Craig Wright
Bitcoin strategy is a ‘betrayal’
Published
1 month agoon
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adminCraig Wright, the controversial figure who claims to be Bitcoin’s creator, lashed out at Michael Saylor, co-founder of MicroStrategy, accusing him of distorting the true essence of Bitcoin.
Wright’s condemnation comes on the heels of Saylor’s announcing that he wants to turn MicroStrategy into a merchant bank for Bitcoin (BTC).
In a blistering critique, posted to X on Oct. 12, Wright said Bitcoin “has been distorted, manipulated, and centralized—now incapable of facilitating simple transactions without the intervention of intermediaries.”
Wright directed his ire at Saylor specifically for “building a so-called ‘Bitcoin bank’ to serve as the very obstacle that Bitcoin was designed to eliminate.”
Saylor recently told Bernstein analysts that MicroStrategy is “a Bitcoin finance company” and that the goal is to amass $150 billion In Bitcoin holdings. The Tysons Corner, Virginia-based company is the largest corporate Bitcoin holder globally.
“This is not innovation,” Wright said. “This is the betrayal of the principles Bitcoin was built upon.” See the full statement below.
Saylor vs. Wright
Wright’s criticism comes at a time when Saylor is positioning MicroStrategy as a major BTC holder and an advocate for Bitcoin as “digital gold.”
Wright, however, suggests that Saylor’s strategy distorts Bitcoin’s original purpose. He continues:
“To call BTC ‘Bitcoin’ while simultaneously profiting from the very middleman role that true Bitcoin rejects is the height of deception, and it is through this misrepresentation that Saylor seeks to build his empire.”
This critique reflects a broader, ongoing debate within the cryptocurrency community about the true vision of Bitcoin. While Saylor is seen by many as a key figure in bringing institutional attention to BTC, Wright and others claim that BTC has strayed from Bitcoin’s original goals, particularly regarding scalability and transaction fees.
Wright’s condemnation is sure to ignite further discussions, as the rift between different factions of the Bitcoin community—particularly BTC and Bitcoin SV proponents—continues to deepen.
Bitcoin SV is a cryptocurrency that originated from a hard fork of Bitcoin Cash (BCH) in November 2018.
Saylor has been an outspoken advocate for Bitcoin as a long-term investment, buying billions of dollars worth of BTC through MicroStrategy. He views Bitcoin as a hedge against inflation and a store of value, similar to gold.
Wright, on the other hand, insists that Bitcoin was not meant to be a store of wealth.
Satoshi claims
Wright isn’t without controversy in his own right. His claim that he is Satoshi Nakamoto, Bitcoin’s pseudonymous creator, remains a point of contention and skepticism within the wider cryptocurrency community.
A new documentary from HBO on Satoshi Nakamoto seemingly raised the possibility of Bitcoin developer Peter Todd as the cryptocurrency’s creator.
Todd denied that he’s Satoshi on X.com.
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Craig Wright Faces Contempt Charges After Suing Block
Published
3 weeks agoon
November 1, 2024By
adminAustralian computer scientist and self-described Bitcoin founder Craig Wright has taken to the courts once again, this time filing a $1.18 billion lawsuit against Block, a payment company owned by Jack Dorsey.
Wright – who spuriously claims to be Satoshi Nakamoto – is accused of contempt of court by the Crypto Open Patent Alliance – COPA. It is the same group that, earlier this year, provided “overwhelming” evidence Wright did not invent Bitcoin.
“Faketoshi” Craig Wright Held in Contempt Again
An Australian computer scientist Craig Wright, who has said he invented Bitcoin, is accused of contempt of court on Friday. He filed a $1.18B lawsuit against Block, the company founded by Twitter co-founder Jack Dorsey, in a British court.
Wright insists that he authored the original, 16 years old Bitcoin whitepaper, a work published under the pseudonym “Satoshi Nakamoto.” However, the court ruled that there was “overwhelming evidence” showing that Wright didn’t write the foundational 2008 document.
The Crypto Open Patent Alliance sued Craig Wright to prevent him from suing Bitcoin developers. Following a weeklong trial at London’s High Court, a judge ruled in May that Wright had lied “extensively and repeatedly.” The court also ruled Wright forged documents “on a grand scale.”
In July, the judge referred Wright to Britain’s Crown Prosecution Service to decide whether he should be put under perjury charges. The court also issued an injunction against Wright from initiating any legal action based on his claim to be Satoshi.
