Real identity of Bitcoin founder Satoshi Nakamoto could FINALLY be revealed in courtand may unlock 36billion fortune The US Sun

pTHE real identity of Bitcoin founder Satoshi Nakamoto could finally be revealed unlocking the key to his 36billion fortune ppA UK court will now decide if Craig Wright 54 is the mysterious anonymous cryptoking who disappeared from the internet over a decade agoppWright an Australian computer scientist who lives in London has been arguing since 2016 that he is the real Nakamoto a claim largely dismissed by the cryptocurrency worldppWhoever did invent Bitcoin is sitting on an enormous stash of cryptocurrency now worth 36billion 46b which would make them one of the worlds richest peopleppBitcoin was the first decentralised currency which uses digital coins created or mined using complex calculations carried out by computersppFor years now Wright has unsuccessfully claimed to be the legendary Nakamoto and has dragged various naysayers through the courts in an attempt to be legally recognised as Bitcoins creatorppIn 2021 an organisation called Crypto Open Patent Alliance COPA filed a lawsuit against Wright in the UK petitioning the court to rule that Wright does now own Bitcoins white paperppThe trial starts today in LondonppIt is expected to last about a month and is backed by Twitter cofounder Jack DorseyppA spokesperson for Wright said the trial was really a war over who sets the rules for the Bitcoin blockchain a digital record that tracks ownership of a cryptocurrencyppHe told The Guardian Think of it as a modernday tech battle akin to that between Bluray and HD DVD or for even older readers Betamax versus VHSppA spokesperson for COPA said they are seeking a negative declaration that Wright is not Satoshi NakamotoppCOPA argued the trial will conclusively show that Dr Wright is not Satoshi Nakamoto and will not be able to continue to threaten developersppThe total value of the Bitcoin market is worth about 657billion 830bppWright offered to settle the case last month a move that caused observers to suggest he was not confident he could winppThe offer was rejected by COPA who posted on XTwitter Hard pass on that settlement as they argued it would allow him to sue people all over againppCoinbase chief legal officer Paul Grewal on behalf of COPA said If Wright were truly Satoshi it would be easy for him to prove it beyond any doubt But he cannotppHe told Coindesk Wrights trove of forged documents is at the heart of COPAs litigation that begins next week In fact two experts hired by Wright himself have already acknowledged that many of Wrights documents are forgedppThe true identity of Nakamoto has become cryptos most enduring mysteryppTHE man the myth and the legend of Satoshi Nakamoto is sitting on a pile of crypocurrency worth 36billionppNakamoto is believed to be a pseudonym and the true identity of the inventor remains shrouded in mysterypp2007 Nakamoto worked on the first ever version of the software in 2007 and all communication to and from him was conducted via emailpp2008 The mystery man first introduced the concept of cryptocurrency and the blockchain system of verification to the world in a 2008 paperpp2010 His involvement with Bitcoin ended in 2010 and his last correspondence was that he had moved onto other thingsppAnd ever since a series of characters have claimed or been accused of being Nakamotopp2014 Newsweek thought they had found their Satoshi Nakamoto a computer engineer living in Temple City in Los Angeles CountyppAnd while the JapaneseAmerican man named Dorian Satoshi Nakamoto firmly denied he was the shadowy force behind the infamous cryptocurrency the plot continued to thickenppIt soon emerged that computer scientist Hal Finney who was the recipient of the first Bitcoin transaction lived a few blocks from the seeminglyoblivious NakamotoppHowever people later believed that Finney was either a ghostwriter for the Bitcoin creator or simply used his neighbours name as a monikerppThe other best known Nakamotosuspect is Australian computer scientist and businessman Craig WrightppBut unlike the other leading contenders Wright began actually claiming he is Nakamoto in 2016pp2016 Wright said he provided technical proof to the BBC The Economist and GQppThis consisted of a demonstration of the verification process used in the very first Bitcoin transactionppHe then posted an apology on his blog stating that he no longer had the courage to continue the process of proving his identityppWright subsequently appeared in Netflix documentary Banking on Bitcoin and once again claimed to be Nakamoto in what he said would be his final filmed interviewppHowever he has continued to try and legally battle to prove he is the Bitcoin founderppAnd whether he is or not might finally be decided at a trial starting this weekppThere was a false unmasking by Newsweek in 2014 which followed with Wright later stepping forward in 2016 alleging to be its true creatorppIn 2016 he provided what he called technical proof to the BBC The Economist and GQ which consisted of a demonstration of the verification process used in the very first Bitcoin transactionppBut The Economist claimed such demonstrations can be stagemanaged and reported Wright refused to make the proof public and to provide other assurancesppWright has also failed to provide the private keys a secure code consisting of a hexadecimal string of numbers and letters that would finally unlock the 11million Bitcoins mined by Nakamoto ppHe told a Norwegian court in 2022 that he had destroyed the computer hard drive that held the keysppThe same year Wright managed to win a legal victory over blogger Peter McCormack who was found to have caused harm to Wrights reputation by labelling him as a fraudppHe was awarded damages of 1 by the judge who also ruled that Wright had given deliberately false evidence to support his libel claimppIn 2021 the family of Wrights former business partner David Kleiman who died in 2013 sued himppThey argued that Kleiman worked on and mined bitcoin together with Wright entitling him to half the fortuneppAfter an intense legal battle a jury in Florida ended up awarding nothing to Kleimans estateppBELOW we round up five risks of investing in cryptocurrenciesppConsumer protection Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond antimoney laundering requirementsppPrice volatility Significant price volatility in cryptoassets combined with the inherent difficulties of valuing cryptoassets reliably places consumers at a high risk of lossesppProduct complexity The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks There is no guarantee that cryptoassets can be converted back into cash Converting a cryptoasset back to cash depends on demand and supply existing in the marketppCharges and fees Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment productsppMarketing materials Firms 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