Craig Wright Wins Lawsuit Forcing Bitcoin.Org to Pull Bitcoin’s Whitepaper

  • Self-proclaimed Satoshi, Craig Wright won a decisive lawsuit against Bitcoin.org on Monday.
  • The summary judgment means that the Bitcoin.org creator, Cøbra, will have to take down the Bitcoin whitepaper on his site.
  • Cøbra claims the lawsuit is reason enough why Bitcoin is needed.

After a year of lawsuits and court battles, Craig Wright, the self-proclaimed creator of Bitcoin, has finally had a small victory, beating Bitcoin.org in a whitepaper lawsuit on Monday. In a summary judgment by Judge Hodge QC, sitting as a Judge of the Chancery Division, Bitcoin.org creator, alias Cøbra, will have to pull down the Bitcoin whitepaper from its website and publish a copy the Court’s order on its website for at least 6 months.

By default, Craig Wright won the lawsuit after Cøbra chose not to mount a defense claiming it “is nonsense to fight with Craig” over Bitcoin’s whitepaper. ONTIER, the legal service provider for Wright, has previously claimed that they sent Bitcoin.org emails requesting they take down Bitcoin’s whitepaper from their website as it is “infringing Dr. Wright’s copyright.”

Additionally, Cøbra was also asked to pay Wright’s lawyer fees estimated to amount to £35,000, or $46,800.

Wright and his representative legal team accused Cøbra of using the whitepaper to raise funds for Bitcoin development with no accountability to the funds.

“Dr. Wright does not wish to restrict access to his White Paper,” wrote Ontier senior associate Simon Cohen on the ruling.

“However, he does not agree that it should be used by supporters and developers of alternative assets, such as Bitcoin Core, to promote or otherwise misrepresent those assets as being Bitcoin given that they do not support or align with the vision for Bitcoin as he set out in his White Paper.”

“Best advertisement for Bitcoin”

Shortly after the ruling, Cøbra took to Twitter to respond, claiming we are in a “system where ‘justice’ depends on who’s got the bigger wallet,” reflecting on Craig Wright’s win. Cøbra is a pseudonymous account, and questions were raised on whether he will follow the court’s ruling.

“If I refuse to comply with the order, it’s probable [that] UK ISP’s will be ordered to block [Bitcoin.org] for copyright infringement.”

In another tweet, Cøbra agreed to pay the fines (in Bitcoin) if Wright could provide an “early address,” presumably Satoshi’s. Trolling Wright’s team, Cøbra, wrote,

Cøbra further tweeted that the court’s ruling was reason enough to have Bitcoin created to decentralize control from those with ‘big wallets”. Calling Wright “a notorious liar” for repeatedly claiming he is Satoshi, he stated the current system would be better off if replaced by “rules enforced by cryptography.”

“I don’t think you could get a better advertisement of *why* Bitcoin is necessary than what happened today,” Cøbra tweeted.

“Rules enforced through cryptography are far more superior to rules based on whoever can spend hundreds of thousands of dollars in court.”

The fight started in January this year when Wright’s legal team sent letters asking bitcoin.org, bitcoin.com, and bitcoincore.org to remove the Bitcoin whitepaper from their websites citing intellectual property infringement laws.

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Author: Lujan Odera

Square’s COPA Takes Craig Wright to Court Over White Paper Copyright Claims

Controversial entrepreneur Craig Wright, known for publicly identifying himself as Satoshi Nakamoto, the Bitcoin inventor, is being sued by the Cryptocurrency Open Patent Alliance (COPA) over claims to his ownership of the Bitcoin white paper.

Craig Wright Sued by Square’s COPA

COPA, the cryptocurrency group committed to patent sharing and headed by payments firm Square, filed the lawsuit against Wright in a High Court based in the U.K.

The group asks the court to affirm that Wright does not own the Bitcoin white paper and the use of the white paper doesn’t infringe on any copyright held by Wright.

COPA is also seeking an injunction that would restrain Wright from ever claiming he authored the document. The group also asks for an order that would require him to foot the bill for disseminating information that he is not the owner.

The Bitcoin white paper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” was published by Satoshi Nakamoto under an MIT public license in 2008 and is distributed widely in many forms around the world.

Before this lawsuit, the Australian computer scientist who has claimed to be the pseudonymous Bitcoin inventor Satoshi Nakamoto since 2016 had sent out a cease-and-desist notice to Square. The notice sent through Wright’s representatives and dated January 21, 2021, had demanded that Square stop hosting the Bitcoin whitepaper on its site.

