A $10,000 bet Craig Wright can’t move Satoshi’s Bitcoin ๐จ This article is 5 years old...
A $10,000 bet Craig Wright can’t move Satoshi’s Bitcoin
2 min read
Updated: Feb. 19, 2020 at 2:38 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Earlier this week, Wright lost the Kleiman case and was ordered by a judge to give away half of his Bitcoin holdings to the Kleiman estate. British podcaster Peter McCormack said he was willing to bet $10,000 that Craig Wright won’t be able to move the Bitcoin associated with Satoshi Nakamoto, even offering 2 to 1 odds to anyone willing to take the bet.
Wright vs Kleiman case ruling gets an interesting twist
The Craig Wright saga might not be coming to an end, but it sure is getting more interesting by the day. The self-proclaimed Satoshi Nakamoto has officially lost the Kleiman case, with the judge ordering him to pay half of his pre-2014 Bitcoin to the estate of his former partner.
And while the ruling itself didn’t come as a surprise due to Wright’s notoriety, Wright’s reaction to the court’s decision is something few expected. Contradicting previous claims that he is unable to access the fortune he mined in Bitcoin’s early days, Wright said he “has no choice” but to pay out almost $2.5 billion worth of BTC.
Many of his supporters warned about the potentially devastating consequences this could have on the crypto market, given that the Kleiman estate would have to dump around 40 percent of the coins to pay, or roughly $1 billion, to cover estate taxes.
This prompted British podcaster Peter McCormack to come up with an interesting offer to those who believe Wright is Satoshi Nakamoto. McCormack, who is currently embroiled in a libel lawsuit with Wright, said bet $10,000 that none of the coins associated with Satoshi Nakamoto will be moved within a year.
Open bet available for any $BSV CSW cultist of the belief that Craig has the Satoshi coins.
I'll put up $10k that none of these coins will be moved by CSW within a year, I'll even offer you 2-1 odds, so $5k for you.
Money locked in escrow, paid out 1 year today.
— Peter McCormack (@PeterMcCormack) August 28, 2019
He even offered 2 to 1 odds for the bet, saying the money would be immediately locked in escrow and paid out at the end of August next year to anyone that accepted the bet.
Crypto community mocks Wright as he begins book promotion
The crypto community welcomed McCormack’s call for the bet, with many pointing out he could have easily increased the odds to 100:1 to make things even more interesting. Some have even suggested that he opened up a prediction market for the bet.
@hodlhodl can you open a prediction market on this? I yes, this can bring quite some attention to your product.
— zender ? #coinjoinday #schnorr #taproot (@zndtoshi) August 28, 2019
While everyone was mocking Wright and discussing the repercussions of McCormack’s bet, Calvin Ayre was busy promoting a new book about Wright. The book, titled “Behind the Mask: Craig Wright and the Battle for Bitcoin,” written by Byron Kaye and Jeremy Wagstaff, describes a “thrilling, stranger-than-fiction story of Craig Wright.”
Calvin Ayre, a Canadian gambling tycoon and one of the biggest investors in Craig Wright and Bitcoin SV, broke the news about the book on Twitter. Ayre said that the promotion couldn’t have begun at a perfect time, as the book will be released at the same time when Wright is set to get his alleged coins out of the โTulip Trust.โ
they started promoting the book that will have the back ground of Craig creating #Bitcoin. Its nice timing to be out at the same time as Craig gets the Satoshi coins out of tulip trust. Also good timing with Judge just ruling Craig is Satoshi.https://t.co/55vZgvDDUk
— Calvin Ayre (@CalvinAyre) August 28, 2019
McCormack responded to Ayre’s tweet with a quote from the judge’s ruling, who explicitly said that the existence of the “Tulip Trust” wasn’t supported by any evidence at all.
"The totality of the evidence in the record does not substantiate that the Tulip Trust exists. Combining these facts with my observations of Dr. Wrightโs demeanor during his testimony, I find that Dr. Wrightโs testimony that this Trust exists was intentionally false." https://t.co/3dBwzztC02
— Peter McCormack (@PeterMcCormack) August 28, 2019
Bitcoin SV Market Data
At the time of press 2:38 am UTC on Feb. 19, 2020, Bitcoin SV is ranked #5 by market cap and the price is up 1.01% over the past 24 hours. Bitcoin SV has a market capitalization of $5.7 billion with a 24-hour trading volume of $3.42 billion. Learn more about Bitcoin SV ›
Crypto Market Summary
At the time of press 2:38 am UTC on Feb. 19, 2020, the total crypto market is valued at at $296.54 billion with a 24-hour volume of $176.7 billion. Bitcoin dominance is currently at 62.34%. Learn more about the crypto market ›
Mentioned in this article
Latest UK Stories
Latest Bitcoin Stories
Featured Story
Advertise Here
In this article
Bitcoin
$98,176.58
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Bitcoin SV
$68.1057
Bitcoin SV is a full-node implementation for Bitcoin Cash (BCH).
Craig Steven Wright, commonly referred to as CSW, is an Australian computer scientist and business professional who has been at the center of controversy within the cryptocurrency community.
Hailing from the United Kingdom, Peter McCormack stands out as a preeminent figure in the cryptocurrency podcasting realm.
Calvin Ayre was born on May 25, 1961, and raised on a pig farm in Canada.