Craig Wright on the importance of legacy in Bitcoin

If you ask the man who started the digital currency fervor, he’ll tell you that BTC is doing almost everything backwards. Dr. Craig Wright has been helping to set the record straight on what Bitcoin is truly supposed to do, and what it was designed to provide, and has published a new blog that delves into what should be taking place, as well as the importance of retaining the legacy that was Bitcoin.

Wright leads off by explaining, “One of the key aspects of Bitcoin is that it is set in stone; the protocol does not change. Many have been misled to believe that Bitcoin would be a system of nodes voting on a protocol, which could not be further from the truth. Nodes do not vote to change the protocol. This is not written in the white paper at all.” The transformation to nodes having a say was implemented by BTC developers and is a complete breakaway from what Bitcoin was designed to provide.

The Bitcoin whitepaper, the one that all subsequent blockchains should have followed, was specifically written in such a way to ensure that digital currency could operate within the boundaries of financial regulations, as well as the enforcement of the same. It was always meant to be a peer-to-peer currency, with the emphasis on currency and how it interacts currently with financial laws.

Wright adds, “The legacy system is one that is analogous to the original. Bitcoin Core differs from my original vision of Bitcoin in every way. Core does not implement Simplified Payment Verification (SPV), and has failed to comprehend what SPV is. More importantly, BTC is not peer-to-peer in any reasonable manner.”

If blockchain developers, mainly those involved in BTC, had read and properly understood the Bitcoin whitepaper, they would have created a digital currency solution that was completely mature and ready to be used from the start. It would have also been more readily acceptable to financial regulators, as it would have adhered to their policies and legal framework. Because the developers didn’t, many BTC users are going to find themselves, over time, facing financial difficulties brought on by those regulators.

There will be those that, either through a lack of understanding of lack of desire to accept the truth, will disagree with what Wright asserts. However, they will soon realize how off-base they are. Wright shows how by stating, “The simple fact is, the myriad protocol changes implemented by Core into BTC make it anything but the legacy. The implementation of BTC is widely misrepresented as the original. This will change. Those seeking to convert law and justice in order to create a system that promotes bucket shops and criminal activity are about to find how it ends. Bitcoin doesn’t avoid tax. Rather, systems such as taxation help stabilise Bitcoin. The IRS has made it clear that a fork from the original legacy protocol is income. Consequently, changes to the stable protocol that was set in stone form an airdrop that must be sold to pay for the income if you wish to keep the new airdrop coin.”

He concludes, “You may not want to believe what I say matters, and Core will try and tell you that what Satoshi said wouldn’t matter anymore. I’m not sorry to tell you, they’re wrong.”

Read Dr. Craig Wright’s latest blog post, “Taxing Times…,” here

Look for ‘Satoshi’ in 2019 Oxford English Dictionary

The word “Satoshi” has been officially recognized by the Oxford English Dictionary for the first time, joining a slew of new words to be added to the dictionary this year.

According to the most recent quarterly update of words published by the Oxford University Press, the word has been added to dictionaries, alongside the likes of “Manhattanhenge”, “whatevs” and “chillax.” The update clarifies Satoshi’s usage as a unit of cryptocurrency, as well as highlighting its origins, derived from the founder of Bitcoin himself Satoshi Nakamoto.

Satoshi is the smallest monetary unit in the Bitcoin cryptocurrency, and is named after Satoshi Nakamoto, the—probably pseudonymous—developer(s) of Bitcoin.

According to the new dictionary definition, a Satoshi is the “smallest monetary unit” in BItcoin.

The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin.

With the addition, Satoshi joins Bitcoin, which was first added to the dictionary in 2014—years before it entered into common usage, though still several years since the term was first…coined.

According to the OED, the term was first used back in 2008, immediately prior to the launch of BTC in 2008, appearing “in a message to an electronic mailing list in 2008 which describes a ‘new electronic cash system’ which is ‘fully peer to peer, with no trusted third party’ handling payments between buyer and seller.”

It noted, “Whether or not the name under which this message was sent, ‘Satoshi Nakamoto’, is a pseudonym, and whether this name is being used by a single person or by a group, Nakamoto’s claim to have coined the word ‘Bitcoin’ seems relatively secure.”

Further, the authoritative dictionary says Satoshi was reportedly born in 1975. However, Dr. Craig Wright, the founder of bitcoin, was in fact born in 1970, and it remains unclear to whom the dictionary refers on this detail. Nevertheless, the inclusion of Satoshi in the dictionary shows the increasingly mainstream nature of the cryptocurrency world.

Following a similar trajectory as use of the word ‘Bitcoin,’ it is expected that “Satoshi” will be more commonly used and understood in the coming years, as essential terminology for those using and discussing crypto for payments.

BTC and BSV chose different paths with payment protocol choices

A recent GitHub discussion amongst the Bitcoin Core team, in discussing the future 0.19.0 release of BTC, covered their plans to disable BIP70 by default. This marks a significant divergence in the paths of BTC and Bitcoin SV (BSV), and one which will cement the nature of each digital asset.

BIP70 is a Bitcoin payment protocol. It allows users to send signed payments to a recipient in a peer to peer fashion, as the original Bitcoin whitepaper intended. As recent coverage of this topic from Cointelegraph notes, BTC payment processors like Bitpay have favored BIP70 over other alternatives.

