Satoshi Nakamoto and the Tulip Trust

[vc_row][vc_column][vc_column_text]

INTRODUCTION

Perhaps you have heard of the name Satoshi Nakamoto. It is the pseudonym of the enigmatic inventor of Bitcoin. Supposedly, Satoshi released bitcoin in January 2009 and has since become the most popular digital currency in the world. In the early days, this mysterious inventor published an article that went in lengths to describe what Bitcoin is all about under the title: “Bitcoin: A Peer-to-Peer Electronic Cash System.” This is today known as the bitcoin whitepaper.

The article describes the fundamental principles of bitcoin, as well as, the instruments and procedures that make Bitcoin what it is. Such instruments described in the whitepaper include Proof-of-Work (POW) and the cooperation between miners to underwrite transactions to the Bitcoin blockchain as quickly as possible. These two fundamentals are central to the security of bitcoin. Another rule described in the whitepaper is ‘the halvening rule.’ The rule dictates that there is a 50% reduction in block rewards for miners upon reaching 200,000 blocks.

According to Satoshi, Bitcoin is the longest chain. Taking note of Satoshi’s remarks is essential to the reader to understand that Satoshi was not all out opposing hard forks to guarantee Bitcoin’s safety.

There is a pervasive misapprehension that ‘a forked chain’ cannot possibly be the first bitcoin. However, Satoshi presents a different idea in the whitepaper that it is possible that a ‘forked chain’ can be the original bitcoin if they have sufficient hash-power. In an excerpt from the white paper, Satoshi states that proof comes from the pool with the highest power as long as the nodes are working in harmony by not attacking the network. This helps them generate a long chain that outpaces attackers, therefore, enhancing security.

The purpose of this article.

Currently, there are three different networks based on Bitcoin;  Bitcoin ABC, Bitcoin Core, and Bitcoin SV. Bitcoin represents a much detailed concept than most people would think. In this article, the proper proof is given that states Craig Wright is part and parcel of the initial Satoshi Nakamoto team that invented Bitcoin and also that, Bitcoin primarily exists in main form as Bitcoin SV.

INVESTIGATING THE PAST

Here is a succinct overview of Craig Wright’s past, his relation, and connection to the ATO (Australian Tax Office), as well as the information in the ‘Tulip Trust’ document. All these are pertinent to our conclusions in this article.

Craig Wright, originally from Australia,emigrated to London in late 2015.

The Australian tax authorities brought to the public a transcript of their interview with Craig Wright and his acquaintances in 2014. From the transcript, several questions were raised emanating from the numerous occasions of mentions of ‘Bitcoins’. An excerpt from part of the transcription document by the Australian Tax Office confirms that Dr. Wright was involved in disputes with the tax authorities on information related to defense. The conflict lasted for quite some time, approximately two years from 2009 to 2011.

The full transcript can be found here: https://www.documentcloud.org/documents/2644012-20140218-Transcript-Redacted.html

The Info Defence Research LOC cited by the ATO refers to W&K Info Defense Research. Public records in Florida indicate that W&K was established in 2011 in Palm Beach County. Also, the location of business of W&K is indicated as Kleiman’s home address and Dave Kleiman is its enumerated agent. It is well to assume that the W&K are initials standing for “Wright &Kleiman”. The main operation of the business was to mine bitcoins.

Satoshi Nakamoto was a group of people joining together to build the first version of bitcoin and not a person. Craig Steven Wright is the presumed leader of the group working under this pseudonym.

A media exposé in late 2015 put Craig Wright at the center of attention after Gizmodo published an investigative article titled: “This Australian Says He and His Dead Friend Invented Bitcoin”. Emails were leaked and used to back up proof that Wright is indeed the mysterious Satoshi Nakamoto.

The article also digs up on Dave Kleiman, who is allegedly the main coder/developer. Kleiman, a paralyzed computer forensics guru from Florida is also assumed to be a big player in team Satoshi Nakamoto. Kleiman, died in 2013 but his brother, Ira Kleiman, is pursuing justice by suing Wright for not less than 300,000 bitcoins. The Kleiman and Wright litigation continue to drag on, with reports as recent as December 28, 2018 indicating that Wright is required to respond.

The Gizmodo investigation unearthed many details from Wright’s past, including leaked emails and a document known as ‘The Tulip Trust’. Wright’s Australian home was searched by police on the same day that the journalists exposed the leaked emails and documents. Reporters were quick to the scene as they sought for comments by Wright on the ensuing exposé, but he was not home at the moment. The journalists only took photos of the police.

Following the incident, Craig Wright was forced to delete his social media accounts. The incident has even prompted the writing of an entire book, in anticipation for the next part of the ordeal. The book by Andrew O’Hagan from June 2016 is titled: “The Satoshi Affair”. In an action-packed fashion, the book tells the story of how Wright escaped from Australia by hiding from police and then taking a flight to New Zealand. He then prearranged for his family to move along with him to London where they currently reside.

