Craig Wright wins dispute over $50B in Bitcoin • Hacker News Board

Re: Craig Wright wins dispute over $50B in Bitcoin

#21

Post by midmagico » Wed, Dec 08, 2021, 4:13 AM UTC

admn2 wrote: post #6

g42gregory wrote: post #2

I totally agree with the skepticism that he is Satoshi Nakamoto. But the fact alone that he owns 1.1 million Bitcoin? How do we explain that? This make me curious, to say the least.

I'm confused by this too. Sounds like he's only believed to be the owner of the original 1 million BTC. I think until he actually moves 1 coin, most people remain very skeptical. Can someone correct me? I guess that would bring into question what he was being sued for if there wasn't definitive proof.

Nobody believes he owns any of those Bitcoins except easy victims and paid shills (and they merely pretend to.)

Re: Craig Wright wins dispute over $50B in Bitcoin

#22

Post by yunohn » Wed, Dec 08, 2021, 11:06 AM UTC

_zoltan_ wrote: post #5

bob446 wrote: post #4

Who cares. Nothing has ever been less consequential than crypto nonsense

I don't think you could be further from the truth. Just flat wrong. Look at DeFi. Look at all the apps that are being written on blockchains. Sure, there are scam projects, but a lot of genuinely great ideas are being developed. For example nobody used AMMs until Uniswap started doing it and now they are the norm.

> nobody used AMMs

Well yes, and they still don’t? I can’t find any non-crypto user from googling. Can you source that they’re the “norm” for market making now?

Re: Craig Wright wins dispute over $50B in Bitcoin

#23

Post by mrkramer » Wed, Dec 08, 2021, 6:59 PM UTC

nullc wrote: post #20

mrkramer wrote: post #19

Earlier quoted context omitted.

I think he can't move bitcoins because he has them in multisig wallet or Satoshi group has them in multisig wallet. So all or more than one member must sign their keys in order to move bitcoins from joint wallet.

That is entirely inconsistent with his sworn statements in court proceedings. And if you're going to adopt the premise that he's lying in court, why accept any thing he claims? Moverover, I think you missed my point: It's not just that he can't sign, but also that other people can sign addresses that he claims are his. There isn't just negative evidence (absence of expected proof) but positive evidence (conclusive pr…

I didn't follow the case in details but private keys can get lost or stolen so you might own particular wallet addresses in the past but now you are not in control of those private keys anymore therefore wallet addresses as well.

The same thing can happen with your state issued ID card which might get lost or stolen so then you need to report it to police for security reasons and to the government to get a new one. Unfortunately you can't do that with Bitcoin pk/sk wallet address. If you lose your private keys or if they get stolen there is no way to obtain control again of your wallet addresses unless police and court does that for you. I read Craig wants to do exactly that by reorging the Bitcoin chain but that is not happening because if it happens Bitcoin price would go to 0 and his million and something bitcoins would become worthless.