Bitcoin SV [BSV] surged vertically almost over 110% as the news of Craig Wright registering the Copyright for Bitcoin’s Whitepaper came to light. Craig Wright claimed that he is filling the copyright for the Bitcoin Association, which supports and develops the Bitcoin Satoshi Vision [BSV] blockchain.
The price of BSV at 4: 30 hours UTC on 22nd May 2019 is $113. It is trading 80% higher on a daily scale. The total market capitalization of BSV also reached around $2 billion.
Can Anyone File a Copyright?
Bitcoin’s original whitepaper is an open sourced document that outlines the idea and design behind Bitcoin. Calvin Ayre, a BSV proponent and supporter of the claim tweeted,
“Like I said before…everyone who knows me knows that I would not be saying something publicly unless it was true.
#CraigisSatoshi and #BSV is the only real #Bitcoin. Now we prove it to the world.”
Nevertheless, according to copyright laws, the copyright registration for the whitepaper can be filed by anyone who wishes to do it, i.e. it does not require any proof of the authorship or originality. John McAfee who apparently ‘went dark’ resurfaced on Twitter; he noted on the issue that,
“Damn!!! My lawnmower mechanic was going to file a copyright for the same paper next week. I told him he should have acted sooner.”
Mati Greenspan, the senior market analyst at eToro also seemed to support this view, he also tweeted,
“So… should we all start registering the Satoshi WP as our own content now?”
Furthermore, if the Copyright is approved does that make Craig Wrights the owner of the whitepaper and he can stop others from using it? To this Charles Hoskinson, from IOHK tweeted that,
“This isn’t correct. The original work was released under an MIT license. You can’t retroactively revoke that license and then demand royalties”
Therefore, the registration does not provide any proof of the real identity of Satoshi Nakamoto. However, if the application is granted it could open a string of lawsuits from the cryptocurrency developers for an against Craig Wright’s claims and ownership.
Anthony Pompliano, founder of Morgan Creek Digital and popular crypto influencer noted in a tweet,
“Anyone who tries to copyright Bitcoin or the white paper can’t be Satoshi Nakamoto. It shows they don’t understand Bitcoin.”
Moreover, in accordance with Bitcoin’s technical design, all the real owner has to do to claim the ownership of Bitcoin is to sign a new transaction using the original Bitcoin address used by Satoshi back in 2009.
While the legal drama is currently putting a lot of spotlight on the claims, the associated FOMO could adversely harm the cryptocurrency markets. Furthermore, we could also expect more copyright registration for Bitcoin White Paper in the near future with the idea out in the open.
Do you support Craig Wright’s Claims? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com