Bitcoin SV ‘s Fraudulent Attempt To Hijack Bitcoin Core Development

Published: May 26 (Medium & Altcoin Magazine)

34 minute read

A technical analysis by Profit Hunters Coin

© March 24, 2019

Publication May 26, 2019 @ BTC Block: 577962 & PHC Block: 916616


“Bitcoin SV is the original Bitcoin. It restores the original Bitcoin protocol, will keep it stable, and allow it to massively scale. Bitcoin SV will maintain the vision set out by Satoshi Nakamoto’s white paper in 2008: Bitcoin: A Peer-to-Peer Electronic Cash System

The Bitcoin SV project was created at the request of and sponsored by Antiguan-based CoinGeek Mining, with development work initiated by nChain. The project is owned by the Bitcoin Association on behalf of the global BSV community, and the Bitcoin SV code is made available under the open source MIT license. [1]


Bitcoin open-source project generated the genesis block #0 on Jan 3, 2009. This was initiated by its primary programmer with the pseudonym of Satoshi Nakamoto.

Craig Wright did not sign the source code or white paper with his name and provided ZERO evidence to support his public claims proving him as the inventor.

Bitcoin SV uses the exact same genesis block as Bitcoin, blockchain history, and public addresses, along with the exact same source code base with minor insignificant changes. Most of the code they’re frequently merging into their own; Was released previously by Bitcoin Core developers, then simply copy and pasted into Bitcoin SV as a commit by Dan Connolly. Noting these changes have been merged without respecting the MIT license clauses to include the copyright holders and license by linking to the parent commit or to the parent repository in some way shape or form. Ex: Forked from bitcoin/bitcoin

Their hyped “custom” protocol improvements are often rejected by their own supporters as seen through their git pull request history. Their use-cases are not unique and have been proposed by others in the past; Shamelessly resold as “exclusive to Bitcoin SV”. Their development team continues to be caught in lie after lie, and scandal after scandal.

“The right to be attributed as an author of a work is not merely a copyright, it is every author’s basic human right” ― Kalyan C. Kankanala (Fun IP, Fundamentals of Intellectual Property)

2008 — The Mysterious Mr. Nakamoto

“A paper called Bitcoin — A Peer to Peer Electronic Cash System was posted to a mailing list discussion on cryptography. It was posted by someone calling themselves Satoshi Nakamoto, whose real identity remains a mystery to this day.” [2]

2009 — Bitcoin begins

“The Bitcoin open-source software is made available to the public for the first time and mining — the process through which new Bitcoins are created and transactions are recorded and verified on the blockchain — begins.” [2]

“A lot of people automatically dismiss e-currency as a lost cause because of all the companies that failed since the 1990’s. I hope it’s obvious it was only the centrally controlled nature of those systems that doomed them. I think this is the first time we’re trying a decentralized, non-trust-based system.” — Satoshi Nakamoto

A Brief History Of nChain And CoinGeek

“nChain was founded in 2017 by Dr. Craig Wright. Jimmy Nguyen, the company’s current CEO, joined the company in December 2017.” [3]

“The BSV project is owned by the Antiguan-based Bitcoin Association on behalf of the global BSV community” [1]

“A firm believer in certifications and standards to increase industry professionalism, Wright said any provider that engages in FUD (fear, uncertainty and doubt) to sell products should be ostracized and excluded.” [4]

Core Is Not Core Anymore

“Wright is not alone in his belief that Bitcoin SV will one day reign supreme and Bitcoin (BTC) will crash to zero. Perhaps the only well-known member of the cryptocurrency community he has not managed to completely alienate, gambling magnate Calvin Ayre, agrees with him.” [5]

This mindset was used to justify Craig Wright’s outlandish claims that he is Satoshi, and his project is the only real Bitcoin. By attacking all BTC-Core developers, accusing them of not working in the best interest of the Bitcoin project as set forth by Satoshi in the white-paper.

Most people accuse Craig of simply throwing a temper tantrum when his “insane ideas” are proposed and then rejected by the majority. Most of the Bitcoin code was written by core developers not Bitcoin SV, Craig successfully hired a few former Bitcoin core developers to work at nChain recently; To give the illusion that even programmers are abandoning BTC. No serious development or corporate enterprise would ever consider using BSV, period!

The Scaling Debate

“Craig Wright Of Bitcoin SV (BSV) To Utilize 1 TB Blocks ‘Terranode Bitcoin’ Within 2 Years from Now“ [6]

“5 GB… It would take over 36 hours to download a single block in Yemen while someone in Singapore could do it in 11 minutes.” [7]

“Nodes with less than 8 GB ram often crashed due to insufficient memory prior to hitting the mempool admission bottleneck” [8]

“The existing Visa credit card network processes about 15 million internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling. If you’re interested, I can go over the ways it can cope with extreme size.” — Satoshi Nakamoto (April 12, 2009)

“It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don’t have it are already obsolete.” — Satoshi Nakamoto (October 4, 2010)

Very few people have hardware and the required internet connection bandwidth to support 1TB blocks on a massive scale. This is exclusive economics; What about inclusive; in parallel to open-source and free software initiatives, attempting to restore individual technology rights. If 1TB blocks are needed because of network volume; Stable on-chain scaling adjustments can be made, or use an alternative coin as a secondary protocol, this is decentralization… right? Why is BSV so obsessed about using one chain for everything?

