After ruining the cryptocurrency prices with the BCH hash wars where BTC worth millions of dollars are being spent daily where both the leaders of BCHABC and BCHSV are being criticized by the whole crypto community, ‘Faketoshi’ or Craig Wright who claims to be the real ‘Satoshi Nakamoto’ is back with his thoughts over Ripple’s XRP and ETH saying that the native token of the Ethereum Platform ETH is of no use anymore and the XRP token is an illegal security. He even mentioned that the XRP token violates the section 5 of the Securities Act 1933 and that the token shall only be offered on a registered securities exchange. He further called XRP the biggest scam in the cryptocurrency space. The following words were expressed by Craig Wright in a number of tweets:
Any use-case for ETH no longer exists following the confirmation by the @SEC_News on ICOs. All as I have been trying to say for years.
Next target, XRP. Another illegal unregistered security platform to take down.
— Dr Craig S Wright (@ProfFaustus) November 17, 2018
After expressing his thoughts over the zero utility of the ETH token, he talked about XRP and how XRP is surely a security which violates the securities act.
For XRP not to be a security, it will need to be a real utility offer. IF something is exchanged with expectations of profit, it is not a utility token.
XRP is a tradable good that is sold under the expectation of profit. That in itself makes it a security.
— Dr Craig S Wright (@ProfFaustus) November 18, 2018
XRP is going to be “found” to be both a security and in violation of Section 5 of the Securities Act of 1933. The Act mandates the registration of securities with the SEC. These must be offered exclusively on a registered exchange.https://t.co/5OPHuBz49e
— Dr Craig S Wright (@ProfFaustus) November 19, 2018
After a series of tweets, he called XRP the biggest scam and a non-registered security and calling the investors noobs or inexperienced people who just want to get rich by doing nothing.
XRP is the biggest scam in the space. I look forward to when this sham offer is revoked. This idea of issuing non-registered securities and selling to noobs who want to get rich without working is nothing new and neither will be the take-down.
— Dr Craig S Wright (@ProfFaustus) November 18, 2018
Again at the end, Craig stated that the term HODL is basically promoting a security and even included Bitcoin and ETH in the same.
If you sell any type of token implying that the purchaser will be able to sell them for more later. That this is a securities offering.
XRP, ETH, Bitcoin etc.
Not to be used, but to see a speculative gain.
If you promote this, (HODL) you are promoting a security
Licensed?
— Dr Craig S Wright (@ProfFaustus) November 19, 2018
The cryptocurrency market is experiencing the worst days of the year. At such a situation where all cryptocurrency enthusiasts should stand together to tackle the attacks, some gentlemen are fighting against each other rather than supporting. What do you think about Craig Wright’s thoughts over ETH and XRP? Tell us in the comments section below.
