nChain’s Craig Wright talks about BCH, Vitalik Buterin and more
Bitrates.com’s Nick Tsakanikas sat down with Craig Wright in Athens to discuss some developing topics in the cryptosphere. Wright is mostly known for sending waves of controversy through the crypto community for claiming the title of Bitcoin creator back in 2015. He has since made a name for himself as the chief scientist at nChain Limited and as one of the strongest evangelists for Bitcoin Cash.
The interview took place just a few days after nChain was awarded three new patents for Digital Rights Management Using Blockchain by the European Patent Office. It was obvious that the interviewer included some piercing questions about nChain and its strategic partnerships.
“Bitcoin was never about home users running nodes, it’s about peer-to-peer cash. Not peer-to-peer people at home running settlement systems. My grandmother doesn’t care about settling her own money. She cares mostly about spending her money. And having a ledger that other people fight and compete for, to keep secure, matters. Now, this is why Bitcoin is the way it is. It means that rather than this loose mesh idea that people seem to think would work, like the internet, Bitcoin is more modeled after things like the IRC (Internet Relay Chat) networks. It’s a biomimicry. It’s the idea of a small world network, something like Newman and Strogatz and whatever else did. A very new concept, it’s only 20 years old or so, and in network theory, this means that, basically, we need a complete graph that is high, densely connected.”
He went out to debunk the “Fallacy of selfish mining” myth.
“It’s a load of crap. There is a reason why, instead of selfish mining, you’ve seen this Shitcoin Gold and all that, have been attacked by 51% attacks. If it was cheaper, the people would attack using ‘selfish mining.' They don’t; people have tried it, it fails. It is thinking that the network is a mesh, it’s not, it is a small network.”
Wright then went on to clarify why BCH price hasn’t seen an increase after the hard fork.
“That’s because it’s all gambling. What we are building in partnership with companies in a variety of areas, like SBI and others, is ‘use.' We want to see people integrated with banks. Integrated with payment card systems. This is why that’s the strategy we’ve been having, not only for our own developments in-house but with acquisitions.”
The most burning question everyone wanted to hear Craig address was Vitalik Buterin’s objection to the legitimacy of nChain's patents. He quickly took on the offensive and said:
“One, Vitalik wouldn’t know how to read a patent if it came up and bit him. He is a kid and that’s about as much as I can say. If he’d actually spent some more time and didn’t drop out of university and finished something, then he might actually understand how these things work.”
When asked if Buterin had a hidden agenda behind his criticisms, he doubled up on his offensive, saying:
“I just think Vitalik is a silly boy. I can understand why he is upset and threatened, he’s got his little Vitalik foundation there and if we succeed it all comes crashing down. The difference is that we can scale and Ethereum can’t.”
The whole interview is available here: