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Man Claiming to Have Invented Bitcoin Wins Dispute, Gets to Keep $50B in Crypto



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 2 months ago '19        #1
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The Dogefather  topics gone triple plat - Number 1 spot x15
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Man Claiming to Have Invented Bitcoin Wins Dispute, Gets to Keep $50B in Crypto
 

 
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Craig Wright, a computer scientist claiming to be Bitcoin's creator, won a civil lawsuit Monday, allowing him to keep about $50 billion in cryptocurrency, or 1.1 million Bitcoin, according to the a*sociated Press.

The Bitcoin in question was among the first to be manufactured through mining and could only be owned by whoever or whatever was involved with the cryptocurrency since its start, like Satoshi Nakamoto, Bitcoin's creator.

The lawsuit was won against the family of David Kleiman, a deceased business partner who claimed they were owed half of the 1.1 million Bitcoin. A Florida jury found they were not owed the Bitcoin, but gave them $100 million in intellectual property rights to a joint venture between Kleiman and Wright. According to the AP, this is only a fraction of what Kleiman's lawyers asked for during the trial.

"This was a tremendous victory for our side," said Wright's lead lawyer, Andres Rivero of Rivero Mestre LLP.

The jury listened to testimony about the how Bitcoin was created and how cryptocurrency worked, the AP said. The jurors took a full week to decide, with jurors constantly asked questions regarding cryptocurrencies' workings and the business relationship between Wright and Kleiman to lawyers from both sides and the judge. Jurors had signaled they were deadlocked to the judge at one point.

The win for Wright will have the cryptocurrency community looking to him to prove he is Bitcoin's creator, as he promised during the trial, the AP reported. This would help lend credibility to Wright's claim that he is Nakamoto, originally made in 2016.

Wright and other cryptocurrency experts testified that Wright owns the 1.1 million Bitcoin.

Bitcoin's origins have always been a bit of a mystery, which is why this trial has drawn so much attention from outsiders. In October 2008, during the height of the financial crisis, a person named "Satoshi Nakamoto" published a paper laying out a framework for a digital currency that would not be tied to any legal or sovereign authority. Mining for the currency, which involves computers solving mathematical equations, began a few months later.

The name Nakamoto, roughly translated from Japanese to mean "at the center of," was never considered to be the real name of Bitcoin's creator. Some in the cryptocurrency community do not even believe Nakamoto was a single individual.

Wright's claim that he is Nakamoto has been met with skepticism from a sizeable portion of the cryptocurrency community. Due to its structure, all transactions of Bitcoin are public and the 1.1 million Bitcoins in question have remained untouched since their creation. Members of the Bitcoin community have regularly called for Wright to move just a fraction of the coins into a separate account to prove ownership and show that he truly is as wealthy as he claims.

David Kleiman died in April 2013 at the age of 46. Led by his brother Ira Kleiman, his family has claimed David Kleiman and Wright were close friends and co-created Bitcoin through a partnership. Kleiman's estate was suing for half of the Bitcoins in question as well as intellectual property rights.

The lawyers for W&K Information Defense Research LLC, the joint venture between the two men, said they were "gratified" that the jury awarded the $100 million in intellectual property rights to the company, which developed software that set the groundwork for early blockchain and cryptocurrency technologies.

"Wright refused to give the Kleimans their fair share of what (David Kleinman) helped create and instead took those a*sets for himself," said Vel Freedman and Kyle Roche of Roche Freedman LLP and Andrew Brenner, a partner at Boies Schiller Flexner, in a joint statement.

Wright's lawyers have said repeatedly that David Kleiman and Wright were friends and collaborated on work together, but their partnership had nothing to do with Bitcoin's creation or early operation.

Wright has said he plans to donate much of the Bitcoin fortune to charity if he were to win at trial. In an interview, Wright's lawyer Rivero reconfirmed Wright's plans to donate much of his Bitcoin fortune.
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Last edited by The Dogefather; 12-06-2021 at 04:12 PM..
+16   



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83 comments
 

 2 months ago '21        #2
Keithf87 
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+93   

 2 months ago '10        #3
Shhon  topics gone triple plat - Number 1 spot x1
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got a source?

