Bitcoin Isn’t Supposed to Be Anti-Government or a Store of Value, Says Craig Wright

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Here’s some fresh fodder on the table for critics of Craig Wright. The self-proclaimed creator of Bitcoin appeared on the financial news outlet Cheddar yesterday and, as usual, went on to defend his questionable claim of being the true identity behind the pseudonym, Satoshi Nakamoto.

Of course, Wright didn’t bother producing any evidence to back any of his bold claims — but then, that was always expected given his past record.

Not stopping there, Wright also maintained that he never intended to make Bitcoin a store of value. Instead, he said, the idea was to have the world’s first cryptocurrency facilitating micropayments while simultaneously creating a new system that enables commercial internet use.

“It enables you to have a rapid-fast settlement, secure systems, many other things. It was never a store of gold,” he added.

Bitcoin Needs Government

The lack of regulation by a central authority was a key theme in the original Bitcoin whitepaper by the REAL Satoshi Nakamoto. However, according to Wright, Bitcoin was never meant to “work outside government.”
Arguably the most hated person in the crypto space today, Wright added:

“[….] The cypherpunks and whatever else, they are the guys who want this to be something else. They want it to be a store of value. They want it to be outside of government. That is not Bitcoin. Bitcoin doesn’t work outside the government.”

Wright was accompanied by Jimmy Nguyen, president of the Bitcoin Association, during the interview. When asked if he believed Wright to be the actual creator of Bitcoin, Nguyen unhesitantly gave a positive response — a controversial stand that has made him susceptible to stark criticism from the broader crypto community time and again.

Nguyen and Wright also emphasized that Bitcoin and other cryptocurrencies have failed to do justice to the original cause for which they were created — i.e. to serve as peer-to-peer electronic cash (and not a peer-to-peer store of value.) This is one aspect, Nguyen added, where Bitcoin SV could outperform its peers.

Of course, Crypto Twitter soon erupted in outrage. However, for a change, a large chunk of the backlash wasn’t even directed at Wright or Nguyen. Instead, Cheddar found itself facing much of the brunt as angry tweeters criticized it for giving a platform for Craig Wright to further his agenda.

Meanwhile, Bitcoin today hit an ‘unprecedented’ 14 red four-hour candles in a row.

What’s your take on this yet another controversy stirred by the self-proclaimed Bitcoin? Do you think it’s high time we, the media, stopped giving him any undue attention unless he backs his claims with genuine and verifiable evidence? Let us know in the comments below.

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Images are courtesy of Shutterstock, Twitter.


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Shilpa is a network engineer and management graduate who is deeply passionate about artificial intelligence and blockchain technology. She has been associated with several leading science & tech publications throughout her career as a journalist and columnist. Full-time foodie, semi-skilled musician, wannabe novelist.

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