Archive for the ‘Satoshi Nakamoto’ Category

Bitcoin’s Big Breakout Coming Soon? Satoshi’s Ally Predicts When – TradingView

Bitcoin's price has been pretty steady at around $70,000 for a while now, since mid-May. Despite this, the cryptocurrency's price has shown minimal movement, fluctuating within a narrow 6% range. This period of low volatility has frustrated market participants, particularly as Bitcoin's all-time high of $74,000 remains tantalizingly close yet seemingly out of reach.

The lack of movement in the price has seriously annoyed traders and investors, and there has been a lot of talk about price manipulation.Adam Back, who is a contemporary of Bitcoin's mysterious creator Satoshi Nakamoto, addressed these concerns in a recent discussion.

Back suggested that the current price suppression could be down to certain sellers who urgently need cash and are offloading theirBitcoin holdings. He said that these sellers, who might not be willing or able to wait for higher prices, have a limited amount ofBTC to sell. Once they have sold all their holdings, the market might start to move up again, says the developer.

someone is selling, who doesn't want to hodl for a higher price - eg need money now for some reason - just got to wait until they run out of #bitcoin to sell. they can only sell once! Adam Back (@adam3us) June 6,2024

These comments match what a lot of people in the cryptocurrency community are feeling. Many think that things like institutional investors and trading platforms like ETFs and Coinbase might be influencing the market. The idea is that these entities, possibly in collaboration with official agencies, are trying to keep prices stable or suppressed for their own strategic advantage.

When breakout?

However, Backs perspective offers a glimmer of hope in the current market conditions. The idea that current sellers' influence is temporary suggests that once their selling capacity is depleted, Bitcoin could resume its upward trajectory.BTC to USD by CoinMarketCap

This view lines up with how the price has moved historical, as there have often been periods of consolidation before big price surges.

Summing up, while the current trading range and low volatility are testing the patience of market participants,Bitcoin's price could break free from its current stagnation, potentially reaching new highs once the immediate liquidity needs of these sellers are met.

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Bitcoin's Big Breakout Coming Soon? Satoshi's Ally Predicts When - TradingView

Craig Wright forged documents ‘on a grand scale’ in false claim to be bitcoin inventor Satoshi Nakamoto: judge – New York Post

A British judge slapped down an Australian computer scientist who claimed to be the enigmatic bitcoin inventor Satoshi Nakamoto, saying he has extensively and repeatedly lied about his identity.

Judge James Mellor of Londons High Court determined that Craig Wright who has insisted for years that he authored the 2008 white paper that spawned bitcoin had also committed forgery on a grand scale to convince the world he was Satoshi in a scathing ruling issued Monday.

The judge had already determined in March that there was overwhelming evidence against Wrights claim that he was Satoshi.

Dr. Wright presents himself as an extremely clever person. However, in my judgment, he is not nearly as clever as he thinks he is, Mellor wrote as he gave the reasons for his conclusions.

All his lies and forged documents were in support of his biggest lie: his claim to be Satoshi Nakamoto.

Wright faced trial in connection to a lawsuit filed by the Crypto Open Patent Alliance, which was attempting to halt his bid to sue bitcoin developers for allegedly violating his intellectual property rights.

COPA whose members include Twitter founder Jack Dorseys payments firm Block described Mondays ruling as a watershed moment for the open-source community.

Developers can now continue their important work maintaining, iterating on, and improving the bitcoin network without risking their personal livelihoods or fearing costly and time-consuming litigation from Craig Wright,a COPA spokesperson said in a statement.

Wright was specifically asked about the forgery allegations during the trial and denied wrongdoing.

If I forged that document, it would be perfect, Wright said when presented with one alleged forgery.

COPA said it may askUK prosecutors to bring perjury chargesagainst Wright.

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Dr Wrights attempts to prove he was/is Satoshi Nakamoto represent a most serious abuse of this Courts process, Mellor said in his ruling.

