.Dr_CSWright sees no reason for $BTC outside 'pyramids and Ponzis'
CSW was triggered by Back's forecast about the upcoming Bitcoin price rally. He is sure that the Bitcoin price upsurge can only be fueled by the logics of a Ponzi scheme since BTC has no usage or viable functionality as of today.A commentator on his tweet shared the battle-tested list of Bitcoin narratives that should explain its global dominance and value proposition:
Scarcity, digital property rights for 8 billion people, store of value, hedge against fiat. Secure ledger, Proof of work, Security. Dr. Wright answered that proof-of-work consensus is rather an instrument of Bitcoin operations, not its killing feature in the blockchain rivalry.Also, security is not unique to Bitcoin and is not a virtue of its design. Bitcoin is secured by use, distribution and scale, he added.
As covered by U.Today previously, Craig Wright is well known as a"Self-Proclaimed Satoshi": for years, he has tried to convince the global cryptocurrencies communty that it was he who created the Bitcoin whitepaper.Also, he is suing crypto entrepreneurs, experts and entire services for various reasons. For instance, he won his defamation lawsuit against crypto blogger and educationer Peter McCormack, host of What Bitcoin Did podcast. However, the U.K.
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