CoinGeek’s chief Bitcoin historian Kurt Wuckert Jr. recently joined “Stocks And Coffee With Didi,” a show hosted by Yedidya Levy that often talks about finance, Nassim Taleb, the Black Swan, anti-fragility, asymmetrical payouts, trading, stocks – and option trading strategies are discussed – and – coffee.
What brought Kurt and Levy together was a recent video Levy created dealing with Nasim Taleb’s recent paper on BTC, titled “Bitcoin, Currencies, and Fragility,” which many people call the “Bitcoin Black Paper.” The interview between Kurt and Levy begins with the two discussing Taleb’s paper and the elements it contains that each should pay close attention to.
“He explains the protocol, how it works as a network, how it works in relation to game theory, how does the network economy motivate actors to secure the network itself, how money is created, what are the results of what it creates, what are they Long tail predictions of what will come out of this thing at the end, it’s a very thoughtful piece of paper, ”Kurt said, explaining how block size can limit the usefulness of a coin and the ever-diminishing usefulness of BTC.
“If you look at BTC over time, it has actually lost its usefulness in recent years, it has become less useful, it will be less useful in 2021 than around 2015,” he added.
Kurt and Levy also talked about the mechanics of the BTC network and why it harms its usefulness before moving the discussion to mining and the impact miners are having on the price of digital currency. The two also discussed the Lightning Network, El Salvador’s decision to accept BTC as legal tender, the threats BTC faces that could pull the network down, and where investors should look.
Kurt concludes the episode by telling the audience why he supports the BSV:
“I was a big blocker before Bitcoin Cash (BCH) or Bitcoin SV (BSV) existed. In 2015 when it really clicked for me that Bitcoin wasn’t just a payments network, that it wasn’t just peer-to-peer e-money, but I realized, oh that Ethereum thing, smart contracts and tokens and all of these other things were an innate ability built into the Bitcoin protocol. “
“Ethereum does nothing that Bitcoin cannot do. BTC rejected these things, but I started fighting for these things in 2015 because it was like we had a global network, the global network should be able to do anything, much like the internet ” , he added . “Bitcoin SV is specifically the only network that has re-implemented the entire bitcoin stack. Let’s forget what everyone else said over the past decade, let’s look at what Satoshi Nakamoto actually gave us and let’s implement that and see who builds on it. “
To learn more about Nassim Nicholas Taleb’s recent paper, why the technological aspects of a network are important when it comes to the usefulness and utility of coins, why BTC might start to relax, and more, see Bitcoin Expert Discusses Taleb “Watch and The Claim That BTC Is Worthless,” with Kurt Wuckert Jr.
New to Bitcoin? Check out CoinGeek’s Bitcoin For Beginners section, the ultimate resource guide, to learn more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.