Self-proclaimed Satoshi Nakamoto hits out at Ethereum (ETH) calling the blockchain for bucket shops and that has no chance of scaling. He says that in a lengthy document that has been submitted to the Commodity Futures Trading Commission (CFTC).
In December 2018, CFTC asked the public regarding Ethereum to understand more about the technology, market and the projects that Ethereum supports. In response to the request, Craig Wright submits a lengthy document attacking Etherum (ETH).
According to Financial Magnates, Wright’s document was submitted on the last day and was most probably written in a hurry.
The document begins with Craig Wright proclaiming that he created Bitcoin and launched the first cryptocurrency as a means of trading without an extensive array of traditional, back-end trading processes. He also adds that he created Bitcoin to not be anti-regulation.
Craig Wright then goes to attack the system at every level. From calling it a rip-off of Bitcoin, and also alleges that Ethereum can never scale upwards.
“This network has already hit its limit and is effectively only being used to raise capital using illegal bucket shops that are designed in such a way that they can deceive nontechnical parties,” wrote Wright. “No technology released within Ethereum for the provision of computation or ICOs has been created that did not exist prior and in a more effective manner before this network was launched.”
Craig Wright attacks Ethereum from time to time. Vitalik Buterin, creator of Ethereum, has called Craig Wright a “fraud”.
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