But now the Bitcoin Core team are pushing BIP21, which would move away from peer to peer transactions in favor of defined addresses. Many wallets and merchants have already made this move, but the news that the BTC development team are now making it the default standard is significant as it will hurt Bitpay’s business model.

As BIP70 is no longer the default payment protocol for BTC, more users will find their wallets unable to pay Bitpay invoices unless they specifically seek out a BIP70 compatible wallet option, or know how to alter their wallet settings appropriately. This may cause users to shy away from making BTC purchases where Bitpay invoices are found, and for businesses to ultimately drop Bitpay as their payment processor.

As BIP21 has been around for some time, there’s no question with regards to if it will work. BTC wallets and users are already using it. But as its now been embraced by the BTC developers, they are firmly signaling a shift away from the peer to peer nature laid out by the Bitcoin whitepaper, and toward something else entirely, as they’ve already done by working towards their off-chain Lightning Network.

Going in an entirely different direction is BSV. While also not sticking to BIP70, BSV is instead moving to embrace BIP270, which will be even more in the spirit of Satoshi’s whitepaper. BIP270 simplifies and extends BIP70, and ensures wallets do not have to run their own nodes, but instead use the Simplified Payment Verifciation (SPV) system outlined by Satoshi, allowing pay-to-ip transactions.

Not only would that move make BSV more adherent to the original whitepaper, but it will further reduce the burden on BSV wallets and businesses, as running and maintaining a node can be costly. Combined with better identity systems, like Paymail, users also have a better experience, as payments are made easier and faster.

BTC’s move to BIP21 isn’t really an issue unless your payment systems depend on it, like Bitpay. The BTC team decided long ago that their digital asset should be seen as an investment opportunity, and ultimately a store of value.

In choosing to restore Satoshi’s original vision with BIP270, BSV is instead choosing the path of being a digital currency that can have every day use, as the original Bitcoin whitepaper envisioned. BTC, in moving away from that with BIP21, are also moving away from Satoshi’s original vision of Bitcoin.

Tips for securing Bitcoin venture financing

On September 30, in cooperation with Seoul CoinGeek Conference, there will be a “Pitch Day.” Blockchain entrepreneurs will pitch venture capitalists for investments in their businesses. 

The blockchain space has no shortage of intelligent idea people who have the next great idea written down on a cocktail napkin. They know that with some investment capital, they can change the world. 

That may well be true, but to find the investment money their ideas need, blockchain innovators will need to package and prepare their concept. 

They’ll need to prepare to present their next blockchain application ideas in the most transparent possible light. This preparation will allow venture capitalists and equity funds to understand the idea, understand the importance of the concept, and see that there will be a return on their investment. 

I spoke to a few of the key people taking part in Pitch Day. Paul Rajchgod is the Managing director for Private Equity at the AyreGroup. Dave Mullen-Muhr and Jack Laskey are both Principals at Unbounded Capital and Zach Resnick, Unbounded Capital’s Managing Director. The trio shared their considerations when it comes to investing in new businesses. 

“A goal without a plan is just a wish.” – Antoine de Saint-Exupéry

The first thing expressed was that before approaching venture capital or equity funds, entrepreneurs must have a Business Plan. For clarity, it’s not just a Powerpoint presentation but a well thought out plan for your business. 

Paul Rajchgod talks about the importance of preparation and legwork done by the people looking for investment, “In addition to having different investment mandates, every venture capital and private equity fund has its approach to seeking and assessing opportunities, managing risk, weighing pros and cons, undertaking due diligence, and ultimately deciding whether or not to proceed with an investment.”

He continues, “Some investors prefer later-stage investments whose business plans have been somewhat ‘de-risked,’ and some are more comfortable with start-ups and their higher risk profile.

In general, it’s very beneficial for companies seeking funding to have already done a lot of their legwork. Start building your product, start testing your market interest, start seeking out partners to join your team. It’s ‘your opportunity,’ so you’ve got to do the hard work of starting the business.” 

“Show me the money!” – Rodney “Rod” Tidwell

Investors want to know that the money they invest in your business will come back to them someday, it’s essential that you’ve considered how your idea will make money. Companies seeking investment will need to have a Financial Model to show investors as they’ll want to know that you’ve seriously thought about how your idea will make money. 

In this regard, Rajchgod said, “Also, you need to be able to explain to potential investors in a succinct and cohesive manner. 

What is your business is trying to achieve?

What is the problem you’re addressing? How are you addressing it? 

This needs to be explained in a business plan and with a sensible forecast – after all, you probably aren’t building your business for free.

What is the revenue model, and when does it kick-in? 

It’s ok that your forecast for ‘x years from now’ won’t turn out to be accurate, no company’s forecast ever is, but it’s still important for investors to see how you’re thinking about revenue, where it’s generated, what homework you’ve done to validate your views that customers will pay xx (whether in Bitcoin or fiat) for your product or service.

“Who are you? Who, who, who, who? Who are you?” – Pete Townshend

Blockchain investors will want to know who they are getting into business with; it’s vital that you are open and honest about your personal history and how long you’ve been working on this business. 

