TronWeekly

Crypto World News

You are here: Home / Archives for Faketoshi

Faketoshi

Craig Wright Ordered To Pay Dave Kleiman’s Estate Reduced Legal Fees in Bitcoin Scandal

by

Legal disputes between cryptocurrency proponents have repeatedly caught headlines in the digital asset industry. The Dave Kleiman vs. Craig Wright lawsuit, which took another turn recently, was one of the most sensational disputes out of a few in crypto space.

On Tuesday, United States Magistrate Judge Bruce Reinhart ruled that Craig Wright only had to pay twenty percent of the legal fees owed to Dave Kleiman’s brother, Ira Kleiman. 

The court said that the amount quoted by Ira Kleiman’s lawyers was too high and had been corrected by its discretion. Kleiman’s counsels had requested a total amount of $592,588 in legal fee which was then reduced to $113,760. The Judge claimed the hourly rates cited by the lawyers [$610-$1050] was too high when compared to the regular rates between $600 and $700.

Kleiman’s counsel also took a hit when Judge Reinhart added that Wright did not have to pay for any work that was not directly related to motions or hearings. This also included the cost of tasks that had taken too long to be completed. The Judge further pointed out that there were difficulties in clocking the total fees associated with the hiring of a blockchain forensic expert.

The $113,760 that Craig Wright needs to pay includes the $40,000 owed to the blockchain forensics expert. Faketoshi will also have to pay an additional $52,040 as an expense award. The judgment was tracked by several members of the cryptocurrency with many of them making their own remarks. Stephen D Palley, the Financial Advisor to The Block tweeted:

“In a different kind of pandemic case, the court yesterday awarded Ira Kleiman’s lawyers fees of $165,800.09 from Craig Wright for dealing with discovery issues and general chazerai. Should I write more about this or would you rather I pile on w/ more terrifying apocalypse news?”

He continued:

“It’s an interesting order — I mean that is a pile of moolah, but the court whacked the rates and hours down quite a bit.”

It was not all bad news for Kleiman as the Judge allowed his counsel to procure fees for efforts to compel compliance from Craig Wright. However, it was a bittersweet victory as the fees was slashed by almost 50% – 60%. Most of the efforts went in forcing Wright to show proof for all his said Bitcoin holdings. Wright has never been able to prove his ownership of the Bitcoin deposits and was earlier slammed by Reinhart for failing to do so.

Reinhart blasted Wright’s testimony and called it a perjured piece of evidence. The fallout from the earlier verdict greatly hurt Wright’s case and the reduced lawyer fees may be his only win from this entire ordeal.

The case between Wright and the estate of Dave Kleiman started when the former claimed that he owned a share of Kleiman’s Bitcoin assets. Since Kleiman had passed away in 2013, the issue was taken up by his brother. Ira Kleiman on his part had been successful in some way of protecting his late brother’s cryptocurrency legacy.

 

Craig Wright claims Tone Vays does not understand Bitcoin as the battle between two heats up

by

The cryptocurrency space is known for its feuds, be it between founders or between rival cryptocurrency organization bigwigs. A popular ongoing spat is between Craig Wright, the chief scientist at nChain and Tone Vays, a famous cryptocurrency trader and analyst.

They took the stage at a debate recently where Craig Wright claimed that Tone Vays did not understand Bitcoin and its infrastructure. The Bitcoin SV proponent continued to state that traders like Vays predict it wrong and do not know the technicalities involved in the digital asset world. He also said:

“I am the cause of all this and no I am sorry, Tone but you didn’t write the whit paper, so you didn’t understand the whitepaper. The whitepaper clearly states that miners are the ones that enforce rule and people like Tone will be annoyed with that.”

Aside from passing snide remarks, Wright went on to add that he knew of the inner workings of the Bitcoin blockchain and that there was a lot left in store for 2020. In his words:

“I will give all of you a prediction. In 2020, Bitcoin will be seized by the government and miners will help them. Because in such a setting only nodes are miners and miners are the examples of those nodes. The process will be undertaken with the help of three massive Chinese miners. Just wait and watch.”

Tone Vays was also in the news recently when he opined that Ethereum is useless, and Bitcoin could be heading for the $100k mark by 2023. When it came to the short term cryptocurrency climate, Vays said:

“I think we are headed for the low $7,000 area but if that area cannot reverse the price quickly and we consolidate there the way we are now doing in the low $8,000s then $5,000 becomes a reasonable and likely target.”

He was also of the opinion that Bitcoin could still fall to a yearly low as the market looked very volatile.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Crypto bull John McAfee to sue Craig Wright aka Faketoshi

by

Craig Wright

Do you know who Satoshi Nakamoto is? Of course, you don’t. Nobody does. We all know what he did, which was to create Bitcoin and blockchain technology, but nobody knows who he is because he’s a very competent expert in cryptographic technology, so he was able to publish the Bitcoin white paper and to launch the Bitcoin network without revealing his real identity. He was probably quite fond of superhero comic books and movies when he was younger.

