The Scummy 'Founder' of Bitcoin | What you MUST Know.

hey everyone me kevin here in this video

you're going to get a complete and

concise breakdown of what exactly is

going on with the quote-unquote scummy

founder of a bitcoin craig steven wright

nobody actually believes he's the

founder but we're gonna go through the

story of satoshi nakamoto and talk about

all the things that you need to know to

make this easy to follow along as well

we are going to use a flowchart so that

way you can listen and follow along with

your eyes if you want to make it easy

because it is a little bit tricky to

follow along i do want to mention though

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this video okay folks let's get right

into

the flowchart all right background first

of all this is hated like people in the

crypto community want this whole

founder of satoshi nakamoto crap to just

die and go away most people in the

crypto community don't want to see the

founder of bitcoin unmask and that's

because that person would have too much

power too much control of bitcoin the

best case scenario is that satoshi's

bitcoin are forever locked away and

never touch but there are expected to be

somewhere between a thousand and ten

thousand different original satoshi era

wallets that contain cryptocurrency like

bitcoin this is a lot now it's also

worth noting that if this bitcoin this

original 1.1 bitcoin one coin excuse me

1.1 million bitcoin is ever released

into circulation it's entirely possible

that the price of bitcoin could fall

because there would be so much more

available of it now also worth noting

for the future of bitcoin that even

though satoshi nakamoto was

deemed to essentially be the founder of

a bitcoin we don't know if it's an

individual person or group of people and

it's also worth noting that we don't

really need satoshi right now this is

why most people just want this project

to or this this concept about who is and

unveiling satoshi to just go away most

new code today is written by open source

developers whose identities are known

satoshi's really just not critical at

this point it's mostly a thing of

curiosity and concern that what if the

price of bitcoin falls if craig wright

is the owner of all these wallets and

then starts dumping them onto the market

for whatever purpose right now we'll

talk more about that in just a moment

but for right now let's talk about the

lawsuit in florida so craig wright

claims that he invented bitcoin uh and

the claim is uh and others claim that

that he invented this with dave kleinman

in tooth or with his partner dave

kleiman however dave kleiman died of

mers complications of mrsa complication

in 2013

and his estate as a result claimed that

craig is responsible for giving half of

that 1.1 million bitcoin to the estate

of dave so whoever dave is since dave

died

now the estate argues hey we deserve

half of all the bitcoin that satoshi

holds

and if craig and dave co-founded uh

bitcoin and they're collectively satoshi

then the

argument in fairness is that the estate

of dave would be eligible to claim half

of the 1.1 million bitcoin that satoshi

is believed to hold

now craig argues that nope i actually

never had a partner i founded bitcoin

all alone and in this lawsuit in florida

the jury does not say that craig founded

bitcoin the jury simply says that hey

craig you definitely stole at least 100

million dollars from dave give it back

that's it now craig argues that even

though he was sued for having to give

one half of 1.1 million bitcoin to the

estate and he was cleared of those

charges craig is arguing hey i've been

vindicated obviously i'm the founder of

bitcoin but that wasn't what the case

was about the case was about the case

may have started that way as uh the

estate claiming hey we want half of all

the bitcoin that satoshi has but craig

ultimately only got charged with hey you

got to pay back 100 billion dollars

worth of bitcoin because you're a thief

and a liar that's literally what the

jury ended up saying i've got the quote

written down here somewhere so

the bottom line of the case is that the

case did not prove that craig is satoshi

we do not know who satoshi is still we

also don't have proof that craig has

access to the wallets so it's going to

be interesting to see where his 100

million dollars comes from but let's go

through some of the other details here

so craig apparently is a computer

scientist australian born supposedly

co-founded bitcoin now he argues that

he's the sole founder and he started

making this claim in 2016. so it's not

like he's been making this claim since

the origins of bitcoin back in the

financial crisis

the estate again sued uh for half of the

1.1 million bitcoin but again they won

only 100 million dollars in provable

theft now to bloomberg craig argues the

jury here found that i'm obviously

satoshi

that's his claim but

later the court came out and issued a

statement making it very clear that that

is not what this case is about

and in fact this case was so blurry that

even up to six days ago the jury was

uncertain what kind of verdict to come

out with and they only ultimately came

out with a verdict that craig stole from

his dead best friend with forgery and

lies there's a lot more to talk about

especially what the implications are for

bitcoin in the event that craig wright

is indeed satoshi nakamoto we're going

to talk about all of that and what

researchers have found out in just a

moment but first a message from our

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and then of course now he's arguing that

