As Bitcoin Cash hardfork goes live, the tensions have continued to rise with one of the parties, BCH/SV threatening to send major cryptocurrency, Bitcoin to rock bottom.
In a tweet posted by controversial BCH figure, Craig Wright on Nov 14, he promised to sell off the largest volumes of BTC which he holds to finance his Bitcoin Cash ambition.
To all BTC miners…
If you switch to mine BCH, we may need to fund this with BTC, if we do, we sell for USD and, well… we think BTC market has no room… it tanks.
Think about it. We will sell A Lot!
Consider that….
And, have a nice day(BTC to 1000 does not phase me) pic.twitter.com/oUScEahtWc
— Dr Craig S Wright (@ProfFaustus) November 14, 2018
Wright who has labeled himself in the past as Satoshi Nakamoto said he would sell his BTC for USD if Bitcoin miners migrate from mining Bitcoin to mining BCH.
If such a situation were to occur, then Craig and his supporters are likely to have less hashing power than is required to split the Bitcoin Cash network or implement only the changes they are proposing.
Crypto Markets Could Plunge Deeper
Even though no one knows exactly how much of BTC Craig Wright holds at the moment, there is a big chance that he holds large chunks of it, but maybe not enough to send BTC crashing back to $1000.
In a follow-up tweet, he even brought up the thought of opposing party, Bitmain Founder Jihan Wu selling his BTC to support the quest for hashing power. BCH figure, Roger Fer has not declared his support for any of the parties but is being touted by Wright as another who could give up his BTC to support the hardfork.
Oh. And @JihanWu and @rogerkver selling… they will also have to sell BTC to pay rented hash.
If this is a long war… expect 2014 prices in BTC… think what that does…
Have a nice day
— Dr Craig S Wright (@ProfFaustus) November 14, 2018
At this point, the crypto markets are bleeding and will not need to shed more losses. We will hold our breath and wait for the outcome of BCH hardfork.
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