Craig Wright compared Bitcoin to the Ponzi scheme

Craig Wright compared Bitcoin to the Ponzi scheme

Crypto News
15.02.2021
Craig Wright

Australian entrepreneur Craig Wright once again announced that he is the creator of Bitcoin and compared the first cryptocurrency to a pyramid scheme.

In an interview with The Times, the self-proclaimed Bitcoin creator likened the first cryptocurrency to Bernard Madoff’s $65 billion Ponzi scheme.

“The price goes up because people pay. But it never lasts forever. Good old Charles Ponzi did it too. And Mr. Madoff … In the end, people leave. “

Wright believes that bitcoin, whose proponents view it as digital gold, has failed as a form of payment:

“Digital gold is boring. The first section of the Bitcoin White Paper talks about micropayments, which were the Holy Grail. “

Despite the fact that he was unable to provide any conclusive evidence, Wright still continues to claim that he created Bitcoin with the help of several other people.

In January, Wright accused the sites bitcoin.org and bitcoincore.org of copyright infringement in the publication of the White Paper and the use of domain names with the word bitcoin. Bitcoin.org refused to remove the Bitcoin White Paper at the request of Wright’s lawyers.

In May 2019, Wright attempted to copyright the Bitcoin White Paper with the US Copyright Office. Many call Wright a “patent troll” – he has filed 155 blockchain and cryptocurrency patent applications since August 2017.

As a reminder, last year Blockstream CEO Adam Back named Ethereum and several other high-cap altcoins as Ponzi schemes, putting them on a par with well-known pyramid schemes.

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