The current market downturn does not look like it is going to end anytime soon. On the contrary, Bitcoin (BTC) is yet to recover and reach, at the very least, the $4,000 threshold. It is disappointing after the world’s leading digital asset was worth almost $20,000 in January and $6,500 just a few weeks ago.

To be fair, the week has started off promisingly for Bitcoin holders: after days in the $3,200-$3,300 range, it has recovered 8.97 percent in the last 24 hours to reach $3,554.05. Other wounded cryptocurrencies, such as Ripple, Ethereum, EOS or Stellar, are also in greenin what seems to a bullish moment.

However, the cryptocurrency industry is still divided in two camps: those who think the cryptocurrency will swiftly recover to pre-crash levels, and those who believe that it will completely collapse. Calvin Ayre, a former Bitcoin Cash advocate, is on the latter group, at least according to his latest remarks.

Bitcoin is “Worthless”

He states that Bitcoin will collapse all the way to zero next year because it is “worthless.” However, he says, investors should not worry because Bitcoin SV (Satoshi Vision) will be there to pick up the pieces.

Although he does not have any proof, he thinks that right now, the price of Bitcoin is being deflated on purpose to push it out of the map. “Bitcoin — the technology and economic model — are alive and well with Bitcoin SV, and it is going to have an amazing year,” he stated.

Regarding the “original” Bitcoin (BTC), he provided an astonishing forecast: “I am predicting it to go to zero value [in 2019], as it has no utility,” Ayre told a famous British news site. “It does not do anything, and they intentionally are anti-scaling.”

Ayre calls the original currency an “impostor,” and expresses that Bitcoin SV is the real one. His partner in Bitcoin SV’s advocacy, Australian entrepreneur Craig Wright, strongly agrees, of course. “[BTC] is a sham Bitcoin. SV is what Bitcoin was, and is the only way it works.”

The polemical hard fork

Bitcoin SV is the result of a Bitcoin Cash fork(the other entity resulting from the split is Bitcoin ABC, or ‘AdjustableBlocksize Cap.) In turn, Bitcoin Cash was a fork of Bitcoin (BTC.) The current collapse came after BCH’s hard fork in the middle of November, and the market is yet to fully regain its feet.

However, Bitcoin SV’s pair warns investors and the crypto community not to think that the hard fork was an intentional attempt to negatively affect the industry, or Bitcoin: “(It) was a distraction, but the down turn is because the SegWit coin that is erroneously still called ‘Bitcoin’ now follows the old-fashioned financial trends. It is also because people wrongly focus onmarket cap, when it should be about scalability and actual usability,”according to Ayre.

Unsurprisingly, Ayre turned the blame on its rival camp, Bitcoin ABC. “There is no question that the hash dumping that the ABC conspirators did — in violation of the Nakamoto Consensus Rules that runBitcoin — destabilized the markets even more.”

By Andres Chavez

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