Industry Analysis

Craig Wright’s $5K bounty on Hodlonaut’s head to cause havoc in the entire cryptocurrency community

The entire cryptocurrency community may be in for a rude shock after Craig Wright, a huge supporter of Bitcoin Satoshi Vision (Bitcoin SV), placed a $5K bounty on a Twitter user, Hodlonaut. The bounty will be paid in Bitcoin SV and will be given to any person who will reveal the real identity of the Twitter user.

Craig S. Wright claims that Hodlonaut, the person who started the Bitcoin lighting Torch, divulged defamatory tweets which included labeling him as a con. Since 2016, Wright has maintained that he is Satoshi Nakamoto, the anonymous Bitcoin creator. His claims have attracted criticism in the cryptocurrency community with Roger Ver being among those who highly doubt if Wright is Nakamoto.

Hodlonaut has since deleted all tweets and the account is deactivated. This prompted Wright to place a bounty on Hodlonaut’s head.

Notable individuals in the cryptocurrency circles have come out to defend Hodlonaut. One way they are doing this is by changing their Twitter account names and profile pictures to that of Hodlonaut. The change makes it even harder for those traversing the internet to find the real Hodlonaut and their real physical address.

But Wright’s demands are straight forward; Hodlonaut should publicly offer an apology plus withdraw, in court, the defamatory comments.

While the battle between Wright and Hodlonaut may seem like a minor misunderstanding, it has a huge impact on the entire cryptocurrency community plus those seeking to enter the cryptocurrency sector.

For example, most people involved or are seeking to invest in cryptocurrencies, will start alienating themselves from a particular community. Additionally, cryptocurrency prices may drop since they are generally driven by the vibe going around at any particular time.

With most Bitcoin SV supporters participating in the manhunt, it also will deter people from affiliating themselves with such a toxic cryptocurrency community. This will consequently affect Bitcoin SV’s adoption.

Will the bounty have negative effects on Bitcoin SV’s price and adoption?

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Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.