Blocks in the future will mostly be filled with images and files and not transactions for what they’ve been designed to carry. THIS IS NOT SCALED decentralization. Nobody who understands network infrastructure or blockchain technology would ever consider this to be practical for the world's population. How many crypto-beginner users would feel uncomfortable knowing random unrelated third-party data is embedded within their monetary assets? Porn and pensions mixed together, what the hell are they thinking?

Files Stored On “The Blockchain” Is Not A Good Idea

“There’s a new way to browse content on the Bitcoin SV (BSV) blockchain. Anonymous developer Unwriter has announced Bottle, a Bitcoin Browser. Available for Mac, Windows, and also available on GitHub, Bottle allows users to surf content on the Bitcoin network.” [9]

“When it comes to a mutualistic relation between Decentralized Ledger Technology (DLT) and data storage, the most common use case for the Blockchain is as an incentive layer. This means that data isn’t stored on the Blockchain itself, but the network at hand is able to leverage the Blockchain as a ledger for automatic payments and/or for value exchange, enabling users to pay for storage or access to files.” [10]

“Storing an entire document is rarely an advised option due to size limitations, and you would also have to compress and format before recording it. Storing your document by hashing it with an algorithm saves up more space and it scales more efficiently. “ [11]

One Coin, One Internet On The Blockchain

“Think about it this way: Do we all operate on multiple internets? No. We operate on a single Internet. There are many intranets and extranets in the world that are run by private companies. But, at the end of the day, it doesn’t make sense: If there were 100 internets and you were starting a business running a website and I was a consumer, for me to access your website I’d have to say, “Well, which Internet do I go on? Do I go on Internet ABC or do I go on Internet Core?” How does that make sense in the world, right? If you think about it, that would be laughable.” Jimmy Nguyen [12]

Hold on, wait a minute. The “internet” is simply a term to define the permissions given to a network.

1. Intranet is shared content accessed by members within a single organization.

2. Extranet is shared content accessed by groups through cross-enterprise boundaries.

3. Internet is global communication accessed through the Web.

Those are the network access types, they all share similar transmission protocols too. Some are HTTP, HTTPS, FTP, Telnet, DNS, Tor, BitTorrent, and Bitcoin. These are not one single protocol, they’re many that perform specific functions to transmit data from server to client devices. These are known as secondary layer protocols.

Primary layer protocols that perform base network communications for the “world wide web” are known as TCP/IP or alternatively UDP/IP. Again, are these are not single protocols, they’re pairs of two distinct computer network protocols often used together.

Yes, it appears as though the internet is one single network; It really doesn’t function like that. A single browser experience gives the user the illusion they’re connecting directly to the websites from their client software. Fundamentally, a lot of packet routing and protocol switching happens in milliseconds by different global networks cooperating together to form a world wide web.

The Failed Fork

“The BCH chain has successfully forked into 2 block-chains, resulting in BCHABC and BCHSV. Both coins are now trading on various exchanges and are in competition for survival by gaining dominance over the hash power.” [13]

“Nodes are not going to accept an invalid transaction as payment, and honest nodes will never accept a block containing them.” — Satoshi Nakomoto

“The Bitcoin Cash community seems very divided just days ahead of the network upgrade that the network has scheduled. Craig Wright, the promoter of the Bitcoin SV (Satoshi Vision) is attacking those that support the Bitcoin ABC client, including Roger Ver and Jihan Wu.” [14]

“If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” — Satoshi Nakamoto on scalability and transaction rate

Craig was unable to maintain full control of his Bitcoin Cash development team, and so he began a heated debate with Roger and Jihan, that later involved the administrator of This effectively created two separate “original” Bitcoin implementations with very different visions for the future. A hash-war forked into two coins BCHA & BCHB.

Most Of The Community Don’t Want This “New Old Bitcoin”.

“Despite multiple attempts at breaking the standoff through a compromise, the war over Satoshi’s original ‘original vision’ continues to intensify within the Bitcoin Cash technical community, as the fourth-largest cryptocurrency hurtles toward a potential blockchain split in November.” [15]

“Bitcoin SV [BSV] continued its bearish run on the back of the collective market dropping below the $140 billion mark. After two successive bullish waves in the past week, the coin market turned red.” [16]

“He also argued that cryptocurrency in its current form is too complicated: … coins, forks, sharding, off-chain networks, DAGs, proof-of-work vs. proof-of-stake, the average person cannot plausibly follow all of this. What use cases, really? […] The most compelling cases I hear about are when someone transfers money to a party that has been blocked by PayPal, Visa (etc), or banks and wire transfers. The rest is hype, evangelizing, HODL, get-rich lambo garbage. I think Satoshi would barf” — Tim May [17]

Ok, wait, what? I Thought Bitcoin Cash was the “real Bitcoin” now there will be another real Bitcoin? This is starting to get a bit confusing…

Aggressive Social Media Tactics, Harassment, And Censorship

“Welcome to bankruptcy,” Wright told Ver before adding: “You are my enemy. You have f****** no idea what that means. I AM Satoshi. Have a nice life,” [18]

“He blocked me, so I don’t see his tweets unless I go out of my way to look at his profile in an incognito window. My online world is at present a Craig Wright-free and happy world.” — Vitalik Buterin (April 5, 2018) [19]

