There’s never a dull day in the cryptocurrency realm, especially with the likes of Calvin Ayre and Craig Wright. The BSV proponents have been issuing notices to several prominent players in the cryptocurrency community for accusing Craig S Wright of falsely claiming to be Satoshi Nakamoto.
Peter McCormack, the host of the WhatBitcoinDid podcast, is one of them. McCormack received a letter from Ayre and Wright on April 12, instructing him to withdraw his previous tweets accusing Wright of being a fraud, refrain from repeating those statements, and apologize to Wright via a tweet and in an open court statement.
McCormack took on the legal challenge, tweeting,
“I believe that claiming to be Satoshi and promoting a fake version of Bitcoin is fraudulent. I believe this is in the public interest. Let’s go to court.”
The larger cryptocurrency community firmly backed McCormack, providing him with financial support and even donating Bitcoins [BTC] for his legal troubles. Returning the favor, McCormack appealed to the community to donate to @hodlonaut’s crowdfunding campaign. @Hodlonaut is another target of Ayre’s legal notices.
On April 14, McCormack formally replied to Ayre’s letter, by issuing his own. The letter, hilariously curated, reiterated McCormack’s earlier statement that Wright is a fraud and is falsely claiming to be Satoshi Nakamoto.
The podcast host stated that he had a team of “15 lawyers” willing to represent him on a pro-bono basis. Mimicking Wright’s approach of exulting himself, McCormack referred to himself as,
“The King of Bedford, respected Mommy Blogger, Thought Leader, Nobel Winner, Grammy Nominee, Dolphin Trainer, Instagram Influencer, Giraffe, Tech Titan, Lord of the Dance, and “Recognized” journalist.”
McCormack’s letter alleged that what Craig Wright was claiming to portray, and claimed to have done during the emergence of Bitcoin in 2008, were completely false. The letter read,
“He did not play an integral part in the development of Bitcoin; it is highly questionable that he can in face code. He did not produce the report ‘Bitcoin: A Peer-to-Peer-Electronic Cash System in October 2008’ He did not send the first Bitcoin to Hal Finney in January 2009 and did not play an integral part in the development of Bitcoin.”
Addressing Wright’s legal counsel with respect to the defamation charge, McCormack said that the “burden of proof is on your client to prove he has suffered serious harm as a consequence of the alleged defamation”.
McCormack listed his own set of requirements that Wright must adhere to prove his claims. Firstly, evidence, besides the “same nonsense he has published time and time again” to prove that Wright is, in fact, Satoshi Nakamoto. Or else, Wright should delete all “online publications” that claim he is the Bitcoin creator and never repeat the “fraudulent claims”, McCormack stated. Wright must also agree to write “an apology to everyone in Bitcoin”, stop “issuing bullying letters”, and cease his legal pursuit of Hodlonaut, he added.
McCormack further added that he is “prepared to wave the entitled to damages and costs” if Wright adheres to the above instructions. McCormack will “pursue proceeding against” the Bitcoin SV spearhead, if these are not adhered to, or if he doesn’t get a response by May 7.
The letter concluded,
“His attempts to silence and bully people to protect his fraud and lies is an attack on Bitcoin. I have a large and experienced legal team, and we are ready, willing and excited by the prospect of going to court and once and for all exposing Craig Wright for the fraud he is.”
Ayre’s behaviour has been categorized as “bullying” by many. Binance CEO Changpeng Zhao attested to Craig Wright being a “fraud” and even threatening to delist Bitcoin SV. Anthony Pompliano, went one step further, appealing to all exchanges to “delist BSV”.
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Bitcoin SV surges by 6.84% in an hour; community speculates massive behind-the-scenes pump
The cryptocurrency market has witnessed major price hikes over the past few weeks, with Craig Wright’s Bitcoin SV emerging as the market’s unlikely performer. The Craig Wright-backed virtual asset, which is supposed to follow Satoshi Nakamoto’s original idea, outperformed every top 10 cryptocurrency over the past week, recording a growth rate of 22.86%.
At press time, the coin had recorded a price hike of 6.84% over the hour, with the coin valued at $228. The coin was traded the highest on CoinBene exchange, where the trading pair of BCHSV/USDT gathered a volume of $96 million. The exchange was closely followed by ZBG exchange, where the trade accounted for 13.62% of the entire trading volume.
According to the chart released by Trading View, a massive green candlestick can be observed. The chart also indicated that at press time, the candles were charting over the Moving Average [MA]. This suggested that extremely high trading volumes were pegged with Bitcoin SV.
Many in the community have speculated that the surge might be due to a massive dump of the coin in the market, after the token hit stagnation since pumping by more than 247 percent recently. The aforementioned price pump pushed the price of the coin from $53.22 to $250.
Previously, it has been suggested that the major pump witnessed within the Bitcoin SV ecosystem might be laden with market manipulation, implying the participation of illicit entities in the conduct of a “pseudo-pump” of BSV’s market. Further, the de-listing of BSV by major exchanges such as Binance may have made it more susceptible to sudden price movements, according to some.
At press time, Bitcoin SV was positioned 8th on the cryptocurrency charts. Despite the pump however, historical trends suggest a major price correction may be in the offing too.
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