Podcaster of ‘What Bitcoin Did’, Peter McCormack has recently revealed that he is being taken to court by Bitcoin SV’s Craig Wright. On Friday, May 31, 2019, McCormack took to Twitter to express the position he is currently in and what he has to do moving forward.
First, he revealed that RPC will be acting as defense on his behalf against Craig Wright, noting that the former is
“the best and most equipped UK firm to defend in cases of libel.” Later on, he expressed his financial concerns. In particular, he shared that he will only be able to cover part of the cost, insisting that he needs help and is “accepting the advice and support of everyone.”
Following this, McCormack plans to create a “trusted group of Bitcoiners” who will help him to decide how to raise the remaining funds needed to strengthen his end of the case, the types of currencies this fundraising will accept, along with other aspects including “management of funds, audit of funds and use of any surplus funds.”
With all that’s going on, McCormack, did not hold back, as he remains firm on the fact that there’s no way Craig Wright is “Satoshi”. Here’s as per his words:
5/ I do not believe Craig Wright is Satoshi. Further, his recent actions, statements and those of Calvin Ayre point to a coordinated and sustained attack on Bitcoin.
Some believe we should be ignoring him; personally, I feel this is dangerous.
Bitcoin SV is not Bitcoin.
— Dr. Peter McCormack (@PeterMcCormack) May 31, 2019
According to crypto news outlet, Craig Wright believes that McCormack’s goal has been to ruin both his and Bitcoin SV’s reputation, hence the initial reason for this lawsuit dated April 17, 2019. Given the reasons, McCormack should hold back his words, as it can work against him (i.e. the aforementioned tweet).
As per McCormack’s claims dated May 29, 2019, the initial defense cost can be anywhere between 25,000 and 50,000 pounds, adding that if this grows out of proportion, he can be sitting at anywhere between 500,000 and 750,000 pounds (which is roughly USD$884,000). He also stressed that if he loses the trial, then he will be left with a total sum of 1.5 million pounds in legal fees (approximately a little shy of USD$1.8 million).
Upon McCormack’s frequent updates on what’s going on, it seems like he has gotten the attention of Binance’s CZ, who has since offered to help with the podcaster’s costs by initiating a Binance Charity program. As seen below, CZ posted a mini survey of sorts in which 65% of voters have recorded that they will donate, with only 35% supporting Craig Wright.
CSW is picking on the people who have a hard time fronting their legal fees. How about we do a @BinanceBCF charity program to raise money from the community for legal fees for anyone CSW sues?@PeterMcCormack @rogerkver @jihanwu
— CZ Binance (@cz_binance) May 7, 2019
How do you think things will play out moving forward? Who will succeed, McCormack or Wright? Let us know in the comments below!