“Craig Wright Wants to Kill Satoshi by Becoming Him… Again Why? And How? The Australian computer scientist Craig Wright, who once claimed to be Satoshi Nakamoto, is continuing his effort to obtain hundreds of digital currency and blockchain patents. “ [20]

A White-Paper Is Only A Paper, Code Is Just Code

“Love all these guys who literally had nothing to do with the creation of Bitcoin believing they know more about how it works than the creators. Nowhere in the white-paper has it ever said anything about replacing gold or being a store of value. Moronic is being to fair.” — [21] JasonGaylord10 (March 20, 2019 Twitter)

“It’s very attractive to the libertarian viewpoint if we can explain it properly. I’m better with code than with words though.” — Satoshi Nakamoto

“Sorry to be a wet blanket. Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.” — Satoshi Nakamoto Slashdot Submission for 1.0

Similar to the old saying: What came first, the chicken or the egg? I guess we’re about to find out. What came first, Bitcoin source code or the Bitcoin paper? Does the source code follow the paper format or the paper follow the source code format?

It did not contain lots of important information, this was not by mistake. It was to prevent malicious attempts of hijacking it in the future by hiding secrets only known to the real creators. The source code speaks for itself if you know how to read it. More importantly, Satoshi was a coder and struggled to explain his invention to the world in plain English.

A new Code, A New Protocol, Why Do BSV Lie To Everyone?

Oct 17, 2014 — The Bitcoin peer consensus code was forever mutilated by merging git pull request #4468. It is still used in Core 10.1, 11, 12, 13, 14, 15, 17+. This opens up a variety of new attack vectors Satoshi did not implement in the original version. Without going into all of the technical aspects of those vulnerabilities here are some related references.

Do not use ‘getblocks’, but ‘getheaders’, and use it to build a headers tree.

Blocks are fetched in parallel from all available outbound peers, using a limited moving window. When one peer stalls the movement of the window, it is disconnected.

No more orphan blocks. At all. We only ever request a block for which we have verified the headers, and store it to disk immediately. This means that a disk-fill attack would require Proof of Work.

We sync from everyone we can, though limited to 1 during initial headers sync.” [22]

“Blocks will be stored on disk out of order (in the order they are received, really), which makes it incompatible with some tools or other programs. The block index database will now hold headers for which no block is stored on disk, which earlier versions won’t support.” [23]

“To prevent fingerprinting attacks, only send blocks outside of the active chain if they are valid, and no more than a month older (both in time, and in best equivalent proof of work) than the best header chain we know about.” [24] [30]

Anyone who uses Bitcoin Core and coins forks thereof, after Core 10.1 are indiscriminately forcing all other peers to adhere to these extremely vulnerable conditions. Developers who fork this code-base for their projects and are unable to maintain majority mining power on the network; Are essentially powerless to an attacker that temporarily allocates an excessive amount of hash power, then double-spends funds and gets away with a handsome reward at an unsuspecting exchange or merchant service. This is exactly what Bitcoin was originally designed to prevent!

Bitcoin source code can be exploited under certain conditions, messing with security and functionality will open a new range of attack vectors and unintended consequences. [25] [26]

Attack vectors found in ChainActive related will not be fully exposed in this paper, they can be full explored pretty easily if you’re experienced in software or network security.

A Time-Shift & Double-Spend Attack Is Possible!

“Determine which height to jump back to. Any number strictly lower than height is acceptable, but the following expression seems to perform well in simulations (max 110 steps to go back up to 2**18 blocks).” [27]

“Timestamp not-too-late: The code checks that the timestamp is less than 2 days in the future. This is context-independent because the code just compares the block’s timestamp against the system time. If you and your peer are 15 blocks away from one another, you’ll surely find a common block that’s within a few blocks of the fork point and only one further iteration of Locator will be required to find the fork point. However, if you and your peer diverge by 10,000 blocks, the Locator may only find a common trunk that’s a few hundred (or more) blocks before the fork point, so another two or three Locator objects will need to be exchanged to zero in on the fork point.” [22]

“The second circumstance where we will disconnect a peer is where the peer manages to stall your entire download by preventing the moving window from progressing…. If Alice continues to stall the moving window for 2 seconds, you will drop Alice and replace her with a more reliable peer. In the meantime, your node will request blocks 1000 to 1016 from one of your other peers so your moving window can start moving again.“ [28]

“Headers-first sync does not only open a new set of attack vectors, is simply doesn’t stop the attack it was designed to mitigate.” [29]

“With headers-first we can compare against the best header timestamp, rather than using checkpoints which require code updates to maintain…. chain if they are valid, and no more than a month older than the best header” [24] [30]

“Better fingerprinting protection for non-main-chain getdatas. With headers-first we can compare against the best header timestamp, rather than using checkpoints which require code updates to maintain.” [30]

“Don’t bother if send buffer is too full to respond anyway.” [31]

“We consider the scenario of an attacker trying to generate an alternate chain faster than the honest chain. Even if this is accomplished, it does not throw the system open to arbitrary changes, such as creating value out of thin air or taking money that never belonged to the attacker. Nodes are not going to accept an invalid transaction as payment, and honest nodes will never accept a block containing them. An attacker can only try to change one of his own transactions to take back money he recently spent” — Satoshi Nakamoto

If a coordinated hash rate war begins, an attacker is also performing a “time-shift” attack and impose devastating effects on the network. It could actually be rolled back! All the way back to the genesis block under extreme cases! If any nodes attempt to fight this drastic change on the network: They’re disconnected. In the original Bitcoin implementation: blocks were fully analyzed for validity. After Core 0.10.1 the blockchain is no longer the blockchain anymore, it’s no longer set in hash check-sums for ordering and proof of work, it gets reassembled in order according to the wallet interpreting the longest chain with the most proof of work for the network, and then enforces it as consensus by default without being able to access full block data to make a proper decision to begin with.