Zach Resnick sums it up well: “Trust is of the utmost importance for every relationship in life. Having a foundation of shared trust from previous business ventures or friendship is one of the most desirable unfair advantages an early-stage team can have.”

“Brevity is the sister of talent.” – Anton Chekhov

To complement your business plan, financial model and personal history, they’ll need a One Pager. Like the cover letter to a resume or a book synopsis, the One Pager gives the highlights of your plan; it will entice investors to commit to reading the rest of the dense documents you’ve submitted as part of your pitch. 

Rajchgod has questions he’d want to see answered, “Does the company solve a problem or maybe two with bitcoin as core to the solution? 

Is the technology scalable? 

Is the business already being built? 

Are customers using it (even in beta)? 

Is there a management team with depth in place? 

Does management have a track record of creating or helping to build growth companies before this one?” 

Jack Laskey adds, “Businesses can be complicated subjects. It may take a short book to explain how your business works and its possible applications fully. So while a one-pager may leave out important details, it provides an excellent opportunity to develop a language for describing your business in a succinct but exciting way. A great one-pager will help you have a better initial conversation with potential investors and partners. It also makes your business much more sharable, both internally within VC firms and externally among investors. If your product is highly technical, having multiple one-pagers addressing different audiences may be useful.”

“Sorry to be a wet blanket. Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.” – Craig S. Wright 

Blockchain and Bitcoin start-ups are on the radar of many equity funds and VCs looking to invest in the technology, without risking investing in a coin. It’s important to explain “Why Bitcoin?” 

Zach Resnick explains the allure, “By and large, entrepreneurs and investors love the hype that comes from new fundamental technology like blockchain. As a result, despite massive value being created, there are exponentially more projects that don’t have a firm grasp on what blockchain is than do.

Of those that do, few that can succinctly explain why, for example, building on Bitcoin gives them a competitive advantage or opens up a new market not possible before.”

Dave Mullen-Muhr continues, “Investing in Bitcoin businesses allows for a variety of potential business models. Some look similar to what has proven successful with existing tech companies, while others are novel concepts, with the ability for unusually low overhead, or entirely new monetization paradigms such as micropayments. 

What’s so exciting is that the businesses exploring these uncharted waters can set new precedents on how the internet will generate revenue.”

If you have the next great bitcoin idea and you need investment to take it to the next level, consider reaching out to the gentleman at UnboundedCapital.com or sending your pitches to the Ayre Group by using our Ventures Capital form.

Pixel Wallet, компания, занимающаяся цифровыми изображениями и идентификацией для Bitcoin, получает инвестиции от Кельвина Эйра

Картина стоит тысячи слов, а теперь может стоить также и некоторого количества биткоинов.  Pixel Wallet – это новое предприятие, которое позволяет файлам изображений включать в себя полную транзакцию Bitcoin SV (BSV).  Его технология также может создавать системы идентификации изображений, управляемые данными в блокчейне BSV.  Эти потрясающие сценарии использования для BSV привлекли интерес предпринимателя в индустрии онлайн-игр и технологий Кельвина Эйра, который объявляет об инвестициях в Pixel Wallet.  Эйр – основатель  новостной и майнинговой  компании по добыче BSV CoinGeek.

Pixel Wallet предоставляет мобильный кошелёк для Bitcoin SV (в настоящее время для устройств Android), который позволяет пользователям размещать полные транзакции BSV внутри файла изображения.    В нём реализована форма стеганографии – практика сокрытия секретных данных внутри обычного файла или сообщения, например, в изображении.  Пользователи могут высылать транзакцию BSV, скрытую в цифровом изображении, сделанном камерой их мобильного устройства, или загружать изображение и вставлять в него некоторую сумму BSV.

Как только в файл изображения вставлен BSV, пользователи могут отправлять эти файлы изображений друзьям через Pixel Wallet в обычные социальные сети и платформы обмена сообщениями, такие как Facebook, Instagram, Telegram, WeChat, Whatsapp, Discord, Viber, и даже в электронную почту.  Получателю не обязательно иметь на своём устройстве Pixel Wallet для доступа к BSV. Используя вебсайт Pixel Wallet, получатели могут запрашивать изображение и биткоины на адрес кошелька BSV, доступ к которому они могут получить другими способами и через другие приложения.

Эйр так прокомментировал свою последнюю инвестицию: «Поскольку я являюсь человеком, осознающим важность изображений и личных данных, а также большим сторонником технологии Bitcoin, принятие решения об этой инвестиции было для меня очевидным.  Мне радостно видеть, как технология изображения может сочетаться с массивным масштабированием BSV ради новых эффективных видов использования, которые невозможны в любых других блокчейнах и технологиях распределённого реестра».

Расположенный в Сингапуре, Pixel Wallet будет расширять свои операционные и девелоперские филиалы в странах Юго-Восточной Азии.

