Bitcoin Cash (BCH)’s Craig ‘Satoshi’ Wright Calls Tezos (XTZ) a “Shite Coin”
There are many different virtual currencies in the market right now. And indeed, some of them still need to show how they work and that have a positive side. Tezos (XTZ) is part of this group of projects. During the last year, Tezos had different setbacks that delayed the official launch of the project to the market.
At the moment, these problems seem solved, but Craig Wright is convinced that Tezos is a ‘shite coin.’
Tezos was launched through an Initial Coin Offering (ICO) that had several problems. Indeed, the team has experienced some complications that clearly harmed the community and investors. And indeed, they took over a year to issue their tokens and release them to the market.
Now, the company is working in order to launch their mainnet, something similar to what EOS and Tron have done during the first part of this year. Once the mainnet is launched, they will be converting their ERC20 tokens to full-fledged blockchain tokens.
Now, the Tezos network is in beta testing, but the project is following the path that has been proposed by the team. But there are some concerns regarding the legal aspects of the project. For example, XTZ tokens may be classified as securities by the U.S. Securities and Exchange Commission (SEC). Something similar to what XRP could be facing. Until now, there is no official information from the SEC on the matter.
The important and known figure in the cryptocurrency world, Craig Wright, is not impressed about the project. Indeed, he is convinced that Tezos is a Shite coin. This is what he wrote back on August 26 on his twitter account.
But he did not provide any information about why he thinks in this way.
At the moment of writing this article, Tezos is the 19th most important virtual currency project in the market with a total value of $830 million dollars. Each XTZ token can be bought for $1.37 dollars.
In the future, Tezos may be able to solve its legal problems and issues with regulators and investors. But it will have to show much more if the project wants to convince Craig Wright about its future potential.