By making a small change to this line #172 in miner.cpp an attacker can guarantee their blocks will be accepted BEFORE any other blocks by the network. If they have more proof of work over the previous valid chain, their node enforces new block headers; All other wallets and will reorganize their block-chains automatically! This is where a double spend can enhance this type of attack into a very profitable and plausible opportunity for abuse.

The basics of such an attack are quite simple; If block hash times are altered, it directly affects the difficulty re-targeting code. This procedure can be fooled into adjusting LOWER instead of HIGHER as it should! Exponentially making it significantly easier for the attacker to maintain complete control over all new block creation. [32] [33] [34] [35]

If a block is created after the last most valid block, the re-targeting code calculates as it was ON TIME OR LATE, so the difficulty attempts to compensate for the illusive interval change

Overwriting past blockchain data can be then accomplished by an attacking chain that causes other nodes to stall and accept the malicious fork, they may be valid pools with the most valid consensus proof of work! If all the nodes can’t compete in terms of valid proof of work they might be completely wiped off the network. This attack can also affect the future performance of the network for up to a few days! The wallets are tricked into reorganizing the chain because of an over-inflated proof of work value, and lack of consensus enforcement among peers.

Centralized Coin Distribution

“[N]ah, it’s still Calvin/Craig who operate more than 95% of the hash. They just switch up the distribution every once in a while to make it appear as more mining entities.” [36]

This should have warning signs all over it, Calvin and Craig are essentially playing technical tug of war against each other, while encouraging others to participate. No other mining entities can come close to the central control of hash power already on the network. The two main pools both simultaneously inflate the difficulty in hopes of eventually increasing the price directly in conjunction with mining costs increasing. New miners will most likely lose their investment once large amounts of previously generated coins are sold on the market quickly by Craig’s team, or an attacking entity performing a double-spend attack.

Patents For General Public Knowledge


“The invention may provide a computer implemented method. It may provide a security method. It may provide a method of encrypting data at an electronic device (S), the electronic device being associated with a key device ©. The electronic device may be further associated with a first asymmetric cryptography pair having a first electronic device private key (V1S) and a first electronic device public key (P1S), and the key device may be associated with a second asymmetric cryptography pair having a first key device private key (V1C) and a first key device public key” Feb 14, 2017 [37]

“Secret Sharing techniques are now the building blocks of several security protocols. A (t,n) threshold secret sharing scheme is one in which t or more participant can join together to retrieve the secret. Traditional single secret sharing schemes are modified and generalized to share multiple secrets.” March 31, 2016 [38]


Asymmetric cryptography pairing has been around since the mid-1970s. Well regarded for varied purposes include Diffie-Hellman key exchange, Digital Signature Standard, RSA, various elliptic curve, and PGP among many others. These are well known among experts familiar with public-key cryptography.


“It provides a computer implemented method for performing a transfer, the method comprising scanning entries in a distributed hash table (DHT) distributed across a first network, the DHT comprising a plurality of entries, each entry comprising an invitation to perform an exchange and a link to a transaction on a peer-to-peer (P2P) distributed ledger distributed across a second network, each invitation including metadata comprising an indication of entities to be exchanged and one or more conditions for the exchange; determining a match between a first set of metadata in a first invitation of a first entry from a first user and a second set of metadata in a second invitation of a second entry from a second user, the determining comprising: identifying a match between indications of entities to be exchanged in the first and second invitations; and identifying a match between one or more of the conditions of the first invitation and one or more of the conditions of the second invitation;” [40]

“If someone want’s the possibility of charge-back, they can use an escrow transaction, which isn’t implemented yet but will be one of the next things. For instance, a transaction can be written to designate a third party to decide whether it is returned if the payer does not release it, with auto-release after a number of days. I’ll implement a more basic form of escrow first, but the network infrastructure includes a predicate language that can express any number of options.” Satoshi, Nakamoto email to Mike Hearn. April 27, 2009

“A few use cases are the use of it in the escrow; escrow can be released without the mediator if the transaction is completed without issues. does this. For the security, some exchange do use multisig in conjunction with third parities such that transactions can only be created with approval from all parties. In Electrum, the TrustedCoin feature acts as a third party and only sign their signature if the 2 factor authentication code is accurate. All in all, yes, there is a good amount of use of multisig.” [41]

This appears to be an alteration of the method for doing Atomic Swaps described on Bitcointalk by the user TierNolan. This method been adopted by many other crypto-projects since 2013 and is well known among enthusiasts and industry professionals.


“Extracting, from a blockchain transaction (Tx), data comprising or relating to a sub-key of an element; and transmitting the extracted data to a non-blockchain based computer system. The non-blockchain based computer system may not be part of the blockchain.” [42]

Generally, that’s what a block explorer does. It extracts data from the blockchain, relating to a hash, address relating to a public key or transaction; Converts the data to HTML format and securely transmits it to a web-browser via HTTPS. This isn’t something new and has been general public knowledge for quite some time. In general, the patent is not specific!


