Will Bitcoin SV KILL all Blockchains ? Craig Wright Acquires PATENT for SPV Technology



in today's episode we're going to continue talking about Bitcoin Satoshi vision and how I personally think it's really going to be very revolutionary and I really think that everybody should be having these discussions because by the end of the day if we really need to have mass adoption if you really need to like change the way that the world works really need to strategize and think about how everything is done and of course I'm going to continue talking about Craig Wright and his crazy ideas because I really think this guy is up to something and everybody should at least try to understand everybody should be able to like do their own research and just try to think about the things that he's saying because I think he's got very good points and by the way I have never been paid by the Bitcoin Satoshi vision to talk about these things I'm just like doing my own research and I'm really finding this on arguments very very convincing and I really want us to have like a composition so I really want you guys to be like open-minded forget about all the other bias stuff just come into this conversation with an open mind and just try to look at things from a different perspective the biggest challenge that Bitcoin is obviously facing is obviously scalability you know issues a lot of different cryptocurrencies have been trying to solve this but unfortunately cryptocurrencies such as aetherium he obviously experienced what would have been – the cryptic eighties and what really happened to the whole area blockchain when there was like a lot of activities which were happening on that particular blockchain so we are constantly having a scalability issue if you guys have read the white paper right bitcoin is supposed to be a peer-to-peer hash sort of system a lot of people really say that bitcoin is a store of value bitcoin is just supposed to keep our worth and no answer but that wasn't the initial intention of Bitcoin according to Satoshi Nakamoto it is supposed to be some sort of virtual cash there we are going to be looking at credit rights tweets because apparently he's onto something and recently according to his Twitter he's saying that in January 2019 we are going to start showing people how Bitcoin or any block skills it requires SPV and ESPYs and SPB doesn't use any service so electrum is not s pv i gave ten years hints much more nobody really bothered to learn about this and it's going to be patented and licensed sv exclusively now this is very important because apparently he's working on a patent and it's going to it's only going to be used on the SV blockchain that's the Bitcoin Satoshi vision blockchain so what does this really mean for other cryptocurrencies you know projects obviously they're going to require the license from the Bitcoin SV and obviously Korea grant and his team and this is really going to be a very very huge advantage to Bitcoin sv because these guys are actually going to get the exclusive right to get this SBV feature now a lot of you are obviously confused because you don't really know exactly how the SPV feature is really going to affect other cryptocurrencies option so here is a definition of the SPV by the way SPV simply stands for simple payment verification so simple payment verification is a technique described in Satoshi nakamoto's paper so Craig Wright claims to be Satoshi Nakamoto and I know a lot of people really discuss the things which were written in the white paper it's more like everybody has forgotten exactly what was written so this guy's going back to the initial ideas which were brought up in the white paper so yeah SBV allows a light word client to verify that a transaction is is included in the Bitcoin blockchain without downloading the entire blockchain so this really brings about scalability solutions if you would put it that way because you are not entirely downloading the whole you know blockchain to verify a transaction so pretty much the SPP client only needs to download the block headers which are much smaller than the full blocks to verify that a transaction is in a block a SPV client requests a proof of inclusion in form of America branch SPV clients offer most accreted and web wallets because do not need to trust the servers without the information descend so according to this definition right it really corresponds with what Craig Wright is saying here according to his tweet and let's look at his follow up tree twit so this was actually posted just like merely I don't know like two hours ago so I hinted for a long time on how SPV is supposed to work without it there is no real solution in Bitcoin or any other blockchain it's been patented and I'm more than happy to do this now so basically he's getting all the exclusive right to use this particular feature this particular feature so any blockchain out there it doesn't really matter atheria or what else card I know everything is going to require this particular future this particular feature if they really want their blockchain to might be able to scale and be very usable by a lot of you know entities such as businesses and orsa because by the end of the day you did not really want to have a very slow blockchain that really you know clogs up pretty much for the transactions you really need something to be as fast as visa something to be as reliable as these other platforms that really allow people to like conduct business because by the end of the day just like I told you bitcoin is supposed to be used as a form of cash and you don't really want to have very long transactions by the end of the day so if you guys don't really know anything about sPB's and how they are very beneficial I really encourage you to like check out different articles and for example I have this one here let me just quickly get it up so this is a very good article by jonad yok Bo it was actually written in 2017 so I really want you guys to like read this article just basically try to understand it because he's claiming that everybody everybody who happens to be a Bitcoin fan needs to understand what sPB's are and how they bring about security so pretty much the great scaling the bet one side wants to follow the original Bitcoin idea of peer-to-peer cash and the plan to have bigger blocks so if you guys have been checking out Craig Craig Wright's vision right he's planning to have like a very scalable blockchain and they are planning to have like very huge blocks like for example they are planning to have even bigger than two gigabyte block so they are trying to have like the largest block so that you know it can be very easy to scale so this is according to him and the other side wants to keep blocks small while transforming Bitcoin into a settlement network remember that having small blocks is not really going to bring a boss scalability that's the one problem that Bitcoin has been having all this well and with that we can't really have mass adoption and everybody