The words were there in black and white at the end of this article “Careful What You Wish For“.
“I was Satoshi”.
Dr Craig S Wright has outed himself (a second time) as the person behind the name Satoshi Nakamoto and as the person who invented Bitcoin.
To my surprise this announcement didn’t change anything in regards to Crypto markets. There was the usual backlash from the BTC and BCH loyalists who react to any news about Craig Wright as a scam. Other than that, it was another day in Crypto.
So, let’s dig deeper. Why would Craig Wright claim to be Satoshi in 2019? One answer is that he had no choice. He’s being sued for a 1.1 million Bitcoins (3.5 Billion USD) in this lawsuit filed by Ira Kleiman, the brother of Dave Kleiman. Dave was Craig’s partner in creating Bitcoin. Since the court documents will be public and will show Craig’s involvement in Bitcoin prior to 2009 it’s possible Dr Wright is getting ahead of the game by owning his role as Satoshi Nakamoto.
Now that Dr Wright has made this statement he’s opening up about the history of Bitcoin, his original design and the mistakes made along the way.
What we’re seeing as more information is released is that Bitcoin was in development for 20+ years. The blend of technical, legal and economic knowledge required to produce a decentralized, nearly instant and resilient cryptocurrency is unfathomable. Mastery of any one area would be a lifetime of work. Somehow it seems Dr Wright has mastered them all and keeps on going. Among his achievements are many university degrees and a recent statement that he’s been awarded his 1,000th patent. Incredible if true. I am confident Dr Wright will be in your children’s textbooks next to other geniuses of the past 100 years.
Take a look at his Medium page where Dr Wright has released a new article almost daily for most of 2019. Much of what has been written there is game changing when digested properly. It takes a lot of work just to understand what’s being shared there but once you do you begin the journey down the endless rabbithole that is Bitcoin. You are seeing a genius at work.
Say what you will about Dr Wright, much of the criticism about his communication is valid, he possesses an incredible, hardworking intellect. No one knows Bitcoin as well as he does.
Bitcoin SV is the only version of Bitcoin that Craig Wright supports with his numerous patents and where he focuses all of his time and effort. Dr Wright has shared his vision for Bitcoin numerous times. Bitcoin is an immutable ledger. A commodity ledger. An affordable place to store information in perpetuity.
What arises from Bitcoin as a shared global ledger is Metanet. Metanet becomes the new source of truth in the world because the information on Metanet has value. That’s a bold and slightly abstract statement. Let me rephrase this as every device, electronic or not, can be valued, tracked and be part of a global system. This is BIG data on steroids but with more privacy.
This ledger functionality includes moving the entire Internet to Bitcoin. As of today websites exist on Servers in datacenters. In the future that data will reside in Bitcoin transactions. Here’s a simple example:
Metanet is access to integrity in human behavior. When what happens is assigned value than what’s valuable is what’s happens, and everything else fades away.
Bitcoin is information. Information is money.