U.Today – CTO David Schwartz has a way of breaking down complex problems into simple explanations. Recently, during a lively discussion about X, he explained why (BTC) is truly exceptional. At the heart of his view are two closely related ideas: Bitcoin's historical importance and its economic value.
Schwartz's stance stands out amidst the debate over the technical differences between blockchains. He says that what makes Bitcoin special is not its technological superiority. After all, blockchain features such as scalability, low fees, and energy efficiency can be easily transferred. What makes Bitcoin special is that it has a lot of history and is a top proof-of-work chain in terms of economic impact.
This observation came when he was talking about comparisons with Bitcoin SV (BSV). BSV has all the unique benefits of unlimited scalability, near-zero transaction fees, and minimal energy usage. But Schwartz stood his ground.
These features, while impressive on paper, do not convey the full value of a PoW chain. These technical advantages are less important if people don't have the same level of trust in it and don't use it much.
Discussion participants also raised several issues with Bitcoin, such as scalability and energy usage. Schwartz acknowledged these issues, but noted that while there is debate over Bitcoin's role as a payment system, it remains a reliable store of value and a widely accepted financial asset.
This combination of strengths and weaknesses is what makes Bitcoin special.
Is Craig Wright back?
The discussion came after a dispute between Schwartz and Craig Wright, who was allegedly using the X account under the nickname “S Tominaga.” Indirectly proven by the fact that Mr. Schwartz replied to him in this conversation, if it is indeed Mr. Wright, the Australian businessman once again claims that he is the inventor of Bitcoin. It does not allege that it lost the legal battle with COPA. Please prove anything.
Mr. Schwartz's response avoided delving into these broader allegations and instead focused on Mr. Wright's repeated legal actions. Schwartz emphasized that his concern is not with silencing anyone's opinion, but with preventing abuse of the legal system to target others.
This article was originally published on U.Today
