CoinGeek Weekly Livestream Q&A: How the Original Bitcoin Works
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In episode 13 of the latest CoinGeek Weekly Livestream season, host Kurt Wuckert Jr. responded. to the viewers’ questions about everything to do with BSV. This episode was packed with useful knowledge about how the original Bitcoin works and what it can do.
Can Wuckert interview Vel Freedman?
Wuckert begins by saying that he met Freedman during the Kleiman v Wright trial and got to know him a little. He found the conversations cordial and polite.
As a result, he would not be opposed to having Freedman on the show. He wouldn’t talk to him about the Kleiman case, but he’d be happy to host him in general, even if they strongly disagree on the facts.
What are some examples of Unwriter’s work in use today?
Wuckert takes the first viewer’s question and thanks them for the opportunity to discuss this. He says that much of Unwriter’s stuff is still in use today, although there isn’t as much infrastructure.
Wuckert notes that Unwriter both developed software and defined various protocols. For example, he explained the B://Protocol, hoping that others would simply adopt it. He defined logic for many other things as well. While some of his software is still in use, the protocols are more so.
Wuckert notes that while the memory of Unwriter remains strong and some of his protocols are still used, things are increasingly moving away from his software.
Describe the Lightning Network in one sentence. Use metaphors if necessary.
“Lock bitcoins in this wallet, issue them on this other network, and trade them over an abacus to drug dealers and settle them whenever you want or maybe never,” says Wuckert, providing a powerful description of the chaos that is the Lightning Network.
What happens to HandCash and Rock Wallet?
Wuckert is not aware of any recent news regarding either, but Handcash recently announced that they would be supporting the 1Sat Ordinals protocol. This protocol has been taken up exceptionally quickly. Wuckert has expressed hope before that it might “unite the clans,” so to speak. So far, it appears that may be the case.
Wuckert says he’s trying to set up an interview with Rockwallet to learn more about their plans, roadmap and more. He says he will keep everyone updated on that.
Will either ever integrate point of sale card support? Wuckert says he wishes they would, and Handcash used to a while back. They discontinued it to redesign how their wallet works. He says someone can probably boot it up and build one using the Handcash SDK documentation and tools.
What features do wallets lack today?
Wuckert says the word wallet needs to be clarified. Wallets are actually key management software for unlocking and allocating coins. People mistakenly think of it as coins in their wallet, he says. He adds that, for whatever reason, wallet developers have focused on doing either coins or tokens well or doing fiat well (Handcash), but no one has gotten it quite right yet.
Wuckert reiterates that the use of open protocols is essential, something he has said many times before. He adds that even if wallets want to focus on one thing, they need to enable the wallet to interact with others. He gives an example of what he wants to see, saying he wants his business and personal handcash wallets to be different colors to quickly and easily confirm which one he used.
Overall, he would like to see more people integrate and build on open standards. Much of this must start at wallet level, he says.
Why is Elon Doge advertising on Twitter?
Wuckert starts by saying he’s not the biggest Musk fan. He’s not anti-Musk, but he dislikes trolling on Twitter and pumping his sacks. He says this undermines Musk’s credibility, and while some of it is fun, the pump-and-dump stuff is not.
Will he integrate Doge tipping? “We’ll see,” Wuckert says, reiterating that Musk’s cocky nature makes him do things like this, so it’s impossible to tell what’s on his mind.
What do Ordinals mean for all other token protocols on BSV?
“We don’t really know,” Wuckert begins. He praises some of the other token protocols, saying that STAS and RUN are both still very good at certain things. He says BSV still lacks a fungible token protocol, at least as far as he’s aware.
Wuckert thinks Ordinals can be good for low-level NFTs (not just JPEGs). There are many use cases for these, but Ordinals probably won’t absorb everything.
Has Wuckert noticed more interest in Ordinals due to transaction throughput limits on BTC? He’s not sure if many have gotten over it yet, but he’s noticing a lot more complaints in the BTC camp about these limits. The volume also causes the fees to rise.
Add to this that small block fanatics will probably look to get rid of Ordinals people at some point, and sooner or later they will be looking for somewhere to go.
What needs to come out of the Ordinals hype to make people realize that BSV means business? Wuckert says he is not sure. Liquidity is an issue because many companies need or want to cash out dollars, but where BSV could immediately shine is in processing mass volume of transactions.
Why should individuals not engage in BSV mining? Why is it beneficial to buy BSV over time?
“If you need the money to put into anything related to Bitcoin over the next five years, I would argue that you are not in a position to invest in any of that,” Wuckert points out.
For this reason, he hopes that individuals do not invest money they may immediately need. He would like to see people use legal structures like LLCs and do business in the Bitcoin economy with a long-term perspective. He lists many ways to get involved, including mining.
Wuckert reminds viewers that he is not a financial advisor and that they should always do their own research before investing in anything.
Are there any coins on the market that require renewable energy to be used for mining?
Wuckert is not aware of anyone specifically demanding it, but he points out that there is a big incentive to move towards renewable energy, and miners are well aware of it. As a result, most Bitcoins are mined using renewable resources.
“More and more green equals more and more efficient, equals more and more profit,” says Wuckert.
Am I the only one seeing more BSV faces and fans?
“You’re not the only one,” Wuckert notes enthusiastically. The meetings and conferences increase interest in BSV, and spread quickly in places such as the Philippines.
When is the Florida Citadel Party?
Wuckert concludes by saying that they do it all the time. “Check out our meetings page,” he says. Viewers can also stay updated on Bitcoin Florida Twitter Page.
See: Blockchain Mining and Energy Innovation
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