There are many halving predictions yet to come true — among them Satoshi claimant Dr Craig Wright’s ‘long term advance notice’ from 2018 that he would crash the Bitcoin price.
There are many halving predictions yet to come true — among them Satoshi claimant Dr Craig Wright’s ‘long term advance notice’ from 2018 that he intended to crash the Bitcoin price.
The warning emerged from a Slack group that Wright uses to communicate with his acolytes, and his dastardly scheme makes fascinating reading.
Dismissed at the time
Wright’s sell-off threat came just prior to the much-hyped fork of the Bitcoin Cash blockchain to create Bitcoin SV.
Although there were some true believers who clearly relished the prospect of these events actually occurring, it was dismissed by many at the time as typical Wright braggadocio and self-promotion.
Rolling iceberg gathers no moss
According to Wright, the sale would consist of a rolling iceberg order on a single exchange followed by significant orders on other exchanges. Iceberg orders are split into smaller lots with visible and hidden parts, the hidden parts only becoming apparent once the visible parts have been executed.
This was intended to significantly crash BTC price, and be matched with a 10x leveraged short to capitalize on this.
Simultaneously, Wright planned to throttle network hash, rejecting all transactions other than “unrecognised SegWit TXs to miners and our own Exchange TXs.”
This was to occur via the addition of 51% of network hash-power prior to the price crash, although no further details of how this would be achieved were given.
Computer says ‘no’
As Cointelegraph reported, Bitcoin’s third halving event happened as scheduled, with the only untoward outcome so far being YouTube pulling the plug on our livestream party and a bunch of vaguely underwhelmed hodlers.
The hash rate has so far been relatively unaffected, and unless Wright was behind the weekend’s Bitcoin price drop, then we can only assume that the halving he’s planning on hatching the scheme at is the one due in 2024.
Looks like everyone can breathe easy again… for another four years at least.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.