Кроме того, планы компании выходят далеко за рамки её текущего продукта. На предстоящей конференции CoinGeek Seoul (1-2 октября в Сеуле, Южная Корея) Pixel Wallet анонсирует новую систему идентификации с использованием BSV.  Компания разработала процесс стеганографии с несколькими изображениями, позволяющий вставлять в изображения человека личную информацию и транзакцию Bitcoin.  К примеру, при включении в физические идентификационные и платёжные карты или цифровые мобильные кошельки эта система позволяет изображению человека безопасно подтверждать его личность и личные данные.  Эта технология имеет множество вариантов использования – например, использование фотографии человека на карточках и цифровых устройствах, чтобы продавцы могли безопасно проверять клиентов и авторизацию платежей; разрешение доступа к физическим пространствам; подтверждение личности в правительственных целях; улучшение процесса «знай своего клиента».

Комментарий основателя Pixel Wallet Джона Голдберга: «Мы с радостью покажем, как Pixel Wallet может использовать технологию Bitcoin, которая наконец-то запущена Bitcoin SV (BSV), для обеспечения будущего управления идентификацией.  Мы благодарны Кельвину Эйру за поддержку нашей компании и всей экосистемы BSV». 

СКОРО: КОНФЕРЕНЦИЯ COINGEEK В СЕУЛЕ – 1-2 октября 2019 года

Приезжайте в Сеул (Южная Корея), чтобы узнать о «Силе масштабирования BSV» и о том, как поддержка массивного масштабирования в блокчейн Bitcoin SV позволяет компаниям создавать более функциональные приложения.  Одним из спикеров будет представитель Pixel Wallet.  Войдите в число главных имён Bitcoin, посетив конференцию CoinGeek Seoul 1-2 октября.

ビットコインのデジタルイメージとIDの会社Pixel Walletが、Calvin Ayre氏からの投資を確保

百聞は一見にしかずと言いますが、一部のビットコインについても今それが言えます。 Pixel Walletは新しいベンチャーで、イメージファイルにビットコイン SV (BSV) 取引を埋め込むことを可能にします。また、そのテクノロジーはBSVブロックチェーン上のデータによって管理されるイメージIDシステムを作成することができます。BSVにおけるこれらのエキサイティングな使用例が、オンラインゲームとテクノロジーの起業家Calvin Ayre氏の関心を引きつけ、彼はPixel Wallet.への投資を発表しました。Ayre氏はBSVのニュースとマイニングの会社CoinGeekの創立者です。

Pixel WalletはビットコインSVにモバイルウォレット (現在はAndroidデバイス用) を提供していますが、これはユーザーがBSV取引全体を1つのイメージファイルに入れることを可能にするものです。 それは、ステガノグラフィーの形式 (写真のような通常のファイルやメッセージ内に機密データを隠す技術) を実装します。ユーザーは、モバイルデバイスのカメラで撮影したデジタル画像に隠してBSV取引を送ったり、あるいは写真をアップロードしてBSVをイメージに埋め込むことができます。

イメージファイルにBSVが埋め込まれると、ユーザーはそのBSVイメージファイルをPixel Walletを通して共通のソーシャルメディアやメッセージングプラットフォーム (Facebook、Instagram、Telegram、WeChat、Whatsapp、Discord、Viber) や電子メールにさえも送ることができます。受取人はBSVにアクセスするのに自分のデバイスでPixel Walletを持っている必要はありません。Pixel Walletのウェブサイトhttps://pixelwallet.ioを使用して受取人はイメージとビットコインをBSVウォレットアドレスに送信できます。受取人はこれに他のアプリや手段によってアクセスすることができます。

この最新の投資についてAyre氏はこうコメントしています。「私は、イメージとIDの重要性を知っているし、ビットコインを大いに支援しているので、この投資は私にとって何ら目新しいものではありません。イメージテクノロジーが、どのようにして強力な新しい用途のために、巨大なBSVのスケーリングと結びつくことができるのか、それを見るのを非常に楽しみにしています。これは他のブロックチェーンや分散型レッジャーではできないことです」

シンガポールに拠点を置くPixel Walletは、東南アジアの国々全体において営業や開発を拡大していく予定です。

さらに、Pixel Walletは、同社の現在の製品を超えるもっと大きな計画を持っています。来たるCoinGeek ソウル会議 (10月1~2日、韓国ソウル) で、Pixel WalletはBSVを使用した新しいIDシステムを発表します。同社は、複数イメージのステガノグラフィープロセスを開発しました。これは、誰かのイメージに個人情報およびビットコイン取引を埋み込むことを可能にするものです。 例えば、このシステムが物理的なIDおよび支払いカード、あるいはデジタルモバイルのウォレットに組み入れられた場合、人のイメージで安全にIDおよび個人のデータを確認することが可能になります。このテクノロジーは多くの使用方法があります。例えば、カードやデジタルデバイスにある人の写真を使用して業者が安全に顧客や支払い認証を検証できます。また、物理的場所へのアクセスを許可したり、政府の記録上のIDを確認する目的で使用したり、顧客確認 (KYC) のプロセスを改善する目的でも使用することができます。

Pixel Walletの創設者John Goldberg氏のコメント:「当社は、Pixel Wallletが、ビットコインSV (BSV) がついに完成させたビットコインテクノロジーを、どのように活用して、ID管理の未来のために力を与えることができるのかを皆さまにお見せできることを大変喜んでおります。当社は、Calvin Ayre氏による当社およびBSVエコシステム全体に対する支援について感謝します」

