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Home / Business / Dr. Craig S. Wright appears in the US federal court, testifying that he is Satoshi Nakamoto

Dr. Craig S. Wright appears in the US federal court, testifying that he is Satoshi Nakamoto



Dr. Craig S. Wright, nChain chief scientist and man better known as Satoshi Nakamoto, was in the US federal court in West Palm Beach, Florida, where he is involved in a lawsuit dating from the time he worked with Dave Kleiman about what ultimately would become Bitcoin. The case was filed by Ira Kleiman on behalf of Dave Kleiman's property. When Friday's activities began, tomorrow's closing was closed to the public, but the court opened its doors in the afternoon for a demonstrable hearing on a discovery dispute over Ira Kleiman's claim that Wright should provide a list of "public address" for Bitcoin held by Wright on 31 December. December 2013.

Wright was more than willing to take the stand in an attempt to answer many questions that have been stuck throughout the Bitcoin ecosystem over the years. There was really no confusion in the industry when Wright was Satoshi; But those who protest that he is not, including groups involved in any kind of fraud, did just to confuse ordinary media, governments, and industry as a whole.

It was a historic day for Bitcoin. On Friday Wright claimed, under oath, that he was Satoshi Nakamoto. This received no objections from Kleiman's lawyers, and there was also no objection when Wright acknowledged that he wrote the Bitcoin White Paper. In his later cross-examination by Wright, Kleiman's lawyer referred to Wright as inventor of Bitcoin.

In a very emotional part of the testimony, Wright explained that he kept his Satoshi Nakamoto identity under wraps for several reasons, not least, how Bitcoin was quickly used for dark marketplaces such as Silk Road and Hydra, which made it possible to sell addictive hard material, child pornography and other serious illegal activities. This he claimed, ashamed of what he had created, as it was not why Bitcoin had been intended (it was meant to create an honest money system). He was distraught about this and felt that his work had failed, and this also meant that he was no longer a pastor and attended church. Wright added that he was willing to accept the chance that he could never access Bitcoin he had mined from 2009 to 201

0 because he would have confirmed his identity as Satoshi and because he wanted to disassociate himself from Bitcoin. He went so far as to say he wanted to destroy the station that could have given him access to Bitcoin he reminded him (for his company) between January 2009 and August 2010, but it was Dave Kleiman who convinced him not to.

At the stand, Wright continued that the original Bitcoin did not use the term public addresses that people perceive them today; Instead, it relied on public-private couples, with the private keys needed to use the coin. Today, people mistakenly perceive a public address similar to a bank account number, where coin holders collect Bitcoin and then use from that address. The original Bitcoin system created by Wright was never meant to incorporate a system of reusable public addresses where people can see how much Bitcoin collects in a single public address that is being reused. Instead, it was meant to create a new key pair (and thus a new address) for each transaction to provide users with a new privacy model. Wright testified that this is explained in the Bitcoin White Paper (Section 10, Privacy Policy).

After Wright's withdrawal from the Bitcoin project, the public address of the Bitcoin ledger was mistakenly misunderstood and misused by developers in what would become known as the Bitcoin Core (BTC) project. At that time, Wright was using Bitcoin for his business in 2009 and 2010 and under Wright's original Bitcoin design, there was no need to keep public addresses that people understand them now; Instead, at that time, the seed or private keys were all that needed or stored.

Wright was asked to provide the public Bitcoin addresses that allegedly hold a significant amount of assets – possibly in billions of dollars. He testified in court that he is more than willing to exchange the information if he could, but that the information needed to generate the list of public addresses is locked in an encrypted file, with multiple keys protecting different layers of the file. At the earliest, the first layers of the encrypted file cannot be opened at least January 2020. Wright explained that the encrypted file contains the relevant seed and his proprietary algorithm that can generate private Bitcoin keys extracted by his company in 2009 and 2010, which will allow him to generate the associated public keys and public addresses that most cryptophans are used to today.

If he can access private keys and then Bitcoin controlled by such private keys, Wright does not even want it. The recipients of the trust are his family members (wife and children). He said under oath that he and his wife agreed to donate the vast majority of the money to charity, including a program to provide education to the poorest 1 billion people in the world as part of his efforts to rectify the injustices committed by The darknet marketplaces that abused the Bitcoin system he invented.

Kleiman's lawyer crossed Wright to a greater extent, focusing on presumed inconsistencies in documents related to the legal trusts Wright created to protect assets. Wright explained a number of times that the company's servers had been hacked or compromised by former employees trying to force their Australian companies to liquidate.

Wright ended his testimony yesterday, but there is still much left to cover in the case. The consultation statement on the discovery problem is expected to continue again, but not until August. This is only to determine a limited issue in the case (if Wright can or cannot provide the list of public addresses requested by Kleiman). The full issues in the case will not be settled until other cases, and finally trial in March 2020.

Editor's Note: This article has been updated for clarity.

Note: The tokens on the Bitcoin Core (SegWit) chain are referred to as SegWitCoin BTC coins; tokens on the Bitcoin Cash ABC chain are referred to as BCH, BCH-ABC or BAB coins. Altcoins, who value privacy, anonymity and distance from government intervention, are referred to as dark coins.

Bitcoin Satoshi Vision (BSV) is currently the only Bitcoin project to follow the original Satoshi Nakamoto whitepaper, and it follows the original Satoshi protocol and design. BSV is the only public block chain that maintains the original Bitcoin vision and will massively scale to the world's new money and enterprise blockchain.


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