nChain’s BSV Leader Craig Wright Claims Bitcoin (BTC) is Not a Cryptocurrency


Craig Wright, the controversy's favorite child in the decentralized space has never shied away from making headlines but not necessarily good ones. The man has made numerous attempts in the past to establish himself as the pseudo-anonymous creator of the Bitcoin, and each time his claims have been debunked almost immediately, and his longingness to establish himself as Satoshi Nakamoto has earned him the nickname

“Faketoshi”

In a recent interview with CoinGeek Craig has made headlines again (no surprises there!) claiming that Bitcoin is not a cryptocurrency. He stated that Bitcoin cannot be called as cryptocurrency as it d0oes not have any legal validity. He went on to claim that before anyone recognizes Bitcoin as currency, the financial institutions would be digitizing their own fiats.

Craig Wright believes that governments around the globe would make use of the capabilities of Bitcoin and then print their own money over it. Crag believes there is a difference between Bitcoin and other payment systems making use of cryptography. He explained,

“Cryptography is secret writing. Bitcoin is the exact opposite of that. Bitcoin is basically a public ledger. Instead, Bitcoin is a chain of evidence that is pretty much everything that those other systems that aim for anonymous transfer are not.”

Bitcoin Was Not All About Decentralization

The absurdness of Wright's claims continued throughout the interview, where he wen ton to question the Bitcoin's financial credibility. He claimed that Bitcoin was never intended to democratize the financial sector, as it was impossible to achieve with just the Bitcoin. It was necessary for the protocol to remain stable and restrict developers from making fundamental changes.

When questioned about the effect of quantum computers on cryptocurrency space, Wright remained skeptical of a potential collapse due to quantum computers and explained,

“To create something that could attack Bitcoin in the mythical quantum computer world would require an unrealistic area of quantum computer space: it’s FUD, it’s snake oil …none of it will ever affect Bitcoin.”

Conclusion

Craig Wright has lost his credibility due to his relentless claims of being the original creator of Bitcoin. Although, he does possess the insights of the decentralized space in spite since he has been connected to it for long. But as the decentralized space gained more momentum and he had nothing t0 offer, he decided to become a troll.

He has been called a serial liar and fabricator and despite trying to establish himself as the original creator of the Bitcoin and failing every time, the man has decided to bash Bitcoin itself. He needs to understand that people really don't pay much hide to his statements anymore apart from a few loyal followers. And if he wants to really make an impact, he needs to come out of his bubble first.

https://bitcoinexchangeguide.com/bitcoin-btc-ethereum-eth-and-litecoin-ltc-price-predictions-todays-crypto-market-analysis/

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