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nChain CEO Discusses Why Bitcoin SV Has Grown So Much

Bitcoin SV has been around for about ten months. The coin has been delisted from several trading platforms and has also faced several legal battles, including one that alleged its creator, Craig Wright, purportedly tried to cheat his dev operator out of a bitcoin inheritance according to court documents.  Bitcoin SV Has Garnered a Mixed Reaction However, CEO of nChain Jimmy Nguyen recently offered his thoughts on the currency and says that despite all the negative press, the network for the coin is growing exponentially. Jimmy is well associated with Craig Wright considering the latter serves as the “chief scientist” for nChain. Bitcoin SV is the “child” of bitcoin cash. The original currency underwent a serious hard fork in late 2018 which saw to the release of bitcoin SV. That coin has received a rather mixed reception upon its arrival, with several crypto industry experts (i.e. Roger Ver and Craig Wright) going for each other’s throats regarding which coin they saw as more valuable: bitcoin cash or bitcoin SV. Nguyen isn’t worried and says things like the latest lawsuit between Craig Wright and Ira Kleiman have done little to affect the currency’s overall stamina. He comments:  If anything, it validates that Craig was involved… There has been a lot of news about it, but BSV’s price is relatively stable. I think that’s because there’s a recognition that BSV is bigger than Craig Wright or any one person. We are supposed to scale and create the original vision for what bitcoin is supposed to be. There’s a lot of people working in the space beyond Craig. At the same time, Nguyen does acknowledge that Craig Wright’s actions in the past have altered BSV’s patterns to one extent or another. Discussing the currency’s pattern of being delisted from cryptocurrency exchanges, he states:  The big lesson we’ve learned is how the cryptocurrency world needs to grow up and professionalize. The delisting decision by Binance and Kraken and other exchanges highlights this because it’s clear the decision to delist has nothing to do with BSV or its network. It all had to do with dislike of Craig Wright, a key backer of BSV, and his choice to invoke legal remedies and to pursue libel claims against people who he believes have been defaming him online.  This Was Just a Power Trip He says that in the end, the delisting process was the result of cryptocurrency trading platforms seeking to show power. While the idea behind digital assets is that they should be decentralized, several exchanges sought to invoke their authority with steadfast precision. He claims:  I also think the situation created a learning moment for cryptocurrency. I get it; Craig Wright is provocative. I also say that you don’t change the world without being provocative. The post nChain CEO Discusses Why Bitcoin SV Has Grown So Much appeared first on Live Bitcoin News.
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Squire Enters Into Development Agreement With nChain

VANCOUVER, British Columbia, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Squire Mining Ltd. (CSE:SQR, FWB:9SQ, OTCQB:SQRMF) ("Squire") is pleased to announce it has entered into a continuous development and services agreement (the "Agreement") with leading U.K. blockchain research and development firm nChain Limited ("nChain") to collaborate and develop leading blockchain software solutions.   With the recent acquisition of custom cloud computing management and pooling software and source code (called "Taal Orchestrator") announced on May 2, 2019, Squire plans to enhance this software solution in collaboration with nChain to create operational performance optimization, efficiencies and internal controls. Taal Orchestrator conducts and coordinates pools of cloud computing assets providing full visibility and transparency to end-users to track performance and perform other functions previously unavailable to industry participants. Squire and Core Scientific will also work with nChain to develop the Bitcoin SV based blockchain supply management, distribution and public pooling solution (the "Distribution Platform") announced on June 4, 2019. The Distribution Platform is a modular system encompassing: an e-commerce platform based on blockchain technology with an auditable ledger of actions unique digital tokens representing physical cloud computing assets providing an access and control framework with real-time tracking capability complete asset life cycle history enhanced software management and end-user interface "We are very excited to be working with Squire to develop next generation cloud computing software solutions," said David Washburn, CEO of nChain. "Squire is at the forefront of the rapidly changing blockchain infrastructure landscape, and nChain looks forward to partnering with Squire as they ...Full story available on

Calvin Ayre Predict’s Facebook’s Libra Would Be Forced To Have nChain Portfolio

With the announcement of Facebook’s crypto project Libra, it seems like everyone wants to join the tech giants on their new venture. The list includes Mastercard, Visa, PayPal, Stripe, eBay, Uber, Lyft, Spotify, Coinbase, Xapo, Andreessen Horowitz, Union Square Ventures, Mercy Corps, and Women's World Banking, among others. The shrewd head of nChain Calvin Ayre […]
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Calvin Ayre rides the Libra wave; floats unlikely Facebook – nChain – Bitcoin SV partnership

While Facebook is wooing multi-billion dollar companies like Visa, MasterCard and Uber into the Libra fold, an unlikely suitor tried to sweep Mark Zuckerberg off his dainty feet. After the introduction of Facebook’s Libra, several leaders have openly displayed their annoyance over Facebook’s preconceived dominance in the space. Compliant to the above is the walking-talking […] The post Calvin Ayre rides the Libra wave; floats unlikely Facebook – nChain – Bitcoin SV partnership appeared first on AMBCrypto.

