After a prolonged scaling war and several splits it appears that we are now entering a new era of Bitcoin, says Chief Bitcoin Historian and GorillaPool founder Kurt Wuckert Jr. However, BSV blockchain continues to show clear superiority when it comes to issues such as scaling and speed.

Wuckert Jr explains that he has been involved in Bitcoin for over a decade and has continued to champion it ever since.

‘I got into Bitcoin in 2012, which is relatively early, and I just always found it fascinating. I just missed the window that Satoshi Nakamoto was in. Was there anything I could have spoken to him about? And so I just read a lot. I wanted to know, what did he think about Bitcoin? Is it different now than what he envisioned?

‘And I just read every word he said and got very enthralled with the intention, how Bitcoin is architected, and are we utilising the technology the way that the architect wanted us to?’

Wuckert Jr noted that he has always been a ‘big blocker’ and continues to focus on the underlying technology rather than investment opportunities.

A new era of Bitcoin

‘We are entering a new era in Bitcoin. I think we have the scaling war that people think of as sort of 2015 to 2017, but it was like they had a disagreement and that’s when the civil war started.

‘But I still think we’re very much in the middle of the Bitcoin civil war. There are four chains currently that are mined on SHA-256. It’s essentially four chains out of consensus and we’re fighting about which chain is the real Bitcoin.’

Wuckert Jr said this next stage has become about legal battles and having conversations about property rights and other tough topics.

‘So I think when we start to get those things solved and ask what is Bitcoin? What is property? Can Bitcoin be owned as property? I think when we solve those things, that will be the end of the scaling war chapter.’

A changing viewpoint

Wuckert Jr said Bitcoin will shift from being seen as an investment vehicle towards an international micropayment system.

‘I think ultimately bad ideas can go on for a very long time. But I think they will cease to be the chief ideas. Like right now, the big idea about Bitcoin is that it is a savings technology and that it’s an asymmetric investment opportunity.

‘That will always be the case, I think. But I think it will be a much smaller case. I think what we’re disrupting is the ability to monetise and transmit data globally at a micropayment level. And I think that in a decade from now people will think of Bitcoin and they will think of monetised data as an economic opportunity.’

People are still getting Bitcoin wrong

Wuckert Jr added that most of the ideas that people have about blockchain are wrong.

‘The assumption is that it is an inefficient technology for broadcasting and transmitting monetised data, and they’re wrong.

‘If we can teach developers that their stack can contain a way to monetise interactions with people globally and that to work them into their product is actually trivial. The tools exist. There are good repos, there are good developer libraries and things available that they can copy and paste and then ultimately integrate Bitcoin into their business.’

He pointed to the inherent scalability of BSV blockchain compared to other chains such as Ethereum. These chains also face problems with speed and transaction throughput – which could ultimately lead developers and businesses to make the switch to superior Bitcoin.

‘Here is my chance to build that blockchain app that I’ve always wanted to build but couldn’t because Ethereum didn’t let me build it.’