Monday, December 6

The trial of the man who claims to be the creator of Bitcoin

Anyone who follows the cryptocurrency market is sure to know the name of Craig S. Wright, known to many as “Faketoshi”. He claims to be the creator of Bitcoin, Satoshi Nakamoto, and has been trying to prove it for the past few years, including with a court battle. The trial, which began this week in a Miami court, could either grant Wright the validation he is looking for, or again expose him as a fraud.

The legal battle is a bit tricky to understand and actually it’s not trying to prove or disprove that Craig is Satoshi Nakamoto, actually, both sides argue that Craig is the creator of Bitcoin. From the world that Craig Wright started claiming he was Satoshi, Dave Kleiman’s family, who has now passed away, started claiming that Dave helped create the cryptocurrency and that is why he is entitled to half of the bitcoins mined by Satoshi.

Satoshi’s famous coins are the bitcoins that the creator collected during the early years of digital currency, estimates suggest that Satoshi’s addresses could contain between 800,000 and 1.1 million coins, a veritable fortune. Since Satoshi disappeared from the cryptomarket, these addresses have been dormant.

Fake Toshi

Depending on how the case progresses in court, Craig Wright will be required to access these wallets, particularly if the judge determines that Kleiman’s family is entitled to half of the bitcoins held. Only Satoshi has access to these coins, and Wright will only have two options: Access bitcoins and prove once and for all that he is Satoshi, or prove that he doesn’t have access to these wallets and turns out to be a fraud.

For Craig Wright to prove he’s Satoshi would be pretty easy, just move a small amount of the addresses we know to be the creator of Bitcoin, sign a transaction using Nakamoto’s public key, and many other ways.

But he’s always chosen the most complicated ways to prove it, like having falsified documents in court battles and plagiarizing his doctoral thesis, which makes it pretty hard to believe anything he claims.

BRL 381 billion in Bitcoin

The website Sydney Morning Herald pointed out that one of the Kleiman family statements that “proves” that they both worked together in bitcoin is that in 2009, Dave told his wife he was working on something “bigger than Bitcoin” and showed her a logo with a B and two scratches, the now famous Bitcoin logo.

However, for those with no short memory, the first Bitcoin logo chosen by Satoshi was a BC on a simple golden coin. The ฿ we know today only appeared in 2010 and was chosen by the community in the currency development forums and with its final version only in 2011.

That is, even the case for Kleiman’s side has different holes that contradict the Bitcoin story that is public on the internet.

The trial is expected to last three weeks.