Craig Wright Incoherently Rambles About Bitcoin Payments & Privacy

Journalist:
Ryan Smith @trendz
October 1, 2019

Craig Wright continues to befuddle in the cryptocurrency space.

The controversial computer scientist who maintains his identity as the one and only Satoshi Nakamoto recently spoke at the CoinGeek conference in Seoul on ‘The Power of Bitcoin SV Scaling’.

The conference, which hosted a multitude of speakers, saw Wright headline and speculate on new inventions that could be built on top of his dramatic Bitcoin Cash fork now dubbed Satoshi’s Vision.

Craig Wright, the promoter of government crypto. | Source: Twitter

Unsurprisingly, the talk was difficult to follow. It was marred from the start after the conference host introduced Wright on stage with the following:

“I’m going to introduce a man who I really want to be able to just let be himself. A man who I feel that we shouldn’t require to be a myth because requiring him to be that myth is to gloss over what he has achieved as just a man.”

Private Not Private. Sorry

Wright started off the final talk of the day by advocating how blockchain developers can make things more private and more scalable using SV.

He then appeared to use the platform to promote SV as a tool for government-backed currencies. You can even integrate KYC and AML into your solution, apparently.

I think someone needs to explain the concept of privacy to Dr. Wright.

Bitcoin SV – the cryptocurrency for government fiat. | Source: YouTube

Wright has long held the idea that bitcoin should be aligned with governments and this talk appears to pander to the authorities.

Trying to Make Sense of it All

For devs who want to build on top of SV, here’s a piece of advice from Wright’s speech:

“So we can start releasing them [inventions and patents] so that you guys can build on them. Because well I’ve got enough to do anyway… I don’t want the Google model of things. Too much of a headache. I much prefer doing my little hiding away and scientisty bit and coming up so that you guys can build a big company and eventually have all the headaches of managing people.”

Perhaps you need to be a guru to understand Wright’s ramblings. I don’t know. His presentation was fraught with mathematical functions and sentences that don’t seem to make any sense.

Like this Ethereum poke, for example:

“So to increase privacy, there’s something called Benfords Law. So this idea of having an address like Ethereum have been trying to teach you is wrong. You don’t want an address it’s coins. So to control your coins, make them so that people can’t tell where you’ve been spending other than the parties you’re engaged with.”

Interestingly enough, Wright repeatedly referred to bitcoin in his speech making no mention of the term SV. This is the same sly tactic that Roger Ver uses to promote Bitcoin Cash as the real bitcoin.

If we’re going to bring crypto to the masses we need to make it easier for them to understand, not harder. Venture capitalist Naval Ravikant pretty much sums up Wright’s approach in one simple sentence, “It is the mark of a charlatan to explain a simple concept in a complex way.”

This article was edited by Sam Bourgi.

Last modified (UTC): October 3, 2019 11:17

Tags: Craig Wright
Ryan Smith @trendz

Ryan is a web designer, writer, and trader who hails from sunny South Africa. He eats, breathes and lives crypto. With experience following the FX market and a keen interest in the history and evolution of money, Ryan is always trying to understand the bigger economic picture. When not meticulously looking over the charts, he can be found planning his next road trip or running around a 5-a-side soccer field. Twitter LinkedIn