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 gon na 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, that this video is brought to you by a data camp where you can unlock new career opportunities and become fluent in new career opportunities.

Today, you can use my link in the description down below to check out the first chapter of any data camp course totally for free. Thank you to datacamp for sponsoring 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 sponsor youtube: datacamp for sponsoring today's video datacamp is here to teach data to Everyone at their own pace, whether you're, a beginner or an absolute pro datacamp, can help you develop new skills and stand out professionally. Here's how they do it. Datacamp is an online learning platform that makes acquiring data skills, easy and convenient.

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All this is done directly from your browser. No software is required, so invest in yourself and unlock a new world of career opportunities use. My link in the description down below and check out the first chapter of any course for free 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.