November 15, 2019 has come and gone without the audacious claims of Craig Wright coming to pass.
Records has it that exactly one year ago, Wright made a tweet on his twitter handle claiming that he would release details on an alleged irreparable flaw in both Bitcoin (BTC) and Litecoin (LTC) that would literally render both coins null and void.
Dead Coins Walking
According to the tweet he made last November, the bug is tied to the Segwit (segregated witness) upgrade that came to be for both Bitcoin and Litecoin in 2017. He categorically stated that both currencies would be “shown to have no utility” and “are dead” before signing off with “Dead coin walking”
Despite his warning about the cryptocurrencies, they are still running just super cool. The only notable occurrence within the stated period was just a flash-fill of mempool. This led to high transaction fees and lengthy waiting periods for unconfirmed transactions on the Bitcoin blockchain.
A Quick Resolution
The good news is that it was just for a sort period because the issue resolved without any external interference.
The truth of the matter however is that Bitcoin actually has lost some ground today due to the fact that its market capitalization drastically fell to just over $153 billion while its market dominance is 66%. Litecoin on the other hand is facing some slight losses over 3% of its value.
Wright is fond of predicting the demise of cryptocurrencies. In May 2019, he made a post stating that “when BTC disappears, it will not disappear slowly, it will disappear in moments”. He has record of vilifying cryptocurrencies even with his claims of being Satoshi Nakamoto, the Bitcoin inventor.