 2 months ago '19        #4
bigpharma  topics gone triple plat - Number 1 spot x5
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 Shhon said
got a source?
any news network , they all talkin bout it
+5   

 2 months ago '17        #5
TellyHankton337 
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Craig Wright is not Satoshi and I doubt he has anywhere near 40 billion in crypto
+34   

 2 months ago '21        #6
nocomment  topics gone triple plat - Number 1 spot x1
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 TellyHankton337 said
Craig Wright is not Satoshi and I doubt he has anywhere near 40 billion in crypto
this
+7   

 2 months ago '05        #7
R4P  topics gone triple plat - Number 1 spot x1
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Him “winning” resulted in him having to pay 100million to ex biz partner
+15   

 2 months ago '19        #8
GT33D3e  topics gone triple plat - Number 1 spot x1
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 TellyHankton337 said
Craig Wright is not Satoshi and I doubt he has anywhere near 40 billion in crypto
But wouldnít the court have an audit or otherwise there would be no trial? This it, and whoever he is, rather backed by someone behind the scenes, or itís really him, regardless right on time after all these CEOís resign. Sounds like the beginning of a future that looks like Altered Carbon.

Him winning should tell you all need about who is running BTC. You really think them boyz would let this guy walk with 40 Billion in BTC?
+10   

 2 months ago '19        #9
GT33D3e  topics gone triple plat - Number 1 spot x1
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 R4P said
Him ďwinningĒ resulted in him having to pay 100million to ex biz partner
100 Million compared to 40Bil?
+27   

 2 months ago '05        #10
R4P  topics gone triple plat - Number 1 spot x1
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 GT33D3e said
100 Million compared to 40Bil?
You didnt read.

The judge ruled Satoshi does NOT owe the other guy 54billion

Craig =\= Satoshi

Satoshi wallet has not been active since 2010. There was another trial a few yrs ago where Craig admitted he didnt have the keys

So really Craig ďwonĒ by getting to ďkeepĒ ďhisĒ 54billion btc (that he cant access anyway because hes not Satoshi lol) and he also owes the other guy 100mil

Tldr; Craig ďJustinĒ Wright lost
+25   

 2 months ago '20        #11
hasdrubal 
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 GT33D3e said
But wouldnít the court have an audit or otherwise there would be no trial? This it, and whoever he is, rather backed by someone behind the scenes, or itís really him, regardless right on time after all these CEOís resign. Sounds like the beginning of a future that looks like Altered Carbon.

Him winning should tell you all need about who is running BTC. You really think them boyz would let this guy walk with 40 Billion in BTC?


+7   

 2 months ago '19        #12
OaklandSmokin 
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 R4P said
You didnt read.

The judge ruled Satoshi does NOT owe the other guy 54billion

Craig =\= Satoshi

Satoshi wallet has not been active since 2010. There was another trial a few yrs ago where Craig admitted he didnt have the keys

So really Craig ďwonĒ by getting to ďkeepĒ ďhisĒ 54billion btc (that he cant access anyway because hes not Satoshi lol) and he also owes the other guy 100mil

Tldr; Craig ďJustinĒ Wright lost
Im high as hell, this helped
+19   

 2 months ago '13        #13
jaytxxl 
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Does anybody know somebody personally that cashed in on bitcoin?? No jokes that’s a serious question. I’m tryna figure out the endgame to this like what happens when mfkas wanna get they money? Does this sh*t turn out to be an illusion like Enron??
+12   

 2 months ago '05        #14
Tha Boss  topics gone triple plat - Number 1 spot x13
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 jaytxxl said
Does anybody know somebody personally that cashed in on bitcoin?? No jokes thatís a serious question. Iím tryna figure out the endgame to this like what happens when mfkas wanna get they money? Does this sh*t turn out to be an illusion like Enron??
This. Say whoever owns that large amount goes to cash out even 100mil, that would cause a crash right?
+3   

 2 months ago '15        #15
kami  topics gone triple plat - Number 1 spot x6
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 jaytxxl said
Does anybody know somebody personally that cashed in on bitcoin?? No jokes thatís a serious question. Iím tryna figure out the endgame to this like what happens when mfkas wanna get they money? Does this sh*t turn out to be an illusion like Enron??
Crypto is a distraction for future blockchain tech.
+10   

