Apr 16, 2019 07:00 UTC
Apr 16, 2019 at 07:00 UTC
Why Craig Wright Needs to Stop Pretending He is Satoshi?
Craig Wright is a well-known personality in the crypto space but not necessarily for the right reasons. Wright has been obsessed with pretending that he is the pseudo-anonymous creator of Bitcoin, Satoshi Nakamoto. However, the problem is not that he has tried to pass off being the anonymous creator using cheap conman tricks, but even after being debunked and called out for his lies, he does not seem to be faded. This persistence might not have convinced many but it surely earned him the nickname “Faketoshi.”
The pretention started with an interview where he signed the genesis block using the private key which many believe that only Satoshi possess. However, the problem was that the interviewer had no idea about cryptocurrency and how it works. Later it was revealed that the private key he used was a copy of one of the transactions signed by original Satoshi.
In another incident, he modified one of his research papers he wrote for an Australian government project before the invention of Bitcoin, in accordance with the original Bitcoin White paper. This was also debunked by crypto analysts who analyzed both the papers and decided that the two are not even scarcely related.
Craig’s latest antics to prove himself as Satoshi has come down to verifying under oath. I find it quite funny and ironic since someone who has been proven to be lying on so many occasions thinks that making a statement under oath would change the mind of the masses.
Why Craig Wright is Not Even Remotely Related to Satoshi
Satoshi Nakamoto invented Bitcoin as a cashless peer to peer network which would help the underprivileged and end the monopoly of centralized institutions like banks. The whole purpose of creating Bitcoin was to challenge the establishment and not a digital currency which would be valued in thousands of dollars.
Satoshi remained anonymous to let his invention take the driving seat and also ensured that it is open source so that others can make use of the protocol and codes to create something of their own, which many did and we have thousands of cryptocurrency today.
Now, coming to Faketoshi, the man is everything but Satoshi or even scarcely related to the thought process of the anonymous creator. Craig has been heard claiming he has more money than an entire country while being in one of the African countries. He has recently said that Bitcoin is not even cryptocurrency and it was never intended to work against the government or establishment.
If that does not make you understand why Craig is not one of the most loved personalities in decentralized space maybe the fact that his company nChain has applied for hundreds of patents on Blockchain technology will. Yes, a man who claims to be the creator of Bitcoin (an open source project) want to patent his findings for the technology which is meant to be “giving” and serve the community.
Craig Wright’s Bitcoin Satoshi Vision Blockchain is a Mess
Craig is also the head of the Bitcoin Satoshi Vision (BSV) a blockchain network which was created during one of the most infamous hard forks in decentralized space. The BSV network was engaged in a heated war of words as well as hash war with Bitcoin Cash Network to claim the status of the original chain.
Craig has claimed that the BSV network is the real vision of Satoshi and would be better than the Bitcoin blockchain. He has promised 100X transaction processing and scalability on BSV network at the time of the fork. However, the BSV network turned out to be exactly like Wright himself, promised big, delivered nothing.
As of today, the network’s hash rate is dangerously low where the vulnerability of a 51% attack has increased significantly high. It would only take the attackers a mere $6,500 to carry out a full-fledged attack on the network, while its competitor BCH network would cost at least $25,000. A high hash rate signifies higher mining activity on the network.
BSV Blockchain Might End Up in The Crypto Graveyard
BSV blockchain is not even a year old, but the antics of its creator Craig Wright has now pissed so many people that many exchanges and wallets have decided to delist BSV. It all started with a Bitcoiner calling out Craig a fraud on Twitter and tried pushing a hashtag with a similar message. Craig’s attorney in the response sent him a legal notice and also said that a legal lawsuit would follow if he fails to publically apologize to Craig.
This behavior has really got everyone annoyed and instead of ignoring it like every other time, the crypto community has decided to teach Craig a lesson. Binance CEO today revealed that it would be delisting BSV services from its exchange and it seems many others would follow the same.