One year later Craig Wright has yet to prove his claims that Bitcoin and Litecoin are flawed. One year ago through a tweet, Wright said that he was going to prove that Bitcoin as well as Litecoin had been attacked by irreparable bugs which would make the two virtual coins dead. However, the details of the alleged bugs are yet to be released, BeinCrypto reports.
As per Wright’s tweet which was dubbed ‘responsible disclosure’, the flaws were about the segregated witness (SegWit) improvement that was completed for the two coins back in 2017. Wright claimed that he would show how the two cryptos lack no utility and are dead calling them ‘dead coins walking’.
Who remembers Craig’s claim that he would reveal something something SegWit something, Bitcoin killed?
There you go. 50, 49, 48, … 🍿🍿🍿 pic.twitter.com/Js2RzXebRg
— Arthur van Pelt – Dragon Industries (@MyLegacyKit) September 27, 2019
Despite the ‘warning’ of the imminent death of Bitcoin and Litecoin, the two coins seems to be doing well going by their market value since the claims were made last year.
The only practical aspect that has happened today is the slight loss of value for the two coins where Bitcoin’s market capitalization is slightly above the $153 billion mark and its market dominance is at 66%. On the other hand Litecoin has also lost its ground as its value fell by about 3% but the trend is almost the same for the majority of cryptos in the market.
Wright has a habit of spelling doom for Bitcoin and other cryptos. In May this year, in a blog post, he claimed that when the time for Bitcoin’s death comes, it will happen in seconds and not slowly. In addition, the self-declared Bitcoin’s prophet of doom threatened to kill the Bitcoin market in November 2018.
Wright claims to hold more than 800,000 BTC and one would be inclined to think that spoiling Bitcoin’s credibility as well as value would be a simple task. All he needs to do is dump some of his Bitcoin and create a market crash.
It is now becoming clear that Wright is not Satoshi Nakamoto as he has always claimed and it is unlikely that he has the power to crash Bitcoin’s value now and in the future.