今後の予定:CoinGeekソウル会議 – 2019年10月1~2日

韓国のソウルで「BSVのスケーラビリティのパワー」を紹介します。また、ビットコインSVの大規模スケーリングが可能なブロックチェーンにより、企業が強力なアプリケーションの構築をすることが可能になることについても説明します。Pixel Walletの代表者も講演者として参加します。10月1~2日開催のCoinGeekソウル会議でビットコイン界の第一人者たちから話を聞いてください。

비트코인 디지털 이미지 및 ID 회사인 Pixel Wallet, 캘빈 아이어(Calvin Ayre)로부터 투자 확보

사진은 천 마디 말만큼의 가치가 있으며, 이제는 일부 비트코인에도 가치가 있을 수 있습니다.  Pixel Wallet은 이미지 파일을 전체 비트코인 SV(BSV) 거래에 끼워넣을 수 있도록 하는 신생 벤처기업입니다.  이 기업의 기술은 BSV 블록체인의 데이터로 관리되는 이미지 ID 시스템을 만들어낼 수도 있습니다.  BSV를 위한 이러한 흥미로운 사용 사례는 온라인 게임 및 기술 기업가 캘빈 아이어(Calvin Ayre)의 관심을 유치해 Pixel Wallet에 대한 투자를 발표하기에 이르렀습니다.  아이어(Ayre)는 BSV 뉴스 및 채굴 회사인 코인긱(CoinGeek)의 창업자입니다.

Pixel Wallet은 사용자가 이미지 파일 내에서 전체 BSV 거래를 할 수 있도록 하는 비트코인 SV 모바일 월렛(현재 Android 기기용)을 제공하며,   그림과 같은 보통 파일이나 메시지 내에 비밀 데이터를 숨기는 방식인 스테가노그래피의 한 형태를 실행합니다.  사용자는 모바일 기기 카메라에서 촬영한 디지털 이미지에 숨겨진 BSV 거래를 전송하거나, 또는 사진을 업로드하여 BSV의 일정량을 이미지에 끼워넣을 수 있습니다.

이미지 파일에 BSV가 삽입되면, 사용자는 해당 BSV 이미지 파일을 Pixel Wallet을 통해 Facebook, Instagram, Telegram, WeChat, Whatsapp, Discord, Viber 및 이메일과 같은 일반적인 소셜 미디어 및 메시지 전송 플랫폼으로 친구들에게 전송할 수 있습니다.  BSV에 액세스하기 위해 수신자의 기기에 Pixel Wallet이 있어야 하는 것은 아니며, Pixel Wallet의 웹사이트 https://pixelwallet.io를 통해 수신자는 다른 앱이나 수단을 통해 액세스할 수 있는 BSV 월렛 주소에 이미지와 비트코인을 청구할 수 있습니다.

최근의 투자에 대해 아이어(Ayre)는 다음과 같이 밝혔습니다. “이미지와 ID의 중요성에 대해 잘 아는 사람으로서, 또 비트코인 기술을 지지하는 사람으로서, 이번 투자는 어려운 결정이 아니었습니다.  다른 블록체인이나 분산원장에서는 수행할 수 없는 강력한 새로운 사용을 위해 이미지 기술이 BSV의 대규모 확장과 어떻게 결합될 수 있는지 확인하는 것은 매우 신나는 일입니다.”

싱가포르에 본사를 둔 Pixel Wallet은 동남아시아 국가 전체에 걸쳐 사업 및 개발 장소를 확대할 예정입니다.

이외에도, 회사는 현재 제품을 넘어서는 훨씬 더 큰 계획을 갖고 있습니다. 다가오는 코인긱 서울 컨퍼런스(10월 1~2일, 한국 서울)에서, Pixel Wallet은 BSV를 사용하는 새로운 ID 시스템을 발표할 예정입니다.  Pixel Wallet은 누군가의 이미지가 개인 정보 및 비트코인 거래에 삽입될 수 있도록 하는 여러 이미지 스테가노그라피 프로세스를 개발해 왔습니다.  예를 들어, 이 시스템이 물리적 신분 확인 및 결제 카드 또는 디지털 모바일 월렛과 통합되면, 한 사람의 이미지를 통해 ID 및 개인 정보를 안전하게 확인할 수 있습니다.  현재 이 기술은 카드와 디지털 기기에서 사람의 사진을 사용하여 상인이 고객 및 결제 인증을 안전하게 확인하는 일, 물리적 공간에 대한 액세스 허용, 정부 기록 목적을 위한 ID 확인, 그리고 고객알기제도(KYC) 프로세스 개선 등과 같은 여러 사용 사례가 있습니다.

Pixel Wallet 창립자 존 골드버그(John Goldberg)는 다음과 같이 말했습니다. “Pixel Walllet이 어떻게 비트코인 기술을 사용할 수 있는지 보여드리고 싶고, 이제 마침내 비트코인 SV(BSV)로 촉발된 ID 관리의 미래를 나아가게 하고 싶습니다.  우리 회사와 전체 BSV 생태계에 대한 적극적인 지원에 대해 캘빈 아이어(Calvin Ayre)에게 깊은 감사를 표합니다.” 

