Craig Wright launches new legal challenge against Bitcoin identity

2024-10-19 12:12:29

Abstract generation in progress

Author: Mariusz Lewandowski; Source: bitperfect

As he makes another attempt to assert his claims in the Cryptocurrency field, Craig Wright has initiated another legal action, claiming that modern BTC developers have deviated from its fundamental principles. He insists that BTCSV represents the true essence of BTC and is now seeking over $1.18 billion in compensation based on the difference in market valuations between BTC and BTCSV.

Craig Wright has been involved in legal disputes for claiming to be the so-called creator of BTC, Satoshi Nakamoto. He recently filed a lawsuit in the High Court of England accusing the defendants of making significant changes to the original BTC protocol. He pointed out that the introduction of SegWit and Taproot upgrades was a key modification that misled the intended design of BTC. Wright believes that these modifications have caused confusion and misunderstanding in the market, misleading investors’ understanding of the true attributes of BTC.

The defendants mentioned in the lawsuit include BTC core developers and payment services related to Jack Dorsey. The lawsuit quantifies its claims by highlighting the distinct trading values between BTC (priced at $62,000 at the time) and BTCSV (valued at approximately $65).

While advocates of Decentralization governance argue that protocol changes stem from community Consensus, Wright believes that his unique vision for BTC should take precedence. Experts are skeptical about the feasibility of Wright’s claims, especially considering that a previous court ruling has rejected his assertion of being the creator of BTC.

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