really wants to have mass adoption because by the end of the day this is when we are going to be successful okay so what else do we have here so simplified payment verifications existed from the beginning remember the white paper Craig Wright Satoshi Nakamoto I have no I have no exact proof but it's really seems that this guy Craig Wright is all about bringing the basic fundamentals of whatever was written in the Bitcoin white paper and clearly he's talking about the things which were written like way way way way back so that's very interesting if you would ask me so how does SPV work so SPB provides the two critical ingredients it issuers your transactions are in a block and it provides confirmations which is proof of work that additional blocks are being added to the chain so that's all you really need to know when it when it comes to transactions being valid or not so pretty much the transactions are going to be legit they are going to be valid so SPV is a scalability solution and without scalability without having the ability to have very very fast and efficient block chains right the whole blockchain ecosystem is very very useless and surprised Craig Wright has got all the licenses he's got a patent for this particular feature so you guys are the different blockchains that might be useless if you might put it that way and remember Bitcoin has got the ability to have smart contracts so a lot of different block shares for example aetherium card on ownio they are really going to be worthless because everything can be done on the Bitcoin in this particular case Satoshi vision blockchain so yeah that's just what I really wanted to talk to you guys and I think that I really wanted you guys like check out I really wanted you to look at this court if you really make people think they're thinking they'll love you but if you really make them think they'll hit you okay so Craig right he's a very cocky kind of person he really doesn't know how to properly communicate and a lot of people don't really like that but you just have to look past all that because I mean by the end of the day it clearly seems that he's got very good intentions for this ecosystem and by the end of the day you and I we obviously want Bitcoin we obviously want this entire cryptocurrencies space to succeed so that's what we really need by the end of the day and unfortunately Craig Wright is really a business person he really understands the technology and he really understands the business side of Bitcoin by the end by the end of the day so that's just how it is no matter how you guys try to like you know hide the truth the truth is going to be what it is and you know personally I haven't even bought any Bitcoin Satoshi Vision coins right now because I really think that we really need to give them a little bit of time because there's a lot of Fiasco in terms of the price and I really think that the current price right now is slightly overvalued and I would expect it to drop a little bit further until I buy but according to these features if he's going to get a patent which is going to be exclusively used on the you know Bitcoin sv blockchain then obviously it's going to be vulnerable by the end of the day so I don't know like in the next three years in the next five years who knows what the price of Bitcoin Satoshi vision is going to be and by the way if you guys check out my previous video I really went down I really talked about the real Bitcoin and which one is the real Bitcoin so I hope you guys did check that out and you guys are on the same you know we are pretty much in the same page when it comes to which Bitcoin is a right Bitcoin so what else did I want to talk to you guys about so I've been reading a lot of Craig red material so I don't know maybe I might be a little bit biased so he goes on to say that bitcoin is supposed to be a commodity ledger miners are paid in competitive consensus consensus to add entries to the ledger so here he's just talking about how miners who are pretty much in charge of the Bitcoin core he's just talking about how dishonest they are because they are mining empty blocks and all that stuff and the transactions are like way too expensive so he pretty much just goes to talk about how dishonest miners are ruining the Bitcoin core you know chain and that's not really supposed to happen especially if you really want you know the whole chain to last a very long time and for you to have like a very healthy ecosystem as well so I really encourage you guys like you know check all this out and Craig Wright is all about his more like a business minded type of person because everything that he's talking about is related to businesses and just like he said in this to it he's been talking about the SPV feature for a very long time and nobody really like bothered to like take action and just try to use this particular feature so he's obviously you know taking everything in his hands and this is why he's just sort of becoming dr. evil but I think it's really an evil it's really a necessary evil if I can put it that way you know like sometimes you just have to do certain things to make things go because sometimes people just don't really do this into you and unless you like put them in the corner and just try to make them see the other side of the you know the playing field if I can put it that way so according to this there's a lot of people who are in full support of these features so let me just try to to look at this his tweets because a lot of people really know exactly what's happening so like freeze up with somebody says I've been working on weekends to make a simple SPV system in Python for others to build apps on I'm sick of relying on Explorer API so I'm fixing it myself give me ten weeks I think I could have a good prototype so there's a lot of developers who are actually working on this features and their stuff they're trying to let others create apps and stuff so you can actually use Bitcoin to use to build different apps which is a very good thing as well so anyway I just wanted to like share this information with you guys try to go back to the fundamentals try to go back to the basics just try to look at the Satoshi nakamoto's white paper bitcoin was never meant to be used in dubious miners like for example drugs and all that stuff so bitcoin is all about honesty it's all about you know showing exactly what's happening what's being put inside the lens it's all about transparency and if you've got any other suggestions please let me know in the comment section below so it's been a boy munna I really want you guys to like subscribe to my youtube channel because we are going to be diving emp2 like button let everybody see this video and talk to you guys a little bit later bye we can cut your thighs

29 thoughts on “Will Bitcoin SV KILL all Blockchains ? Craig Wright Acquires PATENT for SPV Technology”

  1. Cannot patent the public information posted in 2009. Stop the BS. SPV can be implemented/included in any bitcoin version.