You can read more here:

Approximately 6 months after the earth-shattering Gizmodo article and police raid, Craig Wright publicly admitted to having been involved in the team that brought Bitcoin into being. Here is an interview link.

The admittance interview was recorded on 2 May 2016 in London. From this interview came the term “Faketoshi” as the public at large rejected Craig Wright’s claim that he was Satoshi Nakamoto- declaring that his ‘proof’ of having signed the original PGP key could be done by anyone who was close to Satoshi Nakamoto.

 

Craig Wright goes on to tell the interviewer that he is coming out for his family’s sake so they don’t have to hide his association with the making of bitcoin. Since the interview, Craig has become a more visible figure in the Bitcoin circles especially with  Bitcoin Cash Team. Wrangles within the Bitcoin cash team lead to hard fork of Bitcoin SV. You can read more about Bitcoin SV’s plan for the future  as well as the development roadmap.

The Tulip Trust

The Tulip Trust is a document leaked by the ATO, and made available on December 9, 2015. The full text can be found here.

David Klein allegedly authoreeed the Tulip Trust document in 2011. The document describes a bitcoin trust fund of 1,100,111 bitcoins and goes on to explain that the sum is to be entrusted to at least three people but not exceeding seven at any time. The bitcoin trust funds are to be repaid to Craig Wright on January 1, 2020.

As mentioned earlier, Wright made encounters with ATO who may have contacted the police for permission to conduct a search at Wright’s residence on the grounds of tax evasion using Bitcoin. The article and leaked emails were the trigger factors that led the Australian Federal Police to raid Craig Wright’s home and office on the same day.

The Tulip Trust documents contains two interesting instances that give support to its originality. The first occurrence is in the contract agreements:

  •         “The amount not included to be sent to Ramona Watts will be used to show the “lies and fraud perpetrated by Adam Westwood of the Australian Tax Office against Dr. Wright”
  •         The last condition is listed as a direct quote of Dr. Wright who has specified against my advice that he requires this line to be included”

Given the challenges Wright has had to endure with Australian authorities, it is reasonable to conclude that the inclusion of such an unclear line in the Tulip Trust contract that mentions Adam Westwood by name is concrete evidence for its authenticity.

The second instance is a partial line in the contract:

“The return will be in the form of a return of control of a company to Dr Wright. The company and trust will be managed and held in the Seychelles. This will be designated by ‘Tulips’ and the tradingsthat were noted to have not been a bubble but

 

Craig Wright answers questions as a panelist at the Bitcoin Investor Conference in 2015 in Las Vegas. His speech is educational but also raises a crucial point about the Tulip of 1600s.

https://youtu.be/LdvQTwjVmrE?t=2027 (start at 33:47)

Craig Wright notes that most people do not know that the Tulip bubble was not exactly a bubble but a shift of contracts to a swaption. This act of relocating contracts had a huge impact as it led to the collapse of the price. He also adds that the integral value of Tulips was in managing foliage and weed near castles.

This description fits in the incomplete sentence above. It is also noted that Bitcoin’s parabolic rise and fall looks similar to the Tulip bubble diagram.

 

The chart of Bitcoin could forever take the curve of the Tulip chart in case a wealth transfer takes place to the new Bitcoin SV chain.

Team Satoshi Nakamoto perhaps were aware that the original Bitcoin chain would be sluggish, infantile and corrupted and hence would require reallocation to a new and more robust chain.

In January 2020, Craig Wright will gain complete ownership of the trust. It is entirely possible that the trust was created to guarantee safety of bitcoin. The 1.1 million Bitcoin Trust fund is enough to facilitate the development of nChain but also capable of destroying the value of BTC to zero if not well used. However, Wright does not buy to the idea that price manipulation is possible and believes that usage and growth is responsible for sustainable gains in price.

THE PRESENT

At present, the new Bitcoin SV is developing at a rapid speed.

Only the BitcoinSV network is in line with the Bitcoin whitepaper and therefore the original Satoshi Nakamoto Bitcoin. The unwise inclusion of SegWit to Bitcoin Core (BTC) barred it from being Satoshi’s Bitcoin. The same case applied to Bitcoin ABC which is deviant from the whitepaper.

Dr Craig Wright is the Topmost Scientist of the nChain group which consists of nChain limited-branch concerned with blockchain research and development; nChains Holding Limited- a company concerned with holding of intellectual property patents. Mr. Wright has over 1100 patents on the blockchain technology. Some patents can be accessed on Google Patents:

https://patents.google.com/?assignee=nchain+holdings&oq=nchain+holdings%20

The BitcoinSV network is supported by nChain. The chain allows royalty-free usage of the patents on the BSV network. Many patents have been filed for years but only a few are actually being used.

nChain has aligned with one of the major Bitcoin mining companies in the world-CoinGeek, which is owned by the American billionaire, Calvin Ayre. A merger between Coingeek and Squire is the cards which will make it the world’s biggest Bitcoin mining company.

https://www.cryptoglobe.com/latest/2018/12/squire-mining-to-acquire-coingeek-making-it-the-largest-publicly-traded-bitcoin-miner/

