Bitcoin

Craig Wright threatened to drop the price of Bitcoin … but what happened?

There are still many predictions of a halving that have not yet been met, including Dr. Long-Term Advance Craig Wright, who calls himself Satoshi, for 2018 that the price of Bitcoin would collapse.

The warning came from a group of Slack with whom Wright communicates with his acolytes, and his intrepid scheme makes for a fascinating read.

Discarded at the time

Craig Wright threatened to drop the price of Bitcoin … but what happened?
Craig Wright threatened to drop the price of Bitcoin … but what happened?

Wright’s massive sell-off threat came just before the Bitcoin Cash blockchain branched off to create Bitcoin SV.

Although there were some true believers who clearly enjoyed the possibility of these events actually happening, many at the time rejected this as typical Wright boast and self-promotion.

A rolling iceberg does not collect moss

Wright said the sale would consist of a continuous snowball order on a single exchange followed by significant orders on other exchanges. Large orders are divided into smaller batches with visible and hidden parts. Hidden parts only become visible after visible parts have been executed.

This should significantly lower the price of BTC and coincide with a short 10-fold leverage to capitalize on it.

At the same time Wright planned to limit the network hash and refuse all transactions except “Undetected SegWit TX for miners and our own exchange TX”.

This should be done by adding 51% of the network hash performance before the price dropHowever, no further details were given on how this would be achieved.

The computer says no”.

As Cointelegraph reported, Bitcoin’s third halving event took place as planned. The only bad result was that YouTube turned off our live streaming party and a group of vaguely disappointed Hodlers.

Until now The hash rate has been relatively unaffected, and if Wright doesn’t lag behind Bitcoin’s drop in price over the weekend, we can only assume that the halving in which he plans to hatch the system is planned for 2024.

It seems that everyone can breathe calmly again … at least for another four years.

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