At its core, Bitcoin was meant to be a system of money that is decentralized, while still adhering to the laws of the land. Now that it’s been reborn as Bitcoin SV (BSV), Dr. Craig Wright took the stage at CoinGeek Toronto 2019 to explain how it’s ongoing development will focus on this aspect.
When Bitcoin was hijacked by the Bitcoin Core team and became SegWitCoin (BTC), they focused on the supposed anonymity of it. But Bitcoin was never meant to do that. “Sorry, you’re not anonymous.” Wright declared. “Sorry, Bitcoin doesn’t help you hide. Bitcoin follows the law. Bitcoin is an immutable evidence trail.” (1:07)
Expanding on where BTC has gone, Wright described the intention of it’s developers and promoters. “Right now, BTC is still used because of the illegal operations, like Binance and Bitfinex and Tether, to fund illegal operations pumping money,” he explained. “Illegal money travel. Illegal use of people smuggling.” (2:17)
Wright then touched briefly on the various elements of the R Puzzle, which will allow Bitcoin to become a better ledger of truth. By being a public ledger of accountability, BSV will help the world by proving what is true, and debunking what is false. Wright explained the endgame:
“We need a society that has people who are accountable for their actions, who when something goes wrong, can answer. That isn’t set so that you can never change a contract. Contracts are flexible for a reason.” (12:31)
Wright then touched briefly on the Metanet, which was explained in technical detail by Jack Davies, but for which Bitcoin’s creator explained how it will create a better system of value for the internet:
“So the Metanet changes everything.