COPA had responded on Square’s behalf, demanding Wright to prove that he was indeed Satoshi Nakamoto, the whitepaper’s creator. Wright did not respond with the proof by the February 19 deadline set by COPA.

Square was not the only one Wright sent letters to as he gave the same cease-and-desist notice to Bitcoin developers, Bitcoin.org and Bitcoincore.org.

While Bitcoincore.org’s hastened to remove the white paper from the site, Bitcoin.org’s pseudonymous owner Cobra refused to do so, arguing that the Bitcoin whitepaper was published under the MIT license, allowing for free distribution.

The self-proclaimed Bitcoin investor claims ownership of the whitepaper because he filed a copyright claim in 2019 with the US Copyright Office for the original Bitcoin code and the BTC whitepaper.

However, simply filing a claim does not necessarily mean that the assignation of ownership is final.

COPA Representing Bitcoin Developers In Case Against Wright

Wright seems to have been the one blowing the legal trumpet by sending out notices through his representatives. However, it looks like his legal crusade has taken a twist with this lawsuit filed by COPA.

Now, COPA represents the Bitcoin community, particularly developers in the fight against the white paper publication. The group said,

“We stand in support of the Bitcoin developer community and the many others who’ve been threatened for hosting the White Paper.”

Established in September 2020 by Square to prevent patent trolling, the members include crypto exchanges Coinbase, Kraken, OKCoin, MicroStrategy, Blockstream, BitPay, among others.

Beyond the white paper, Wright has also previously filed a lawsuit demanding Bitcoin developers give him access to stolen Mt. Gox funds.

He had alleged that 110,000 bitcoin was stolen from him through wallets connected to the Mt. Gox hack. Through his law firm Ontier LLP, Wright wrote a letter addressed to Bitcoin Core contributors demanding them to give him access to two wallets even though they had no control over the network’s wallets.

According to Wright, the stolen wallets were linked to the hack that gulped 800,000 BTC from the world’s then most popular bitcoin exchange in 2014, Mt. Gox.

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Author: Jimmy Aki

Whale Alert Analysis Reveals Satoshi Stacked $10.9B Worth of Bitcoin (1.125M BTC)

Satoshi Nakamoto mined around 1,125,150 Bitcoin in the early days, according to a new on-chain analysis released by the Whale Alert. Based on the current market prices, the value of this BTC stash is an estimated $10.9 billion.

Whale Alert detailed, in a Medium post, how a miner dubbed ‘Patoshi,’ who is believed to be Satoshi, acquired this number of Bitcoins within a year given the mining activity could only be tracked up to May 2010.

According to Whale Alert, the anonymous Bitcoin network creator mined such a significant number of coins to prevent a 51% attack, which at the time was likely. The analytics firm further pegs its findings on research by Sergio Demian Lerner back in 2013, which was the first to coin the term ‘Patoshi’.

Lerner’s findings revealed that Satoshi had mined close to 1 million BTC, relying on a technique dubbed ”extra nonce’. Notably, this technique is visible in the early pattern of BTC mining and shows the first transaction link which saw Hal Finney receive the first coins in this network.

The ‘Patoshi Pattern’

Lerner went on to define the probable Satoshi mining as the ‘Patoshi Pattern.’ Whale Alert researchers have since been able to isolate most of the nonce patterns attributed to the Patoshi set, hence the latest Satoshi BTC stack update.

Based on the analysis, most of the early BTC mining was done by one individual whose mining software was more advanced than the industry standard back then. The chart below gives an impression of this situation as the straight lines represent normal mining while the ‘saw-like’ lines paint a picture of the Patoshi pattern:

Source; Whale Alert

Whale Alert also learned from this pattern that Patoshi made adjustments on the block time to maintain an average of 0.6 blocks in every 10 minutes. He also kept a steady hashrate by controlling 60% of the processing power in efforts to prevent a 51% attack.

This was, however, reduced to 1 block in 10 minutes as more miners joined the BTC network in order to give them an opportunity to mine as well. As per Whale Alert’s findings, 48 computers supported this operation with one of these designed to coordinate the entire process.

Will Satoshi Liquidate the position?

Most analysts have said that Satoshi stopped mining at block 54,316, with 22,503 being mined by the Bitcoin creator. While this may not be the true position, there seems to be a consensus on the fact that Satoshi indeed holds a significant number of Bitcoins.

