Calvin Ayre, founder of Bitcoin Cash and leading figure of the newly formed fork BTC Satoshi Vision, says the real bitcoin, the bellwether cryptocurrency will become worthless in 2019.
In an interview with Express.co.uk, he said:
“I’m afraid I am predicting it to go to zero value as it has no utility, it does not do anything and they intentionally are anti-scaling. “Bitcoin, the technology and economic model, are alive and well with Bitcoin SV (Satoshi Vision) and is going to have an amazing year.”
The BCH ecosystem was split into two parts on November 15th, the Bitcoin SV and Bitcoin ABC implementations. One side (BSV), lead by Ayre and Craig Wright wanted to reactivate many aspects of the original Bitcoin code and increase the block size to 128 MB. The other (BCH) wanted larger blocks in principle, but rejected radical changes. At first, both factions wanted to claim the name “Bitcoin Cash” for themselves, but after about a week, Bitcoin SV gave up and left the name and ticker symbol “BCH” to the other side.
The ABC (Adjustable Blocksize Cap) breakaway was led by Roger Ver and Jihan Wu of Bitmain.
Apparently Bitmain, the world’s largest mining company and perhaps the most important supporter of BCH, is in financial difficulties. According to BTCKING555, a well-known Bitmain critic on Twitter, the company made a loss of 740 million US dollars in the third quarter of this year. The company had accumulated large quantities of BCH when the price was significantly higher.
“The hard fork was a distraction but the downturn is because the SegWit coin that’s erroneously still called ‘bitcoin’ now follows the old-fashioned financial trends.
“It’s also because people wrongly focus on market cap when it should be about scalability and actual usability.
“Bitcoin SV is a currency, not an asset just to be held, and has real utility.
“That said, there is no question that the hash dumping that the ABC conspirators did, in violation of the Nakamoto Consensus Rules that run bitcoin, destabilised the markets even more.”
As for self-proclaimed Satoshi Nakamoto, Craig Wright’s thoughts, he is pretty clear on the question of ‘is bitcoin finished?’.
“BTC is, but it is a sham bitcoin.
“SV is what bitcoin was and is the only way it works.”