Popularly known self-proclaimed bitcoin creator, Craig Wright has spoken on his intentions of creating bitcoin and the major functionalities that bitcoin was originally created to provide.
Craig Wright in a recent interview revealed that when he created bitcoin about a decade ago, he had created it to be in sync with government policies and wasn’t meant to act as a store of gold, which goes against the popular believe that bitcoin is digital gold. He further maintained that bitcoin was created to achieve a micropayment and commercial internet use. According to Craig, Bitcoin was designated to provide rapid power settlements and security systems.
Bitcoin Was Designed To Comply With Regulations
Speaking on the general belief of what bitcoin has become in just over ten years, Craig confirmed that influencers, which he referred to as “other camp” several times during the interview were the guys who wanted bitcoin to be a store of value and outside government. However, according to Craig, “that’s not bitcoin.”
Craig has taken any available opportunity within the last few months to declare himself the popularly known anonymous Satoshi Nakamoto. As Craig gradually earns himself the personality of the unknown Satoshi, he has recently tried to prove his right to ownership of the bitcoin network by revealing that some “virgin bitcoins” are still locked up within the bitcoin network, to which he would have access in May 2020.
Bitcoin Performs Beyond Expectations
Bitcoin may have overachieved over the last decade of its existence and future achievements are still impossibly to adequately quantify. Constantly used as a medium of exchange, peer-to-peer mode of settlement, and a convenient store of value, bitcoin has landed its price at levels that even Craig obviously didn’t imagine.
Bitcoin had a rough week. Its price had slumped by 10%, shedding around $550 in the process. PresntlyAlthough bitcoin being outside government has attracted regulatory bodies and governments to go against its use in many ways, the cryptocurrency still finds a way to keep its head above waters.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com