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"They've all refused Wright's demands, though a firm called nChain Ltd is 'said to be working on a modification to the existing BSV client software, which would
by astoor 5y ago
"They've all refused Wright's demands, though a firm called nChain Ltd is 'said to be working on a modification to the existing BSV client software, which would enable someone who owns but cannot access the BSV to regain control of them.'"
Note that Craig Wright is the Chief Science Officer of nChain[0].
It seems cryptocurrency enthusiasts love irreversible transactions until they have one of their own transactions they want reversed, although if you're high enough up the pyramid you can get yourself sorted, e.g. by rewriting the client software (as in this case) or by forking the blockchain (as per Butlerin and The DAO[1]).
[0] https://nchain.com/about/ https://nchain.com/about/
[1] https://en.wikipedia.org/wiki/The_DAO_(organization) https://en.wikipedia.org/wiki/The_DAO_(organization)
- sebzim4500 5y agoIn this case though the problem isn't irreversible transactions, it is that Craig Wright does not and has never owned the coins he claims to have owned.
- astoor 5y agoJust to clarify, the article is about the court case where he wants some transactions on the Bitcoin SV blockchain reversed. The question relating to whether he is Satoshi, and therefore owns Satoshi's 1.1M Bitcoins on the Bitcoin Core blockchain, is a separate court case.
- tylersmith 5y agoHe does not want transactions reverted, he wants Bitcoin Core to change the rules of who can spend coins to allow him to make new transactions that are currently not allowed. He is implementing this in his own Bitcoin fork, Bitcoin SV, to demonstrate that it can be done.
- uncletammy 5y agoA more realistic goal is probably to get the court's blessing to authorize nchain, who maintain the only BSV client (therefore the entire blockchain) , to send Satoshi's BSV coins to Craig. This seems much easier to achieve and allows him to steal coins from all BSV holders without taking from any one BSV holder in particular. Coins previously thought lost would be reintroduced, effectively inflating the coin's supply. That's a quick and easy ~ $83M based on today's BSV price and a conservative estimate of the number of coins held by satoshi.
- lawn 5y agoHe wouldn't even need the court's blessing for it though, as they already control the hash power and the reference client (which is no longer under an open license).
- notahacker 5y agoA court effectively ruling that he was Satoshi and a fork made to award him coins was the "original" Bitcoin and possibly even ruling other forks violate his "IP" would make it much easier for him to dump those coins on speculators though. (I don't think the court will grant him any of those things, but it's not too difficult to imagine him hoping the court can provide him with more than just some coins on a PoC fork nobody uses)
- lawn 5y agoSure, it will give him some extra propaganda ammo. And with the state of the crypto scene... As you say it will probably help him dump it.
- Quindecillion 5y agoYes, all other "cryptos" are just products developed by companies who place themselves at the top of the pyramid. This is one of the key properties that makes Bitcoin so important. There is no company that administrates over it. There is no CEO. It's just a protocol. Roughly 12k computers run this protocol around the world, helping to enforce the consensus rules which have been incredibly resilient to change over the last 13 years, despite numerous attempts. It's this immutability of consensus on a decentralised network that makes Bitcoin (the token) so valuable.
- _zooted 5y agoSaying CSW represents the cryptocurrency enthusiasts seems wrong.