Connect with us

Bitcoin

Bitcoin [BTC] is not actually a cryptocurrency, claims Bitcoin SV’s Craig Wright

Biraajmaan Tamuly

Published

on

Bitcoin [BTC] is not actually a cryptocurrency, claims Bitcoin SV's Craig Wright
Source: Pixabay

Bitcoin SV proponent, Dr. Craig Wright, has never been shy about making headlines in the cryptosphere. In a recent interview with CoinGeek, the self-proclaimed creator of Bitcoin, re-ignited the feud, claiming that Bitcoin was not actually a cryptocurrency.

Wright stated that he did not consider Bitcoin as a currency since the token did not have any legal validity. He stated that before the token got any official acceptance, financial institutions of the state will release their own “tokenized fiat.” He predicted that the centralized fiat currency would “use the capabilities of Bitcoin and print its own money on top of it.”

There is a difference between Bitcoin and other e-cash systems that use cryptography, he said. He added,

“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.”

Additionally, Wright also commented on Bitcoin’s financial credibility. He said that Bitcoin was not about “democratizing finance,” and that it was impossible to achieve with Bitcoin. It was necessary for the protocol to remain stable and restrict developers from making fundamental changes.



Finally, Wright remained skeptical about the potential collapse of cryptosystems from quantum computing. He stated,

“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.”

Craig Wright was recently in the news after it was speculated that he was posting anonymously to buy old Bitcoin Wallets, for a payment of $5000.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

Published

on

By

John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending