Craig Wright, well known as Faketoshi for trying to claim that he was the creator of Bitcoin [BTC], recently spoke about the market dump of the #1 cryptocurrency. This is widely considered to be because Bitmain, one of the biggest mining networks on the Bitcoin network, has deployed a lot of hashpower to its Bitcoin ABC implementation, which is now considered as the continuation of the BCH ticker.
Wright claimed responsibility for the crash, stating that it was a selloff as they needed to pay for more electricity in order to fund the inordinate amount of hashpower that they are deploying to the Bitcoin SV chain. He also blamed the market’s lack of value on BTC, stating that the market was very thin. He elaborated:
“We aren’t aiming to make the prices go down but that’s never going to be out because. If we get more money, if we were to get three times as much in BTC for exchange we would actually be able to throw more hash at them. The reality is we’re not seeking to push down to BTC price. That’s not the goal. It’s just a consequence.”
Offering his thoughts on the CEO of Bitmain, Jihan Wu, who he has long considered his rival, Wright stated that he wanted to change the Bitcoin Cash protocol to add more coins. He said that Wu wished to do the whole “ICO thing”, wherein multiple coins can be launched on the BCH protocol. However, this is already being shut down by the SEC, stated Wright, going on to say that he predicted it occurring two years ago. He stated:
“One of the things [he] wants to build with Wormhole is a method to have enabled capital flight out of China. I don’t know about you but the creation of a system that becomes more and more illegal is the last thing I want to do to get sort of global adoption of Bitcoin.”