Despite the harsh rebuke, Wright said Monday in a post on X that he intends to challenge the court ruling.

I fully intend to appeal the decision of the court on the matter of the identity issue, the post said. I would like to acknowledge and thank all my supporters for their unwavering encouragement and support.

The person or persons behind the Satoshi Nakamoto pseudonym are known to possess a stash of up to 1.1 million bitcoins valued at more than $78 billion at present.

A single bitcoin was worth more than $71,000 as of Tuesday, with prices surging more than 60% since the start of the year.

Bitcoins market cap is more than $1.4 trillion, far higher than any other digital currency on the market.

With Post wires

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Craig Wright forged documents 'on a grand scale' in false claim to be bitcoin inventor Satoshi Nakamoto: judge - New York Post

That Guy Claiming to Be Satoshi Nakamoto Just Got Beat Down by a Judge – Futurism

"He is not nearly as clever as he thinks he is." Please Stand Up

Craig Wright, the Australian computer scientist who has long claimed to be Bitcoin's mysterious creator Satoshi Nakamoto, has been declared a fraud.

AsWired reports, a judge in the United Kingdom has ruled that Wright perpetrated a long-running scheme, including extensive document forgery, in service of the lie that he was Nakamoto.

In his scathing rebuke, High Court Justice James Mellon eviscerated the Aussie prevaricator, saying that although "many of Dr. Wrights lies contained a grain of truth," he's told too many over the years to keep them straight.

For the better part of the last decade, the Aussie fraudster has claimed to anyone who will listen that he was the original author of the 2008 white paper that led to Bitcoin's invention. When asked to prove it, Wright has provided various excuses, including that he "stomped on the hard drive" that contained the smoking gun but a lack of hard evidence hasn't stopped him from testifying in multiple countries that he's the real Nakamoto.

Beyond that outlandish insistence, the Aussie programmer also founded his own cryptocurrency, called Bitcoin Satoshi Vision, and sued people who challenged his claim to fame. With this latest judgement, which was brought after a group of crypto firms called Crypto Open Patent Alliance (COPA) sued to set the record straight, continuing his shenanigans will be difficult.

"It is clear that Dr. Wright engaged in the deliberate production of false documents to support false claims and use the Courts as a vehicle for fraud," Mellor wrote in his ruling. "I am entirely satisfied that Dr. Wright lied to the Court extensively and repeatedly. All his lies and forged documents were in support of his biggest lie: his claim to be Satoshi Nakamoto."

In mid-March, the same British judge ruled in a rare snap decision in the COPA suit that evidence of Wright not being Nakamoto "is overwhelming," and this final judgment seems to be the nail in the coffin of the Aussie fabulist's "reign of terror," as one user on X-formerly-Twitter called it.

"Dr. Wright presents himself as an extremely clever person," Mellor wrote in the more recent ruling. "However, in my judgment, he is not nearly as clever as he thinks he is."

Wright, to his end, announced on X that he plans to appeal the ruling, but with the evidence stacked so thoroughly against him, it seems that his house of cards may finally have tumbled for good.

More on Bitcoin:Many Consumers Expect Bitcoin to Crash and Burn

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That Guy Claiming to Be Satoshi Nakamoto Just Got Beat Down by a Judge - Futurism

Craig Wright "Slippery" and "Not as Clever as He Thinks He is" Judge Blasts Would-be Satoshi Nakamoto – CCN.com

Key Takeaways

In a decisive verdict, a British High Court ruled against Craig Wrights claims that he was Bitcoin founder Satoshi Nakamoto.

In the detailed written declaration, the judge provided a comprehensive account of the trials proceedings. The ruling explicitly states that Craig Wright is not Satoshi Nakamoto and outlines the reasons why his evidence was fraudulent.

In response to the March 14 ruling, COPA (Crypto Open Patent Alliance) took further legal steps to ensure Craig Wright can no longer assert his claims of being Satoshi Nakamoto. As stated by a COPA spokesperson, COPA is requesting a court order designed to avoid further litigation terror campaigns. This move is aimed at preventing Wright from continuing to assert his claims, which the court found were untrue.