일정: 코인긱 서울 컨퍼런스 – 2019년 10월 1일 ~ 2일

“BSV 확장의 힘”에 관해 알아보려면 서울로 오십시오. 엄청난 규모로 확장 가능한 비트코인 SV의 블록체인으로 기업은 보다 강력한 응용 프로그램을 만들 수 있습니다.  Pixel Wallet측 대표도 연사 목록에 포함되어 있습니다.  10월 1일 ~ 2일까지 개최되는 코인긱 서울 컨퍼런스에서 비트코인 유명 인사들과 함께 하십시오.

Bitcoin digital image and identity company, Pixel Wallet, secures investment from Calvin Ayre

A picture is worth a thousand words, and now can also be worth some Bitcoin. Pixel Wallet is a new venture which enables images files to embed a full Bitcoin SV (BSV) transaction. Its technology can also create image identity systems managed by data on the BSV blockchain. These exciting use cases for BSV have attracted the interest of online gaming and technology entrepreneur Calvin Ayre, who announces an investment in Pixel Wallet. Ayre is founder of the BSV news and mining company, CoinGeek.

Pixel Wallet provides a Bitcoin SV mobile wallet (currently for Android devices) which allows users to place a full BSV transaction inside an image file. It implements a form of steganography – the practice of hiding secret data within an ordinary file or message such as a picture. Users can send a BSV transaction hidden in a digital image they have taken on their mobile device camera, or upload a picture and embed some amount of BSV into the image.

Once an image file is embedded with BSV, users can send those BSV image files to friends through Pixel Wallet to common social media and messaging platforms – such as Facebook, Instagram, Telegram, WeChat, Whatsapp, Discord, Viber, and even email. A recipient does not need to have Pixel Wallet on their device to access the BSV; using Pixel Wallet’s website, recipients can claim the image and Bitcoin to a BSV wallet address which they can access via other apps or means.

With this latest investment, Ayre commented: “As somebody who knows the importance of images and identity, and as a big backer of Bitcoin technology, this investment was a no brainer for me. I’m excited to see how image technology can be combined with massive scaling of BSV for powerful new uses that cannot be done on any other blockchain or distributed ledger.”

Based in Singapore, Pixel Wallet will be expanding its operation and development locations across Southeast Asian nations. 

In addition, the company has much bigger plans beyond its current product. At upcoming CoinGeek Seoul conference (October 1-2 in Seoul, South Korea), Pixel Wallet will announce a new identity system using BSV. It has developed a multiple image steganography process that allows someone’s image to be embedded with personal information and a Bitcoin transaction. For example, when incorporated into physical identification and payment cards or digital mobile wallets, this system allows a person’s image to safely confirm their identity and personal data. The technology has many use cases – such as using a person’s picture on cards and digital devices to enable merchants to securely verify customers and payment authorization; allow access to physical spaces; confirm identity for government records purposes; and improve know-your-customer (KYC) processes.

Pixel Wallet founder John Goldberg commented: “We are excited to show how Pixel Walllet can use of Bitcoin technology, now finally unleashed by Bitcoin SV (BSV), to power the future of identity management. We thank Calvin Ayre for his support of our company and the entire BSV ecosystem.”

Upcoming: CoinGeek Seoul Conference – October 1-2, 2019

Come to Seoul, South Korea to learn about “The Power of BSV Scaling” and Bitcoin SV’s massively-scaled blockchain enables businesses to build more powerful applications. A representative of Pixel Wallet will be one of the speakers. Join the top names in Bitcoin at the CoinGeek Seoul conference October 1-2.

Why I believe blockchain is the new Internet and not the new Information Superhighway

A year ago, I left the world of broadcasting, where I’d been a technology and business journalist for many years. I joined CoinGeek to learn about and report on the world of Bitcoin. What I’ve seen in the past year has often reminded of previous tech revolutions and made me ponder on what’s the same and what’s different. This is just one example.

why-i-believe-blockchain-is-the-new-internet-and-not-the-new-information-superhighway2

Bill Clinton’s Vice-President Al Gore (above) has been much maligned over the years for trying to take credit for inventing the Internet. OK, it was probably a mistake to have said in an interview in 2000, that as a senator he “took the initiative in creating the Internet.” But as far back as 1985 Gore had been behind a bill to fund the construction of a national network of supercomputers, with the idea of linking big libraries in the U.S. So he did have a real interest in the subject.

What Gore is more justifiably criticised for is his enthusiastic promotion of a pre-Internet technology known as the Information Superhighway – a phrase he invented. This was going to be a network that would pipe data of all kinds rapidly between places for both commercial and domestic use – taking its name from the highway system that had revolutionised road transport between US states. But as an AT&T executive admitted in 1994: “the Information Superhighway is a convenient metaphor, but it’s largely a mythical thing. In a strict sense, it doesn’t exist and will never exist.”

Has this got anything to do with Bitcoin or blockchain? Well, yes, in the sense that the hype around new technology then and now is remarkably similar. Does this list sound familiar? “Self-promoting technology “gurus”, credulous journalists, wily investment bankers, ambitious entrepreneurs, and gullible investors.” It comes from Dot.con: The Greatest Story Ever Sold, an acerbic account of the dot com bubble by Jon Cassidy, who lists them as the promoters of the Information Superhighway. But from about 1995, when it was clear that the Superhighway was leading nowhere, the same kind of characters – now seen in a much more positive light – turned their attention to promoting the Internet.

