Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
According to a recent blogpost titled, “Shades of Black…” on craigwright.net, the nChain chief scientist stated this confusing conundrum. It should be noted that the website in question, was noted by Calvin Ayre, a prominent member of the BSV camp, as containing pearls of Wright’s “wisdom.” In reference to the same Ayre tweeted:
“more wisdom from #CraigisSatoshi. I agree…once the dam breaks Segwit platform BTC will collapse quickly. Until then..mine it and buy BSV…worlds only utility platform.”
Coming to the blogpost, Wright opened by dwelling on the rules and regulations currently governing the Bitcoin world. Being an adherent of a regulatory system he added Bitcoin “need to act within the rules,” and if it deviates the “exchanges and systems” will “criminalize” everyone in the system.
To sum up, he stated:
“I designed Bitcoin to be a system that worked within the rules.”
On the topic of exchanges, highlighting Binance and Bitfinex, Wright stated that no exchange is “decentralised,” adding that such a thing does not exist. Even in the cited exchanges, single parties make “the rules,” and are “liable.” He even referenced the country hopping that exchanges implement to secure regulatory ease.
Wright, attacking Binance, stated:
“I designed Bitcoin in a way that ensures that groups such as Binance who seek to facilitate money laundering and crime will always fail.”
Critiquing the BTC developers, Wright stated that those “behind BTC” are building a system that is “friendly” to crime. He even veered away from one of the touted pillars of Bitcoin, anonymity, by claiming that if BTC is more anonymous, that would mean the cryptocurrency is moving away from its “path.”
Towards the end of the blogpost, Wright stated that the ‘possession of a key if not evidence of ownership.’ People like Gregory Maxwell, the CTO of Blockstream and James Donald, allegedly the first person who interacted with Nakamoto at a cryptography forum where Bitcoin was unveiled, aimed to create a system “outside the law.”
He further implied that possession does not equal ownership, if the possession is through theft, a similar case if “bitcoin is stolen through stolen keys.” He chided the proposal that the “possession of a key is definitive evidence.”
Craig S Wright, the “want-to-be Satoshi Nakamoto”, who is said to hold, in the region of 980,000 Bitcoins, in a cold wallet, and if true should be able to send it at will, stated that he will “sign” the wallet only “after” he provides definitive proof that he created Bitcoin.
In his words:
“I will sign after I have definitively proven I created Bitcoin. Not before.”
The onus of proof is on Wright, and this proof, to date, has fallen short of conviction, to the court and the community. If Wright is who he claims to be, by sending the crypto from the “Satoshi wallet,” he can prove it, and solve both problems.
Subscribe to AMBCrypto’s Newsletter
ErisX goes all hands on deck to launch a Bitcoin Futures market
ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.
ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.
The CSO explained the benefit of this, stating,
“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “
Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,
“… so there is some efficiency in terms of managing collateral, if you don’t have assets on multiple platforms, it can all be in our clearinghouse.”
Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,
“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”
Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.
Subscribe to AMBCrypto’s Newsletter