Bitcoin SV: Craig Wright back in the spotlight with new controversies

  • In an interview with Tom Lee, Craig Wright has made new controversial statements about Bitcoin (BTC).
  • He also talked about the purpose of Bitcoin SV (BSV) and the adoption of cryptocurrencies.

The self-proclaimed creator of Bitcoin, Craig Wright has made new controversial statements in an interview with Tom Lee. He talked about how Bitcoin has, according to him, moved away from its original concept of electronic money.

Wright on the original purpose of Bitcoin

The interview took place on Thomas Lee’s show, 3 points TV. Lee interviewed Wright, president of nChain, and Jimmy Nguyen, president of the Bitcoin Association. The interviewees gave their opinion on the current state of the cryptomarket and on Bitcoin. Wright and Nguyen began the interview by claiming that there is manipulation in the market and a lack of real use of Bitcoin.

They also stated that Bitcoin is not a store of value and that it has failed in its original design of being electronic money. The interviewees emphasized the need to use Bitcoin according to its “original concept”, with real uses on a large scale. As both of them emphasized, Bitcoin has become a pure object of speculation. Wright explained that the original idea behind Bitcoin was to create an alternative currency to fight the rich and the traditional financial system.

For Wright, the conversation should therefore be focused on adoption. Something that, he says, Bitcoin SV is achieving at the business level. Wright said:

When I first imagined and created Bitcoin, the goal was to allow micropayments, to allow business use…. Many people saw a different aspect of what was in Bitcoin.

Wright also said that the current state of Bitcoin is a struggle between two conceptions. The first is, according to Wright, its “original design” versus the alternative design of “digital gold or something”.

Wright in China and a legal decision on Bitcoin that could last 90 years

On the other hand, Wright has also caused controversy in two separate areas to the interview with Tom Lee. He recently began a tour throught Asia. The first destination was the Tsinghua University. There, Wright was invited to be part of a panel to talk about Bitcoin, Bitcoin SV and its history. The event was sponsored by the Tsinghua International Blockchain Association (TIBA).

The organization was criticized for inviting a figure like Wright. However, they defended their position by pointing out the need to have multiple points of view at the event. At the event, Wright provided the biggest stir on various social media platforms by signing a Bitcoin whiterpaper as Satoshi Nakamoto.

In the meantime, Wright is facing legal disputes. In the case of Dave Kleiman, one of his former associates, Wright’s legal team demanded a 90 year extension to give Kleiman’s heirs half of the Bitcoin (500,000 BTC) originally mined by Satoshi Nakamoto. The sentence was passed by a judge in August and must be completed by 23 December of the current year. However, Wright has stated that he does not currently have the means to pay the fine.

Wright is and will undoubtedly remain one of the most controversial characters in crypto space. You can see Craig Wright’s full interview below:

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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