Back in 2017, there was a civil war over how to scale Bitcoin. Now there are the big blockers, those who believe Bitcoin blocks should increase in size to accommodate the capacity of transactions, and small blockers, who say it’s better to optimize the block space they already have.
It’s no secret that I’ve always been a big blocker. I love big blocks and I cannot lie!
While I’m a fervent supporter of privacy coins such as Monero and Pirate Chain, I consider myself a miner-maximalist when it comes to Bitcoin. Miners are the foundation of Bitcoin. If the Bitcoin network was a nightclub, the miners are not the bouncers; they are the club owners.
Because I believe the most significant use case for Bitcoin is entrepreneurship, I recognize that BSV is the logical manifestation of the big block philosophy applied to Bitcoin.
The best part about this is that savvy entrepreneurs can now leverage Bitcoin miners to power their entire business.
In case you missed it, I had the pleasure of interviewing Bitcoin entrepreneur Jack Liu, CEO of RelayX. We spoke in-depth about how and why the original Bitcoin protocol was designed for entrepreneurship.
RelayX is best described as a Token marketplace. Their mission is to help people participate in a real-time economy. RelayX is genuinely unique in that not only is it a wallet where you can send or receive crypto, but it’s also a portal to so many other apps that you can use your cryptocurrency with.
RelayX can hold and send tokens, which is something that was not associated with Bitcoin Core (BTC). Users have access to many BSV startups from RelayX, which is exciting when you see it for yourself.
Jack Liu explains that the opcodes in the original Bitcoin protocol have been ignored, which is one reason the Bitcoin civil war broke out. These opcodes cannot even be seen on BTC anymore, limiting what people thought Bitcoin could do and when it could do it.
For example, we didn’t need Ethereum for smart contracts. The original Bitcoin protocol is perfectly capable of creating smart contracts, but no one talks about this.
By now, many view Bitcoin as digital gold, an investment asset. However, a store-of-value is not all that Bitcoin is meant to be because it can do what any other blockchain can do.
RelayX shows us a glimpse of this with its openness and innovation. During our conversation, Jack told me that RelayX aims to be purely a software company, not a financial one. With this mindset, the possibilities could be endless.
Enjoy the full interview:
Once all apps are coordinated onto BSV, Jack Liu’s vision is for platforms to become merely windows to data on the blockchain, enabling multiple transaction layers. One example is pairing a token with a physical product, such as a shirt, allowing another layer of transactions where the token verifies the shirt’s authenticity. This also enables the token to be sold as an NFT, an additional secondary market.
The transparency that this technology enables has the potential to upend Silicon Valley. It may sound complicated, but Jack Liu breaks it down in a way that’s easy to understand.
In the video above, Liu further explains his philosophy and why he is all in on BSV. We also discuss criticisms of big blocks, such as the notion of “spamming the network.” We even dive into whether Bitcoin Cash will ever compete with Bitcoin SV, what challenges BSV and RelayX face, and what other opportunities there are with big blocks.
By the way, I’ll be at FreedomFest in Rapid City, South Dakota this week to spread the gospel of crypto. Wednesday, July 21, I am speaking on How To Survive and Prosper with Cryptocurrency During and After the Dollar Collapse.
I’m also moderating a panel discussion Friday, July 23, titled Crypto Entrepreneurship: What’s Next for This Disruptive Technology. The panel will feature Charlie Shrem, George Gilder, Rob McNealy, and Sean Worthington.
If you’re planning on being at FreedomFest, be sure to say hello! We’re even bringing the Freenauts, Anarchapulco’s favorite hip-hop crew, to help run The Crypto Vigilante booth. We’ll also be raffling off a bunch of giveaway items, including several Trezor Model Ts and GoDark Faraday Bags.
If you do not have your ticket yet, you can save $100 using the discount code CRYPTO100