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Bitcoin SV’s Craig Wright warning people about “unexpectedly” receiving Bitcoin

Namrata Shukla



Bitcoin SV's Craig Wright warning people about "unexpectedly" receiving Bitcoin
Source: Pixabay

Bitcoin SV [BSV]’s popular proponent Craig Wright is seen voicing his opinion on most of the happenings in the cryptocurrency market. Wright struck again to advise people about the event when an account is credited with Bitcoin by mistake. Wright wrote:

“1. Did you know…If you unexpectedly receive a bitcoin payment (e.g. tracking dust) you cannot legally spend it unless there is an Op_Return assigning it to you or some other authorisation. Getting a bitcoin is possession not ownership… And this comes with issues”

Wright marked the section 24A of the UK Theft Act 1968 and section 2 of the Theft Amendment Act 1968. Wright explained that if the recipient fails to return the received amount to the sender, he could be registered under the aforementioned act. He further explained:

“…If the address is not touched, you have some defense to the charges. But… if you spend the recieved coin, you have dishonestly taken a wrongful credit”

The BSV proponent also notified that even though marking the transaction as a donation will mitigate it, the coin will still be taxed as income, unless “you are a registered charitable organization”.

As Wright mentioned in one of his tweets, the offense here will be retaining the credit rather than making “reasonable steps to cancel it.”

Wright, who is also known as Faketoshi for claiming to be Satoshi Nakamoto, the founder of Bitcoin, claims BSV as the true Bitcoin. On the tenth anniversary of Bitcoin Genisis block, BSV unveiled the new logo. The logo surprisingly has similarities with Bitcoin [BTC] logo.

Ever since the BCH hard fork that led to the formation of BSV, Wright has been a known critique of Bitcoin [BTC] and has not left a single opportunity. As of January 3, Wright took to his Twitter handle to criticize Andreas Antonopoulos, a Bitcoin advocate.

Wright, along with Calvin Ayre, has been promoting BSV as one true coin and have always talked about how BSV is all about scaling.

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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.