has often called them “Satoshi’s ticking timebomb,” and indeed they are. As for how miners are handling the halving, as long as they are efficient, they’re OK.

What’s happening with Teranode?

Siggi Óskarsson said Teranode had processed two trillion transactions, which is a huge number by any measure. They’re continually pushing to break records and test limits. As far as Wuckert is aware, they’re steady at around two million transactions.

Is it technically possible that all Bitcoin forks run together as one on Teranode? Yes, it’s technically possible, Wuckert says. BCH and BTC connect via the internet, and if changes to the two networks were tokenized on BSV, it could act as the carrier network.

What good is 10 million transactions per second when you can only get to 10,000 across the internet between nodes?

If you have a network that can do them, you start to see possibilities you wouldn’t otherwise see, Wuckert answers. Just as you can’t foresee airline catering before you have airlines, so to the existence of a network that can surpass everything can spark ideas.

Companies will eventually start sending packets over the BSV Blockchain because it’s cheaper, more secure, etc. BSV will also host businesses that can’t exist on any other blockchain. In fact, it already does; CERTIHASH Sentinel Node is one example of just such a company.

Since the Bitcoin price fluctuates so wildly, how can it serve as money or currency?

Gresham’s Law says that all things move towards the money with the most provenance. Eventually, gold will absorb everything. In many places, it’s already better than local currencies, and with such a huge market cap, it can serve as money.

Bitcoin may eventually reach such a market cap and become less volatile. It could then be used as money in 100 years or more. Until then, we should focus on scaling and building use cases to generate network transactions.

What are Wuckert’s thoughts on Roger Ver’s book Hijacking Bitcoin?

Wuckert repeatedly says Ver’s book is excellent, although he has a few minor criticisms and disagrees with some points. All told it’s an accurate depiction of what happened, and it calls out the right people.

In a nutshell, Satoshi vanished, his friends were purged, and a massive social engineering campaign began to brainwash people into believing the small block narrative.

Wuckert has been keeping notes and may someday write his own history of Bitcoin. It will be different than Ver’s in some ways but similar in many others.

To hear more about RelayX tokens, the Mellor written judgment in COPA vs. Wright, and much more, listen to the livestream via the link at the top of the page.

Watch: Getting ready for London Blockchain Conference 2024? Here’s your guide to ExCeL London