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Nov 23 - How the Bitcoin Trial of the Century Could Rock The Crypto Markets



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 2 weeks ago '21        #1
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mypostmakesense  topics gone triple plat - Number 1 spot x9
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Nov 23 - How the Bitcoin Trial of the Century Could Rock The Crypto Markets
 

 
When Bitcoin was launched in 2009, a single bitcoin was priced at less than a tenth of a penny ($0.0008) — now one bitcoin is worth well over $50,000. Imagine having created bitcoin, and the fortune that would belong to you — well, one man claims he did and now the family of another man says he wasn’t alone in doing so, and it’s turned into a trial playing out right here in Miami.

It’s being called bitcoin’s trial of the century, and ultimately this multi-billion dollar case is about whether or not the man who claims to have founded bitcoin had a partner. A Miami federal judge could order 1.1 million bitcoins to be split in half — a move that would rock the crypto market.

“It’s many hundreds, thousands of wallets containing 1.1 million bitcoin that have never moved that were mined by Satoshi Nakamoto,” said Kurt Wuckert Jr., a Bitcoin historian of CoinGeek.


In the crypto world, Satoshi Nakamoto is the pseudonym used by the person, or people, who created bitcoin back in the late 2000s. Satoshi is estimated to hold up to 20% of all bitcoins and is thought to have written and published bitcoin’s white paper — the original plan and protocol for cryptocurrency. But the identity behind Satoshi is shrouded in mystery.

“We have this inventor and we don’t know who they are. We can’t find the ID of this person who is sitting on a mountain of gold,” said Chris Cannucciari, the director of an upcoming documentary, "The Search for Satoshi."

While many have claimed to be Satoshi, none have been as adamant in trying to prove it as Craig Steven Wright, a computer scientist from Australia who says he’s Satoshi Nakamoto.

"There’s a lot of potential possibilities for him to be Satoshi,” Cannuciari said. “There hasn’t been concrete evidence he is Satoshi, but he was at the scene of the crime, you could say.”

If Wright is the creator of bitcoin, some say he wasn’t alone in doing so. Family members of the late David Kleiman — a computer scientist from Palm Beach County who died back in 2013 — say Kleiman developed bitcoin with Wright and have taken Wright to court over the matter, suing for half of Satoshi Nakamoto’s bitcoins.

"The fundamental problem is there is no indication that the two men had any written agreement partnership to mine bitcoin,” said Andres Rivero, Wright’s defense attorney.


Ira Kleiman, David’s brother, is behind the lawsuit.

“Ira Kleiman is looking for a pot of gold and he’s not going to find it here,” Rivero said.

NBC 6 reached out to Kleiman's legal team. who said they’d be in touch but ultimately didn’t get back to us.

In court, Kleiman's team has presented emails that they say prove the two were partners in bitcoin, but Wright’s defense says while the two were dear friends and did collaborate in other projects, Wright is the sole creator of bitcoin.

“There’s a lot on the line for both sides,” Cannucciari said. “The big tobacco case settled in the hundreds of millions, this is in the tens of billions. That would be significant.”

If a judge orders the bitcoins to be split in half, and Wright actually moves them, experts say the skyrocketing price of bitcoin could plummet.

"The second a coin moves, it proves your coins are not safe," Wuckhert said. "It would be the largest crash in bitcoin history."

The case, which is being heard at federal court in downtown Miami, is expected to wrap up before Thanksgiving.


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 2 weeks ago '17        #2
SPdaGOAT  topics gone triple plat - Number 1 spot x5
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It is spooky
+1   

 2 weeks ago '21        #3
Pizzabox 
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Ok so.. if this happens then the price drops drastically but what if it doesn’t? Do prices skyrocket?
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 2 weeks ago '04        #4
Tic Toc 
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 Pizzabox said
Ok so.. if this happens then the price drops drastically but what if it doesn’t? Do prices skyrocket?
Very good question...
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 2 weeks ago '18        #5
Mr Tibbs 
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bitcoin is stupid.
-2   

 2 weeks ago '20        #6
CVNVAS 
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Cardano has been very good to me and so has chainlink.
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 2 weeks ago '21        #7
justforboxden 
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Sounds dumb. Really there's no way to prove either of them are Satoshi. There's also no way to force that man to move his crypto. He could always lose the keys in a boating accident like everyone else with a half a brain cell
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 2 weeks ago '20        #8
Ecnarongi 
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If sh*t hits the fan, don't just focus on Bitcoin look at other coins and...

BUY THE DIP
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 2 weeks ago '09        #9
Zao 
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I need crypto to crash so I can get in. When Bitcoin came out I was 19 I didn't even have a job back then. I want a complete crypto restart where I can get back in at a low low price and hold on for a few years and cash out and be a millionaire
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 2 weeks ago '13        #10
PCDubya 
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1.1 million bitcoin.... sh*t is crazy to even think. I'm buying a small island and living like a damn king.
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 2 weeks ago '07        #11
GrezyNclean  topics gone triple plat - Number 1 spot x6
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Craig Wright is a known fraud that has been suing in multiple countries claiming to have invented Bitcoin.

I can't remember where the article is but basically, in one trial, Wright claimed to have access to one of Satoshi's Bitcoin wallets. When the judge asked him for the password to prove that he was the owner, Wright couldn't give it to him nor was he ever able to access it.

I think what happened is that Craig Wright was an early Bitcoin miner that does have alot of Bitcoin and even created Bitcoin SV (a BS coin don't worry about it).

