Today once again, there’s a lot of news on the daily news front. So let’s get into them. Now if you’ve been looking at the charts, you’re probably aware that Bitcoin SV has increased like crazy. It still is as well. A primary reason for this is that Craig Wright to so-called self-proclaimed Satoshi Nakamoto has copyrighted the Bitcoin Whitepaper and software with the US Copyright Office. The office recognized Wright as the author, making it the first Government Agency to do this. Next up Weiss Ratings places Cardano, the ADA token as one of the most effective and profitable blockchain platforms. Definitely very interesting considering Shelley is also coming in the fourth quarter in 2019. And the last news item JPMorgan once said Bitcoin is a Scam. Now JP Morgan representatives say that it has intrinsic value. Talk about a change in opinion guys! Now please make sure you stay right until the very end if you want to hear about JPMorgan’s change of heart and hand.
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The Market Today
Moving onto the Charts. As you can see on CoinMarketCap, there are primarily greens in the market. Bitcoin has increased by 0.40%, Ethereum by 1.84%, and XRP by 1.10%. Special mentions to Binance Coin, which actually increased by 8.85%. Now moving onto the top 20, while the trend has remained quite the same you can see a ridiculously high increase for Bitcoin SV, I mean 68.64%? That is just crazy! I just have to show you this visual right here because I’m personally still gobsmacked by this increase, which is something I’m going to hop in and explain right away.
Craig Wright has just copyrighted the Bitcoin Whitepaper and software!
It led to that crazy increase in Bitcoin SV. Now is Craig Wright the Satoshi Nakamoto? A lot of people don’t think so. And these include Vitalik Buteri, the co-founder of Ethereum and Charlie Lee, the co-founder of Litecoin, and to be honest, most of the majority of the cryptocurrency community.
Craig Wright is, without doubt, one of the most controversial figures in the cryptocurrency community, who had his stance on being Satoshi Nakamoto validated after he was granted copyright claims to the original Bitcoin Whitepaper and software Code.
According to the US Copyright Office, Wright’s claim was registered on May 20. There was a copyright on the Bitcoin Whitepaper titled: “Bitcoin: A Peer-to-Peer Electronic Cash System” and the other copyright was for Bitcoin the cryptocurrency’s code.
CoinGeek, a news source that’s quite biased and sympathetic towards Wright’s views mentioned that:
“Wright is now legally establishing that he is Bitcoin’s creator after being dismayed to see his original Bitcoin design bastardized by protocol developer groups first by Bitcoin Core in 2017 and then again by bitcoin Cash developers in 2018.”
So how did everyone react towards this? Some were mad, while some reacted in amusement, and it was quickly established that anyone can register a copyright with the US Copyright Office as it only involves filing a form. Since the Copyright Office doesn’t actually investigate how valid the claims are Craig Wright’s claims, have almost zero legal weight. Unfortunately, false copyright registration doesn’t really have much action. But it’s good to see that they don’t hold too much weight. While Wright’s recent stunt may have given BSV a temporary price spike, many believe that it won’t pay off in the long-run.
Weiss Ratings places Cardano as one of the most effective and profitable blockchain platforms.
According to Crypto Economy, Weiss Ratings has applauded Cardano for not only having the best blockchain project but for also having the cheapest coin.
If we look at it comparatively, Weiss noted that not only is Cardano’s ADA token the cheapest coins in the cryptocurrency sector, but its project is one of the best in the market, especially since it takes a very research-driven approach towards Blockchain technology. Cardano is currently ranking 10th on CoinMarketcap.
While this is definitely positive news for the token, there are many in the community who have expressed mixed responses to the situation, Some agree and are happy that the organization pays attention to the technical aspects concerning blockchain technology. While others say that the project is only good in theory and on paper. We have to give Charles Hoskinson some credit though guys. He has done a lot to get Cardano to where it is now, promoting the project in Africa, signing a partnership with the Ethiopian Government. In saying this, there were some issues concerning internal disputes, but it looks like Cardano has bounced back.
JP Morgan Said Bitcoin Is a Scam, Now Reports About Its “Intrinsic Value”
JP Morgan has had a change of heart. Back in 2017, Jamie Dimon, the CEO mentioned that Bitcoin was a scam, stating that it has no value and he took on such a critical position against Bitcoin.
But then surprise, surprise JP Morgan then launched their JPM token later. And now JP Morgan has even stated that Bitcoin has soared past what they have calculated to be its intrinsic value. For JPMorgan strategists Nikolaos Panigirtzoglou and his colleagues to say that Bitcoin has intrinsic value, that’s pretty big for JP Morgan, going from hey Bitcoin is a scam it has no value to, it has shot past its intrinsic value. Pompliano has shed some thoughts on this situation, and I love it how as you can see on his tweet, his conclusions are simply. Never listen to what a bank says. Watch what they do.
So that’s a wrap guys. Lots of juicy news today.
What is everybody thinking?
What do you think about Craig Wright’s copyright claim to Bitcoin technology and the Whitepaper? Are you a fan of Cardano and do you think ADA is a worthy asset? And finally, what is up with JP Morgan, do you think they are still haters or now a bit more open to the idea of Bitcoin? Let me know your deepest thoughts! Once again, make sure you comment, like and subscribe to go in the draw to win $70 worth of Ripple’s XRP. It’s Cindy with CryptoPig, Catch you guys around!
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.