Bitcoin and blockchain technologies have not been short of hype – indeed, cryptocurrencies have been compared to tulip mania even more than dot coms were before the market crashed in 2001.

For how long should we be patient in waiting for the transformation of society by blockchain? Well, the Internet was actually around for decades before technology and economics came together to create its success. Should we be worried that for all the expensive efforts to create an ‘ecosystem’ – comparable to the huge amounts of money invested by the American entertainment networks to bring the Superhighway into people’s homes – there’s still no sign of blockchain or Bitcoin discovering the kind of ‘killer app’ that the Internet found in email – something that combines ease of use with genuine innovation to produce an entirely new product?

Personally, I believe that it’s rational to keep faith in what Bitcoin can deliver – though I accept that there are intelligent sceptics who take a different view, and not just for malicious reasons.

But it’s salutary to remember the huge amount of effort and money that Time-Warner put into its Information Superhighway project in Orlando, Florida. It was called the Full Service Network, and involved set-top boxes on TV sets through which services such as banking, food delivery and video-on-demand were available. A few thousand people made use of the system before it was closed down after about a year – at an estimated cost of $150 million. Interactive television was simply not wanted by the public.

It’s sometimes said that Bitcoin is “a solution in search of a problem”. In fact, some of the problems that Bitcoin could solve are real and quantifiable: the high cost of sending money between countries; the ability to get paid for creating content in small quantities that don’t make sense with ordinary currencies; and the creation of an online data storage system that’s independent of a rent-charging commercial organisation – to name but three.

But, as with the growth of the Internet and the non-growth of Information Superhighway, to succeed, a degree of public interest – media hype, if you prefer – needs to coincide with the easy availability of a product or service that feels like a no-brainer to new users – not just email, but later, over the years, Yahoo!, Amazon, Google, Facebook, YouTube, WhatsApp and Uber.

What will be Bitcoin’s ‘how did we manage without it?’ service? Whoever can answer that question will be onto a great thing for themselves and their business, but will also lead to success for countless other businesses that can take advantage of millions of new users entering the Bitcoin world. I personally believe it’s just a matter of time before that moment arrives. There are enough bright, creative people straining to answer the question that one day, something will come along that looks so obvious that the only mystery will be why it took so long.

Bitcoin, tax, and privacy

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It’s a funny thing when it comes to Bitcoin. Many early adopters saw Bitcoin as a tax-free haven. As a way to facilitate borderless payments outside the bounds of regulatory frameworks and tax laws. What many later came to learn is that Bitcoin tax in most countries is treated with the same vigor as property tax. Apparent in Bitcoin’s design is the traceability factor. We often say that Bitcoin is “pseudonymous.” That’s like saying it isn’t exactly anonymous, but nor is it outright giving your name away. Another way of saying it is that Bitcoin is private.

Privacy is a fundamental human right. It is even recognized as such in the UN Declaration of Human Rights and many other international treaties and declarations from various organisations. Then, it is found to be by any reasonable measure, a right that is on shared grounds to Freedom of Speech. Particularly now, more than ever, perhaps, in the midst of our global technological revolution, never has our privacy been under threat as it is today.

Bitcoin is built with privacy in mind. It is not an anonymous coin or ledger like many that have flourished over the past several years such as Monero or ZCash. Recently, several exchanges have felt the pinch of regulatory forces and have started delisting such anonymous tokens. Bitcoin itself remains safe.

Why?

I believe the crux of this reason is that Bitcoin remains magnitudes more transparent than your local bank. Think about that for a minute. The statement isn’t one made by some crypto-fanatic pushing an agenda; this is a fact of the Bitcoin blockchain. Every coin can ultimately be traced back to its mining birth. For this reason, the quintessential Bitcoin Whitepaper describes a coin as a “chain of signatures.”

Most governments around the world have come to sufficiently understand the transparent nature of the blockchain and have appropriately come to assess Bitcoin’s nature suitably. When it comes to tax laws, many governments around the world have come to treat it no different to property. Take, for example, the IRS position “For federal tax purposes; virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.” – That is, upon sale or trade of the asset, the transaction is subject to capital gains tax. Of course, there are also a few tax havens around the world, and on the other hand, there are some states (including Japan, Bolivia, Columbia) that have cryptocurrency tax laws that are incredibly severe. But worse are those that have banned Bitcoin (such as Egypt).

Severe measures against Bitcoin come from a lack of understanding the technology. If most governments understood the transparent nature of Bitcoin and how it could help them, they would jump at the opportunity to embrace the technology. Fear is often a motivator of a strong response. The moderate response is the one many countries have already adopted, likening Bitcoin to property.

Bitcoin doesn’t need to be feared, nor banned, nor should it be under a constant watchful eye. Surveillance is for things that are opaque and hidden. Bitcoin’s blockchain is transparent and can be audited on-demand on an as-need basis. And this is the beauty of Bitcoin’s design. It does not require a watchful eye nor an extreme response that requires its users to report the ongoing funds at every single address. Why? Because it is sufficient to declare the profit and loss on trades, and where there is a discrepancy, an audit can yield further information.