“The invention may provide a cryptographic method and corresponding system. It may provide a blockchain-implemented method/system. It may provide a control system for the secure identification, extraction, transmission, processing and/or update of data. This data may be derived, access or copied from a blockchain. It may provide a method/system of using cryptographic keys to integrate a blockchain with a non-blockchain implemented computing resource such as a data storage/processing resource. It may provide a method/system of using cryptographic keys to identify and/or extract data from a blockchain. It may provide a method/system for integrating that blockchain-sourced data into a non-blockchain implemented storage resource. The entity may be referred to as an organisation, system or network. It may be a logical entity, a virtual, computer-based or a physical entity. It may comprise natural person(s).” [43]

These may be too general to be considered technical descriptions to fully protect this above patent. Good luck seeking litigation from anyone who infringes upon this. nChain is blatantly attempting to patent a method that “may use” so many different types of technology together, but never fully describe the proprietary processes. This one should have been rejected for “patent-trolling”, there is no specific system described.


“The invention may require the interaction and inter-communication of various distinct and separate computer-based resources, such as one or more user devices and a distributed computer system (blockchain) which includes computing nodes arranged to execute blockchain-related software and protocols. The invention may provide a computer implemented method of performing an exchange of entities. The exchange may be made between a first user and a second user. It may be an exchange made over a computer network. The network may be a blockchain-implemented network. The term “user” may refer to a human user or a computer-based resource. The invention may provide an exchange control method for controlling the exchange or two or more entities. It may provide a tokenisation method for the exchange of digital entities. The invention may be described as a blockchain-implemented method.” [44]

“Alice owns Viacoin, Bob on the other hand is a strong Lite coin advocate but he wants Viacoin because he believes it has a bright future, how can Alice & Bob exchange an amount of their stash for the other without going trough a third party? The answer is Hashed Time-locked Contracts, TLC in short.“ [45]

“One of the criteria to get a patent is that the invention should not be available publicly. That is the invention should not be available in any form, written, as a video, or as a product. Existence of a product also means that someone else has invented it.” [46]

“The philosophy of the movement is that the use of computers should not lead to people being prevented from cooperating with each other. In practice, this means rejecting proprietary software, which imposes such restrictions, and promoting free software, with the ultimate goal of liberating everyone in cyberspace” [47]

You can’t patent general uses for the scripting language implemented in Bitcoin. Anyone can set up an exchange and use the Bitcoin protocol the way it was designed by Satoshi, and not pay royalties to Craig. Hold Hold have already produced a working concept, that’s more that can be said about nChain development.

Patenting general intellectual property would not be very presented as a strong argument if any lawsuits take place in an attempt to enforce exclusive rights. All the mentioned technology “methods” have been long-known by developers within the cryptocurrency industry prior to the release of patent applications, not to mention the countless proof of concepts already functioning. A patent is only as good as your ability to enforce legal protection, it doesn’t guarantee to eliminate marketplace competition.

Evidence Of Ruthless Lie After Lie, Corruption, And Manipulation

“To prove his bold claim to be Satoshi, Wright released an abstract of a research paper called “Black Net” (and not Bitcoin) that he supposedly wrote for the Australian Government back in 2001. This abstract is identical to Satoshi Nakamoto’s Bitcoin white paper published in October 2008. There was however a previous draft of Satoshi’s white paper published in August 2008. When if compared to the official white paper, there are certain corrections made that were also visible on Wright’s research paper.” [48]

“May applied the idea in 1993 with BlackNet — though published anonymously to begin with, he later announced that he had created the market as a proof-of-concept. It combined the use of a chain of remailers (a staple of cypherpunk communications), and PGP encryption (of course) to protect the identity of the organisation in question, as well as that of any potential sellers.” [49]

“It Was a Mistake to Blog Claiming Craig Wright Is Satoshi” — Gavin Andresen

“Bitcoin Core Dev Gavin Anderson’s GitHub Commit Access Removed. Gavin is a gullible milquetoast that shouldn’t be contributing to the core code anymore.” [50]

Craig “apparently” talking to his colleague about the creation of the Bitcoin White-paper in 2008. PROVEN TO BE FAKE!” [51]

“Actual emails Craig was talking to his colleague show the subject: Defamation and the difficulties of law on the internet.” [52]

“The actual emails Craig was talking to his colleague show it was actually on a security mailing list, and thought it was off topic” [53] [54] [55]

“The public is expected to believe non-public demonstrations of proof made to trusted authorities, and using a verification tool with a deception mechanism. But how did Craig Wright fool a technically adept Gavin Andresen? A possible answer is that he used a similar deception to his verification script. Gavin Andersen’s unconditional endorsement seems odd on the surface, but reading between the lines, he might also be a collaborator to the hoax — Craig Wright is, after all, talking about a blocksize of 300GB+ and that he intends to apply his authority to “tidying up Bitcoin”. [56]

“Craig Wright took a few months to regroup and plan his Second Coming but has again failed to provide even one convincing piece of evidence to support his claim. In fact, Craig Wright has only managed to discredit himself:” [56]

