Craig Wright’s repeated claim to be the man behind pseudonymous name of Bitcoin creator Satoshi Nakamoto has taken another twist as news has broken that Wright had filed a copyright claim on the Bitcoin whitepaper and the computer code underpinning its operations. Originally uncovered by cryptocurrency policy think tank Coin Center’s communications director Neeraj K. Agrawal on Twitter, Wright’s copyright claims were added to the official catalogue of United States copyright claims on May 20.
— Neeraj K. Agrawal (@NeerajKA) May 21, 2019
Copyright claims can be filed by anyone on virtually anything with no need to produce extensive evidence to back these claims up. Others were quick to point this out on Twitter and it seems unlikely that Wright’s latest claim will win other any who have doubted his claims to be the “true” Satoshi Nakamoto. Coin Center executive director Jerry Brito suggested that others could file a copyright claim of their own, which would force Wright into producing evidence in order to take legal ownership of the Bitcoin whitepaper’s copyright.
Registering a copyright is just filing a form. The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them. https://t.co/YA70ALpG1Y
— Jerry Brito (@jerrybrito) May 21, 2019
Brito suggested that podcaster Peter McCormack would be a good choice to file a counterclaim to the Bitcoin copyright. McCormack has repeatedly goaded Wright over his claims to be the true Satoshi Nakamoto, offering him £100,000 last month if Wright was able to transfer any Bitcoin from an address associated with Satoshi Nakamoto. McCormack would the support of prominent figures in the crypto world such as Binance CEO Changpeng “CZ” Zhao with his mocking response to a lawsuit threatened against him by Wright for ridiculing Wright’s claims to be the true Satoshi Nakamoto.
Master piece! You have my full support, Peter.
To be clear, I don't choose sides on technology. We let market do that. I am against fraud, such as lying to be someone. As such, it is my strong opinion that:
Craig Wright is fraud. https://t.co/f9ihSD6Pr3
— CZ Binance (@cz_binance) April 15, 2019
CZ famously dealt a huge blow to the success of the Craig Wright-led Bitcoin Cash Satoshi’s Vision (SV) coin, formed in an acrimonious hard fork from Bitcoin Cash in November last year, by delisting it from Binance earlier this year. The drama surrounding the Bitcoin Cash hard fork, which saw hash power from major mining operations diverted into staving off attacks on the Bitcoin Cash network, is widely blamed for crashing Bitcoin’s price to the lowest of the protracted 2018 bear market.
As Bitcoin Cash SV was created in a hard fork, tokens were automatically available to anyone who held Bitcoin Cash at a 1:1 ratio. Many major exchanges, Binance included, chose to list the newly-forked cryptocurrency and thereby grant the forked tokens to users on their platforms. However, after growing increasingly exasperated with Wright’s claims to be Satoshi Nakamoto, Binance announced on April 15 that Bitcoin Cash SV would be delisted from Binance. The price fell immediately, tumbling from to $72.33 to $55.30 in around 24 hours.
Why has Bitcoin Cash SV’s price shot up?
Looking at the immediate reaction to news breaking of Wright’s latest claims on Twitter, it seems unlikely any new believers will be won over to his cause. Nevertheless, this latest headline-grabbing announcement seems almost certain to have had some impact on a huge surge in Bitcoin Cash SV’s price. Though it’s fallen away since, Bitcoin Cash SV went from $62.52 at UTC 12:00 to $139.31 at UTC 13:01 – a gain of 221% in a little over an hour.
Not only is this far above the level Bitcoin Cash SV was at prior to the Binance delisting, it’s the also the highest level the controversial cryptocurrency has seen since the days following its November launch. During that period, the price oscillated wildly as part of a fractious hash rate war between supporters of Craig Wright’s hard fork and the original Bitcoin Cash. The latest surge hasn’t been completely sustained, but Bitcoin Cash SV is still at $105, having not broken above $100 since December.
Of course, Binance is not among the exchanges to have contributed to this latest surge in Bitcoin Cash SV’s spot price. Instead, South Korean exchange Upbit, Swiss exchange DCoin, and Hong Kong/Malta based exchanged OKEX are together comprising around a third of Bitcoin Cash SV’s volume in the past 24 hours, according to CoinMarketCap.com.
The suddenness of the increase will no doubt only add to the controversy surrounding Wright and Bitcoin Cash SV in the cryptocurrency scene.