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Bitcoin and Beyond ft. Dr. Craig S Wright aka Satoshi

In an interview with Bitcoin and Beyond, Dr. Craig S Wright claimed to be Satoshi Nakamoto. In the interview, they discuss an
In an interview with Bitcoin and Beyond, Dr. Craig S Wright claimed to be Satoshi Nakamoto. In the interview, they discuss and talk about bitcoin, and Craig explains various quotes by Satoshi.

In an interview with Bitcoin and Beyond, Dr. Craig S Wright claimed to be Satoshi Nakamoto. In the interview, they discuss and talk about bitcoin, and Craig explains various quotes by Satoshi.

Satoshi wrote- “the root problem with conventional currency is all the trust required to make it work. the central bank must be trusted not to debase the currency, but the history of fiat currency is full of breaches that trust.”

How does Bitcoin solve that problem?

It is a globally distributed platforms, so people don’t have the power to alter or change the process of issuing money. Craig further adds that you can tokenize fiat and areas, but the underline system is solid. He adds that the reason why gold and silver goes wrong with its selling and power is because of the uncertainty. People don’t understand the problem with monetary value is that if it’s not certain, then people can’t plan.

Craig mentions that Gold is not wealth; according to him, wealth is what an individual creates. Wealth is food, housing, the thing we produce in society. Wealth is the capital that a person provides.

How does bitcoin solves the problem and ethereum cannot even though both are not fiat currencies?

Bitcoin is a capitalist system; they want a socialist system. Everyone cannot be equal, and this can be an anarchist statement, but this is the harsh reality.

“The current system where every user is a network node is not the intended configuration for a large scale that would be like everyone runs their own NTP server. The design supports letting users be there. More burden is to run a node, the fewer nodes there will be, those few nodes will be big server farms, rest will be client nodes that only do transactions and don’t generate.”- Satoshi

Craig tells that bitcoin scales were large professional nodes. He suggested and argued not to spam the network. He mentioned that bitcoin is only suitable for the transactions of a tenth of a cent but by the year 2020.

He wanted the scale of bitcoin to professionalize, and the only way to do it was by using professional server farms. Nodes are miners when it comes to bitcoin, and it is written in the white paper that Satoshi wrote.

According to Craig, there are peer-to-peer networks in bitcoin. One is miners who ensure that the money and funds are distributed equally, and the functioning of the bitcoin is done. And the other is the direct dealing of the buyer and the seller.

Craig explains that whenever he wrote quotes for people as Satoshi, he never mentioned that bitcoin is launched to attack the centralized banks and governments. He says that people are making comments because they want an anonymous system for illicit drug trade and money laundering.

Craig( or Satoshi) mentions how he always designed a platform that worked within the law and keeping the government in mind. He explains how the code he wrote for bitcoin was the underlying code of everything. He further adds that there will never be a version of bitcoin that works equally.

A quote was written in 2009 by Satoshi- “in 20 years, there will be either a lot of transactions or none at all.”

How does he feel about the transactions that take place right now?

10 years in Craig feels positive about the current situation and thinks that chances of increased transactions are there. In a year, they plan to improve their services.

If bitcoin is going to be a global system, then people should make it a global system by creating it like the internet- one thing for everything instead of everyone having something of their own.

Bitcoin quasar upgrade activated in July moving towards a better working of bitcoin. What to expect from bitcoin in the next 6 months?

If you want permissionless development, work within the law. For bitcoin, BTC, you have to go to developers and ask if they’ll cause any problems or change the protocol or block it as you try to make this platform.

Craig mentions how he thinks that women are better at controlling finances and management as compared to men. They care about everything that is a part of their life, and they make things better. But bitcoin changes everything as you can send the money whenever someone needs it, you can use your smartphones to send money to whoever needs it.

This was just a summary of what you can expect in the whole interview. Watch the entire interview here,

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