“In the latest stage of an ongoing legal battle over Wright’s alleged theft of Bitcoin(BTC) from the estate of deceased crypto developer David Suleiman, a South Florida District Court judge denied an application to have the charges thrown out. The case originally came to court in February, with Suleiman’s family alleging Wright stole up to 1.1 million BTC after he passed away.” [57]

“This seems to prove that Craig Wright published fake evidence in an attempt to establish his legitimacy as the real Satoshi. The reasons for wanting to claim to be Satoshi are obvious -fame and respect from all members of the crypt space and technology industry at large. However, Wright only released this new “evidence” on February 10th. If he was Satoshi and his evidence was credible, why would he waited that long to release it?” [48]

“oukeH discovered that the signature on Craig Wright’s blog post is not a signature of any “Sartre” message, but just the signature inside of Satoshi’s 2009 Bitcoin transaction. It absolutely doesn’t show that Wright is Satoshi, and it does very strongly imply that the purpose of the blog post was to deceive people. So Craig Wright is once again shown to be a likely scammer. When will the media learn?” [58]

“The Australian federal police, which conducted the raid, claims in a statement that the raids are not connected to the bitcoin reports, but rather an ongoing tax probe. The AFP can confirm “It has conducted search warrants to assist the Australian Taxation Office at a residence in Gordon and a business premises in Ryde, Sydney, according to the statement, which was published by The Guardian. “This matter is unrelated to recent media reporting regarding the digital currency bitcoin.” The Australian Taxation Office could not be immediately reached for comment.” December 9, 2015 [59]

“During 2015 Mr Cranston was the Deputy Commissioner at the time of a major operation which led to 100 tax officers raiding the Sydney premises of 12 firms, including lawyers, accountants and liquidators. The 12 firms were suspected of involvement in phoenix operations, whereby companies run up tax liabilities, fail to pay the tax liabilities, and money or assets disappear or are stripped from the companies before the companies are deliberately bankrupted by the proprietors.“ [60]

“Australian Taxation Office deputy commissioner Michael Cranston allegedly told his son how to avoid being prosecuted for tax fraud, saying he could “mount a good case” for his eldest child that may throw investigators off. Mr Cranston, 57, is captured in phone intercepts allegedly suggesting that Adam Cranston should tell a judge that he is not “the real director” of the fraudulent scheme’s parent company and canvassing the possibility his son may be pursued for “unexplained wealth”. June 21, 2017 [61]

“You wanted to know who made Bitcoin. You get to learn in a manner that is going to completely eradicate the scams in this industry and start holding People to account. You do not have a right to lies under free speech nor harassment, nor libel and slander. If an error is reported in a malicious context concerning me. Expect to be living in a barrel when we finish with you.” Craig Wright [62]

Who Owns The Bitcoin Trademark?

Registration Serial 88055293
Filing Date: 07/27/2018
Owner of Mark: Coin Legal Ltd
Street: Kemp House, 152–160 City Road
City: London
Country: United Kingdom
Identification: IC 036. US 100 101 102. G and S: Cryptocurrency, namely, providing a digital currency or digital token for use by members of an on-line community via a global computer network; Cryptocurrency, namely, a digital currency or digital token, incorporating cryptographic protocols, used to operate and build applications and blockchains on a decentralized computer platform and as a method of payment for goods and services. FIRST USE: 20090112. FIRST USE IN COMMERCE: 20090112

Alright so there it is, filed four months BEFORE Craig Wright came along with his own copyright claims, but 10 years AFTER releasing the source code and white-paper? Something doesn’t seem right here. Why would both of these entities decided to claim copyright so long after publicly releasing it? Why wait so long after publication?

“Copyright is automatically granted at moment of creation. There is no obligation to register the work in a registry. However, you need to prove you did create the work at a given date” — Satoshi Nakamoto

The white-paper began to circulate on the internet in early 2009, millions of people have seen or read it, thousands have downloaded copies on their hard drives. This paper did not suddenly appear after the registration date by Roberto, or Craig! It was many years prior. Trademark laws for legal rights can be either on a “first to file” or “first to use” basis; Both are not the same and could be challenged in court to prove their validity.

“The US Copyright service is only an additional way to timestamp or claim, material. Clearly, Craig Wright has lost all credibility, he is me, Satoshi Nakamoto. Right now he tries to lure people in his alt-coin, bitcoinSV (bsv), abusing the name bitcoin, to promote it as a better version of the original bitcoin core (xbt, btc), after the hard-fork in the alt-coin bitcoin cash.

It is his last trick and card to play, because I registered the white paper bitcoin.pdf at a Belgian notary office, long before the distribution on the internet in the period 2008–2009. To avoid, people like Craig Wright would claim my work.

In regards of the source code. The source code is published using the MiT license. It is published to the public and it is open source. He can not claim copyright on the source at all, as there is no link to him and me, Satoshi Nakamoto. In a court case, he would fail.” [63]

Blockchain Will Solve All World Problems?

“Blockchain systems do not magically make the data in them accurate or the people entering the data trustworthy, they merely enable you to audit whether it has been tampered with. A person who sprayed pesticides on a mango can still enter onto a blockchain system that the mangoes were organic. A corrupt government can create a blockchain system to count the votes and just allocate an extra million addresses to their cronies. An investment fund whose charter is written in software can still misallocate funds.” [64]

Contrary to Craig S. Wright’s claims that Bitcoin itself will eradicate scams in this industry; It will make investigations more transparent and public but the protocol does not police activities of its users nor does it enforce any laws. The Bitcoin protocol was designed to maintain a fixed money supply and an inflation rate that must be fully agreed upon by all nodes on the network to be changed.

