Craig Wright, a businessman who humbled himself as a Bitcoin evangelist after the Satoshi trial and the king of pranks on duty, sharply criticized billionaires for turning bitcoin into “a simple speculative tool”. In his opinion, the world’s leading cryptocurrency has lost its original purpose of providing accessible and low-cost transaction options to “billions”.
Serving the Bitcoin Billions
It’s not the first time Wright has recalled Bitcoin’s original protocol, which he says puts producers, traders and innovators at the center of economic development. A recently published X-in his post he put it like this:
“Bitcoin was built for billions, not billionaires. Billionaires who live by exploiting opaque financial systems and centralized control have distorted this narrative. They seek to reduce Bitcoin to a mere speculative tool, a tool of accumulation, not its creation.”
In Wright’s opinion, the activities of billionaires are “futile” in terms of long-term goals. He pointed out that Bitcoin’s technology was originally intended to allow the flow of wealth without the intervention of gatekeepers.
The vision of #Bitcoin was never to cater to a select few lounging in the penthouses of financial privilege.
It was built for the billions, not the billionaires.
This statement is not merely a slogan but a clarion call to the masses, an assertion of the individual’s rightful… pic.twitter.com/itNIjBsdJp
— S Tominaga (@CsTominaga) November 16, 2024
TerraNode: Wright’s solution to scaling Bitcoin
A few weeks ago, Craig Wright spoke about a revolutionary technological solution that, in his opinion, could restore Bitcoin to its original function. THE TerraNode Wright claims he has been working on an “infinite” scaling solution for 15 years.
TerraNode aims to eliminate unjustified increases in transaction fees while supporting a borderless electronic cash system. According to Wright, the technology could see a public launch within the next decade and fundamentally change the world of cryptocurrencies.
What is the responsibility of billionaires?
According to Wright, the billionaires who currently dominate the Bitcoin market have completely rewritten the narrative. In their eyes, Bitcoin is no longer a tool to support economic development, but “lounging in the luxury apartments of financial privilege” tool. According to Wright’s criticism, these people use Bitcoin not to create, but to accumulate.
According to him, billionaires have created a system that prioritizes individual interests, while Bitcoin’s goal is to provide low-cost transactions available to everyone.
The Future of Bitcoin: Billions or Billionaires?
Wright highlighted that the essence of Bitcoin is a of “the purest form of capitalism” would be supported. In his opinion, the goal is for the cryptocurrency to provide widespread access, thereby promoting global economic development.
The future of Bitcoin therefore fundamentally depends on whether the community can return to the original vision. According to Wright, the technology is already there; it’s just a matter of what narrative users and managers follow.
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<p>The post Fake Satoshi spoke out against bitcoin becoming a speculative asset first appeared on CoinBuzzFeed.</p>
