That's Not Bitcoin!' Craig Wright Rebukes Anti-Government Crypto Bulls

craigh wright bitcoinCraig Wright argued Bitcoin was "never" a store of value and needs the government, triggering a Crypto Twitter meltdown. | Source: Oxford Union/YouTube

By CCN Markets: There are few things Bitcoin and Bitcoin Cash partisans agree on these days, but theres still one activity that brings the two halves of cryptos Great Schism together - bashing Craig Wright.

The controversial Wright claims to have invented Bitcoin, which he subsequently abandoned following the Bitcoin Cash hard fork, only to abscond to a third project - Bitcoin SV - a year later.

Craig Wright Alleges Bitcoin Needs Government

Speaking on Wednesday during an interview with financial news outlet Cheddar, Wright provided both BTC and BCH proponents with some fresh fodder, alleging that cryptocurrency was never meant to be a store of value or the slightest bit anti-government - in fact, quite the opposite.

Craig Wright defends his claim that he invented bitcoin. #CheddarLive pic.twitter.com/bk4520Fgdx

Wright said:

The whole idea was about micropayments. Its about a system that enables commercial internet use. It enables you to have rapid-fast settlement, secure systems, many other things. It was never a store of gold.

Thats an argument that Bitcoin Cash backers will readily get behind - ensuring crypto becomes electronic cash was the primary driver of the 2017 BCH hard fork. However, this next remark promises to trigger a deluge of backlash from both sides of the fork.

The other camp - the cypherpunks and whatever else - theyre the guys who want this to be something else. They want it to be a store of value. They want it to be outside government. Thats not Bitcoin. Bitcoin doesnt work outside government.

Need proof? Just consider that Roger Ver, perhaps the chief evangelist of Bitcoin Cash, responded to President Donald Trumps attack on cryptocurrency by taunting him with the knowledge that users can buy and sell BCH anonymously.

Ver, incidentally, has lambasted Craig Wright as a fraud. Wright responded by suing the Bitcoin.com owner for libel.

Crypto Twitter Suffers Meltdown

Wrights interview incited the expected rage on Crypto Twitter, but notably, the brunt of the firestorm wasnt directed at Craig Wright - but rather at Cheddar for having the audacity to let him speak at all.

you're enabling a fraud, simple as that. reconsider this ASAP.

I thought you were a news organization. Is this supposed to be news?

I thought Cheddar was for legitimate news? Maybe reconsider who you are giving a platform to here?

Congrats, you're now enabling known scammers and frauds to defraud more people.

Cheddar defends its claim that it i ...

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Tags: Craig Wright, Bitcoin, Cryptocurrency, Bitcoin Cash, Government, Store of value, Western Schism, Donald Trump, Twitter, CCN Markets