That said, the possibility of liquidation cannot be ruled out given these coins were not burned and have been in recent projects borrowing from Bitcoin’s decentralized architecture. Whale Alert now suggests that it unlikely that Satoshi will sell his Bitcoins since the initial accumulation was solely for network fundamentals and not financial gain:

“The timing of the shutdown, the mining behavior, the systematic decrease in mining speed, and the lack of spending strongly suggest that Satoshi was only interested in growing and protecting the young network. The bitcoin mined by Patoshi was possibly a mere byproduct of these efforts, and it is unlikely that the remainder will ever be spent, although the question remains why Satoshi didn’t simply burn them in this case.”

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Author: Edwin Munyui

Mt. Gox Victims Can Now Sue Craig Wright for their Losses

Craig Wright, the self-proclaimed Satoshi Nakamoto — the pseudonymous creator of Bitcoin is now claiming that he was the hacker of bitcoin exchange Mt. Gox in 2011, which resulted in the loss of 79,956 BTC, today worth over $750 million.

A letter sent by Wright’s law firm SCA Ontier to Blockstream on June 12, 2020, alleges that he has control over the two mentioned bitcoin addresses. One of them is the one that received the stolen BTC from Mt.Gox.

“Just so we’re clear, Craig Wright has just openly admitted (via his lawyers) to be the guy that stole 80k BTC from Mtgox. The screenshots below show the court documents indicating the “1Feex” address is where the stolen Mtgox funds were sent,” said Monero developer Riccardo Spagni.

Mt. Gox CEO Mark Karpeles also confirmed this. Recently, Japan’s high court upheld a lower court’s decision that he was guilty of manipulating electronic data in this hack but not embezzlement which he called “unfortunate.”

“The 1Feex address contains ~80k BTC stolen from MtGox in March 2011. Craig Wright is claiming to have been in control of this address until recently, admitting legal liability for damages and interest?” said Kareples.

The bitcoin address contains 79,956.55 BTC which are currently unspent. This is not even the first time that Craig tried to claim the Mt.Gox hack addresses as his own. Back in 2018, bitcoin security firm Wizsec debunked it in its report “Kleiman v Craig Wright: The bitcoins that never were.”

According to Wright’s lawyer’s letter, the encrypted file and related information of these addresses were stolen during a hack on Wright’s computer in February 2020.

And they want Blockstream “responsible for the Bitcoin Core blockchain” to do something about it because they “have duties in relation to transactions on that blockchain in circumstances where you have notice of the interests involved, including in particular avoiding illegitimate transactions being entered on the blockchain.”

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Author: AnTy

Billion-Dollar Craig Wright- Dave Kleiman Case Moves To Court In July; 1.1 Million BTC at Stake

  • The famous “one million Bitcoin” case between self-proclaimed Satoshi Nakamoto, Craig Wright, and Ira Kleiman, brother to deceased, Dave Kleiman, is finally set for trial starting July 6.
  • However, the court is extending the deadline till July 3rd, 2020 for the parties to resolve their claims and present the resolution to court.

The long-running battle between Craig Wright and Kleiman’s estate is taking a swift turn to the courts after a two-year battle of the courts bore no resolutions.

According to the latter, Dave and Craig mined together a stash worth 1 million BTC (~$9 billion) and wished Craig, who has previously admitted to holding the private keys to this mega stash, to relinquish half the BTC the two mined.

However, Craig has come out strongly denying the claims; stating that he mined the whole stash of BTC alone.

On May 1, 2020, U.S Southern District of Florida judge, Reinhart Bloom, declared the trial date is set for July 6, with both legal teams announcing their readiness in participating in the trial.

The set trial will be held during the Court’s two-week trial calendar beginning on July 6, 2020, at 9:00 a.m. at the United States Courthouse, 400 North Miami, Avenue, Courtroom 10-2, Miami, Florida.

Dr Wright’s attorney, Andres Rivero, argues that his client is eager to prove in court his BTC stake.

Rivero further claimed the plaintiffs must be able to prove their 50% stake claim, given Dave and Craig were just friends, which did not entitle any case of sharing the mined BTC. He further said,

“It’s always possible for the cases to be delayed, they could be motions, more requests by the plaintiffs […] But we have opposed all the delays and we’ve always wanted to go to trial.”

A source from Kleiman’s legal team also showed their readiness in presenting evidence and witnesses in court come July 6, brushing off the claims that they were slowing down the process as “absurd.”

The statement from Roche Cyrulnik Freedman LLP, the firm representing Kleiman’s estate reads:

“Any comment that Plaintiffs are responsible for any delays to the trial date is absurd. As Judge Bloom found on January 10, 2020, Craig’s ‘antics and conduct delayed and obstructed the discovery process of this case, wasted valuable time and resources […] and prevented the Plaintiff from obtaining evidence.”

