Defiance Media talks to Craig Wright and Calvin Ayre at the BSV Global Blockchain Convention

At the BSV Global Blockchain Convention in Dubai, Defiance Media got a chance to catch up with some of the ecosystem’s leading personalities. In this episode, called Ccultural conversationsthey caught up with Dr. Craig Wright and Calvin Ayre.

Dr. Craig Wright talks about the true purpose of Bitcoin and how it works

For those who don’t already know him, Dr. Wright introduces himself as being from nChain and Tulip Trading. He tells us that he created Bitcoin after studying for a Master of Law in 2008. While doing so, he wrote his thesis on Internet Intermediaries and Payment Systems.

Dr. Wright has said this many times before, and he reminds us once again that digital cash is nothing new. They have a long history of many failed attempts in the past, and the guidelines and regulations on them date back to 1996.

“It’s just a funding exchange,” he tells us, explaining that ‘crypto’ is already regulated.

In Dr. Wright’s mind, the concept of “decentralization” is the biggest fallacy today. He explains: “Peer-to-peer is not the node structure; that means Alice pays Bob directly.” He says that the notion of decentralization that is popularly promoted today is “idiocy” and that we need leaders otherwise everything turns into chaos. Looking further into this point, he explains that we need a balance between law and order with chaos and anarchy – too much of both is not good. If you go too far, like in China, you stifle innovation, but if you have no laws, people won’t feel safe enough to invest and create things.

Addressing people who say he is not Satoshi Nakamoto, he says they don’t want him to exist because they believe the code is law. However, he says he is the issuer and Bitcoin is a one-sided contract. He explains that by saying Satoshi is a myth, his opponents are trying to circumvent the concept of an issuer and allow Ethereum, Polkadot and other blockchains to do the same.

“They don’t want a person because that makes it a legal, managed asset under the law,” he says.

Speaking of the Bitcoin protocol, Dr. Wright once again explains that it is fixed – set in stone. He tells us that Bitcoin does not change and that BSV has not split. Why is it important that Bitcoin does not change? Because if it is able to change, developers can pick who wins and loses, and destroy your product by changing the code if they don’t like you. He reminds us that the Bitcoin protocol takes away that power.

Scale and cost also matter, and most blockchains have failed miserably on both fronts. Dr. Wright wants Bitcoin to reach ten billion transactions per second with possible peaks of one trillion transactions per second. As for the costs, he wants them to be a thousandth of a penny or lower, much lower than they are today.

Dr. Wright was one of the first to point out that Bitcoin is IPv6 compatible. He reminds us that when Bitcoin came out in 2009, it already was, but people took that opportunity away because they didn’t understand it. He explains how IPv4 involves going through transaction ports while IPv6 involves direct communication from IP to IP. IPv6 opens up the possibility of making new trades and exchanges. For example, you can stream money for a video and stop paying when you stop watching. This in turn motivates creators to focus on quality by keeping the consumer engaged.

Delving deeper into the inner workings of Bitcoin and how it is a data management platform, Dr. Wright explains how he wants to see each packet cost a millionth of a cent. This will change the way we communicate and think about what we put out there, as the internet becomes an economic market-based model. Similarly, many people in the Middle East, India and elsewhere cannot get online because bank accounts are too expensive, and Internet connections through ISPs are financially out of their reach.

Microtransactions per package will change this and open access to the poorest people in the world.

Digging deeper into how BSV’s ultra-low fees could revolutionize the world, Dr. Wright reminds us that transactions at a thousandth of a cent are cheaper than anything else today, but eventually they will be cheaper than Amazon, Oracle, Visa, Mastercard, and all other transaction processors.

Where is this going? It will lead to the creation of completely new systems that allow people to trade globally. We will be able to shop to and from anywhere, machines will be able to earn and more. Dr. Wright predicts that there will be a battle with Silicon Valley as the advertising model is disrupted, but that the Bitcoin revolution is ultimately unstoppable.

Calvin Ayre talks about BSV, the Ayre Foundation, and entrepreneurship

Calvin Ayre is the founder of CoinGeek and Ayre Ventures. He is currently focused on technology investments using BSV. He considers CoinGeek today to be a TV production and points out that while many companies hold conferences with the idea of ​​getting some content, CoinGeek goes the other way around, making content a top priority.

“BSV is a technology, pure and simple,” says Ayre, explaining that it is a utility platform. He says an ecosystem is developing around this technology, and CoinGeek is trying to educate people about the technology. He believes Bitcoin SV will touch every aspect of everyone’s life and that people will use it and not even know they are doing it.

Getting to the heart of Bitcoin as a data management system, Ayre explains that on BSV, people can own their own data. They can store large amounts of it on the blockchain and move it around with nanopayments. For the first time, this gives people control over their own data.

Right now, the prevailing narrative in ‘crypto’ is speculative token trading. Ayre says he has no problem with that, but he reminds us that’s not what the technology was invented for. What was it invented for? Peer-to-peer electronic cash transactions and data management. Like Dr. Wright, he wants to distinguish BSV from so-called ‘crypto’.

Ayre addresses one of the hottest talking points in the digital currency industry right now, reminding us that the only way to positively impact the environment is to be on BSV because it’s so efficient. He says that once the technology is better understood, it will be able to process data with less environmental impact than how it is done today.

How does Ayre view the regulations? He says they have to come, and ironically, the anti-regulation guys are causing it. What BSV does requires less regulation because it is focused on data management and does not really sell anything to the public. He is a fan of regulation and believes it will be necessary. But in the area of ​​use, no one is pulling the regulators into this area, so he thinks they will leave it for a long time.

Ayre wants others to understand that scaling solves all problems. Although there are some cross-chain initiatives, they are mostly pretend. BSV manages them because they can’t scale, so they take tokens from other platforms and packages and run them on the frictionless BSV blockchain. For now, he says that BSV can be the side chain for all other platforms. However, the other chains need not exist after a while.

Speaking more about the Calvin Ayre Foundation, he says that if you are fortunate enough to be successful in life, you have a duty to give back. Now living in Antigua, he focuses his work on trying to fix problems in the Antiguan economy. He likes it because it’s so small, he feels the needle moving and knows he’s helped in a real, measurable way. Of the various initiatives they are involved in, Ayre feels that helping students with scholarships is the most rewarding.

Does he have any advice for entrepreneurs? “Get the skills you need and then go into an industry you’re interested in,” he says, because you need that interest for the persistence required when you’re doing 14-hour days. He reminds us that starting a business can be painful and a passion to succeed is an essential ingredient for success.

Watch BSV Global Blockchain Convention Dubai 2022 day 1 here:

See BSV Global Blockchain Convention Dubai 2022 day 2 here:

See BSV Global Blockchain Convention Dubai 2022 Day 3 here:

New to Bitcoin? Check out CoinGeeks Bitcoin for beginners section, the ultimate resource guide for learning more about Bitcoin – originally envisioned by Satoshi Nakamoto – and blockchain.