  2. Indexing information cannot be patented. Thus SPV is useless because it can be structured however you want im a million different ways. Its just a specialized blockchain explorer….. This already exists…………………………. The idea is sound and good but nobody really cares, there is no real demand for it. This doesnt help scalability, it just defers it back to the centralized miners. Its just a veil. This has absolutly nothing to do with scalability. Unless you are talking strictly about mass adoption. This would definitly help, but like I said. Its just about reading the block headers. This isnt new. And its not a confirmation. This is just a bag of hot air.

  3. a great video explaining BSV well! This world are full of scoffers, blinded with hatred which is sinful against God. Thanks!

  4. If Bitcoin Cash SV is so game-changing, why did it have to co-opt the Bitcoin brand? Moreover, why did fake Satoshi refuse to let miners decide which Bitcoin Cash fork to support, and instead declare he'd take BTC to $1K to take BCH down?

    These are not the actions of a credible long-term project which has anyone's best interests at heart. As for Craig Wright, no institutional investor in their right mind is going to support SV given claims Wright once stole BTC from his former deceased business partner, before submitting erroneous BTC wallet details to a Florida court which have since been proven to belong to MtGox founder Jed McCaleb.

    To hell with saying Craig Wright is trying to make Bitcoin true to original BTC whitepaper. You are talking about someone who just co-opted the BTC brand because he could and is now saying: "By the way, just like Satoshi wanted, I'm privatizing this and doing away with Bitcoin being opensource." – Either this video is a paid CSW plug or you are desperate to believe in BSV. – That didn't work out to well for BitConnect investors, though, did it?

  5. When someone says there's only one way to do something, especially in tech, they're lying, ignorant, hiding something, or can't think of anything else. There's rarely ever one way to do anything, like skinning a cat 😉 I don't care what intelligence level Craig has, he's a psychopath that needs to get a nice social punishment for his shit behavior. Seriously, it's embarrassing the amount he wants to suck his own dick. He's a lying (maybe not everything but does it matter anymore?)sack of crap, and I can't wait for him to fall into irrelevance. Intelligence doesn't mean you get a pass to be a shitty person- Stephen Hawking deserved a good bitch smack and honestly I would have loved to choke him till he passed out for his treatment of his ex and etc. Same for faux-toshi. Seriously….an intelligent grown man lied to the entire world about being someone he's not for Fame and whatever. He supposedly has a brain and couldn't stop himself from that narcissistic stupidity. And people still back him? People lose whole careers for dark humor and difference of opinion. But this twat gets more coverage? Fuck him.

  6. To be acceptable you have to work with ppl and be liked by ppl.. Not act like a psychopath.. None respects this guy.. And he is a fraud everyone knows it.. No matter what happens early adopters are never going to accept bsv or bch..

  7. Craig Wright is up right disrespectful… His attitude and behavior is childish. Will not, cannot trust a "man" cough "boy" with this uncontrollable behavior. Unrealistic. Cannot stand self centered people. His way or the highway👎 fuck that. Negative energy is bad bad bad….. ✌️ 🤙

  8. Ethereum and cardano use proof of stake and xrp and xlm use consensus, I’m surprised in your lack of knowledge in the crypto space.

  9. Maybe you should try to reduce the sound of your mouse moving (like at 6:50) but it's a detail
    The video is a good, maybe a bit slower

  10. You know you've seen a ton of csw vids when you can't stop saying " at the end of the day" lol. Beyond, you made it your own with "BY the end of the day".

  11. Very Good Video Beyond10X. I hope you can keep all of us up to date with what is going on with BSV. You really have some great Points!! It really could be possible that he is Satoshi himself or was part of the Satoshi team. The more you get to know about him and the guy is intelligent no doubt and knows probably more than anyone about BTC system. Anyhow, that is not so much the big deal now, what is important is that BTC gets to be what it was meant to be right from the start until the Banksers got hold of Bitcoin core.

  12. Keep up the good work mate. All these cry babies saying Craig Wright is a scammer bla bla but he has more knowledge than anyone on bitcoin. BitcoinSV has huge potential crazy not to be investing.

  13. He will not get the patent if he does not prove that he is Satoshi. TO get a patent you need to prove that you are the originator of the idea. As far as I am concerned, he is not satoshi. If he is nto satoshi, he is trying to make a patent on someone else's idea. I suggest you stop taking him seriousloy until he gives conclusive proof that he is Mr Nakamoto. If he can not prove it then he is just releasing hot air. Also, bitcoin SV has double spending. It is a crappy blockchain

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