Despite the case moving onto a court date, Craig has yet to provide proof on the claimed 1.1 million BTC coins.

Earlier in the year, reports that the Tulip Trust documents containing the private key to the stash would arrive in a bounded courier never materialized. This led to Craig’s attorneys claiming he does not own the private keys to the coins.

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Author: Lujan Odera

Bitcoin SV (BSV) On Death Spiral As Miners Flee The Blockchain After Reward Halving

The mining of block #630,000 on the Bitcoin Satoshi Vision network, truncated to Bitcoin SV, on April 10th 0048 hours GMT, effectively cut the supply rate of the token by half. A miner mining any block from the halving time will receive 6.25 BSV – a fact that is affecting the overall state of mining on the network as miners escape to the more profitable Bitcoin blockchain.

BSV completes halving, miners in limbo

There has been a general consensus a halving is healthy for asset prices. This because of the assumption that reducing the reward would lead to a sense of scarcity for the asset. That being so, the rewards for mining each block are expected to drop by half as predicted. From 12.5BSV to 6.25BSV.

With the halving, the new daily output of BSV blocks jumps to 900. This means all of the current miners are competing for the same 900 blocks daily. At current prices, this would amount to $200k per day possible.

BSV currently trades at $191, a huge 12% dip from intraday highs shortly before the halving happened. This has raised the fears across the community and miners who have seen their profits cut by more than half –enticing most to switch coins or effectively shut down their miners.

C:UsersUSERDownloadscoin-dance-bitcoinsvprofitability.png
Source: Coin.Dance

According to Blockchair’s Bitcoin SV explorer, in the past 12 hours since the halving, only 24 blocks have been mined – a huge disparity from at least 72 blocks that should be mined. Currently its 70% more profitable to mine BTC than BSV.

Latest Bitcoin SV Blocks by Mining Pool
Source: Coin.Dance

Bitcoin Cash also halved completed halving on Wednesday

Notably, Bitcoin Cash (BCH) also underwent the halving event on Wednesday triggering a similar reaction from the miners and the market after the 630000 block was mined by Antpool. Their transaction per second rate tumbled from 116tps to 1.1tps. The mining profitability post halving also dipped to over 80% that of Bitcoin and with the mining difficulty not dropping led to a mass exodus of miners who are mainly profit-motivated.

This has spooked the community as consequently, the hash rate has dropped raising security concerns. A significant exodus of miners would leave the network vulnerable to a 51% attack meaning it wouldn’t be impossible for rogue actors to reach the 50% threshold required to fully control the network.

Bitcoin halving is expected to occur in 34 days from this writing May 13th 2020.

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Author: Lujan Odera

As Twitter Plans to Purge Inactive Crypto Accounts, Community Pushes for Memorialization of One Bitcoin User

Hal Finney received the first Bitcoin in a transaction from Satoshi Nakamoto himself. Jack Dorsey, who is in charge of Twitter, is a massive fan of Bitcoin.

Twitter is a massive social media platform, allowing millions of users to sign up for accounts to post to their friends, family, and other followers. Recently, the platform announced that all accounts that had no activity for at least six months would be purged, allowing usernames to be freed up that have been taken by inactive bots and other former users.

In this massive purge, it looks like there will be millions of accounts deleted, and one of the many accounts that stands to be lost is that of Hal Finney, a famous cryptographer that received the first Bitcoin from creator Satoshi Nakamoto. Finney passed away in 2014, though he continued to be involved with Bitcoin discussions throughout his long battle with ALS. His family chose to use the donations from the public on the preservation of his body by cryogenically freezing it.

Considering the history marked by Finney, it is possible that the Twitter CEO will make an exception in this massive cleanup. After all, Dorsey has continually been a proponent of Bitcoin who even developed his own team to work on contributing to the ecosystem of the coin. Furthermore, he purchases about $10,000 in Bitcoin nearly every week, and even believes that Bitcoin will end up being the currency of the world, so it would make sense for him to preserve these momentous tweets.

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Author: Krystle M

Why Satoshi Selected 21 Million as the Maximum Cap Supply of Bitcoin: A Timely Explanation

Satoshi Nakamoto, a pseudonym for the creator of Bitcoin, decided there will only be 21 million BTC coins ever to be mined. In an email published on Satoshi Nakamoto Institute addressed to Mike Hearn on why Satoshi selected 21 million as the cap, the unknown figure said the number is “an educated guess”. However, a number of investors and researchers have come forward to find a logical explanation as to why Satoshi chose that specific number.