The recently released written verdict explains why Wrights evidence was deemed fraudulent and clarifies that he is not Satoshi Nakamoto. The comprehensive nature of this verdict aims to put an end to the ongoing disputes and prevent Wright from perpetuating his claims in the future.

Mr Justice Mellor expressed no doubt about Wrights dishonesty throughout the trial, highlighting the extensive forgery involved. Despite the ruling, Wright remained defiant, announcing his intention to appeal the decision.

During the court trial, Mr Justice Mellor tried to be as objective as he could. However, he found that Wright was not nearly as clever as he thinks he is. One could, potentially, describe the judges words as extremely diplomatic.

In the COPA vs. Craig Wright case, Mr Justice Mellor found that Wright lied extensively and repeatedly to the court, both in his written and oral evidence, primarily concerning forged documents intended to support his claim of being Satoshi Nakamoto. These falsehoods were part of Wrights broader attempt to substantiate his identity as the creator of Bitcoin.

He said:

Dr Wright presents himself as an extremely clever person. However, in my judgment, he is not nearly as clever as he thinks he is. In both his written evidence and in days of oral evidence under cross-examination, I am entirely satisfied that Dr Wright lied to the Court extensively and repeatedly. Most of his lies related to the documents he had forged which purported to support his claim. All his lies and forged documents were in support of his biggest lie: his claim to be Satoshi Nakamoto.

Mr Justice Mellor added:

As soon as one lie was exposed, Dr Wright resorted to further lies and evasions. The final destination frequently turned out to be either Dr Wright blaming some other (often unidentified) person for his predicament or what can only be described as technobabble delivered by him in the witness box.

Although as a person with expertise in IT security, Dr Wright must have thought his forgeries would provide convincing evidence to support his claim to be Satoshi or some other point of detail and would go undetected, the evidence showsthat most of his forgeries turned out to be clumsy.

Indeed, certain of Dr Wrights responses in cross-examination effectively acknowledged that point: from my recollection at least twice he indicated if he had wanted to forge a document, he would have done a much better job.

The judge concluded that for Wrights claims to be true, he would have to be very unlucky. The evidence, however, painted a different picture, revealing a pattern of deceit and forgery in his attempts to prove his identity as Satoshi Nakamoto.

He added:

The true position is far simpler. It is, however, far from simple because Dr Wright has lied so much over so many years that, on certain points, it can be difficult to pinpoint what actually happened.

Those difficulties do not detract from the fact that there is a very considerable body of evidence against Dr Wright being Satoshi. To the extent that it is said there is evidence supporting his claim, it is at best questionable or of very dubious relevance or entirely circumstantial and at worst, it is fabricated and/or based on documents I am satisfied have been forged on a grand scale by Dr Wright.

These fabrications and forgeries were exposed in the evidence which I received during the Trial. For that reason, this Judgment contains considerable technical and other detail which is required to expose the true scale of his mendacious campaign to prove he was/is Satoshi Nakamoto.

In his ruling on the COPA vs. Craig Wright case, Mr Justice Mellor highlighted significant inconsistencies in Dr. Wrights testimony.

Mr Justice Mellor said:

Furthermore, in his evidence, Dr Wright made significant errors which Satoshi would never have made, even after this length of time. Some of these relate to Satoshis interactions with individuals not previously made public. Others relate to technical matters which Dr Wright simply got wrong but which Satoshi would not have got wrong.

Also, Mr Justice Mellor said Wright had many years to substantiate his claim of being Satoshi Nakamoto. However, as challenges to his claim intensified, Wright escalated his use of falsehoods and forged documents.

The judge noted that Wrights behavior, characterized by increasing arrogance and a belief in his intellectual superiority, starkly contrasted with the more humble and collaborative tone evident in Satoshis writings. Judge concluded that Wrights demeanor and the nature of his evidence were inconsistent with that of Satoshi Nakamoto, further undermining his claim to be the creator of Bitcoin.

