Craig Wright and the keys to the Tulip Trust
Craig Wright and the keys to the Tulip Trust
Crypto

Craig Wright and the keys to the Tulip Trust

By Lorenzo Dalvit - 15 Jan 2020

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After Craig Wright’s news about the Tulip Trust keys and Satoshi’s bitcoins, BCH stays behind BSV, which gains more value on the dollar by overtaking its opponent in fourth place on CoinMarketCap.

For the first time in the history of cryptocurrencies, a coin fork, initially considered by the market to be of lower value, catches up and overtakes the opponent’s chain.

Craig Wright, Tulip Trust and Satoshi’s Bitcoins

Yesterday’s news stirred the market: nicknamed by his haters Faketoshi, Craig Wright, has provided the keys to unlock the Tulip Trust’s encrypted files that would grant access to a fortune in bitcoin.

In the document, it can be clearly read that, through third parties, the keys for the encrypted files that would give access to a frightening amount of bitcoin have been delivered and received. We are talking about almost 1 million bitcoins.

The tweets that have been posted also confirm the alleged sending of the keys:

It should be noted that Craig Wright has provided 16404 bitcoin addresses which, in total, should be close to a million bitcoins. If an average of 50 BTC per address is calculated, derived from the mining of the first blocks, then the total would be about 820,200 BTC, which at the current price would be about $7 billion dollars.

And it is precisely for this reason that the price of Bitcoin Satoshi Vision (BSV) is now reaching impressive levels, peaking yesterday at $441.20, reaching now the 4th position on CoinMarketCap.

Thanks to the Tulip Trust funds that have been encrypted with the keys provided by Wright and protected by the Shamir Secret Sharing Algorithm with a passkey divided into many parts, perhaps the real identity of Satoshi will be discovered.

It should be noted that, since the bitcoins are locked, there is also the possibility to recover all the funds that have been created from the various bitcoin forks, i.e. BCH and BSV, greatly increasing the total capital.

Before making assumptions though, it is necessary to wait for this information to be confirmed by the facts and for the light to be shed on many of the shadows surrounding the situation.

Dan Held warns the community about the risk of fraud

This unexpected growth has seen Dan Held, Business Development Director of the famous Kraken Exchange, make strong statements against Craig Wright and the community that supports him.

“If you believe in Craig Wright you lose a ton of respect as a human being who has the capability of rational thought”.

The Kraken exchange is ranked 50th in terms of trading volumes on a daily basis and last year it made the political decision to delist BSV from the platform. A choice shared by Binance and some other smaller exchanges.

While Roger Ver argues with Amaury Sachet, lead developer of Bitcoin Cash’s ABC client, Satoshi Vision’s big blockers pop the champagne in the wake of a rally that hadn’t been seen in a long time. 

According to Dan Held, however, news related to the Tulip Trust and Satoshi Nakamoto’s identity are just an exit scam system set up by Craig Wright.

To raise the price in this way by releasing a series of fake information and news seems to be a strategy that is driven only by the desire to sell at a price higher than its real value.

Dan Held considers himself a Bitcoin Minimalist with libertarian ideas. He embraces the philosophy of hodl rather than the one advocated by Craig Wright and believes that bitcoin promotes a healthy way of looking at the economy.

BTC, according to Dan, reduces the superfluous needs and allows to focus on savings and investments in the long term. 

“It’s not about consuming, it’s about saving and investing that makes our world a great place.”

The debate about which is the real Bitcoin that Dan dreams about is at the heart of it. 

Many have decided for different versions of a Bitcoin that is not the same as the original, changing its appearance and usability according to the choices made by its developers and market players. 

Just like BCH, BSV has rejected the vision of the Bitcoin BTC core team and is trying to demonstrate in practice how a Bitcoin more similar to its original version could work.

Dan’s libertarian ideas envisage a free market that empowers the individual’s choice to determine the value of an asset, something which exchange censorship does not allow.

Rational thinking cannot deny that BSV’s proposal has a value perceived by the market. Right now, companies, developers and industry players are participating in the development of the ecosystem. 

There is no doubt that the figure of CSW is cumbersome and controversial, but perhaps that is not the only aspect of this blockchain to consider.

 

Article written in collaboration with Alfredo De Candia

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Lorenzo Dalvit

Chief Operations Officer at Deepit AG

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