BTC Wires

BSV Prices Drop by 24% in an Hour After Wright’s Bitcoin Whitepaper Patenting Debacle

BSV network hasn’t been in the news lately since the infamous hard-fork and the series of events that followed. However, BSV prices surged from $65 to $195 after the news of Craig Wright applying for the patent of Bitcoin white paper broke out. The surge was mainly caused by the Fear of Missing Out (FOMO), which saw the crypto token break into top 10 crypto list.

However, the surge was short lived as the prices fell by 24 percent in an hour to bring the BSV token back to its original 12th position. At the time of writing, BSV was trading at around $109, with a market cap of $1.95 billion. Despite the plunge, BSV is still trading at 74 percent higher in the 24-hour price chart.

Craig Wright’s Latest Antics Piss More People in the Crypto Community

Craig Wright is controversy’s favorite child, and if we think of it Wright has made a career out of it. Wright has been obsessed with proving that he is the original pseudo-anonymous creator of Bitcoin, but he has failed to provide any convincing evidence to prove the same. All his claims have been debunked almost immediately.

The continuous failed attempts have earned him the nickname Faketoshi. However, all the criticism does not seem to affect the man even a bit, as he comes up with new antic almost immediately after the previous one gets debunked. Lately he has testified under oath that he is the original creator of Bitcoin, and this time he has gone a move further to apply for a patent for the original Bitcoin white paper.

The funny thing is, Bitcoin white paper talks about decentralization and boasts of being open-source, and it is the reason that we have so many altcoins today. So, patenting an idea which clearly mentions that it is open-source is foolishness of the highest level. BSV prices might have surged overnight, but these antics had almost caused BSV to get delisted from several exchanges and service providers.

Hopefully, Wright can focus on making more developments on the BSV network rather than making claims of being Satoshi. The crypto world has had enough of these antics, and given the track record even if he is able to manage a shred of credible evidence, a majority of the crypto space is not gonna believe him.