Denying the Document Forgery
Craig Wright is appealing a decision of the High Court. It found him to have lied and forged documents purporting his claim to be the creator of Bitcoin. A decision as to whether he will be allowed an appeal has yet to be decided.
In his testimony in February, Mr Wright denied the forgery of the documents. However, during a preliminary hearing on Friday, the COPA lawyer, Jonathan Hough, said that Wright breached the court’s injunction by filing a lawsuit against Square Up Europe Limited, a Block subsidiary, earlier this month. Wright attended the hearing via videolink from Singapore and didn’t have legal representative.
Craig Wright has said that he doesn’t believe he is in contempt of court over the Block case. He indicated that he would amend his lawsuit, if found in contempt, to make clear it has “nothing to do with the ownership of the creation of the system.” Whether Wright was in contempt will be clear at a hearing set for December. In the meantime, his suit against Block will stay active until then.
Teuta
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Cardano Founder Charles Hoskinson Calls Out Craig Wright Amid Recent Lawsuit
Published
1 month agoon
October 13, 2024By
adminCardano’s founder, Charles Hoskinson, did not hold back his criticism following Craig Wright’s latest legal maneuver—a colossal £911 billion lawsuit against Bitcoin Core and Square.
Hoskinson, a well-known figure in the crypto space, expressed frustration over Wright’s ongoing legal actions. He questioned why authorities continue to permit such legal maneuvers. He also suggested that Wright’s persistent lawsuits reflect an abuse of the legal system. This is fueled by what he sees as baseless claims and delusional behavior.
Charles Hoskinson Calls Out Craig Wright Amid Recent Lawsuit
Cardano founder Charles Hoskinson has unleashed Craig Wright’s latest legal salvo, a gargantuan £911 billion ($1,2 trillion) lawsuit filed against Bitcoin Core and Square in particular.
According to the CaseBoard, Wright has filed a giant claim amounting to some £911 billion for “falsely representing that Bitcoin Core Vision/BTC is the original Bitcoin.” The controversial figure continues to claim to be the true inventor of Bitcoin despite continuous disputes and skepticism.
Charles Hoskinson even shared his frustration on Twitter, wondering why Wright wasn’t in prison for “abusing the legal system” through what he labeled as “fantasies and sociopathic delusions”. This happened after Wright filed a lawsuit for £911 billion. This aggressive critique underlines general aversion toward Wright’s controversial legal practices.
A Long-Running Crypto Battle: Hoskinson vs. Wright
The self-proclaimed Satoshi claims those aforementioned entities have misrepresented BTC as Bitcoin’s originator. As one of the more outspoken people in the crypto space, Charles Hoskinson questioned aloud why regulators allowed Wright to continue abusing the courts.
The clash between the controversial entrepreneur and Cardano’s founder has a long history. Last year, Wright was highly critical of Hoskinson and the Cardano project. He accused him of misleading the community and questioning his contributions to the space.
Resistance to Wright’s claims extends across the crypto industry. Hoskinson, therefore, expressed doubts about Wright being Satoshi. He cited differences in knowledge, character, communication style, and a focus on patents that needed to align with Satoshi’s principles.
Hoskinson’s comments reflect a general frustration within the industry at Wright’s contentious history of lawsuits and controversy over his claims. They add to the continuing debate on the question of Wright’s legitimacy and motives.
The Real Satoshi is Still Undiscovered After All
Finally, after a series of rumors, HBO came forward with the mysterious Satoshi Nakamoto, the one behind Bitcoin-Peter Todd. Since he is prominent in the field of cryptography and has frequently commented on Bitcoin developments, several debates were sparked.
During such talk, Todd quickly denied all such claims about him being the founder through his social media accounts.
Earlier, Len Sassaman had also come in focus of Polymarket punters as the real Satoshi Nakamoto in charge of Bitcoin. However, even that has been proved a false alarm.
Since these assumptions have turned out to be pretty wrong, these suppositions bring the crypto community and Charles Hoskinson for that matter – no closer to an answer. Satoshi’s identity, therefore, remains one of the biggest unsolved mysteries that has kept crypto enthusiasts guessing.
Teuta
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Craig Wright
HBO Is Joining Search for Bitcoin's Satoshi. Past Attempts Haven’t Turned Out Great.
Published
2 months agoon
October 6, 2024By
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