Blockchain solutions can assist many diverse industries, even those with non-technical aspects currently. Distributed databases using similar consensus mechanisms to those found in Blockchains — could radically change how information is currently stored on mainframe servers, increasing efficiency, and security in the process.

Real solutions exist but are not found in Bitcoin SV

Bitcoin — intrinsically: is leadership resistant, and requires all nodes on the network to reach a consensus before major changes are implemented in the protocol. This development cooperation is essential for the network function as a means of a reliable censorship resistant, transfer for a store of value — a peer to peer decentralized currency.

Profit Hunters Coin has been working very towards Satoshi’s original vision, at the same time making adjustments and improvements based upon what the industry has learned over the last 10 years.

Implementing unique features only available in the PHC wallet; Dynamic Block rewards to discourage hyper-inflation, an artificially intelligent firewall to protect against double-spends, flooding, and malicious network traffic. Block & Chain shield for improved security of block validity and secure handling of “chain-splits” and “chain-forks” alongside Dynamic Checkpoints; Decisions required by nodes in these situations are automated by peer consensus. TurboSync has been added to improve block propagation, showing initial performance gains of almost 5X the default in Bitcoin Core 8.

ASIC choker is still under development, primary tests show successful protection by ensuring the distribution of new coins is not favored to miners with the most hash power.

We’re attempting to also bring back CPU mining without changing the hash algorithm like conventional solutions. We hope to ensure CPU/GPU mining will also be compatible with ASIC miners. This can radically change mining efficiency and profitability. We confidently think we’re closer to Satoshi’s Vision 2.0 than any other project to date. Take a look at our development branch and join us while we launch our PHC Fork #2 test!

“Bitcoin cash is Bitcoin. Enjoy competition ;)” — Dr. Craig S Wright Twitter (14 Nov 2017)

“The blockchain ecosystem gave him too many chances to come clean and prove his skills which he thinks so highly off, but alas Craig only focused on talking and very less on doing. After receiving heat for his claims of being the original creator, his trust with the Bitcoin cash community during the infamous hard-fork of the network took the dislike to an all new level.” [65]

Other Contributions:

“Proof-of-work has the nice property that it can be relayed through untrusted middlemen. We don’t have to worry about a chain of custody of communication. It doesn’t matter who tells you a longest chain, the proof-of-work speaks for itself.” — Satoshi Nakamoto

“Bitcoin is an implementation of Wei Dai’s b-money proposal on Cypherpunks in 1998 and Nick Szabo’s Bitgold proposal” — Satoshi Nakamoto (July 20, 2010)

“Leadership is a privilege to better the lives of others. It is not an opportunity to satisfy personal greed.” — Mwai Kibaki

“Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.” Satoshi Nakamoto (2008–11–07)

“Craig Wright has become the blockchain troll, who had the efficiency and resources to create something unique and productive for the world and he could have been the first Craig Wright. But, instead, Craig decided to create an identity crisis for himself where the world know that he is not the creator but also calls him Faketoshi. Now whatever Wright does, no matter how great the final outcome would be, but he will always be known as Faketoshi.” [64]

Thanks goes towards all Bitcoin developers, social media, PHC and other legitimate alt-coin community members expressing their concerns over the BTC/BSV debate and ongoing lawsuit involving Craig Wright. Also, anyone else that may have (in)directly contributed to this technical report.


[1] BitcoinSV Homepage
March 2019

[2] A Short History Of Bitcoin And Crypto Currency Everyone Should Read
Forbes — Bernard Marr, Dec 6, 2017

[3] CryptoMarketsWiki
nChain — March 2019

[4] Aussie achieves world’s first audit certification
ComputerWorld — Darren Pauli 22 August, 2007

[5] Why Craig Wright and Calvin Ayre are Claiming Bitcoin is Headed to Zero — Rick D, Jan 29, 2019

[6] Craig Wright Of Bitcoin SV (BSV) To Utilize 1 TB Blocks ‘Terranode Bitcoin’ Within 2 Years Bitcoin Exchange Guide News Team, December 3, 2018

[7] COUNTRIES WITH THE FASTEST INTERNET IN THE WORLD 2018 — Suzanne Lai, September 30, 2018

[8] Measuring maximum sustained transaction throughput on a global network of Bitcoin nodes — Bitcoin Unlimited, University of British Columbia, nChain, Sep 25, 2017

[9] Unwriter announces Bottle, a Bitcoin browser — Derek Tonin, 22 MARCH 2019

[10] Is Blockchain Technology Really the Answer to Decentralized Storage? — Frisco d’Anconia, SEP 24, 2017

[11] Storing Documents on the Blockchain: Good or Bad Idea? — Anca Faget, January 28, 2019

[12] Bitcoin SV in 2019: An Interview with Jimmy Nguyen — Jan 16 2019

[13] Bitcoin Cash Hard Fork Aftermath: BCHABC And BCHSV Continue To Battle It Out — Jeremy Wall, November 21, 2018

[14] [Grand Theft Bitcoin: Scam City] Craig Wright Attacks Jihan Wu and Roger Ver Bitcoin Exchange Guide News Team, November 12, 2018

