Craig Wright registers Copyright for Satoshi Whitepaper: BSV Surges 85%

BSV surged by 80% as Craig Wright filed copyright registration for Bitcoin Whitepaper. Mr. Craig Steven Wright commonly known as “CSW” or “Faketoshi”, is an Australian computer scientist and the self-made creator of the Bitcoin protocol. He claimed that the copyright offices of the US recently granted him with a copyright registration for being the pioneering author of the Bitcoin Whitepaper.


According to Wright, he has been handed a copyright registration for inputting a great number of the original codes. They are the ones applied to facilitate the Bitcoin blockchain network. DecryptMedia commented on the issue by displaying that a spokesperson had issued a press release to news media outlets. In the release, it indicated that that was the initial government acknowledgment of Craig Wright as Satoshi Nakamoto, the founder of Bitcoin.


On the other hand, CoinGeek said that the alleged registrations handled by the US copyright Office acknowledge Craig Wright as the pioneer of both the founding Bitcoin codebase and the cryptocurrency’s whitepaper. This claim was put on paper right after the code was released.


Wright has only issued a claim; he has not got any “recognition”.

As indicated by DecryptMedia, Craig’s claim that he had been given “government agency recognition” would seem questionable. It appears that Craig Wright had only registered a matter with the copyright office. Furthermore, any person or firm can submit that.


At this juncture, the only issue that can be certain is that Mr. Wright paid a fee of $35 to file an application. The application requests that Wright should be given copyright registrations by the US office for the pioneering of the Bitcoin Whitepaper. As elaborated by a director at Coin Center, Jerry Brito, the registration of copyright only needs filling a simple form. Furthermore, the copyright office of the US does not carry out an investigation for it to weigh the validity of the claim. All these were noted by Mr. Brito. He only mentioned that the office was only obligated to registering all issues submitted.


Bitcoin SV surges nearly 80%

BSVUSD Price Chart 22nd May
BSV/USD Price Chart 22nd May

Immediately after Coin Geek indicated that Craig Wright had got copyright registrations, the price of BSV (Bitcoin Satoshi Version) surged by almost 80% according to data from CryptoCompare and reached around $135. However, it later started to correct downwards and is currently trading around $100.


One of the prominent Bitcoin developers, Jimmy Song debated that making diversifications to the crypto asset portfolio made little sense. Most specifically, he believes that adding altcoins to a business portfolio that has already placed a specified percentage to Bitcoin will not heighten the opportunities of acquiring a higher profit on invested capital.


Asset diversification

As earlier explained by Song, it is a norm for business investors to diversify their investments. This will enable them to statistically lower their risk of “permanent loss” and furthermore reduce the negative impacts of volatility. He wrote that the reality of a cryptocurrency is in the code which, none the less, is very dense. Moreover, it is difficult to read and rather impossible to interpret for a huge number of people.


The Bitcoin developer elaborated that cryptocurrencies occur in a “digital realm”. It means that the network and the code on which they were established is their “reality”. Song Believes it is not practical that the “underlying reality” of cryptocurrencies can be understood. It is a case that not even a widely experienced developer can be fully capable of comprehending. Moreover, to even be capable of comprehending and determining the legitimacy of a cryptocurrency platform in a suitable time, he noted. He further on said that in numerous situations, there’s an abundance of advertising material concerning various cryptocurrency projects.