Over the course of the past few weeks, two of the most prominent backers of the Bitcoin Satoshi Vision (BTCSV) project, Craig Wright and Calvin Ayre, have gone on record to state that the original Bitcoin (BTC) token will slide down to zero in the coming few months. In their opinion, the primary reason for this crash will be BTC’s lack of ‘real utility’ as well as it lack of scaling options. If that wasn’t enough, both Ayre and Wright also believe that scaling solutions such as the Lightning Network are only hindering the widespread adoption of Bitcoin (particularly from the standpoint of being a legitimate method of payment).
Bitcoin Dropping to Zero? – More on the Matter
As many of our readers probably already know, Craig Wright has been one of the most controversial figures within the crypto world for quite sometime now. For starters, not only was he one of the individuals responsible for the recent Bitcoin Cash (BCH) hard-fork but he has in the past, also claimed that he was the pseudonymous inventor of the Bitcoin protocol.
Following the BCH hardfork (which gave rise to Bitcoin SV and Bitcoin ABC), Wright openly vowed to wage a “hash war” against a host of other blockchains — starting off with Bitcoin ABC. In his quest, he is supported by Calvin Ayre, who is the owner of Bitcoin Cash’s largest mining pool (CoinGeek).
Wright Continues to Rage on Twitter
A closer look at Wright’s twitter handle shows us that the Australian computer scientist has has spent a large chunk of the past 24 hours on the social media platform. For example, Wright sent out more than 30 different tweets today alone— with most of these messages being directed towards the shortcomings of the original BTC project and how Bitcoin SV is a much better option that the former.
As mentioned earlier, Calvin Ayre seems to support Wright’s ideas and in an interview with a respected media outlet late last year, he was quoted as saying:
“The hard fork was a distraction but the downturn is because the SegWit coin that’s erroneously still called ‘bitcoin’ now follows the old-fashioned financial trends. It’s also because people wrongly focus on market cap when it should be about scalability and actual usability. Bitcoin SV is a currency, not an asset just to be held, and has real utility.”
In closing out this article, it is worth mentioning that contrary to what Ayre and Wright believe and claim, BTC adoption has actually increased quite significantly over the past 12 months. And while the premier asset is still not a go-to option for most people when it comes to making everyday payments, one has to acknowledge that more and more investors are now looking at BTC as a legitimate long-term ‘store of value’.
It now remains to be seen what the future holds for the Bitcoin SV project and whether or not Dr. Wright’s predictions come to fruition by the end of 2019.