Bitcoin SV [BSV] Flash Crash at Bitfinex; Another Copyright For Satoshi’s Whitepaper

A Chinese citizen, Wei Lui, has filed a copyright registration at the US copyright office for the original Bitcoin white paper titled, Bitcoin: A peer-to-peer cash electronic system.
Wei Lui, the Chinese Citizen who lives in the US, has 19 copyrights in his name. The Bitcoin Whitepaper Copyright registration number and date is TX0008726120 / 2019-05-24.
Wei Lui’s Copyright Registration of BTC Whitepaper (Source) 
The copyright claim issue began with Craig Wright the lead proponent of Bitcoin SV [BSV] along with Calvin Ayre’s media publication, spread the news which led the people to believe that the US Copyright Office had granted Craig the ownership for Bitcoins’ creation. That he is, in fact, Satoshi Nakamoto himself.
Also Read: Bitcoin SV [BSV] Holds 80% Gains; MIT License To Challenge Craig’s Copyright?
The hoax was put to a stop when leading lawyers explained the US copyright laws. Jake Chervinsky noted that,
This is nonsense. There’s literally no such thing as being “awarded a copyright” under US law. The only real benefit of registering with the Copyright Office is the right to sue for statutory damages & attorney’s fees. Craig Wright’s copyright registration is meaningless theater.
Moreover, according to the law, more than one competing claims are invited for any work, and they do not even verify the claims in case of anonymous work like Bitcoin.
BSV Price Analysis: Registers 300% Gains in less than a fortnight
Nevertheless, despite the debate between Bitcoin SV proponents and crypto-community, the price of Bitcoin SV has increased tremendously in the past couple of weeks. The price rose by 300% after the news of the Copyright broke out. The price rose from $60 to a high above $240 during the rise.
BSV/USD 1-Day Chart on Bittrex (TradingView)
The rise can be categorized as abnormal; however, it has in some parts led the altcoins in the green as well. It gained about 100% from 29th to 30th May 2019.
Manipulation is also suspected in the Bitcoin SV markets. Earlier today, a flash crash of more about 80% from $207 was recorded, when Bitcoin SV fell to a low of $44. Reportedly, a large sell order of 25000 BSV triggered the move but was instantly filled at the market price before the crash.
BSV/USD 4-Hour Chart on Bitfinex (TradingView)
Also Read: Fake Satoshi and Binance Rumor in China Cause Bitcoin SV [BSV] Rise: Report
The markets at other Exchanges remained unaffected during the move at Bitfinex. The rise of BSV price is supported not only by weak fundamentals but ambiguous implications, which raise ultimate questions on the credibility of the increase.
Do you think that Bitcoin SV will sustain the price above $200? Is it primed to increase further or a downside is imminent? Please share your views with us. 
The post Bitcoin SV [BSV] Flash Crash at Bitfinex; Another Copyright For Satoshi’s Whitepaper appeared first on Coingape.
Source: CoinGape

Criag Wright Officially ‘Not Recognized’ as Satoshi; Sues Challenger on Twitter

The US Copyright Office caught wind of the recent events related to the Bitcoins Whitepaper Registration. Some media sources went as far as calling him ‘Satoshi Nakamoto’ with confirmation based on the fact the Copyright was granted to him.
Furthermore, the price of Bitcoin SV [BSV] went up by more than 100%; it rose from $61 to record a high of $135 in a jiffy.  It held more than 80% gains on the following day as well.
Also Read: Bitcoin SV [BSV] Holds 80% Gains; MIT License To Challenge Craig’s Copyright?
US Copyright Office Issues Press Release on the Bitcoin Copyright Registration
According to the press release by the US Copyright Office, while Craig Wright has officially sworn in at the office that he is, in fact, the original author and claimant of the Bitcoin White Paper,
 “The Copyright Office does not have an opposition procedure for copyright registrations, such as the procedures available at the Patent and Trademark Office for patents and trademark registrations. Disputes over the claims in a registration may be heard before federal courts, including disputes over authorship of a work. Someone who intentionally includes false information in an application may be subject to penalties.”
The US Copyright Office replied that especially in Bitcoin’s case in which a ‘pseudonym,’ or a fictitious name is used, which is common in literature and entertainment industry, they do not verify the claims.
“In a case in which a work is registered under a pseudonym, the Copyright Office does not investigate whether there is a provable connection between the claimant and the pseudonymous author.”
Craig Wright Sues Peter McCormack
Peter McCormack had earlier challenged Craig Wright’s claims saying he would fight till the end in a court to prove that Craig Wright isn’t Satoshi Nakamoto.
Craig Wright actually sued McCormack over the claims. According to the lawsuit, Craig Wright had filed a defamation case against Peter McCormack on 2nd May among other things. He is demanding a penalty and an apology in open court about refuting Craig’s claims that, he is Satoshi Nakamoto, the creator of Bitcoin. The details are not made public as they are sub judicial.
A new deadline for 24th May 2019 has been served to Peter McCormack under UK laws, to which McCormack has tweeted,
“RE: Craig Wright…I have spoken with two of the top legal firms in the world this morning. I will instruct one within a week. Let’s go get this motherf**ker!”
Crypto-Twitter seems to back Peter McCormack as they did during the fight with @hodlonaut. Pro-bono offers from lawyers and GoFundMe campaigns also began to support Peter against Craig in court. The drama will unfold in court in soon.
Do you think that proving Satoshi’s identity is detrimental for cryptocurrency markets? Will Craig Wright be successful in determining his claim? Please share your views.
The post Criag Wright Officially ‘Not Recognized’ as Satoshi; Sues Challenger on Twitter appeared first on Coingape.
Source: CoinGape

Bitcoin SV [BSV] Up 100%; Craig Wright Makes Another Attempt To Cause FOMO?

Craig Wright has filed a copyright registration for the original Bitcoin [BTC] whitepaper. The controversy surrounding Satoshi’s real identity and Craig Wright’s claims had reached its height on Twitter when Binance decided to #delistBSV.
Now, Wright has made another attempt to cause FUD and FOMO in the market by filling a registration with the U.S. Copyright Office supporting his claims of authorship Bitcoin’s whitepaper.
Also Read: Vitalik and Hoskinson Support #DelistBSV, But Concerned About Centralization of Cryptocurrency Exchanges

Craig Wright filed a copyright registration for the Bitcoin whitepaper https://t.co/aIvg2BbmL2 pic.twitter.com/TVdU62TRRv
— Neeraj K. Agrawal (@NeerajKA) May 21, 2019

The price of Bitcoin SV shot up by more than 100% as the news of the registration was broken earlier on 21st May 2019. The price of Bitcoin Satoshi Vision [BSV] at 13: 45 hours UTC is around $110. It touched a high of $135 a moment ago this time as the registration was being interpreted as confirmation of Craig Wright being Satoshi Nakamoto.
BSV/USD 1-Day Chart on Bitfinex (TradingView)
As noted by Jerry Brito, the Executive director of Coincenter, 
Registering a copyright is just filing a form. The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them.
Hence, according to the laws of copyright in the US, while the registration has been granted to Wright it does not confirm or guarantee his identity. the Copyright is granted to anyone who files with a claim.
Do you think that Craig Wright’s attempt will be more detrimental to BSV’s prices now? Please share your views with us. 
The post Bitcoin SV [BSV] Up 100%; Craig Wright Makes Another Attempt To Cause FOMO? appeared first on Coingape.
Source: CoinGape