In the midst of the so-called, “crypto-winter,” which has slashed off nearly $100 billion from the collective market cap and with many proponents advocating that only one real cryptocurrency exists i.e. Bitcoin [BTC], Craig Wright has foreseen a dark and dismal future for the altcoin market.
The Chief Scientist at nChain and spearhead of the Bitcoin SV [BSV] project has stated, via a tweet, that by June 2020 the altcoins market will begin to be, “culled,” as their leaders either abscond from their projects and flee or will eventually land up in prison.
His tweet read:
“In the next 18 months, the blood flows. Alt coins start to be culled as the “decentralized” leaders are imprisoned one by one or flee on the lamb for financial fraud and associated crimes”
Furthermore, he picked out two coins pegged as bastions of anonymity and increased secrecy, Monero [XMR] and Zcash [ZEC], and stated that the aforementioned two coins will be charged with fraudulent tax crimes.
The following thread to the above tweet read:
“Those thinking ZCash, Monero etc are even remotely anonymous will start being changed with tax evasion”
Wright further added, in reply to a comment on one of his tweets that he will present the findings of the above prediction later in the year. He also stated that the law enforcement authorities can monitor payments even when it is through “privacy-centered” coins like Monero and Zcash.
In his own words:
“Very I present it later in the year. The method is developed Law enforcement can monitor without informing you”
At press time, the top cryptocurrency Bitcoin holds 52.7 percent of the global cryptocurrency market accounting for a market cap of $63.84 billion. The altcoin market poses a market cap of $57.33 billion, an increase of 10.41 percent, compared to last week’s valuation of $51.92 billion.
Despite accounting for a mere 1.93 percent of the global altcoin market capitalization, Bitcoin SV [BSV], Wright’s cryptocurrency project, has recently been booted out of the top-10 last week, following a remarkable rise by Binance Coin [BNB]. BSV now finds itself occupying the eleventh spot on the global coin chart, with a market cap difference of more than $290 million against BNB.
Wright also landed in a bit of controversy yet again when he furthered his earlier claim that he was the “real Satoshi.” Following this claim, he got into a Twitter spat with Wikileaks, calling the website a “fake news cesspool” and comparing its founder Julian Assange to Ross Ulbricht, the man behind Silk Road.
Wikileaks also hit back at Craig Wright, stating and providing evidence that the nChain executive edited an August 2008 blog, adding a sentence to portray that he had been working in the cryptocurrency realm since then.
Twitter users have since voiced their support for Wright’s prediction, with Enrico Rusticali stating:
“Lower markets prices have triggered rumblings of discord and internal stress in the various foundations. Rumors abound. Fiscal discipline does not go hand in hand with easy money schemes. I agree on the time line.”
Paul ‘P.H.’ Madore stated:
“Someone has said this everyday since 2014. Bitcoin maximalists insist on it. They still aren’t right.”
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