TCR TOP STORIES
Home / Bitcoin / Craig’s Manifesto that strongly argues that the End of Bitcoin is Inevitable

Craig’s Manifesto that strongly argues that the End of Bitcoin is Inevitable

While the efficiency, as well as security concerns of bitcoins, have always been debatable, it has actually led to a division of the crypto market into halves. Where the first half believes in the potentiality of Bitcoin, the other half doesn’t seem to be much convinced.

Keeping in mind the other half, that never believes that Bitcoin can actually have a great impact in the future, the crypto market saw a major statement that came from this half of the market.

Craig Wright, an Australian entrepreneur recently published a really bold manifesto that wholeheartedly argues that BITCOIN will no longer survive in the market. In order to prove his statement, Wright mentioned that Bitcoin will soon disappear as it is now being used to facilitate criminal activities. He further said that because of its excessive use in illegal activities, it doesn’t fit perfectly with the actual vision of cryptocurrency.

What’s more in that Manifesto?

Now since Wright has been claiming that he is the creator of Bitcoin since really long now (although not proven yet), he argues that he created Bitcoin to operate within the law and never intended to facilitate criminal activity such as money laundering on this platform.

Here are more details that the manifesto contains:

“I designed Bitcoin to be a system that worked within the rules.”

“Bitcoin needs to act within the rules. If it does not, then the exchanges and systems that allow people to use Bitcoin act to stop it being widely used and disseminated and criminalise all of those in the system.”

“If Bitcoin or any other monetary system seeks to act outside the rules, it becomes an outlaw system, and once it does, it is easy to stop.”

“The majority of people want rules. They don’t want to fight in a world of uncertainty, and want to know that the contract that they have conducted will remain valid not just now, but throughout the term of the exchange — for which we need rules.”

Wright attacks Binance and Bitfinex as well

Well, Wright not only explains the Bitcoin’s future but also attacks some of the renowned firms like Bitfinex as well as Binance. He accuses them of lying to their customers that they are decentralized when actually they are not.

He further adds in the manifesto:

“Groups such as Binance who seek to facilitate money laundering and crime will always fail. They defraud you in telling you that they are decentralised and cannot be controlled.

“Bitcoin is a system that was set in stone. If the protocol is changed, then it shows and demonstrates it is not Bitcoin. When those involved altered the rules, they impacted their entire ecosystem — it is a centralised power structure. They defraud you when they lie about decentralisation and tell you that they have no ability to change things but then alter the rules.”

“When those in power are able to change the protocol, they can change the lives and the finances of those involved in the system at an arbitrary whim. It is why BTC is not Bitcoin.”

About Zaryab Afser

A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

Check Also

Crypto Exchanges Are Helping Banks Get Accustomed To Cryptocurrency

Jonathan Levin, co-founder at Chainalysis “We are now helping banks to understand how they can …

Leave a Reply

Your email address will not be published. Required fields are marked *

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.