dave kleiman was never his partner

anyway and that was argued in court as

well anyway satoshi of course is a

pseudonym used again by a person or

group of people from the original

bitcoin white paper in 2008. it's worth

noting that uh craig wright's a little

bit of a sus character he loves lawsuits

he uses english libel laws to sue people

who say he's a fraud liber is a form of

basically slandering somebody in in a

written format

he's even served notices to vitalica

buterin founder of ethereum who's called

him a fraud

and some people in the crypto community

and uh well i would say probably most of

us hate lawsuits so it's kind of ironic

that somebody who's like

supposedly so all in on crypto uh wants

to sue people for slander and libel i

mean he did the same thing with

bitcoin.org i have that written down

here it is yep earlier in 2001 he 2021

i'm sorry that's this year he sued

bitcoin.org to remove the hosting of the

original bitcoin whitepaper claiming

copyright infringement which is really

ironic given again the community's

aspect of fairness and transparency and

openness right i mean that's like the

basis of bitcoin

uh anyway jurors took about a week after

a three week trial to come up with a

verdict to reach a verdict

worth noting a little bit of background

about satoshi and then we'll talk about

the coins and sort of what's next

satoshi cut off communications in april

of 2011. we believe that he's very

likely in english from an

english-speaking country because of his

skill level in the english language he

claimed to be a male and from japan born

on april 5th 1975 and originally he

would email communications with the

first users of bitcoin and then all of a

sudden he disappeared now there are

rumors that maybe two other people or

and there even others as well but the

two most probable or potentially

prominent uh actual satoshi's

might be how finney how finney was the

recipient of the first bitcoin

transaction which we can track back he

died in 2014 though

he denied that he was satoshi and he

died of complications of als so

potentially well most likely not

something suspicious but anyway despite

this uh when alfini was suspected of

being satoshi he was swatted that's when

like swat teams get sent to your house

because somebody calls in a false police

report that that something violent is

happening uh he was threatened

anonymously uh people demanded thousands

of bitcoin from him and he was also

active in the original communities back

in the 90s that ultimately ended up

working together uh in in many different

crypto related projects throughout the

late 2000s and being early members of

the bitcoin community

then you have nick a sabo this is an

interesting one and the new york times

is a whole piece on this individual uh

and there's so many bits on this person

but anyway this is somebody who created

bit gold years before bitcoin he was

also active in the cipher funk community

not to be confused with crypto punks the

nfts uh he has he's been

or has been deemed to have similar

writing mannerisms and communication

times as satoshi and there's another

research piece here from uh a university

about his writings we'll get to in a

moment

a lot of parallels identified and in

2015 the new york times put together a

massive piece on satoshi and they

believe that nick sabo is one of them

the ones but most sort of hints lead to

which of course he denies in 2014 for

example he worked at a bitcoin company

or crypto company called varun and he

kept his identity private there but when

he was discovered he actually ended up

quitting his job because he started

getting way too much publicity and he

does not want that publicity there were

a lot of co-workers who definitely think

he was involved in bitcoin because he

had some incredible knowledge as well uh

when they were working on these projects

he was confronted by the new york times

at a bitcoin event in 2014 he

acknowledges that there are a lot of

parallels between him

and satoshi but says that's because bit

gold has a lot of parallels to bitcoin

in 2014 researchers at ashton university

in england compared the writings of

satoshi to nick sabo and they found the

similarities quote uncanny and the year

before bitcoin was founded sabo

frequently wrote about smart contracts

and digital money and the financial

crisis motivated him to work on

cryptocurrencies

now let's talk about the money we

believe that there are about 10 to

actually 20 000 wallets i may have said

10 000 earlier my bad 20 000 wallets

that contained bitcoin from the first

transactions potentially as many as 1.1

million of which would be controlled by

satoshi many of these wallets including

the largest one have been dormant the

largest one contains about four billion

crypto and you can actually pull up that

address i've got a screenshot of the

address right here for whoever was

interested in that you have to copy that

one over one wallet uh that contains a

616 bitcoin or about 30 million dollars

worth of uh bitcoin was mysteriously

activated on september 18 2021 and then

all of those coins removed but most of

these early age wallets that haven't

been active since like 2008 to 2012 have

not been actively used and are deemed to

be part of well satoshi's ownership not

all of them obviously there are a lot of

people who actually still have their

wallets from these times but a lot of

this original 1.1

million bitcoin set uh has been very

dormant and so people are watching these

regularly we also know that there is an

original genesis block oops misspelled

that genesis block which was the first

block ever recorded

and because it can't reference a prior

block balance it is hard coded into

bitcoin and you can actually track that

unspendable original 50 50 btc and that

block was created on january 3rd 2009

which is essentially the founding of

bitcoin

gavin andreessen a uh chief scientist at

the bitcoin foundation backs mr wright's

claims saying that he bought a windows

laptop with him installed the electrum

wallet and then right signed an

arbitrary message with a key from an

early block an or one of the early

satoshi era blocks and then the signed

message was put onto a usb stick move to

a new laptop and validate it and that's

why gavin believes that mr wright is

actually a legitimate

potential candidate as satoshi now mr

wright

also posted other signatures on his

blocks but a lot of folks argue that you

could just google this information and

that mr wright doesn't really have

anything proprietary so mr andreessen

while he kind of still believes mr right

kind of feels bamboozled and or suggests

that maybe he was duped

and so this is why people are ultimately

just calling on craig wright to just

spend the bitcoin that would be the

ultimate proof that he is satoshi

because the only answer would be is if

somebody actually controlled the wallets

and then moved money out of them then we

would know who the owner is or we would

at least know that the owner is active

which again most of these wallets have

been incredibly dormant mr right now

promises to donate much of his fortune

to charity because again he's implying

that he is satoshi there is a video on

twitter of him saying he feels

vindicated and that there are more

fights ahead that the original

inventions that he worked on uh like

creating real digital cash are going to

be his new big priority he originally

designed architecture for an online

casino though he talks about wanting

digital cash to be the greatest and new

priority for him in 2004 it's worth

noting he was convicted of contempt of

courted whales he was also the ceo of a

tech firm hot wire intelligence

co-founded de morgan limited a

cryptocurrency company and ultimately

now

we're all just going to be watching and

waiting to see what happens with these

wallets and that my friends is the story

of satoshi nakamoto at least as far as

we know it today thank you so much for

watching and folks we'll see in the next

one