Halving Day Has Come And Gone, And Craig Wright Didn’t Destroy Bitcoin After All

May 18, 2020 / by Crypto.IQ

In September 2018 Craig Wright unleashed this absolute gem of a post. Basically, Wright claimed that he was going to sell a ton of Bitcoin (BTC) while matching with a 10X short sale, and simultaneously he would 51% attack the network to throttle all other transactions. This would be the perfect recipe to destroy Bitcoin (BTC) if anyone actually had the resources to do it, which is unlikely.

Fortunately, halving day has come and gone, and the Bitcoin (BTC) hash rate has crashed from 136 EH/s to 91 EH/s, rather than doubling, definitively indicating that there is no Wright-fueled 51% attack. Further, Bitcoin’s (BTC) price has not crashed, indicating that there is no massive dump happening.

It seems that Wright’s September 2018 public announcement was just a troll post, which makes total sense since Wright has been fighting against the Bitcoin (BTC) community for years.

That being said, even if Wright’s statement was just a complete troll post, it seemed somewhat serious and it is relieving that the Wright-ocalypse did not come to fruition.

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