He said:

Ultimately, I consider it is likely that the real Satoshi would never have set out to prove in litigation that he actually was Satoshi and certainly not in the way that Dr Wright attempted to do so.

Since 2019, Craig Wright has initiated several lawsuits against Bitcoin developers in an attempt to gain control over the Bitcoin network and suppress critics of his claims. The Bitcoin Legal Defense Fund has argued that these lawsuits threaten the future of Bitcoin by discouraging developers from continuing their work on the blockchain.

In his judgment, Mr Justice Mellor acknowledged the negative impact of Wrights aggressive legal strategies on the Bitcoin development community.

He noted that Wrights litigious approach was inconsistent with the collaborative and non-confrontational nature typically associated with Satoshi Nakamoto. Judge Mellor pointed out that the real Satoshi would likely have accepted differing views, which led to Bitcoins hard forks, and moved on without resorting to legal action. This recognition of Wrights adversarial tactics further supported the courts decision in favor of COPA.

Mr Justice Mellor was pretty clear when giving his final word:

He stated:

First, Dr Wright is not the author of the Bitcoin White Paper. Second, Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period between 2008 and 2011. Third, Dr Wright is not the person who created the Bitcoin system. Fourth, Dr Wright is not the author of the initial versions of the Bitcoin Software.

The ruling represents a significant victory for the COPA, which sought to invalidate Wrights claims to the Bitcoin whitepaper and related intellectual property.

Wrights vow to appeal the ruling suggests that this legal saga is far from over. His legal team is expected to challenge Mr Justice Mellors conclusions. This decision follows a series of legal and public relations setbacks for Wright, who has faced numerous accusations of fraud and forgery over the years.

Following the March 14 ruling against him, Craig Wright initially stated he would evaluate his options once the final written verdict was released. Despite the judges verdict, it is evident Wright intends to carry on claiming that he is Satoshi Nakamoto.

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Craig Wright "Slippery" and "Not as Clever as He Thinks He is" Judge Blasts Would-be Satoshi Nakamoto - CCN.com

Satoshi-Era Bitcoin Miner Awakens: 2000 BTC Moved in One Go – Investing.com

U.Today - According to Julio Moreno, head of research at CryptoQuant, an early miner from the Satoshi era has moved 2,000 BTC. This activity involved coins mined in 2010, a time when Bitcoin's value was negligible compared to today's prices.

"Satoshi era" refers to the period when Bitcoin's pseudonymous creator, Satoshi Nakamoto, was active in the community, roughly between 2009 and 2010.

Bitcoin mined during the early years (2009-2011) is considered part of Bitcoins foundational history. Transactions involving these coins are rare and often attract considerable attention. This is often because old Bitcoin miners act as a source of liquidity and distribution.

The transfer was notable not only for its size but also because it involved coins that had been held for roughly 14 years. The motivation behind moving such a significant amount of Bitcoin after a prolonged period can vary.

Some potential reasons include: the holder might seek to capitalize on current market prices or to fund new ventures or investments. Sometimes, old addresses move small amounts to test modern transaction capabilities and security before deciding on larger moves.

It is also possible that the owner might be moving their holdings to enhance security, utilizing modern wallets with advanced security features compared to older ones.

The movement might be part of a broader market strategy, such as preparing for a large sale through over-the-counter (OTC) markets.

According to Moreno, the latter scenario might be the case. He speculates that the coins likely went to an OTC desk or custodian, given that they were forwarded to several other new addresses almost immediately.

At the time of writing, BTC was down 0.5% in the last 24 hours to $69,681. At current prices, the value of the transferred 2,000 BTC would be worth nearly $130 million.

This article was originally published on U.Today

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Satoshi-Era Bitcoin Miner Awakens: 2000 BTC Moved in One Go - Investing.com