 

The future of BitcoinSV looks dominant and promising with partnerships with giants such as Samsung and Square Mining/CoinGeek looking to bring the next generation mining hardware to BitcoinSV. The Samsung announcement can be found on this link

https://evertiq.com/design/44864

At the moment, the most profound argument for Craig Wright being Satoshi is the development of BitcoinSV which is the only cryptocurrency following what was laid out in the whitepaper. In addition, only a few people know of the true capabilities of BitcoinSV such as

  •         Ability to run smart contracts like Ethereum (BSV roadmap for OP_code)
  •         Ability to store images, video and sound on the BSV blockchain
  •         Can run decentralized oracles

According to chain theory, the most competent developers will be drawn to the most befittingly developing chain. This has been witnessed already. BitcoinSV’s development has been so rapid that its development is equal to BTC’s 10 years development combined. The blockchain explorer has done amazing things, like storing famous works and quotes on the BSV blockchain.

The popular classic, Alice of Wonderland book is stored in the blockchain forever in one transaction that cost very little.

https://alice.bitdb.network/

Neil Armstrong’s quote as he stepped on the moon:

https://whatsonchain.com/tx/ce7286e599fa7ea7eef61a94796ffb4c3cf7191ccbc3ebe49d39ba3bdb8ea6ff

By clicking “Decode” you turn the 1s and 0s etched on the blockchain into sound.

BSV currently allows up to 100 KB OP_RETURN messages.

Use developer _unwriter’s site https://b.bitdb.network/to upload any file on the blochain that is not more than 100KB in size.

You pay the fee with BitcoinSV. Be aware that your file will be available on blockchain for eternity!

Many projects have been developed like HandCash BSV wallet for iOS and Android. A large part of HandCash is owned by nChain. nchain also has an API to facilitate micropayments developed at http://www.cashport.io/. Such API technology allows service providers and content creators such as Netflix to charge users when streaming on a per-second basis. That means if you watch half a movie, you will be charged for half the price.

Netflix charges users on a monthly basis since traditional payment providers cannot handle the network traffic of micropayments. This new method of micropayment network creates a new opportunity for Netflix since there is a potential market of individuals who are too busy to watch a full month of their subscription and thus avoid buying Netflix altogether. The on-demand Netflix will increase traffic as individuals pay for whatever amount of time they have watched. As individuals will pay less for every minute streamed, there will be a proliferation of casual watcher who will bring in more profit for Netflix.

In 2018, nChain conducted a competition for a tokenization protocol to allow digital property rights on the blockchain. Tokenized emerged the winner of the competition and is soon going to be a part of the BitcoinSV. More information can be found on http://www.tokenized.cash/

Tokenization is the brass ring of blockchain technology since it allows physical and intellectual properties to be conclusively transferred, verified and stored.  A good read on the importance of tokenization can be found on this link: https://medium.com/coinmonks/asset-tokenization-on-blockchain-explained-in-plain-english-f4e4b5e26a6d

 

ACADEMICS

Dr. Wright’s academic prowess is wildly unmatchable and impressive. He holds, 3 PHDs, and 10 Masters Degrees, in a strong show of his academic achievements. Regardless of what opinions you have about him, his academic records warrant respect. His academic documents can be browsed here:

https://nchain.com/app/uploads/2017/12/Craig-Wright-Academic-Degrees-Certificates_2017.pdf

Besides stellar academic achievements, he has 24 GIAC security qualifications. These are among the most advanced security accolades that one can achieve in the field of Computer Science. Dr. Wright’s GIAC certifications can be viewed here: https://www.giac.org/certified-professional/craig-wright/107335

Upon being questioned by a Twitter user about his IQ, he responded that he tested at 179.

 

CONCLUSION

The leadership skills, business partnerships and filing of patents by nChain is a clear demonstration that BitcoinSV development is moving in the right direction as stipulated in the original whitepaper.

The subsequent disappearance of Satoshi Nakamoto after releasing the whitepaper is most likely because of patent filing and continuous research conducted by Craig Wright in the past ten years. The introduction of Bitcoin Core which grew in market cap provided enough proof that the concept of bitcoin is safe and reliable and can be used by the whole world. The scaling of bitcoin to the world meant that a lot of time needed to patent everything to avoid future conflicts. 

In conclusion, the self-admittance of Dr. Craig Wright as Satoshi Nakamoto, his continued research and development of Bitcoin, his academic records, leadership at nChain and his wealth are the primary indicators that Dr Craig was the primary leader of the team that brought Bitcoin to the world-Satoshi Nakamoto. Now, the original Satoshi Nakamoto Bitcoin lives on as BitcoinSV.


You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days.

For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

[/vc_column_text][vc_empty_space][button btn_text=”GET STARTED” btn_link=”https://t.me/butler_4c_bot” color=”#ffffff” hcolor=”#ffffff” bg_color=”#25bec8″ hbg_color=”#ff884a” align=”text-center”][/vc_column][/vc_row]

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top
%d bloggers like this: