The anonymous Bitcoin.org and Bitcointalk.org creator, who goes by the name of “Cobra” on Twitter, recently shared his controversial views and complete lack of faith in the cryptocurrency projects Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (BSV).
According to the controversial figurehead, Bitcoin Cash is a complete failure with no real leadership or purpose. He further stated that the crypto will be worth zero dollars in a few years.
This bold prediction may not be too far out there. Previous years have seen the most popular and reputable altcoins with substantial trading volume eventually fade away to nothing for the reasons pointed out by Cobra in his tweet above.
Some once-famous cryptos now considered to be dead include Peercoin, Namecoin, Bitshares, and Feathercoin. All these projects were once very promising and dominated the scene, ranking in the top 10 by market capitalization.
However, just as Cobra points out, these coins are now trading near zero because they lacked direction and proper leadership. Cobra believes Bitcoin Cash suffers from the same problems as those “dead coins” and this will be evident soon enough.
Cobra received some backlash for his words. One follower questioned why BCH needs new leadership, stating that Bitcoin doesn’t need leadership, as that’s part of its whole purpose.
Cobra responded by reminding followers that Bitcoin Cash is not Bitcoin, stating that Bitcoin’s (BTC) longevity and solidity make leadership unnecessary.
However, other altcoins like Bitcoin Cash (BCH) that don’t hold the same reputation and longevity as Bitcoin need a solid team, developers, and a leader to push the project forward in the right direction.
Cobra’s tweets about BCH being dead are not his first controversial words.
The anonymous entrepreneur had previously denounced Bitcoin Satoshi Vision (BSV) as a worthless shitcoin. His disdain for the project can be attributed to the self-proclaimed “Satoshi Nakamoto” and BSV creator, Craig Wright.
Not only does Cobra disapprove of Craig Wright, but he also dislikes the BSV project in general, stating that it was birthed from the incompetent leadership of Bitcoin Cash.
BSV was created on November 15, 2018 as the result of a controversial hard fork that later sent Bitcoin Cash’s price spiraling downward. Following the fork, the 2 crypto projects BCH and BSV were in a war for hash power.
Both projects were mining at substantial losses in order to become more secure than the other, with a longer blockchain. Though Bitcoin Cash seemingly won the hash war, its price was very negatively affected.
Back in December while the effects of the hash war were going on, Cobra sent out another tweet denouncing Bitcoin Cash’s incompetent leadership.
At the time of writing, Bitcoin Cash is trading at $123, and prior to its hard fork the cryptocurrency was trading around $440 before crashing to a low of under $80.
It’s evident that the BCH hard fork had drastic effects on Bitcoin Cash. and Cobra may be right to think that their leadership is indeed incompetent.
What do you think of Bitcoin Cash and Bitcoin SV? Are these projects doomed to fail, or will they offer a use case that no other cryptocurrency does?
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