If you have been following the drama surrounding Craig S. Wright recently, you might be a tad confused. Why is he suing those who say he is not the real Satoshi Nakamoto? Surely one of the great features of Cryptocurrency is the ability to remain anonymous, isn’t it? Moreover, if the creator of Bitcoin wanted recognition, why not use his real name from day one?
Who Is Satoshi Nakamoto?
So if Craig Wright did indeed create Bitcoin under a pseudonym, why is it so important to Craig S. Wright that an anonymous twitter user ‘Hodinaut’ , amongst a myriad of others, claims that he isn’t the legendary Satoshi Nakamoto, and ipso facto didn’t invent bitcoin? Does that not seem to be a little bit hypocritical?
It is convention surely that no matter how brazen their behaviour, the superhero never actually admits to their real identity. Where would we all be if Clarke Kent admitted he were Superman?
A First in Cryptocurrency
So what we have here must be a first in the world of cryptocurrency. An anonymous individual is being sued by the lawyers of a previously anonymous individual for outing them as being a fake. If you think that’s ridiculous, so does the Bitcoin community. Some are lining up behind ‘Hodinaut’ with crowd funding to pay his or her legal fees,. The #WeAreAllHodlnaut Twitter campaign has also resulted in many bitcoiners changing their twitter names also to ‘Hodinaut’. This is a case of will the real Spartacus please raise their hand – they want to crucify you.
Although this silly chain of events is rather amusing, it fuels criticism from the anti-crypto community. Moreover several crypto exchanges are delisting Bitcoin SV, including Binance, Shapeshift, Satowallet, and Bittylicious. Some large wallet providers have conducted twitter polls to ask users whether to delist Bitcoin SV or not. The the yes camp are well ahead, so further delistings are possible.
Social Media Sentiment Affects Prices
Not surprisingly, when news broke of these delistings the price of BSV fell over 20 percent within 24 hours. BSV was the only top 25 crypto asset by market capitalisation to be in the red during the same period. These falls were fuelled by extreme negative social media sentiment.
So what should holders of Bitcoin SV do with their holdings? Crypto investors typically want to invest in digital currencies that have a positive medium to long-term outlook. Moreover, they are looking for assets with high liquidity so that they can enter and exit large positions. These are key criteria in our selection of cryptocurrencies that our Crypto Sentiment Alerts Tool track. Our list of coins that are tracked include Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin Gold (BTG). Bitcoin SV holders who are transferring their holdings to other coins would benefit from analysing social media sentiment when doing so. Our service allows users to define sentiment alerts against the coins that they’re following and can help you make the right trading decisions.
Meanwhile, if the real Satoshi Nakamoto does go public, I hope he gets the recognition he deserves from #WeAreAllHodlnaut!
Also published on Medium.