The defendants are Bitcoin Core and Square Up.
Modifications such as SegWit or Taproot denature Bitcoin, according to Wright.
Craig Wright, also known as faketoshi by a large sector of bitcoiners, presented an alleged legal document before the Rolls Building Chancery Division Court, located in London, England, to begin a judicial process on October 10, 2024.
The defendants would be Bitcoin Core, the original client software from Bitcoin developers, and Square Up, a payments company. The demand exceeds 900 billion dollars.
The lawsuit claims that the defendants, without any authorization, They altered the original Bitcoin protocol “introducing modifications such as SegWit and Taproot, which fundamentally deviate from the original system as defined by Satoshi Nakamoto in the Bitcoin whitepaper.”
Taproot was an update implemented in 2021 that amplified the privacy of the network by preventing the disclosure of some data and transaction information that was exposed at the level of Bitcoin Scripts. These scripts or programming rules for Bitcoin expenses could reveal, before the Taproot update, the type of wallet used by the user (single signature, multisignature, etc.).
Segwit or Segregated Witness was an update to Bitcoin activated in 2017. It allowed each block in the chain to begin to have a new structure called a witness, placed apart from the Merkle tree of Bitcoin transactions. This increased transactions per block in bitcoin, among other improvements.
BTC is not the real Bitcoin, according to Craig Wright
According to him document which is attributed to Craig Wright, who as CriptoNoticias reported has previously lost lawsuits against Bitcoin developers, BTC is not the real Bitcoin. The argument present in the judicial document is that the modifications made to Bitcoin have created confusion in the market.
The document, however, that the original version of Bitcoin is Bitcoin SV (BSV), the cryptocurrency created by Craig Wright through a hard fork of Bitcoin Cash, another iteration of the Bitcoin network which sought to satisfy the ideal of this crypto asset as a means of electronic payment.
According to the document attributed to Wright, BSV is the real version of Bitcoin because it “strictly adheres to the original protocol and vision of a peer-to-peer electronic money system.”
“The actions of the defenders have led the public to believe that BTC retains the attributes of the original Bitcoin, causing significant reputational damage and loss of market value for BSV.”
Document attributed to Craig Wright, creator of Bitcoin SV.
The amount requested in compensation for the “damages” by the document is 911,050 million dollars. This amount would represent the difference between the market capitalization between BSV and BTC, the real bitcoinwhere BTC is worth EUR 48,000 per unit and BSV EUR 50.
Bitcoin SV means “Bitcoin Satoshi Vision”, a name that suggests its creator’s intention to stick to the original Bitcoin protocol created by Satoshi Nakamoto. However, the figure of Craig Wright, who proclaimed himself as Satoshi Nakamoto but has not so far given any convincing evidence of being so, is highly discredited in the internet community.