Bitcoin SV proponent, Dr. Craig Wright, has never been shy about making headlines in the cryptosphere. In a recent interview with CoinGeek, the self-proclaimed creator of Bitcoin, re-ignited the feud, claiming that Bitcoin was not actually a cryptocurrency.

Wright stated that he did not consider Bitcoin as a currency since the token did not have any legal validity. He stated that before the token got any official acceptance, financial institutions of the state will release their own “tokenized fiat.” He predicted that the centralized fiat currency would “use the capabilities of Bitcoin and print its own money on top of it.”

There is a difference between Bitcoin and other e-cash systems that use cryptography, he said. He added,

“Cryptography is secret writing. Bitcoin is the exact opposite of that. Bitcoin is basically a public ledger. Instead, Bitcoin is a chain of evidence that is pretty much everything that those other systems that aim for anonymous transfer are not.”

Additionally, Wright also commented on Bitcoin’s financial credibility. He said that Bitcoin was not about “democratizing finance,” and that it was impossible to achieve with Bitcoin. It was necessary for the protocol to remain stable and restrict developers from making fundamental changes.

Finally, Wright remained skeptical about the potential collapse of cryptosystems from quantum computing. He stated,

“To create something that could attack Bitcoin in the mythical quantum computer world would require an unrealistic area of quantum computer space: it’s FUD, it’s snake oil …none of it will ever affect Bitcoin.”

Craig Wright was recently in the news after it was speculated that he was posting anonymously to buy old Bitcoin Wallets, for a payment of $5000.

The post Bitcoin [BTC] is not actually a cryptocurrency, claims Bitcoin SV’s Craig Wright appeared first on AMBCrypto.

160 +