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Wright’s Legal Leaks Shift Attention to BSV Blockchain’s Superior Technology
Craig Wright’s antagonists are full of schadenfreude after his legal losses in the UK, but the verdict also means Wright’s personal life is no longer relevant to the future of The BSV Blockchain.
In the civil suit brought against Wright by Alliance for Open Cryptographic Patents (COPA), the court’s verdict was emphatic: Wright is not Satoshi Nakamotocreator of Bitcoin. The verdict was based largely on Wright’s apparent inability to stop making up stories and his subsequent efforts to falsify documentation to support those false claims.
This article does not intend to question the court’s verdict, the consequences of which Wright will have to live with for the rest of his life. But when the story of Bitcoin is seen decades from now, Wright’s role will be complicated. Critics will point to his claims about Satoshi as evidence that the man was nothing more than a fraud claiming an inheritance to which he was not entitled.
Others will see Wright as a champion of Satoshi’s original vision, a position that has proven instrumental in restoring Bitcoin to its original capabilities, leading to the further development of a technology that would otherwise have died in its infancy.
Bitcoin made its debut in 2009, but its development was hampered in 2017 by the BTC Core developers selfish tampering with the Bitcoin protocolIronically, or perhaps not, this group included some of the same COPA members who had sued Wright, suggesting that COPA’s game plan extended far beyond simply personally scaling down Wright.
It was Wright who led the charge to restore the protocol to its original design, which survives in the form of BSV, the only true enterprise blockchain technology. The only protocol that can trace its origin unbroken back to the original Genesis block. The only protocol on which a smart contract issued today will not conflict with any transaction recorded on the blockchain to date since the protocol is blocked forever.
Wright’s critics rejoiced at the decline in the fiat value of the BSV token following the court ruling, as if this were evidence that the BSV Blockchain technology had somehow been tainted by Wright’s actions. (These same critics ignored the recovery in the BSV price, further exposing their bias.) This is what one would expect from a group that has abandoned all efforts to find utility for its network and now sees the fiat price as the only true metric.
These critics don’t seem to realize that the 2017 transition from Bitcoin’s peer-to-peer electronic currency to BTC’s “digital gold” was a ticking time bomb that will cause BTC to self-destruct. Mining sector profitability at historic lows and the miners are increasingly “turn” towards artificial intelligence (AI) because they don’t see a way to prevent the BTC train from derailing its financial tracks.
The artificial constraints that BTC Core developers have placed on Bitcoin’s throughput mean that Satoshi’s long-term plan for transaction fees to replace block rewards will never come to fruition. As a result, miners will continue to abandon before the next “halving” event, leaving a ever decreasing number of miners BTC security officer.
BTC proponents are expected to talk less and less about so-called “decentralization” as the exodus of miners reaches its logical conclusion, down to just one or two nodes.
BSV remains the best and only way forward
BSV remains the only technology out there that Satoshi would recognize as his creation. BSV is committed to constantly expanding the number of transactions possible on a blockchain, and how developers could use this freedom to devise new solutions to old problems.
The hope is that BSV’s scalability and utility will benefit a much broader segment of humanity than the handful of BTC holders and their promotion of a speculative cryptocurrency trading paradigm based on fiat inflation.
BSV’s expansive capabilities put it in a much better position than BTC when it comes to mining. Jurisdictions are quickly waking up to BTC’s incredible electricity demand and resulting environmental impact, all just to keep a few wealthy “hodlers” in the black.
AS AI Electricity Demand GrowsGovernments will have to make a tough choice about whether AI deserves priority over BTC mining. Given the broader use case for AI, including its role in national defense, this choice will not be that difficult.
On the contrary, BSV demonstrates its “green” credentials processing exponentially more transactions (and more useful transactions) than BTC with the same amount of electricity.
Thanks to BSV’s scalability and transaction costs measured in fractions of a cent, BSV is the only network that allows developers to build viable applications. Web3 ApplicationsFurthermore, BSV’s locked-down protocol ensures that the work produced by these developers is not wasted by unnecessary changes.
BSV is also the only platform that can deliver on the promise of Metanetan economically integrated online system that enables instant and cost-effective micropayments. In tandem with AI and IPv6, BSV’s unlimited transaction capacity will enable easy access and monetization of web pages, services, every single piece of online data. This will allow individual creators to engage in a direct-to-consumer model while offering greater control over their personal information.
Utilizing the growing volume of data generated by Internet of Things (IoT) devices, both industrial and personal, will also benefit from BSV’s robust capabilities. Other blockchains may claim to have similar capabilities, but as demonstrated by Solanait is frequent “reboots”, Their technology simply isn’t ready for the mainstream and likely never will be.
If COPA’s real target had always been BSV, and Wright was simply the flawed vessel that provided an easy path to victory, COPA members may well regret this strategy. Because Wright’s legal defeat and subsequent retreat from prominence removed a major obstacle to people focusing on BSV’s technology rather than the personalities behind it.
Individuals may be imperfect, but BSV, reflecting its role as the original blockchain, remains the purest technology platform out there. But don’t take our word for it; visit BSVBlockchain.org and find out for yourself why Satoshi, whoever he was, would feel at home.
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