The new year has just begun but has already caused a stir with Dr. Criag Wright, the famous Bitcoin SV [BSV] proponent taking a dig at Bitcoin [BTC]. Wright took to Twitter on January 2 and accused Andreas Antonopoulos, a Greek-British Bitcoin proponent of advocating false notions about Bitcoin [BTC]. Wright wrote on his Twitter:
“Word of warning! The renowned shitcoin expert Andreas Antonopoulos is as far as anyone can come to understanding Bitcoin. The only thing correct… how to spell Bitcoin. If you want to learn bitcoin, blockchain Avoid the anarchist priests Sorry. Nothing he tells you is right”
Wright continued to accuse the entire Bitcoin ecosystem of being a Ponzi scheme which is against the banks and government. The BSV proponent added on the Twitter thread:
“These guys have an idea of what they want as a system. It is anti bank, anti gov and based on scams, ponzis and get rich yesterday schemes. The best they understand are bucket shops and cons. Luckily. Bitcoin is designed so all these fools spin their wheels on dead ends …”
Wright further added:
“… like lightning ans proof of stupid.(stake) Bitcoin… Is proof of work It is capitslism It is rule of law A PUBLIC immutable evidence based ledger”
This is not the first time Wright has taken a hit at Bitcoin. Wright had previously claimed to be the one behind Satoshi Nakamoto pseudonym. Since then, Wright has been promoting Bitcoin SV [BSV] as the “true Bitcoin” and trashing Bitcoin [BTC] along with Bitcoin Cash [BCH].
However, Wright does not only dislike talking about Bitcoin but also other coins as according to him only BSV is the original Bitcoin. Wright tweeted:
“If you want my opinion on any “coin” that is NOT the original bitcoin. You are blocked. That is my opinion. You are an idiot even trying to ask me about these scams.”
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LocalBitcoins see steady trading volume in Russian Ruble following cash-trades exodus
LocalBitcoins, the Finland-based peer to peer cryptocurrency exchange, announced earlier this month that trading in a country’s national fiat currency will be disallowed, leading many in the community to believe that countries not on the frontlines of the digital asset world would be hit the hardest. Three weeks on, some defiant trends have been noticed.
According to CoinDance, the weekly LocalBitcoins chart revealed that the Russian Ruble [RUB] recorded towering volumes, even after the June 1 cash-exodus announcement. With many expecting a drop in volume, other top countries have also seen the absence of an immediate plummet, with Moscow being the stand-out.
The first week of June saw a notable high of RUB 1,174 million in volume owing to the native currency, while the aftershock of the announcement dropped the same down by to RUB 1,104 million by the second week. The next two weeks saw the volume surge back to its May 2019 heights, with the week beginning on June 22 recording a volume of RUB 1,188 million in volume.
On the basis of the above data, Russia is indeed a positive LocalBitcoins market.
The Finnish exchange has also been popular in South America, with its weekly volumes doing exceedingly well in the markets of Colombia, Venezuela, Peru, Chile, and Argentina, with Brazil, the only Latin American country left-out.
Buenos Aries saw its weekly volume from the initial weeks of June to mid-June drop from $13.71 million to $10.53 million, following the cash-removal announcement. In terms of the Colombian Peso, CoinDance stated that the number for the same was $9.98 billion towards the close of May 2018, and dropped to $7.16 billion by the first week of June. However, the same has since stabilized to stand at $9.2 billion.
LocalBitcoins began mulling the possibility of phasing out fiat currency trades following its inclusion under the supervision of Finland’s financial watchdog, the Financial Supervisory Authority [FSA] in March 2019. This inclusion was made days after Finnish legislators stated that cryptocurrency-based assets would be given legal status under the law. However, the act will officially come into force later in November 2019.
Additionally, several changes were made to the country’s Anti Money Laundering [AML] laws and Countering Financial Terrorism Act [CTF], which would require the exchange to follow the stated guidelines.
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