But two persons in the world have publicly assured the planet that they know who Satoshi is: Craig Wright and John McAfee. Mr. McAfee claims that Satoshi is a personal friend, and he’s even provided a few personal details about Satoshi’s character and personality. Craig Wright, on the other hand, claims that he is Satoshi, no less. He’s never provided good evidence, nevertheless.

Mr. Wright’s claims have been taken with varying degrees of seriousness. Most people don’t take him at face value at all, and he’s earned the name of “Faketoshi” which he hates. But he’s also managed to get enough prestige as “Satoshi” that he was able to force a fork within the Bitcoin Cash project, so Bitcoin Cash SV (Satoshi’s Vision) was created under Mr. Wright’s leadership, and it’s been a disaster for the most part.

John McAfee

Mr. McAfee is one of the most influential technological entrepreneurs of the age. He single-handedly pioneered the digital security industry when he created McAfee antivirus. Mr.McAfee is a crypto bull now as he is very optimistic about the future of this industry.

He says he knows Satoshi personally and that he could push him to reveal himself. Additionally, he hates Mr. Wright for claiming credit that, in his view, does not belong to him at all.

He’s not gone against Mr. Wright except for tweets and other informal means. But now, Mr. Craig has been moving to sue those who doubt his claims, and Mr. McAfee is not so happy about that, so it seems he’s ready to get a bit more proactive. His latest tweet showed that:

There are plenty of feuds in the cryptosphere, of course, so why should you or anybody else care about this one in particular? Well, this one is not just your run-of-the-mill feud. This one could end up revealing Satoshi Nakamoto’s true identity, which makes it very relevant, unlike so many other disputes that amount to nothing more than silly catfights.

The thing is, Mr. McAfee likes to tweet stuff a tiny bit too much. So there’s every chance that he will not sue Mr. Wright at all. Not too long ago he said he would reveal Satoshi’s identity, but desisted from that because he had tax problems back in the US. So we wouldn’t be surprised if he never sues Craig Wright for whatever reason. On the other hand, if he does, it will be a fascinating thing to watch.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

John McAfee and Satoshi’s true identity

by

McAfee

John McAfee is a very successful technological businessman who also has something of a reputation as a Maverick. He founded the company that bears his name, and that was a pioneering force in digital security. He’s smart, colorful, controversial, rich, and he likes to speak when he feels like it, using his Twitter account from his home at the Bahamas.

The new fork in the Bitcoin Cash project was very annoying for Mr. McAfee. Bitcoin Cash became two different blockchains. One is Bitcoin Cash ABC (which recovered pretty quickly from the split and has been performing reasonably well in the market) and Bitcoin SV (SV stand’s for Satoshi’s vision) which has been an unmitigated disaster.

Craig Wright

Bitcoin Cash Satoshi’s Vision is named like that because it came to life because of Craig Wright’s influence within the Bitcoin Cash community. This is the man who’s claimed to be none other than Satoshi Nakamoto, the man behind Bitcoin and the cryptocurrency revolution.

While most cryptonauts (as far as we can tell, there’s no hard data on this) are more than skeptic about Mr. Wright’s claims, there is a small number of people in the world who actually take Mr. Wright at face value. That’s given him quite a bit of prestige and influence in certain circles, and this annoys the hell out of John McAfee.

Mr. McAfee has used his Twitter account to express his discontent. He says that he personally knows who Satoshi Nakamoto is. The hacking expert is sick of scammers trying to hijack Nakamoto’s name and merits and using them to deteriorate the cryptosphere as a whole.

He’s got a particular beef to pick with Wright as he said in a tweet. He believes that the alleged Satoshi’s enhanced reputation is the only reason that he was able to come up with BSV which is a “scam that hurt us all.”

So he decided to do something about it: to push things so that Satoshi Nakamoto finally comes forward and reveals himself.

For several days he started offering clues about Satoshi’s real identity so that his true identity can be narrowed down or so that he stops hiding. So what do we know so far? He’s not the CIA, or any agency, or any of the world’s governments.

While that seems a silly thing to clarify, it’s the notion of choice for conspiracy theorists. He lives in the USA. There is no single man behind the development of Bitcoin’s network and launch, but it was instead done by a group of people. But the Bitcoin whitepaper has only one author.

And that’s as much as we know from Mr. McAfee. And then the manure hit the fan.

Further suspense

It turned out that Mr. McAfee is wanted by the IRS because of tax-related problems. Since he lives in the Bahamas, he could face an extradition process if the American government wants him badly enough. That hasn’t happened yet, but as the tycoon’s lawyers advised him that keeping up the Satoshi things could only complicate his legal status, he’s desisted from telling us all who the Bitcoin creator really is. At least for the time being. You can actually read the letter from the lawyer (Mario A. Gray, an expert in extradition processes) at the Twitter account in question.

So when will we find out who Nakamoto is? We have no idea. But it seems we could learn his identity before we expected.

Disclaimer: Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.