The 21 million BTC Capped Supply

Bitcoin (BTC) capped supply at 21 million is both symbolic and calculated as explained by Sasha Fleyshman, a traders and analyst at Arca Traders, in a thread of tweets sent out on Aug 31. Well, as is with most research, there are general assumptions made in the theory proposed by Fleyshman.

Note: The average production time of a block is 10 minutes, but the difficulty adjustment, which happens every 2016 blocks (or 14 days) causes a deviation each side of the block producing time average.

A Timely Calculation

Bitcoin is math. Sasha calculates the 21 million cap as a factor of the blocks produced every hour, the halving effects on BTC rewards and the number of blocks each halving period.

Image

Image

Source: Sasha Fleyshman

As seen in the image above, the summation of the halving rewards till 2140 –the expected mining end date – that started off at 50BTC reward, then 25, then 12.5 etc. sums up to 100 (well tending to 100). Taking this number and multiplying it by the number of Bitcoin blocks mined before the halving of the BTC rewards – 210,000 BTC – you get 21 million BTC.

Sasha urges the Bitcoin community to continue learning more about Satoshi’s ideas on why he selected the number. He wrote on Twitter,

“Now, pulling on this string opens up a new line of questioning, of which I have no answer (as of yet); just theories. I think it is very important to question what you do not understand with #Bitcoin – the answer is not as important as the thought process.”

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Author: Lujan Odera

Calvin Ayre Claimed The Court Ruled Craig Wright Is Satoshi, Invented Bitcoin But Was Wrong

The controversial duo responsible for Bitcoin Satoshi Vision (BSV) has come under the fire of the crypto community once more. Calvin Ayre has claimed that his business partner Craig Wright has been proved in court to be Satoshi Nakamoto, the creator of Bitcoin. He lied.

This is just the most recent of the duo’s controversies. Craig has been on the spotlight since he affirmed that he was the creator of Bitcoin, which almost no one believed. Ayre is somewhat less controversial, but this time he made a mistake when he claimed that the judge ruled that Craig was Satoshi.

According to him, during the case in which Craig is being accused of stealing $10 billion worth of BTC from his late partner, the judge understood that Craig invented BTC. However, the judge has absolutely not said that in any moment of the judgment.

Crypto Twitter promptly attacked Ayre by affirming that this was not the truth. At the moment, it is unknown how Ayre came to this conclusion despite all the proof that this is not what happened.

The Bitcoin SV Fiasco

The reputation of both Ayre and Wright took a hit last year when they decided to hard fork from Bitcoin Cash (BCH) back in November and create their own token. BSV had a pretty rocky history since then and several problems.

At the moment, the token is considerably less valuable than BCH. BCH is the 4th largest token by market cap with the price of $294 per token and BSV is only the 9th largest one, with the price of $126 USD.

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Author: Nirmala Velupillai

Newly Proclaimed, Satoshi Nakamoto, Claims to Break the Silence by Revealing Themselves

It seems like a new unknown individual has proclaimed themselves as the creator of Bitcoin [BTC], Satoshi Nakamoto. Interestingly, the official reveal is expected to be made on Sunday August 18 at 4:00 PM EDT, where they plan to expose the reason for not having moved their 980,000 Bitcoins.

The blockchain company that shared “My Reveal” date is Satoshi Nakamoto Renaissance Holdings. Apparently, spokesperson for the proclaimed, real Satoshi, Ivy McLemore, spoke with news outlets and shared that the “break in his silence” will be done in three parts, adding that

“the truth will be known.”

So what types of information will be disclosed in the reveal? In addition to the unmoved BTCs, the individual plans to share more about themselves including their real name, where they were born, educational and professional background and the “rebirth of BTC,” with the latter having to do with a project called ‘Tabula Rasa’ – a clean-slate version of BTC.

Obviously, consumers can expect to learn more about the bitcoin creation process, with emphasis placed on the “Chaldean numerology” and the contributions made by cyphers and encryption.

The three parts will be delivered one after the other, that is, once the first has been completed, the second and third have been scheduled for the same times but on August 19 and 20 respectively.

Given said shocking claims, people are bound to naturally doubt its likes. An example of this is Litecoin’s Charlie Lee, as reported by Daily Hodl, who argued that if the real Satoshi really planned for a reveal, then he would have done so by “sign[ing] a message with the genesis key,” adding that,

“anything short of that is most likely fraudulent.”

August 18 was chosen as a symbolic move, as this was the initial date back in 2008 when bitcoin.org was registered. The revelation would commence as a way to celebrate the eleventh anniversary of bitcoin.org.

So the question is… With Satoshi reveal himself (not likely) or is this some big PR stunt by a blockchain company?

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Author: Nirmala Velupillai