Excessive opposition will only drive users to move to dark web markets, and trade with anonymous coins where tracking becomes much more difficult. However, for Bitcoin, the overall response from the governments around the world has been somewhat encouraging ‘till now… As the most honest and transparent ledger the world has ever known, it is perhaps time that the world embraces this technology, rather than shy or fear it.

To embrace Bitcoin is to embrace its private nature, a fundamental human right. A ledger of truth can yield profound positive changes for the world, but it requires level-headedness. It requires a balance in law that protects users, but also provides visibility of those funding child abuses, terrorism or slavery.

Bitcoin, in the fulfilment of its purpose, will go some way not only to keep citizens honest but governments also. A transparent ledger keeps accountability of all parties – equally, irrespective of whether one is a politician, businessman, or thief.

Eli Afram
@justicemate

Free eBook from Bitstocks debunks Bitcoin myths

Several books as of late have taken different looks at Bitcoin, and told the stories of its creation and those who latched on to it. But perhaps no book has tried to tell an end to end history as succinctly as Bitstocks new eBook, “A Short History of Bitcoin Myths.

While the history of Bitcoin itself is important to understand what it is, due to the incorrect popular perception many have of the digital currency, debunking the myths are just important. Bitstocks book seeks to do that for every important step along the way of Bitcoin’s history.

The story begins with the origins of Bitcoin, and importantly, the elements that had nothing to do with its creation. It gets into the obscure manipulation that created the financial crisis of 2008, and quotes Dr. Craig Wright extensively on why he created Bitcoin to provide greater transparency in financial matters.

As the book dives into what happened after Bitcoin came to life, there are plenty of myths for it to handle. Chapter two discussed how the cypherpunks co-opted Bitcoin for their own anarchic purposes. Chapter three then covers how those anarchists and their criminal friends made Bitcoin the tool of the dark web, forever diverging its past into what eventually became BTC.

Despite that path, the idea of Bitcoin was still popular, and chapter four discusses how, despite the public wanting to embrace it, development of the blockchain was sabotaged to keep it niche. In chapter five, ethereum was created to handle problems Bitcoin should have been able to handle in the first place, and BTC itself became a speculative asset, as discussed in chapter six. Chapter seven debunks the need for the lightning network, which was created because BTC developers said the crypto couldn’t scale.

Throughout each of these chapters, the authors discuss every myth that’s been propped by Bitcoin Core and Ethereum developers as reasons why the original Bitcoin couldn’t handle the task Satoshi gave it. They also explain why, in following that original vision, Bitcoin SV (BSV) is proving those myths wrong.

Throughout the book, experts from across the blockchain and cryptocurrency world are cited, proving how much effort the Bitstocks team put into this work. They aren’t just telling a story, they kept track of the evidence and they’re now using it.

Although at 56 pages, it’s probably the shortest read you can find to explain the full extent of how Bitcoin went from a thought in Satoshi’s head to the BSV it is today.

Head on over to Bitstocks page and check out the eBook for yourself. It’s completely free, and available to read now.

Surprise, North Korea is reportedly building its own crypto

North Korea is in the early stages of developing its own cryptocurrency, a new report has revealed. The crypto, which has yet to be named, will mainly be used by the East Asian nation to avoid international sanctions and circumvent the traditional financial system which the U.S. has dominated for long.

Quoting a representative of the ruling regime, Vice News reported that North Korea hopes to model its crypto after Bitcoin. This is different from other countries that have ventured into the crypto arena which seek to digitize their national currency. North Korea won’t be digitizing its won, Alejandro Cao de Benos, the official in charge of North Korea’s cryptocurrency conferences told the news outlet.

“We are still in the very early stages in the creation of the token. Now we are in the phase of studying the goods that will give value to it,” he stated.

The government has declined from divulging any more information on the project, with the North Korean embassy in New York neither denying nor confirming the report.

The country has already been gathering its brightest minds in the field of blockchain technology to build its crypto. Kayla Izenman, a researcher at the Royal United Services Institute in London told the publication, “There is absolutely no doubt that they have the technical expertise to develop and utilize almost any iteration of cryptocurrency, whether that means laundering a previously-established coin such as Bitcoin through foreign unregulated exchanges or creating a nationalized cryptocurrency for themselves.”

While this would be the first official venture into crypto for the country, North Korea has long been linked to cryptos, but in a bad way. The country has been accused several times of being behind hackers that have amassed billions of dollars from their heists. However, the country has denied such reports, with a government official recently accusing the U.S. and other hostile forces of peddling the lies.

Cao de Benos further revealed that some foreign companies have signed contracts with the North Korean government to develop blockchain systems for various industries including education, finance and healthcare. However, he couldn’t reveal the names “due to sanctions and fake news.”

And while turning to a crypto may be a noble idea and one that North Koreans can benefit from, a state-run crypto may not be of much help. Similar experiments have proven that having the state run a crypto project could have disastrous results, as has been the case with Venezuela’s Petro crypto. The project has become more of a joke, despite the government’s efforts to force it on the people.

According to the report, North Korea wants the crypto to be more like Bitcoin and not a centralized state-run project. However, it’s unlikely the government intends to do this as it would relinquish control of its monetary system. Moreover, why create a currency that’s like Bitcoin, when the real Bitcoin already exists and is working perfectly?