US Copyright Office confirms: Filing copyright claims doesn​’t justify the truth.

If you like what you read, feel free to share it:

Recently the crypto community got struck with news about Craig Wright, the self-proclaimed Satoshi Nakamoto, filing a copyright registration on Bitcoin white paper and the Bitcoin code in general. However, as many had said before – filing a copyright is just a formality.

Anyone Can Do It

The Copyright Office yesterday, July 22nd, came out with an official statement, clarifying what does it mean “to file a copyright registration”. Basically, they confirm what others had said before, hence anyone can do it. By doing that, registration of that kind does not imply a “determination of truth”. Adding that the Copyright Office does not investigate the validity of those claims. In other words, this does not mean that Craig Wright will have the last word in proving that he is Satoshi. In fact, this is nothing more than an official form which he can use in his recent lawsuits. 

“A registration represents a claim to an interest in a work protected by copyright law, not a determination of the truth of the claims therein. It is possible for multiple, adverse claims to be registered at the Copyright Office.”

Craig Wright might be subject to penalties

The Copyright Office explains that false claims might be subject to penalties. They write that when they asked Craig Wright to confirm that he is Satoshi Nakamoto, he confirmed it. How did he do it, it is not clear, but CCN says that he provided written evidence, where he plainly states that he is Satoshi Nakamoto.

“…during the examination process, the Office took note of the well-known pseudonym “Satoshi Nakamoto,” and asked the applicant to confirm that Craig Steven Wright was the author and claimant of the works being registered. Mr. Wright made that confirmation.”

However, it is not clear to what penalties might be applied, as the Copyright Office clarifies that in a case when the work is registered under a pseudonym, the Office does not investigate these claims.

“In a case in which a work is registered under a pseudonym, the Copyright Office does not investigate whether there is a provable connection between the claimant and the pseudonymous author.”

All in all, this sounds like a very tricky situation. Unless someone files another copyright claim over the Bitcoin white paper. Then they go to court and an actual investigation takes place.

Bitcoin SV pump amidst Wright’s claims

On the day when Craig Wright announced that he had filed a copyright registration, his and Calvin Ayre’s Bitcoin fork Bitcoin SV pumped almost 100%, and the price nearly doubled. BSV went from $63 to almost $120 in the matter of an hour. Was this a planned move? It seems so, because Calvin Ayre’s private news company CoinGeek published numerous bullish articles on BSV. However, being aware of the volatile market which cryptocurrency in most famous for, nothing in impossible.

Additionally, now BSV sits pretty steadily at $99 and the price and volume slowly is declining.

Craig Steven Wright along with Calvin Ayre, know how to shake the cryptocurrency ecosystem in the matter of couple hours. Let’s see how this situation will escalate. 


Photo by Wikipedia

Everything you need to know about the upcoming BCH hard fork

If you like what you read, feel free to share it:

Bitcoin Cash (BCH) is probably one of the most controversial altcoins in the market. At the moment it’s the 4th biggest cryptocurrency with a market cap of $10 billion. 

Recently BCH has experienced a slight uptrend resulting in a bit more than 50% price increase. It went from $411 to almost $633 in a matter of five days. Now it’s pulling back a little, but still, the price increase is pretty significant.

That all could be because BCH is planning to hard fork on November 15th, 2018. The fork is the result of the lack of consensus between the supporters and developers of BCH. The BCH community has divided into two groups/camps. One side (Bitcoin ABC) is Roger Ver and Bitmain. On the other (Bitcoin SV) is Craig S. Wright and nChain. 

Camp Nr.1

Bitcoin ABC, which is headed by Amaury Sechet, published a proposal for the network changes. They are willing to improve the BCH scripting language, which would enable new features. They want to include oracles and cross-chain atomic contracts in the script. Also, canonical transaction ordering plans to be implemented, which is a “technical building block that lays the foundation for massive scaling improvements in the future.” Essentially, this means that Bitcoin ABC, Bitmain and Roger Ver wants to improve the BCH script so that it can be more programmable and flexible.

Camp Nr.2

The fun starts when a week later, Craig S. Wright and nChain, which is a blockchain software development company, published a Satoshi’s Vision (SV) paper. CoinGeek supports SV.

Basically, they answered Bitcoin ABC with their own proposal, which suggests raising the block size limit from 32mb to 128mb. This proposal is called Bitcoin SV.

The third proposal.

However, there is another proposal from Bitcoin Unlimited, which is the second largest Bitcoin Cash implementation. Their proposal is called BUIP908, which combines the two propositions mentioned above, but requires miners to switch to the Bitcoin Unlimited client. You can read a more detailed technological break-down in their blog post. They explain that they tried to compromise with the two camps, but with no results. Each side of the argument believed that their proposal is best without any willingness to settle this evenly.

“I can only sadly conclude that this is again about power and ego not about technical merit and end-user adoption,” says Andrew Stone, the lead developer in Bitcoin Unlimited.

The summary

It is very rare to see a break in community’s consensus this shattered. That has resulted in a lot of confused BCH users, as the outcome of this fork is so unpredictable. There are two possible outcomes to this story. First, the BCH fork splits into two different chains, and the users receive a new token. Second, there could be no split because the second chain could lack miner support.

Major cryptocurrency exchanges such as Binance and Coinbase have confirmed support for the upcoming fork. Both of the exchanges clarify that they will be suspending BCH deposits and withdrawals couple of hours before the fork on November 15. However, Ledger Nano S has announced that they will completely discontinue the support for BCH until “there is clarity as to which fork comes out dominant.”

It is advised to keep your BCH holdings in a private wallet to ensure that your funds are safe and that you would get an equivalent amount of coins after the fork. If you keep your BCH funds within an exchange, it would be best to move those holdings to an exchange which supports the awaited fork. 


Photo by