UK high court rules Australian computer scientist is not mysterious bitcoin founder as he claims (2024)
LONDON (AP) — Britain’s high court ruled Thursday that an Australian computer scientist is not, as he claimed, the mysterious creator of the bitcoin cryptocurrency.
Craig Wright has for eight years claimed that he was the man behind “Satoshi Nakamoto,” the pseudonym that masked the identity of the creator of bitcoin.
His claim was rejected by the Crypto Open Patent Alliance, or Copa, a non-profit group of technology and cryptocurrency firms, who brought the case to court.
In his ruling, Justice James Mellor said Wright did not invent bitcoin, was not the man behind Satoshi, or the author of the initial versions of the bitcoin software. Further explanation will emerge when Mellor’s written statement is published at a later date.
“Having considered all the evidence and submissions presented to me in this trial, I’ve reached the conclusion that the evidence is overwhelming,” he said, according to a court transcript.
During the trial, Copa claimed Wright had created an “elaborate false narrative” and forged documents to suggest he was Satoshi and had “terrorized” those who questioned him.
A spokesperson for Copa said Thursday’s decision is a “win for developers, for the entire open source community, and for the truth.”
“For over eight years, Dr. Wright and his financial backers have lied about his identity as Satoshi Nakamoto and used that lie to bully and intimidate developers in the bitcoin community,” the spokesperson added.
At stake was not just bragging rights to the creation of bitcoin, the world’s most popular virtual currency, but control of the intellectual property rights.
Wright has used his claim as bitcoin’s inventor to file litigation to drive developers away from further developing the open-source technology, the alliance claimed in their lawsuit. The ruling will clearly impact three pending lawsuits that Wright has filed based on his claim to having the intellectual property rights to bitcoin.
The murky origins of bitcoin date to the height of the financial crisis in 2008. A paper authored by a person or group using the Nakamoto pen name explained how digital currency could be sent around the world anonymously, without banks or national currencies. Nakamoto seemed to vanish three years later.
Speculation on the true identity swirled for years and the names of several candidates emerged when Wright first surfaced to claim the identity in 2016, only to quickly return to the shadows, saying he didn’t “have the courage” to provide more proof.
Bitcoin is the world’s most high-profile digital currency, and like others is not tied to any bank or government. Like cash, it allows users to spend and receive money anonymously, or mostly so. It can be converted to cash when deposited into accounts at prices set in online trading.
Supporters say it can be more trustworthy than traditional money, which can be vulnerable to the whims of those in power. Skeptics say their volatility has introduced a potential new risk to the global financial system, and fret about their potential to promote illicit activities and introduce uncertainty.
Despite occasional big wobbles, one bitcoin is now worth over $70,000, three times what it was worth just a year ago.
Thursday’s verdict is a relief to the crypto exchanges who have been rejecting the idea of Wright as Satoshi.
“Satoshi understood the value of decentralization and built bitcoin so that it could not be controlled by a single person or entity,” said a spokesperson for Kraken, one of the biggest exchanges. “We’re pleased the court recognized the overwhelming evidence that categorically settles that Wright is not Satoshi.”
LONDON (AP) — Britain's high court ruled Thursday that an Australian computer scientist is not, as he claimed, the mysterious creator of the bitcoin cryptocurrency. Craig Wright has for eight years claimed that he was the man behind “Satoshi Nakamoto
Satoshi Nakamoto
Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed Bitcoin, authored the Bitcoin white paper, and created and deployed Bitcoin's original reference implementation.
https://en.wikipedia.org › wiki › Satoshi_Nakamoto
In the emails, he alluded to the possibility of resuscitating Nakamoto, who disappeared after revealing the existence of Bitcoin, to make a case for the cryptocurrency. "Would our Japanese friend have weight coming out of retirement or not?" he wrote.
For years, Craig Steven Wright, an Australian cryptocurrency enthusiast, claimed to be Satoshi Nakamoto, the mysterious creator of Bitcoin. Then the courts got involved.
Satoshi Nakamoto created Bitcoin in 2009. The name "Satoshi Nakamoto" is the pseudonym for the person or people who introduced the concept of Bitcoin in a 2008 paper. 1 Nakamoto remained active in the creation of Bitcoin and the blockchain until about 2010 but has not been heard from since.
The judge overseeing a legal battle about who invented Bitcoin has ruled that it is not Australian computer scientist Craig Wright. The question had been examined in a five week trial at the High Court. The judge, Mr Justice Mellor, made his ruling as soon as the proceedings had concluded.
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.
Since Bitcoin is an open-source, decentralised digital currency and blockchain technology, no one owns it. While Nakamoto played a central role in creating and releasing the initial Bitcoin software and white paper, they designed Bitcoin to be a decentralised and community-driven project from the outset.
Sam Bankman-Fried, founder and CEO of the collapsed cryptocurrency exchange FTX, late last week was convicted of all seven counts of fraud, money laundering and conspiracy to commit these crimes. Was he a criminal from the start, or did he get in over his head?
This is the story of one of the greatest crypto heists of all time. Secret bitcoin billionaire Jimmy Zhong lived a wild and crazy lifestyle — until he made a phone call that brought it all down.
Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed Bitcoin, authored the Bitcoin white paper, and created and deployed Bitcoin's original reference implementation.
A standout point was made by Spencer Schiff, a known Bitcoin promoter. Schiff emphasized that even if one were to entertain the idea that Bitcoin's creation had ties to the CIA – a claim that remains entirely speculative and unproven – it would not impact the cryptocurrency's current relevance and importance.
The anonymous creator of Bitcoin (BTC), who pseudonymously called themself Satoshi Nakamoto, disappeared 13 years ago. On Dec. 12, 2010, Nakamoto posted his last message on the Bitcointalk forum, stating, “There's more work to do on [denial-of-service] DoS. “
In a report released in 2020, crypto research firm Whale Alert had claimed that Nakamoto owns 1,125,150 Bitcoin mined up to block 54,316. At that time, the value of Nakamoto's fortune stood at $10.9 billion (roughly Rs. 90,345 crore). As of February 27, however, the same holding is worth $63.4 billion (roughly Rs.
Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions.
Craig Wright Is Not the Creator of Bitcoin. Dr. Craig Wright's claim to be Satoshi Nakamoto, the elusive creator of bitcoin and author of the bitcoin white paper, has been unequivocally dismissed by Mr. Justice Mellor of the English High Court.
The same day, Gizmodo published a story with evidence supposedly obtained by a hacker who broke into Wright's email accounts, claiming that Satoshi Nakamoto was a joint pseudonym for Wright and computer forensics analyst David Kleiman, who died in 2013.
Australian computer scientist Craig Wright lied “extensively and repeatedly” to courts and committed forgery “on a grand scale” in efforts to falsely claim that he invented Bitcoin, a judge at London's High Court ruled on Monday.
Craig Wright has adamantly proclaimed himself to be the founder, although a court found overwhelming evidence against his claims. Others think Nick Szabo, who created Bit Gold in 2008, is the real Nakamoto.
In Nakamoto's final message, there is a palpable sense of closure: “I had a few other things on my mind (as always) so, I moved on to other things.Now, It's in good hands with Gavin and everyone.”
Introduction: My name is Francesca Jacobs Ret, I am a innocent, super, beautiful, charming, lucky, gentle, clever person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
