Jimmy Wales, the co-founder of Wikipedia, has publicly expressed strong skepticism about Bitcoin SV (BSV), a cryptocurrency ranked among the top ten by market capitalization. He stated that the digital asset holds “no usefulness” for the online encyclopedia.
These remarks came in response to an announcement from the organizers of the CoinGeek London Conference—an event that promotes Bitcoin SV to stakeholders—which had listed Wales as a featured speaker.
Questioning Wales’ Conference Participation
Conference promoters initially claimed that Wales would speak about how blockchain technology could support projects like Wikipedia. In their promotional materials, they argued that no blockchain—except Bitcoin SV—had the scalability to handle micropayments or the enormous data throughput required by Wikipedia.
However, on February 7, Wales directly refuted this narrative on Twitter:
“Your marketing materials need immediate updating—people seem to be taking this as some kind of endorsement by me. Let me be clear: BSV offers no benefit to Wikipedia and the chance we would use it is zero.”
The tweet quickly garnered over 1,000 likes and stirred mixed reactions across the cryptocurrency community. Many observers questioned the intent behind the conference’s announcement and Wales’ actual stance.
Recent Developments in Bitcoin SV
Bitcoin SV underwent a significant protocol upgrade, dubbed “Genesis,” on February 3. This hard fork was designed to remove several existing network limitations but resulted in a minor chain split, temporarily creating two competing versions of BSV.
Key changes from the Genesis upgrade include:
- The removal of hard-coded block size limits, effectively allowing “unlimited” block sizes.
- Shifting control over block size to miners, making it a configurable parameter.
- Increases to other network constraints, such as maximum transaction size and the number of possible signatories in multi-signature wallets.
Bitcoin SV originated as a hard fork of Bitcoin Cash, which itself was a major fork of the original Bitcoin blockchain in August 2017. BSV is closely associated with Craig Wright, who has controversially claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Wright is currently involved in ongoing legal disputes, with recent accusations that he has complicated court proceedings with his statements.
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Frequently Asked Questions
What is Bitcoin SV?
Bitcoin SV (BSV) is a cryptocurrency that resulted from a hard fork of Bitcoin Cash. It aims to restore what its proponents consider Bitcoin's original protocol principles, focusing on massive on-chain scaling and stability.
Why did Jimmy Wales speak against Bitcoin SV?
Wales clarified that his participation in a conference should not be seen as an endorsement. He stated that Wikipedia has no plans to integrate BSV due to its lack of perceived utility for the platform’s needs.
What was the outcome of the Bitcoin SV ‘Genesis’ upgrade?
The upgrade led to a chain split by removing multiple consensus limits. While intended to increase network capacity and flexibility, it temporarily created two competing chains until miners resolved the inconsistency.
Who is Craig Wright in relation to Bitcoin SV?
Craig Wright is a prominent advocate of Bitcoin SV and has publicly claimed to be Satoshi Nakamoto. His involvement has been a source of controversy and ongoing legal scrutiny within the cryptocurrency community.
Could Wikipedia ever adopt a cryptocurrency?
While Wales dismissed BSV, he hasn’t ruled out blockchain technology entirely. For any cryptocurrency to be considered, it would need to demonstrate clear utility, scalability, and alignment with Wikipedia’s operational values and technical requirements.
What does this mean for the future of BSV?
Despite technical upgrades and vocal support from certain groups, skepticism from influential figures like Wales may affect public perception and adoption efforts in the broader tech and non-profit communities.