Tokens, NFTs, smart contracts, and wallets for digital currencies – in the latest installment of the Bitstocks podcast, Joshua Henslee sits down with Michael Hudson to explore these popular topics in Bitcoin and the larger blockchain ecosystem.
NEW #ConsciousConversations – Talking Tokens: NFTs, Wallets & Smart Contracts
Joshua Henslee (@cryptoAcorns) sits down with our own Michael Hudson (@btchudson) to provide his expert opinion on the current topic, NFTs & more!
📺Watch now https://t.co/rpIiz4VtWW pic.twitter.com/smf0w2dFPJ
– Bitstocks (@Bitstocks_) March 11, 2021
Hudson and Henslee discuss Henslee’s path to full-time employment with Bitcoin, SHUA coins, the transition from SHUA to the RUN network, and the benefits of operating with RUN.
“Right now the tools and custom things you can do [on RUN] is completely wide open, ”said Henslee. “As with the MoneyButton, they’re just getting started. So they’re based on APIs and permissions, so right now you can only do what they allow you to do.”
Bitcoin is currently in a protocol war. As tokens and NFTs have become very popular, the token protocols present on Bitcoin are competing for the top spot. This leads businesses and developers to take an interest in the Token Protocol, which has the greatest advantages when trying to achieve this. For this reason, ShuaCoin has migrated from Money Button’s Simple Factory Protocol for tokens to the RUN network.
With that in mind, it’s important to point out that the Bitcoin ecosystem is currently not interoperable. Henslee and Hudson continue to discuss the problems that exist when there is no interoperability, as well as the steps Bitcoin wallet providers need to take to improve the overall user experience and advancement of BSV, especially when it comes to taking advantage of the to leverage zeitgeist and the creation of NFTs.
“There is no token support from the wallets. Relay started doing this last fall, but it’s only those who are waiting. It’s not that I can just create one and it’ll show up in the wallet. Money Button has that, but it’s allowed again. From my point of view it doesn’t work, ”said Henslee.
“I need a wallet where I can just put a token and it will show up in the wallet. I can tell you now that I have tools ready for this type of thing, but I won’t be able to start them until I have a wallet that supports them. Because ok i can do NFT art but if i am a user where can i see it? “Said Henslee.
“I could put a coin out there now that says you can take a picture here, you have your NFT, this is the transaction ID, it’s at this address. But if they can’t see it and can’t broadcast it, then they don’t own it. Without that part we can’t go, ”he added.
Bitcoin is currently in a phase of rapid innovation and is making significant progress as a result. However, this has shown that many of the tools and resources Bitcoin companies and developers need to be successful either do not yet exist or are not easy to use.
I believe that more of these tools and resources will be created in the near future as they are in high demand now. But the fact that they don’t yet exist slows the speed at which innovations can take place.
“We have to be like this, see what’s going on here on Ethereum, we can do that now,” said Hudson.
“If there is ever a time to transfer people to BSV from other projects, I feel that NFTs are one of our better ways to do it. In the spirit of what crypto is today, and I think that all other aspects where we are invisible, plumbing and big corporations going beyond that, come 100% but with that in mind, the spirit of crypto and the current ones To really sustain developments in crypto in the moment and actually have another opportunity that we are not leaving behind [NFTs stand a good chance.]”
BSV has almost gotten to the point where we can not only say that we can do things better than other blockchains, but will soon have companies and proof-of-concept demonstrating these benefits.
“I’ve been more optimistic than ever about where we’re going for the past two weeks,” said Henslee.
“But when that is said, we react only slowly, and then we have the division in space. When this token thing is booming, you see a lot of people [asking], ‘Are you registered, licensed, etc, etc …’ how who cares? We just have to go! We don’t currently have the luxury of questioning use cases. “
“It’s fucking number 30 on CoinMarketCap, and people pretend it’s not a problem. And they all act like this: Oh, that’s fine, it’s like the dog in the house while the house is burning down. “
“We have to go! And we’re sitting here and discussing: Oh, can I do that, can I do that, we don’t have the luxury man.”
It’s time to move fast and break things, it’s time to break things to fix them. Now is the time to push the limits of what Bitcoin can do and luckily we have pioneers like Joshua Henslee and Michael Hudson making this a reality.
Bitstocks podcast episode 37 “Talking Tokens: NFTs, Wallets & Smart Contracts” is one for the books. Henslee and Hudson talk about some of the hottest topics in Bitcoin and Blockchain, and where BSV falls into the mix.
Watch the full episode below:
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