Bitcoin & Blockchain

Bitcoin should be spent as cash. That is the original intent of Satoshi Nakamoto for bitcoin, and also the continued design and effort by Bitcoin SV (BSV).

In fact bitcoin should be spent much more commonly, frequently and ubiquitously than paper cash.

However, for a practical reason, it should not be spent on the surface, but rather be spent behind the scene, almost invisible to regular users.

It has been expertly argued that Lightning Network (LN) does not work and has security vulnerabilities and legal compliance issues (see, for example, Matthew Zietzke: Fundamental errors of BTC and Lightning Network; and Why Lightning will never be currency, and why BSV matters, by Craig S. Wright).

LN’s shortcomings and vulnerabilities are also hard to fix since they arise from fundamental properties of the off-chain payment network.

Craig Wright won a default judgment against bitcoin.org in a London court over copyright of the original Bitcoin whitepaper. The outcome lends more credence to Wright’s claim to be Satoshi Nakamoto, the inventor of Bitcoin. Far more interesting, however, is the separate ongoing case to challenge Wright’s copyright claim of the Bitcoin whitepaper in the...

Solana is one of the very few blockchains that took scalability seriously and produced remarkable results, currently boasting 50,000 TPS at peak load. Solana is based on a new consensus called “Proof of History” (PoH) which, along with other accompanying designs, enabled parallelization (horizontal scaling). Its apparent success is a concrete proof that horizontally scalable...

Even before you get into deeper technical inquiries, it is rather evident in their distinct and conspicuous outward manners that Bitcoin Core (BTC) is a value absorbing system, while Bitcoin Satoshi Vision (BSV) a value creating system. Perhaps just a few minutes of experience in the atmosphere of the two recent conferences held by BTC...

There is a very fundamental reason why Proof-of-Work (PoW) is the only way to prevent corruption: In this world, work is the only thing that cannot be hacked (faked, pretended, stolen, hijacked, abused, or manipulated), everything else can, including authority, identity, status, history, relationship, agreement, whatever. The concept of “work” goes deep in physics or...

I believe Australian polymath Craig S. Wright is most likely Satoshi Nakamoto, the inventor of Bitcoin. First, a bit of the background and my qualifications. I have accumulated thousands of working and researching hours in the blockchain field, scholarly and professionally, and therefore not a dabbler on the subject. My cross disciplinary background that combines...

The idea of “digital gold” is probably the most creative idea that has ever come from Bitcoin Core (BTC), a distorted and neutered version of the original Bitcoin (see, BTC and Bitcoin, what is the real difference?).

First, the idea of “gold” has provided a very powerful and convenient attachment point for people who do not understand technology and economics. It is powerful because the analogy has a lot of truth in it.