[15] Craig Wright Releases ‘Satoshi Vision’ Bitcoin Cash Client, Launches Mining Pool CCN — Josiah Wilmoth, 01/09/2018

[16] Bitcoin SV [BSV] Price Analysis: Bears dominate market as token’s downtrend continues — Aakash Athawasya, March 22, 2019

[17] Tim May: Original Crypto Anarchist Who Was Displeased With Crypto Hype — Stephen O’Neal, DEC 18, 2018

[18] Craig Wright Threatens to Crash BCH’s Price to Zero in an Email to Roger Ver — November 9, 2018

[19] @VitalikButerin Twitter — April 5, 2018

[20] Craig Wright Wants to Kill Satoshi by Becoming Him…Again. — Wendy McElroy, Mar 9, 2017

[21] Replying to Twitter — @JasonGaylord10 — March 20, 2019

[22] Bitcoin Core 0.11 (ch 5): Initial Block Download — March 24, 2019

[23] Bitcoin Core version 0.10.1 released April 27, 2015

[24] Better fingerprinting protection for non-main-chain getdatas. GitHub — sipa authored and laanwj committed on Feb 24, 2015

[25] Eclipse Attacks on Bitcoin’s Peer-to-Peer Network — August 12–14, 2015 • Washington, D.C.

[26] Tampering with the Delivery of Blocks and Transactions in Bitcoin — Arthur Gervais†, Hubert Ritzdorf†, Ghassan O. Karame‡, and Srdjan Capkun, 2015

[27] Compute what height to jump back to with the CBlockIndex::pskip pointer. Github — sipa — Jan 25, 2018

[28] Why max target is not (2²⁵⁶ — 1)? — Pieter Wuille, Jan 6, 2018

[29] How does headers-first prevent fill-disk attack? — David A. Harding, Jun 7, 2018

[30] Better fingerprinting protection for non-main-chain getdatas. Github — sipa authored and laanwj

[31] Don’t bother if send buffer is too full to respond anyway. Github

[32] GetBlockProofEquivalentTime Github

[33] Target

[34] Difficulty

[35] I Can’t Believe It’s Not Stake! Resource Exhaustion Attacks on PoS Sanket Kanjalkar, Joseph Kuo, Yunqi Li, Andrew Miller

[36] Bitcoin Cash Pools: The Majority of Bitcoin SV Blocks Are Mined By ‘Unknown’ [Yes, Really] — P. H. Madore, 19/02/2019


[38] Threshold Multi Secret Sharing Using Elliptic Curve and Pairing — V P Binua, A Sreekumarb

[39] A robust threshold elliptic curve digital signature providing a new verifiable secret sharing scheme — 2003 46th Midwest Symposium on Circuits and Systems — 27–30 Dec. 2003


[41] Re: n-of-m transactions — December 28, 2017, 03:29:17 PM ranochigo


[43] CONSOLIDATED BLOCKCHAIN-BASED DATA TRANSFER CONTROL METHOD AND SYSTEM — Feb 21, 2017, Craig Steven Wright (London), Stephane Savanah

[44] BLOCKCHAIN-BASED EXCHANGE WITH TOKENISATION — Feb 14, 2017, Craig Steven Wright (London), Stephane Savanah

[45] So How Do I Really Do An Atomic Swap — Feb 3, 2018, hotshot

[46] Can someone patent a product which is already in use but isn’t patented? — Nov 21, 2016, Gopal Krishna

[47] Free Software Movement

[48] Craig Wright Gets Caught Lying About Being Satoshi Nakamoto (Not The First Time) — TOJU OMETORUWA, FEB 12, 2019

[49] Dark Markets: Tim May’s BlackNet — Matt Dec 20, 2018

[50] Bitcoin Core Dev Gavin Anderson’s GitHub Commit Access Removed — TraderTimm May 03, 2016

[51] Bitcoin SV — Telegram User

[52] Craig S Wright’s email to Dave Kleiman is provably false — byu/fbonomi 2018

[53] RE: Defamation and the diffculties of law on the Internet. — Dave Kleiman, 12 Mar 2008

[54] RE: Defamation and the diffculties of law on the Internet. — Craig Wright, 12 Mar 2008

[55] Re: Defamation and the difficulties of law on the Internet. — Al MailingList, Sat, 8 Mar 2008

[56] Craig Wright Is Not Satoshi Nakamoto — the Technical Proof — Venzen Khaosan 03/05/2016

[57] $4 Billion Lawsuit Against Craig Wright Moves Forward as Judge Declines Dismissal — William Suberg, DEC 28, 2018

[58] Craig Wright’s signature is worthless — u/theymos, 2017

[59] Police Raid Suspected Bitcoin Founder’s House — December 9, 2015, Mathew J. Schwartz

[60] Michael Cranston

[61] Michael Cranston captured in phone taps on ‘$144m ATO tax fraud — June 21, 2017, Rachel Olding

[62] Craig Wright announces intention to file for harassment, libel and slander against false/erroneous claims — March 18, 2019, Akash Girimath

[63] Why did Craig Wright try to copyright that he’s the author of the white paper describing Bitcoin — Satoshi Nakamoto

[64] Blockchain is not only crappy technology but a bad vision for the future — Apr 5, 2018, Kai Stinchcombe

[65] Why Craig Wright Is One Of The Most Unliked Personalities In The Crypto Space? — Prashant Jha, Mar 5, 2019