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Craig Wright: I don’t Worry About Government Taking over Bitcoin

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Craig Wright: I don’t Worry About Government Taking over Bitcoin

Australian businessman Craig Wright, which claims to be “Bitcoin creator” published a post stating that there is no concern about the government taking over Bitcoin. In the last manifesto, he spoke about the creation of Bitcoin and its progress since 2009.

“In 2009, there was practically no value at any point to Bitcoin other than a promise of the future… The dream was not terribly valuable at the time, and many people failed to adequately protect the Bitcoin that they were mining.”

Craig stated that he created a system that was designed for specialization, as this is the only way it can operate.

Besides, Wright never worried about government would take over the Bitcoin.

He justifies this by saying that governments can’t even agree on regulating the cryptocurrency sector, let alone something more.

As we know over the past two weeks, the US Congress has participated in several hearings on the Libra project. As a result, regulators did not decide the future of Facebook’s project, while other cryptocurrencies, such as Bitcoin, were discussed superficially only.

Tomorrow, on June 30th, the Senate hearing on the regulatory framework for cryptocurrency and blockchain technology will be broadcast live. Perhaps we will get more clarity on cryptocurrency regulation.

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As Craig Wright declares, Bitcoin is designed, to be honest money, and the system performs within the framework of the existing legal structure.

Craig wright Bitcoin

Source: https://craigwright.net/blog/economics/subsidised-growth/

“I foresee a large distributed database that is operated as an economically secure system. It will become a global ledger — not because individuals run it, as such isn’t the way Bitcoin was designed, but because individuals can operate a peer-to-peer network that is settled and secure without facing an economically significant risk of double spending,” he says.

The Current Achievements of Self-Proclaimed Creator of Bitcoin

In recent years, Australian entrepreneur Craig Wright has been trying to convince the community that he is Satoshi Nakamoto, who created and launched the Bitcoin network in 2009.

Nevertheless, he has got the support of only a small group of crypto enthusiasts, who are involved in the altcoin’s ecosystem Bitcoin SV. The rest either simply ignore his antics, or publicly accuse him of lying.

The base of Wright’s creation of Bitcoin is his ex-partner in the W & K Information Defense company, computer forensic expert Dave Kleiman, whose brother accused the entrepreneur of stealing intellectual property and about 1 million BTC.

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On June 28th, a court hearing was held in Florida on the sensational case of Kleiman vs. Wright, during which nChain senior researcher Craig Wright first stated under oath.

In this trial, both parties are interested in the fact that Wright was Satoshi. For this reason, they are repelled by this argument as true, not trying to refute it, although Wright himself repeatedly submitted forged documents, made foolish reservations, and also never publicly used Satoshi’s signature.

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The main purpose of the meeting was to hear the explanations of the self-proclaimed Bitcoin creator regarding why he did not provide the court with the requested documents about his BTC funds because for that he faces a charge of contempt of court.

Victoria Tiebienieva is an Ukrainian based cryptocurrency writer with over 5 years crypto experience. Victoria has written numerous articles for popular cryptocurrency website across Ukraine. She just joined Today's Gazette as our Europe Correspondent.She's available for conversation on victoria@todaysgazette.com

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