English Court Ruling Concludes Craig Wright Is Not Bitcoin Founder Satoshi Nakamoto

Justice James Mellor of England’s High Court of Justice has ruled that Australian computer scientist Craig Wright is not Satoshi Nakamoto, the unknown founder of the Bitcoin network. In a landmark ruling, Justice Mellor concludes that Wright “extensively and repeatedly” lied about his claims to Bitcoin.

The judge’s 231-page ruling, delivered on May 20, accuses Wright of using his IT security expertise to present forgeries he thought would go undetected. According to the judge:

“In both [of Wright’s] written evidence and in days of oral evidence under cross-examination, I am entirely satisfied that Dr Wright lied to the Court extensively and repeatedly… All his lies and forged documents were in support of his biggest lie: his claim to be Satoshi Nakamoto.” 

Bitcoin and its Unknown Origin

Bitcoin, the world’s most popular cryptocurrency, has seen increased use and adoption as a peer-to-peer cash system, as intended by the real Satoshi, but also for other functions like cross-border transactions and gambling on a BTC casino. The network’s popularity and strength have attracted several people who have claimed to be Nakamoto, such as German entrepreneur Jörg Molt. Other names associated with Bitcoin’s creation include Wei Dai, Nick Szabo, and Hal Finney.

Justice Mellor’s judgment also mentioned injunctive relief, which would block Wright from claiming he is Satoshi Nakamoto. The injunctive relief will also prevent Wright from any related legal actions in the future. However, while Justice Mellor noted that he was urged to decide on all questions of relief, he preferred to defer until after a Form of Order hearing following the judgment.

Wright has previously sued people who have called out his Nakamoto claim. Interestingly, Wright recently dropped an appeal against Norwegian Bitcoin enthusiast Hodlonaut, seemingly ending a five-year legal battle. The case began after Hodlonaut used the words “fraud” and “scammer” to describe Wright for claiming that he invented Bitcoin.

Pros and Cons of Bitcoin’s Decentralization

The Wright case highlights issues with Bitcoin’s decentralization and anonymity. Using Bitcoin, people can send and receive funds without worrying about government intervention or limits on transaction size. In addition, the lack of centralized control significantly expands access to the Bitcoin blockchain so that anyone with an internet-enabled device can buy and use the crypto. This means that Bitcoin substantially helps improve financial penetration and access, banking any country’s unbanked and underbanked populations.

Unfortunately, Bitcoin’s risks are worsened specifically by decentralization. For instance, Bitcoin suffers from scalability issues since transactions require validation by multiple nodes. The network can quickly become congested when there are many simultaneous transactions, causing a spike in fees.

Decentralization also worsens security risks. Although the feature enhances security by distributing the network, users are still responsible for their security. Also, decentralization makes Bitcoin easily used for crimes like money laundering. Consequently, all Bitcoin users, whether sending money across borders or playing crypto poker at an online casino, must be cautious when sending and receiving funds, and learn how to ensure the personal security of assets. 

Conclusion

Although most Bitcoin community members have since dismissed Wright’s claims to Bitcoin, the new judgment proves that the Australian scientist’s forgeries suggest ulterior motives. In general, the case serves as a reminder that the Bitcoin network’s decentralization, and Nakamoto’s anonymity, are attributes that can be deliberately misconstrued in the wrong hands.