Alleged Bitcoin Inventor Trial Ends But The Real Satoshi Still Unknown

The trial of alleged Bitcoin Inventor failed to show that he, indeed is the real inventor. This is because a jury has ruled that Craig Wright, self proclaimed Bitcoin inventor, won’t have to give up half of his supposed stash of Bitcoin, valued at over $50 billion.

The highlight of this case has been the expect transfer of the Bitcoin if Wright lost the case. The transfer those Bitcoins would have proved that he is the real inventor of Bitcoin, because only the inventor, known as Satoshi, could have been able to do that.

If you are confused, here is the story of Satoshi Nakamoto. Satoshi is hallowed as the inventor of Bitcoin, though nobody knows whether Satoshi is a man, a woman or a group of people. What we only know is that the name Satoshi shows up on the original whitepaper that described how Bitcoin would work. Though Satoshi Nakamoto’s identity has never been proven, Craig Wright repeated claims that he is Satoshi, a claim he hasn’t provided any evidence to prove.

However, someone amassed a stash of Bitcoin estimated at somewhere between 750K and 1.1 million in Bitcoin’s early days, and it is thought that only the inventor of Bitcoin could have had the capability of doing such a thing.

It’s those Bitcoins that are now the bone of contention in this current case, which started in 2018. It all started when Wright was sued by a deceased former colleague’s relatives for half of the Bitcoin stash he supposedly owns. Though those relatives actually agreed that Wright was involved in the creation of Bitcoin, they claimed that he wasn’t the only one involved. Their claim is that their relative, named Dave Kleiman, helped Wright invent Bitcoin and is therefore entitled to half of the Satoshi stash.

Now, here is the interesting part. Much of the Bitcoin community believes that Wright isn’t the real Satoshi. So, many were actually hoping that Wright would lose the case, on the possibility that the court would make Wright payout half of the Satoshi Bitcoin stash to the Dave Kleiman estate. That would actually prove that he is the real Satoshi because only the real Satoshi is capable of making such a cashout.

That cashout would have proved that Wright is actually Satoshi, something the court failed to prove. However, the judge more or less called Wright a liar, accusing him of trying to use forged documents as evidence. Sadly, the just never explicitly asked Wright to prove beyond reasonable doubt that he was actually Satoshi, as that was not part of the case.

The jury wasn’t out to determine whether Wright was actually Satoshi, but to determine whether Wright and Kleiman had any sort of business relationship that would entitle the Wright to pay the Kleiman estate.

At the end of the day, Wright was been ordered by the jury to pay $100 million to W&K Info Defense Research, a company Wright and Kleiman started together. Craig has also reportedly said that he’ll donate most of his Bitcoin fortune to charity now that he’s won.

Source : The Verge


Sydney Chako

Mathematics, Chemistry and Physics teacher at Sytech Learning Academy. From Junior Secondary School to Tertiary Level Engineering Mathematics and Engineering Science.

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