XRP Is Illegal and ETH Is Useless, Craig Wright Says

The BCH hash war may be the most disastrous event for the prices of cryptocurrencies in general. Not only did the price of that altcoin collapsed by almost 50% as a result of this confrontation, but practically the entire community and the rest of the projects have suffered its consequences.

Something that has characterized the “leaders” of both sides has been the discredit of their contender and bias that makes it difficult for users to forge an objective idea of the situation by analyzing the arguments of their primary sources.

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A few days ago, Craig Wright, one of the main promoters of BSV (one of the implementations known as Satoshi’s Vision) expressed via Twitter his impressions about several cryptocurrencies, perhaps in an attempt to generate controversy or to give credibility to his fork which has already lost half its value with respect to the original BCH blockchain.

According to Wright, the two most important cryptocurrencies of the ecosystem after Bitcoin are complete failures that could be put aside. The man known by the community as “Faketoshi” commented that ETH lacked use-cases and that after its destruction, XRP was next on the list.

After saying that ETH lacked use cases (hard to believe for a blockchain on which most of the projects of the crypto verse run), Wright spoke of Ripple. In his early tweets, his approach was quite technical and respectful:

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After giving a technical opinion, Wright turned to a more disrespectful and rude style, increasing controversy. According to his new wave of tweets, XRP is nothing less than a scam. For Wright, XRP is actually an unregistered security.

In a later tweet, Craig Wright talks about how in the future, if XRP is declared as security, all trading in this currency must be halted.

Finally, he went much further, mentioning that all tokens that are put into circulation should be prohibited because they are securities. In this list includes BTC, ETH, XRP among others.

Currently, several exchanges are working on making the necessary changes to list BAB (Roger Ver’s version) and BSV (the version promoted by Calvin Ayre and Craig Wright) as cryptocurrencies ready to trade after the disappearance of BCH as a single cryptocurrency before the fork.

Evolution of BCH price starting near one week before its fork. Heikin Ashi candles are used to reduce noise. Graph: Tradingview