Bitcoin SV Skyrockets after Craig Wright Files U.S. Copyright Claim for Satoshi Nakamoto Whitepaper
Bitcoin SV (BSV) doubled in value on Tuesday after Craig Steven Wright, the self-styled Satoshi Nakamoto, submitted a copyright claim for the original BTC whitepaper penned in 2008. While hardly a reliable source on the matter, pro-BSV publication CoinGeek says the U.S. Copyright Office has officially recognized Wright as the creator of bitcoin.
BSV Price Update
The value of BSV skyrocketed Tuesday, printing highs near $140.00 shortly after 09:00 UTC, according to CoinMarketCap. BSV was up more than 102% before paring gains later in the session.
At the time of writing, BSV was up nearly 62% at $100.01. Trade volumes were reportedly worth $628 million, with Upbit, Dcoin and OKEx processing the largest share of the transactions.
At current values, BSV has a total market capitalization of almost $1.9 billion, placing it 12th on the active market leader board. It trails Tron (TRX) by less than $100 million.
Wright Registers Original Bitcoin Whitepaper
CCN reported Tuesday that nChain chief scientist and BSV proponent Craig Wright has officially filed copyright registrations for the original bitcoin whitepaper and code used to build the distributed network. By registering the whitepaper and code, Wright is once again pushing the idea that he is Satoshi Nakamoto, the famed pseudonym that created bitcoin more than a decade ago.
The two registrations were filed in mid-April.
“The registration recognizes the author as Craig Steven Wright, using the pseudonym Satoshi Nakamoto,” the first registration read.
“The registration recognizes the author as Craig Steven Wright, using the pseudonym Satoshi Nakamoto. Wright wrote most of version 0.1 of the Bitcoin client software, and the registration covers the portions he authored,” the second one read.
Of course, this doesn’t validate the claim that Wright is Satoshi. As CoinCenter executive Jerry Brito tweeted, “registering a copyright is just filling a form.”
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
In other words, “registration is not proof of anything.”
To be clear, don’t register works that aren’t yours. 🙂 My point was simply that because anyone can register any work, and claims are not investigated by the Copyright Office, registration is not proof of anything. It is just notice to the world that one is *claiming* copyright. https://t.co/xOcyqVHX74
— Jerry Brito (@jerrybrito) May 21, 2019
Wright’s so-called “Satoshi Vision” blockchain tanked the cryptocurrency market back in November by permanently splitting from bitcoin cash (BCH). A hash war ensued, with BCH emerging victorious in the battle for mining supremacy.
A little bit of background on the November hard fork:
“The anticipated hard fork of bitcoin cash … is as much ideological as it is technical. Bitcoin cash ABC, the leading implementation backed by Roger Ver and Bitmain founder Jihan Wu, is said to be a full node implementation of the existing BCH protocol. As such, it will introduce significant upgrades, such as atomic swaps. Backers of bitcoin SV, on the other hand, believe their implementation is a better representation of Satoshi Nakomoto’s original vision. This means raising the block size from 32 MB to 128 MB.”
The market has not taken kindly to Wright’s grandiose claims. Several exchanges have delisted BSV, with Binance CEO Changpeng Zhao outing Wright as a “fraud.” In addition to Binance, Kraken and ShapeShift have also stopped supporting BSV.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock. Charts via CoinMarketCap