 2 months ago '05        #16
R4P  topics gone triple plat - Number 1 spot x1
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 jaytxxl said
Does anybody know somebody personally that cashed in on bitcoin?? No jokes thatís a serious question. Iím tryna figure out the endgame to this like what happens when mfkas wanna get they money? Does this sh*t turn out to be an illusion like Enron??
Yes.
+4   

 2 months ago '17        #17
SPdaGOAT  topics gone triple plat - Number 1 spot x6
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I see y’all ain’t wanna tag @
-1   

 2 months ago '07        #18
Avon_Barksdale  topics gone triple plat - Number 1 spot x131
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 Keithf87 said

+8   

 2 months ago '17        #19
SPdaGOAT  topics gone triple plat - Number 1 spot x6
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 jaytxxl said
Does anybody know somebody personally that cashed in on bitcoin?? No jokes thatís a serious question. Iím tryna figure out the endgame to this like what happens when mfkas wanna get they money? Does this sh*t turn out to be an illusion like Enron??
I met one guy when I was in Cali that made bank but he was rich as hell and had a bunch of rich friends he would PAD coins with

 2 months ago '17        #20
Spaghettizone 
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 Tha Boss said
This. Say whoever owns that large amount goes to cash out even 100mil, that would cause a crash right?
Btc market cap is $960 billion, the crypto market on a whole is $2.3 Trillion currently

100 million is a lot but no where near enough to crash, there are still whale games being played but itís definitely becoming harder to manipulate
+10   

 2 months ago '07        #21
iTzMe!  topics gone triple plat - Number 1 spot x1
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 TellyHankton337 said
Craig Wright is not Satoshi and I doubt he has anywhere near 40 billion in crypto
No one has it, if you read the article the 1.1 million coins sit idle under “satoshi nakamoto”.

Also he didn’t win th 1.1 milliOn. He was awarded $100 Million.

The lawsuit was won against the family of David Kleiman, a deceased business partner who claimed they were owed half of the 1.1 million Bitcoin. A Florida jury found they were not owed the Bitcoin, but gave them $100 million in intellectual property rights to a joint venture between Kleiman and Wright. According to the AP, this is only a fraction of what Kleiman's lawyers asked for during the trial.
+2   

 2 months ago '13        #22
jaytxxl 
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 SPdaGOAT said
I met one guy when I was in Cali that made bank but he was rich as hell and had a bunch of rich friends he would PAD coins with
See thatís exactly what Iím suspecting. Not saying the stock market ainít no different but itís something off about the sh*t and rich friends coming together and getting richer off of it sounds like some Enron sh*t.. Whatís gon happen when mfkas want to liquidate they portfolio?? Oh we ainít got the money.
+4   

 2 months ago '17        #23
SPdaGOAT  topics gone triple plat - Number 1 spot x6
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 jaytxxl said
See thatís exactly what Iím suspecting. Not saying the stock market ainít no different but itís something off about the sh*t and rich friends coming together and getting richer off of it sounds like some Enron sh*t.. Whatís gon happen when mfkas want to liquidate they portfolio?? Oh we ainít got the money.
From what Iíve seen thatís largely what crypto is. I know some people portfolio has gone up by holding their positions on sh*t but I got the same concern as you, at anytime the whales can decide theyíre done with this and the value of the coins gonna be penny stock status
+6   

 2 months ago '05        #24
R4P  topics gone triple plat - Number 1 spot x1
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 jaytxxl said
See thatís exactly what Iím suspecting. Not saying the stock market ainít no different but itís something off about the sh*t and rich friends coming together and getting richer off of it sounds like some Enron sh*t.. Whatís gon happen when mfkas want to liquidate they portfolio?? Oh we ainít got the money.
There was another guy like you saying the Exact same thing like 8 years ago but i dont remember his name
+2   

 2 months ago '17        #25
justin747  topics gone triple plat - Number 1 spot x5
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sportsbook top 10
 SPdaGOAT said
I see y’all ain’t wanna tag @
They think this is good for the "market" even though dude is about to sell all that sh*t and TANK the prices



All these Crypto dudes would be on the casino or buying lottery tickets at the gas station every day if the world didn't shut down for Covid. These dudes are degenerate gamblers with no work ethic
-8   



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