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Monero’s [XMR] Riccardo Spagni calls Craig Wright ‘so dumb’; attacks Wright’s lawyer credentials

Akash Anand



Monero's [XMR] Riccardo Spagni calls out Craig Wright as 'so dumb'; attacks Faketoshi's lawyer credentials
Source: Pixabay

Craig Wright, Chief Scientist at nChain, has been in cryptocurrency hot waters for quite some time now, with his claims of being Satoshi Nakamoto being disputed by most of the cryptoverse. The latest chapter in this episode was written when Wright filed a copyright for the Bitcoin whitepaper, something that was seen by the Twitter community as a gimmick and “just another form.”

The latest proponent to come out and attack the Bitcoin SV proponent is Riccardo Spagni, the lead developer at Monero. In his latest tweet, Spagni wrote,

“PSA: Craig Wright is so dumb he made it illegal to run Bitcoin SV test net using the Bitcoin SV code when he illegally re-licensed it. He claims to be a lawyer, but fails to get something this simple correct…?”

According to the screenshot attached with the tweet, the mistake is in the hash number pointed out by Spagni. The hash does not define the algorithm, therefore a user can use any algorithm to come up with the given value. Spagni’s sentiment was shared by many members of the cryptocurrency community, with many starting a series of hashtags such as #CraigWrightissodumb. One user, Catoshi MeowMotonaut, tweeted,

“Are we playing  #CraigWrightissodumb ?
My entry “Craig Wright is so dumb that he sued a cartoon character on twitter”

This tweet was followed by a tweet from @amritha, a Bitcoin enthusiast, who added,

“… and then called the owner of Twitter a criminal for liking alt-coins and was banned for life from the platform, resigned to writing articles to himself on Medium.”

The copyright registration was met with a lot of trepidation by the community, but the story received another twist after Jerry Britto, Executive Director at Coincenter, clarified that just because a copyright is filed, it does not mean that the claim becomes legitimate. Post the filing, the copyright office will proceed to check if the clauses in the copyright document were true or not and only if it comes out green, does the ‘Bitcoin creator’ title go to Craig Wright. Britto added,

“Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them. Someone else could today also register themselves as the author of the white paper, thus inviting a suit from Wright and letting a court decide on the validity of the claim. I volunteer @petermccormack.”

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Bitcoin’s volatility – an indication of growth or regression?

Biraajmaan Tamuly



Bitcoin's volatility indicated to be a key aspect of its current success
Source: Pixabay

Market volatility plays a huge role in the financial ecosystem of assets and cryptocurrencies are regularly linked to its predominant effect. Whenever Bitcoin exhibits a rapid price movement in the market, the majority of the critics tagged the digital currency with extreme volatility and state that it would eventually lead to its downfall, since crypto assets cannot be trusted on a long term basis.

This assumption was recently widely questioned as data showed that over the last few months, the volatility rate had actually decreased for Bitcoin but the community continued to talk against the coin’s development solely on the basis of the crash witnessed by BTC after the bull run of 2017.

Pierre Rochard, a bitcoin enthusiast, recently spoke about the situation and stated, that the volatility might actually be one of the reasons why Bitcoin was starting to find prominent success in the market.

It was suggested that Bitcoin had been accumulating value over the years through various implementations and at specific time frames, short-term traders were causing an effect on the price, which would cause the “incidental price surge”. The price surge would then undergo correction and witness a fall but the price would continue to grow at a progressive rate.

The aforementioned reason can be backed by the fact that Bitcoin had indeed outperformed the likes of commodities like gold in the recent market analysis, and it was released that Bitcoin attained more profit in the long-term returns and risks asset trade in comparison to the S&P 500.

A recent data also exhibited that since 2013, any investment that included 5 percent Bitcoin to 95 percent fiat currency gathered more returns and lesser risk than the S&P 500; which also witnessed losses in 2017.

Twitter user @1Mark Moss indicated that Bitcoin was growing at it’s natural growth rate and stated,

“The volatility is the difference between perception and reality. And the reality is BTC continues to progress, just not as fast as the perception makes it seem sometimes… just part of the natural evolution.”

However, another user @JordiMorris1 explained that the people had more to do with the volatility and anything else. He said,

“The relationship of people towards Bitcoin is volatile. Bitcoin is predictible by nature, its production is stable independently of how crazy people go about Bitcoin. No sense to blame on Bitcoin.”

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