Self-proclaimed Satoshi Nakamoto Responds to the Commodity Futures Trading Commission

Self-proclaimed Satoshi Nakamoto Responds to the Commodity Futures Trading Commission

Craig Wright has claimed that he is Satoshi Nakamoto, the creator of Bitcoin, and has made a lot of hype with this claim. On Friday, February 15, he sent two almost identical return letters to U.S. Commodity Futures Trading Commission (CFTC) as a senior scientist at the nChain institute.

According to reports published in this regard, these two letters were sent in reply to a Request For Information (RFI) from U.S. CFTC, which were submitted to this commission in order to receive information about Ethereum industry, people’s view about it, and its mechanism.

U.S. CFTC had set the deadline for replying to the RFI until Saturday, February 17. This commission explained about its insistence in getting information as follows:

“these data are gathered to further the mission of U.S. Commodity Futures Trading Commission in order to guarantee the integrity of derivatives market, more supervision and reducing systematic risks by improving the certainty of regulation in this field. The Request For Information (RFI) is an attempt to identify the similarities and differences between special cryptocurrencies, and also to identify the risks, opportunities, and challenges related to Ethereum.”

The feedback letters sent by Craig Wright prove his controversial claim that he’s been working with the pseudonym Satoshi Nakamoto (Bitcoin’s anonymous creator). He claims that he has finished a project which began in 1997 as part of an industrial project for Australia’s Department of Innovation, and got registered with the name BlackNet. On February 10, Craig Wright published a tweet on his official Twitter account and said that the BlackNet project (which some believe is the preliminary format of Bitcoin) was delivered to the government of Australia in 2001.

Craig Wright has claimed that before Bitcoin’s governmental, precise, and comprehensive report (white paper) got out, he had finished this project, and the fact that the details of Bitcoin’s white paper and this project are in fact similar, led to this tweet causing quite a ruckus.

Some of the users of Reddit said that in the notes for the BlackNet project, the exact and official Bitcoin white paper that was released in 2008 was unveiled. Satoshi Nakamoto first released the Bitcoin white paper in August of 2008, and after imposing some important alterations, he published its official version in the October of the same year.

Also, some users of Reddit believe that the research and development report of this project which was published in 2001 was copied from the improved version of Bitcoin white paper (and not its primary and draft versions), and this has poked a hole in the plans of all who claim to be Satoshi Nakamoto, and shows that Craig Wright’s claim that he is Satoshi Nakamoto as the main creator of Bitcoin was only a sly attempt.

In a feedback letter he sent CFTC on February 15, Craig Wright stated that:

“due to misunderstandings and misinformation about Bitcoin that has become prevalent, I decided to reveal my identity to the public. My aim for designing the Bitcoin system was to end frauds and scams in the best way of getting help from the technology. Misunderstanding and ignorance about this aim has promoted traditional scams even more than before.”

The current reports indicate that Craig Wright is being indicted for stealing Bitcoin from the deposit of late David Kleiman, cryptocurrency developer who passed away in 2013. In mid-November 2018, after disagreements about the Bitcoin Cash fork, Craig Wright became the center of attention in the cryptocurrency world, which led to his supported protocol prevailing and the creation of BitcoinSV.

Fork or branch in cryptocurrencies is a kind of software update. In fact, the protocol or code of a cryptocurrency is updated a fork has taken place. Fork creates a different version of the cryptocurrency’s Blockchain, and both Blockchains are allowed to run simultaneously in different parts of the network. There are two types of forks; Soft fork, which is a branch of a cryptocurrency that is compatible with it and optional. Hard fork, which is a branch of the cryptocurrency that is not compatible with its previous version and obligatory. In a hard fork, previous rules are neglected, and a new code is used.

Other known figures in the cryptocurrency world have responded to U.S. Commodity Futures Trading Commission, among whom are the Ethereum foundation crew, Coinbase, ConsenSys, and the company R3. The newly-founded exchange ErisX in Chicago, U.S., has proposed the positive effect of facilitating future Ethereum contracts in his feedback letter.