Bitcoin [BTC] does not stop banks or even banking, says nChain’s Craig Wright

Hard forks in the cryptocurrency world have become a common phenomenon, with the most famous ones being the Bitcoin [BTC] – Bitcoin Cash [BCH] hard fork and the Bitcoin Cash split which gave birth to Bitcoin ABC and Bitcoin SV [BSV]. Craig Wright, the Chief Scientist at nChain and the self-proclaimed Satoshi Nakamoto, has been one of BSV’s prominent proponents. In a recent podcast with Sal Mayweather, Wright spoke about setting Bitcoin as a standard for transactions, as well as the effect it can have on central banks across the world if cryptocurrencies went mainstream. One of the first things that nChain’s Chief Scientist touched upon was the suspension of his Twitter account, commenting, “It doesn’t really matter that my account got suspended. No one is going to do anything about it anyway.” Wright stated that he started on the concept of Bitcoin back in the 90s, claiming that it “was nothing like the sh*#show that Bitcoin is right now.” He commented on how being in the cryptoverse was a learning curve, suggesting that there are parallel use cases of cryptocurrencies. Wright also spoke about how not paying dividends didn’t make something a security, citing the examples of Google and Facebook. According to the Bitcoin SV proponent, Bitcoin is not going to curb banking or stop banks from operating at their optimal potential. He said, “Bitcoin doesn’t stop banks or even banking. What it does is create an immutable evidence trail that will enable us in stopping corruption. It also forces people to have a single set of books and in turn reduce the fraudulent activities in the ecosystem.” Craig Wright also commented on how BSV is like gold as it is neutral and because different people can have different opinions on it. He conceded that there is the risk of fraud in the system. However, BSV will reduce its magnitude, Wright claimed. In his words, “The idea is to make a single ledger but let’s be honest, there will still be Nigerian prince scams.” The post Bitcoin [BTC] does not stop banks or even banking, says nChain’s Craig Wright appeared first on AMBCrypto.
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High ETH Prices Are (Finally) Good For Ethereum

Things are looking pretty bullish for Ethereum (ETH). The Ether price has surged by over ten percent in the past couple of days, and crossed above the psychological $200 barrier earlier this afternoon. That could be a strong buy signal for technical traders, as Crypto Briefing analysts reported yesterday.   Source: CoinMarketCap How High ETH Prices Harm Ethereum But what does a high Ether price mean for the smart contract network? There’s an obvious benefit for speculators and miners. But past experience has shown that anyone seeking to build dApps or just use the network could be severely hampered when markets turn bullish. That’s because the higher ETH prices get, the more expensive it is to use the platform. Users have to pay for everything they do on the network, from smart contract computations to token transfers. Rising gas fees could push end-users onto cheaper alternatives, like EOS or TRON, which offer similar functionality with lower fees. At least, that’s the received wisdom, which so far seems to be supported by experience. And it’s still technically true today: when it comes to using the ETH network, the downsides of a high Ether price tend to outweigh the advantages. Does Expensive ETH Mean A Stronger Network? However, Ethereum is (eventually) transitioning towards a Proof-of-Stake consensus model, which will require a financial commitment in order to participate. Instead of mining blocks through proof-of-work, block-producing nodes will have to stake ETH tokens as collateral in order to validate the network. That could have a significant impact on Ether’s market dynamics. Stakeholders will risk losing their hodlings if they fail to maintain connected and up-to-date node software. An expensive ETH would provide a strong disincentive to malicious or careless actors on the network. “If the chain is going to be secure, then there are inherent benefits from having high-valued Ethereum,” explained Nic Carter, Partner at Castle Island Ventures, in an interview with Laura Shin. A high Ether price, he added, would also provide “high-powered collateral, for DeFi applications for instance.”  Carter also pointed out that most networks have become too preoccupied with one or two “glamour metrics,” which may burnish their credentials but do not represent credible advantages. EOS, for example, has focused solely on scalability at the expense of decentralization. One tradeoff of those high speeds is that EOS relies on a small group of validators, which could present a systemic risk if they decided to collude or otherwise abuse their privileged positions. Ethereum’s key advantage is that it is the only platform with a vibrant community, Carter added, which comes with an “organic groundswell of usage and development.” Because of that organic usage, investors may be attracted to hold ETH for the long-term. “I think we noticed a little bit of a recalibration where initially [Ether] was computational gas,” Carter went on to say. “More recently, certain high-profile Ethereans have been saying, ‘well actually Ethereum itself is money.'” A strong Ether price could still push people off the network, but the community has been exceptionally resilient to market volatility and rival platforms over the past two years. The burgeoning DeFi space, and the added security after transitioning to Proof-of-Stake, could make high prices a net positive for the Ethereum network. The post High ETH Prices Are (Finally) Good For Ethereum appeared first on Crypto Briefing.
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