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The Restless And Reckless: How Craig Wright Incurres the Wrath Of Crypto Industry

03 June 2019 16:22, UTC
The Restless And Reckless: How Craig Wright Incurres the Wrath Of Crypto Industry
By Denis Goncharenko

Not a single week passes by for the notorious doctor Craig WRIGHT not to attract attention with his odious activity. As you may know, last month the self-proclaimed Satoshi NAKAMOTO submitted two applications to the US Copyright Office, calling himself the author of white paper of the first cryptocurrency as well as the early version of its code.

Many media outlets presented this information in such a way that Wright had already obtained rights. This news affected the rate of his affiliated cryptocurrency, BitcoinSV (BSV), or Satoshi Vision. In open sources, such as CoinMarketCap, one can easily follow the growth of the coin, which added about 70% per that day, resulting in the return of the cryptocurrency to 11th place in terms of capitalization.Well, this is another proof that speculation on rumors and FOMO is still able to create miracles with prices in this market.

We cannot exclude that Wright’s move is an attempt to reanimate the cost of the Bitcoin fork promoted by him: the success of BSV was far from being brilliant. But still, what about patents? After the media hype had passed, it became clear that applying doesn’t mean that it will eventually be approved. We still don’t know what consequences the scandalous “cryptocurrency evangelist” expected. All the week, the US Copyright Office had been denying reports concerning official recognition of someone to be the inventor of Bitcoin. The official press release from the state agency states the following:

“As a general rule, when the Copyright Office receives an application for registration, the claimant certifies as to the truth of the statements made in the submitted materials. The Copyright Office does not investigate the truth of any statement made.”
Put simply, any claims that the US government has registered Wright as the author of Bitcoin, have nothing to do with reality. The government issued this press release in response to Wright’s actions and his own press release, distributed by CoinGeek and Calvin AYRE. The latter stated that the government recognized Wright as Satoshi. This is essentially a lie.

29.04.2019  |   in Guest posts
The application is filed and registered, but the US Copyright Office did not recognize anything, this is just a provocation by Wright. Now, in order to achieve consideration and denial of his statement, it is necessary that someone else has issued a copyright to Bitcoin. As noted by lawyer Chris HARVEY, a deliberately false of registration of copyright is considered fraud. Has anyone responded to the provocation? Yes.

Thus, a petition on Change.org was quickly created. It is aimed at ensuring that Craig Wright did not present any rights to the authorship of white paper or the Bitcoin code. The petition is called “Remove Craig Wright's name from Bitcoin whitepaper copyright” and it quickly spreads through forums and media. The full text of the petition is here.

The well-known crypto enthusiast Peter McCORMACK recently joined the legal battle with Wright. Craig Wright sued him for "persecution and libel." The end of the story is unclear, but it seems that McCormack, who first wanted to resolve the dispute in a peaceful way, seriously thought about the trial. Among other things, Wright received tons of negativity on the network from everyone who, one way or another, considers his statements about the authorship of Bitcoin to be empty and untrue.

And still, that’s not all! The provocation resulted in another Satoshi “in the house” — to thrill Wright. It became known that another claim of copyright for the Bitcoin white paper was indeed registered at the US Copyright Office on May 24, by a Chinese citizen going by the name of Wei Liu, Financial Times reports. So, it seems that the provocation resulted ina backlash — crypto enthusiasts from all around the world discuss the possibility to make more similar claims and sue or humiliate Wright for his actions.

But does this whole story really deserve so much attention? What is this hype for? Does the filing of a dubious application for intellectual property rights have any effect on the economy and the decentralized nature of Bitcoin today? In fact, Craig Wright is increasingly digging his own grave with delusional claims and making himself a clown. Of course, if he did earn the huge amount of money on the speculative leap of his beloved BSV, then we can still understand the true reasons behind this comedy show. In all other cases, this is just a hype which will eventually be forgotten. Until next one.

Image courtesy of Coin Geek

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