This Coindesk article is basically what 98% of the Crypto world believes about Craig Wright

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 2 weeks ago '20        #12
Ecnarongi 
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 Zao said
I need crypto to crash so I can get in. When Bitcoin came out I was 19 I didn't even have a job back then. I want a complete crypto restart where I can get back in at a low low price and hold on for a few years and cash out and be a millionaire
FUX THAT!!

Etherium was low as $100 last year in 2020. SHIB was pennies last year. There is always a coin/token that you can invest in and see your money go nuts.

You just have to really, really have to get involved with crypto. Get into those airdrops.

visit:







Live On:



Get your knowledge up. At the end of 2017 I was earning $800/day for 30+ days with a $1000 investment. Did I get lucky, hell yea. Is it impossible to repeat or do better, hell no.

I had been in crypto since then and have done well. Missed a few opportunities sure, but I am in for the long run.

Good luck
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 2 weeks ago '09        #13
Zao 
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 Ecnarongi said
FUX THAT!!

Etherium was low as $100 last year in 2020. SHIB was pennies last year. There is always a coin/token that you can invest in and see your money go nuts.

You just have to really, really have to get involved with crypto. Get into those airdrops.

visit:







Live On:



Get your knowledge up. At the end of 2017 I was earning $800/day for 30+ days with a $1000 investment. Did I get lucky, hell yea. Is it impossible to repeat or do better, hell no.

I had been in crypto since then and have done well. Missed a few opportunities sure, but I am in for the long run.

Good luck
Thank you for all of this!!!
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 1 week ago '04        #14
bingiedred  topics gone triple plat - Number 1 spot x1
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 Ecnarongi said
If sh*t hits the fan, don't just focus on Bitcoin look at other coins and...

BUY THE DIP
What's your thoughts on btc at the moment? I'm looking for a bounce around 49k-50k..

 1 week ago '20        #15
Ecnarongi 
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 bingiedred said
What's your thoughts on btc at the moment? I'm looking for a bounce around 49k-50k..
The ONLY value Bitcoin has is it is the face of the entire crypto currency concept. So as crypto currency continues to become popular it will grow.

Bitcoin is projected to have top limits of 400k dollars per coin. Get in. But there are way better investments than bitcoin. And way better projects, if you don't care about the fast buck, to invest in.

Top 10 most propped recently  1 week ago '20        #16
Gen Anti Fruit  topics gone triple plat - Number 1 spot x14
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Don’t invest what you can’t afford to lose and none of this sh*t should faze you,

Take profits. sh*ts always been an informed gamble.
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 1 week ago '04        #17
bingiedred  topics gone triple plat - Number 1 spot x1
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 Ecnarongi said
The ONLY value Bitcoin has is it is the face of the entire crypto currency concept. So as crypto currency continues to become popular it will grow.

Bitcoin is projected to have top limits of 400k dollars per coin. Get in. But there are way better investments than bitcoin. And way better projects, if you don't care about the fast buck, to invest in.
This I know, it's the mother coin that all others are based on. But yeah I'm always in and out of it (buy low, sell high) as well as other coins/tokens. I was just asking your pic as a trader but maybe your just a hodlr..

 1 week ago '20        #18
Ecnarongi 
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 bingiedred said
This I know, it's the mother coin that all others are based on. But yeah I'm always in and out of it (buy low, sell high) as well as other coins/tokens. I was just asking your pic as a trader but maybe your just a hodlr..
So traditionally the start of the new year there is always a bump. Bitcoin is sitting at $54k, if you can purchase a few coins and in Jan. Bitcoin goes to $75k you made a little bit. But if you only purchase $4k worth of a coin you will see maybe a 40% net, is it worth it to make ~$2k. My question is why Bitcoin?

I like sh*tcoins, I can purchase thousands of them and get out on its way up. With Bitcoin who knows where it will peak. Think for a second on the above example. Bitcoin going from $54k to $75k. When would you get out? At $65k? at $70k or will you be holding the bag when it comes down off its peak.

If you are holding, you will see profits in the future and good luck to you (capital gains tax is a bi*ch). If you are weekly or even day trading, I know there are better stable coins/tokens that you can invest in. I am in Bitcoin but not heavy. I've actually lost money on transactions because Bitcoin transactions are slow AF.
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 1 week ago '04        #19
bingiedred  topics gone triple plat - Number 1 spot x1
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 Ecnarongi said
So traditionally the start of the new year there is always a bump. Bitcoin is sitting at $54k, if you can purchase a few coins and in Jan. Bitcoin goes to $75k you made a little bit. But if you only purchase $4k worth of a coin you will see maybe a 40% net, is it worth it to make ~$2k. My question is why Bitcoin?

I like sh*tcoins, I can purchase thousands of them and get out on its way up. With Bitcoin who knows where it will peak. Think for a second on the above example. Bitcoin going from $54k to $75k. When would you get out? At $65k? at $70k or will you be holding the bag when it comes down off its peak.

If you are holding, you will see profits in the future and good luck to you (capital gains tax is a bi*ch). If you are weekly or even day trading, I know there are better stable coins/tokens that you can invest in. I am in Bitcoin but not heavy. I've actually lost money on transactions because Bitcoin transactions are slow AF.
I gotcha bro, I'm not necessarily in btc, i just watch it as a gauge to determine the movement of the market. Rarely will I get in it, but when it gets into one of those bull runs, I jump on for a quick ride and then cash out. But usually I'm into alt coins and defi is next up for me...
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 1 week ago '07        #20
andros06 
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"They" want cheaper Bitcoin. On you if you give it to them. They ain't getting mine. Btc easily over 100k in 2022.

 1 week ago '16        #21
foshoVoodoo  topics gone triple plat - Number 1 spot x55
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who tf gave them authority?
just should get disbarred for even mentioning bitcoin



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