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Craig Wright sues BCH and BTC Core developers

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  • Craig Wright has filed a lawsuit against the developers of the Bitcoin Cash and Bitcoin Core
  • Wright is demanding access to two Bitcoin wallet addresses, among which one was associated with the MtGox hack 2014
  • The developers are accusing Craig of threatening them
  • The latest filed lawsuit is expected to be doomed to failure

Craig Wright, the person who claims him to be Satoshi Nakamoto, has recently filed a lawsuit against Bitcoin Cash and Bitcoin Core developers. It is known that Wright demands access to two wallets associated with the hacking of the MtGox exchange. The self-proclaimed creator has filed the lawsuit in the High Court of London through the law firm Ontier LLP.

Why does Craig Wright need access to those wallets?

According to the filed documents, it is observed that Craig Wright and his Tulip Trading LTD has demanded the access of two wallets holding 31k BTC and 79,957 BTC, respectively. Among both the wallets, the larger wallet was linked to the MtGox hack in 2014.

According to Wright, in February 2020, some bad actors had stolen the private keys of both wallets. Moreover, the malicious actors had also deleted the copy of those keys from Craig’s computer. For the aforementioned reason, he cannot access both the wallets, which he used to manage on behalf of his trading firm. On the other side, as the Bitcoin Core developers control other people’s wallets, he demanded them to hand over the keys to him.

The self-proclaimed BTC creator is threatening developers

Craig Wright is trying to threaten them with litigation, bankruptcy, and life destruction, according to the accused developers. Moreover, the administrator of Bitcoin.org, alias CobraBitcoin, stated that Wright’s interference with the developers’ productive work is harming the technical progress.

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Cobra with the developers is also observed urging the community. They want to unite and ensure that Craig Wright should not bully individuals contributing to Bitcoin Core development. In a recent tweet, cobra shared a screenshot in which the claim header lists Wright himself and Cory Fields, one of the leading Bitcoin developers, as the plaintiffs. After which, Wright’s Bitcoin association was also among the defendants. However, it seems like the documents can be fake or might be a judicial error following the errors.

Fulfilling Wright’s demand is technically impossible

Observing Craig Wright’s accusations against the developers, it seems like it is another attempt of Wright reminding himself of the impossibilities. The fact is clear that the developers will not provide any access key that doesn’t belong to them. After all, to gain access, he will need a 51% attack on the BTC blockchain, which will cost multi-billion dollars. However, Wright’s claims are taken as the grain of salt, which is expected to be doomed to failure.

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The Cycle Started, Mike Novogratz Says – Bitcoin Boom Is Here; Jack Dorsey Boosts BTC’s Price

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Mike Novogratz is one of the essential names in the crypto space which is celebrating the booming price of Bitcoin.

Check out what he had to share with his followers and Twitter fans:

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Someone hopped in the comments section and said this; ‘Anyone who has not yet embarked on the crypto band wagon is a simple minded idiot who knows nothing about markets, freedom or wealth creation.’

Jack Dorsey boosts the price of BTC

It’s been also revealed that Jack Dorse said that Square could build a BTC mining system – this obviously triggered a more massive price race for the king coin.

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $61,118.15.

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CNBC online publication just noted that Square CEO Jack Dorsey said late on Friday the company is considering jumping into BTC mining business.

Dorsey tweeted that the company is considering a “bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.”

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Dorsey’s goal would be to make crypto mining more accessible. We suggest that you check out the complete thread that Dorsey shared on his social media account in order to learn all the available details.

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Pantera Capital’s Dan Morehead: Bitcoin (BTC) Already Up 100% in This Bull Run

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How big is median increase in Bitcoin (BTC) price in bullish market phases?

As Bitcoin (BTC) reclaims $62,000 level, Dan Morehead, CEO of the first-ever cryptocurrency-focused VC firm in the U.S., shares the comprehensive statistics of the last six bull runs for Bitcoin.

Bitcoin (BTC) price doubled in 87 days: Bull Run 2021

According to the latest tweet by Mr. Morehead, the Bitcoin (BTC) price witnessed a 2x increase in the first 87 days of the ongoing bullish wave.

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Unlike many other experts, Mr. Morehead identifies two separate “bull run” phases in 2020-2021. During the previous one, between March 16, 2020, and April 14, 2021, it took 394 days for Bitcoin (BTC) to increase its price 13x and print a new all-time high.

According to his infographic, the most impressive rally ended with a 106x increase of the orange coin’s price in 2015-2017.

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That said, the median Bitcoin (BTC) price bull run lasted for 300 days and increased the “king coin’s price” by 15x.

Will Bitcoin ETF mark the top of the BTC cycle?

At the same time, according to “The Next Price Era” letter issued by Pantera Capital on Oct. 6, 2021, the hotly-anticipated approval of Bitcoin (BTC) ETFs is listed amidst the possible “sell the news” events.

Mr. Morehead noticed that the launch of CME Bitcoin Futures and Coinbase direct listing triggered painful bear markets:

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Will someone please remind the day before the bitcoin ETF officially launches?  I might want to take some chips off the table.

As covered by U.Today previously, similar statements were made by CNBC’s Jim Cramer.

The seasoned analyst also revealed his plans to “cash out” 50% of his Ethereum (ETH) bags.

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Bitcoin Will Significantly Underperform Altcoin Market As New Crypto Price Era Unfolds: Pantera Capital’s Dan Morehead

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The founder and chief executive officer of Pantera Capital says that investors can expect altcoins to outperform Bitcoin (BTC) in the long term.

In a recent edition of Pantera’s Blockchain Letter, the head of the digital asset management firm outlines Dan Morehead’s key quotes from the SALT 2021 conference in New York. During the conference, Morehead said that even though his company has greatly profited from BTC, he emphasized that most future crypto gains will come from altcoin investments.ADVERTISEMENT

“My perspective is: Bitcoin has been amazing – Pantera Bitcoin Fund is up 67,000% since inception. However, I think the majority of future gains will be from tokens outside of Bitcoin. I know that sounds heretical to some people here, but that’s my professional opinion.”

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Morehead compares the rise of Bitcoin and its competitors to that of the tech industry boom during the late 1990s.

“It’s like saying in 1998 that [the] majority of future tech gains would come from outside Microsoft.

At the time, Microsoft was worth $218 billion, Apple $3.5 billion, Amazon was $2.2 billion. Google and Facebook were zero – they didn’t even exist. In the years since Microsoft did great – it went up 10x. However, 80% of the tech gains in these five stocks came from outside Microsoft.

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That’s the view I have here – I think BTC is going to go up a ton – like 10x. It’s a great investment…[but] I think the broader portfolio is going to outperform.”

At time of writing, BTC has a market cap of $1.156 trillion while all altcoins combined have a market cap of $1.327 trillion, according to CoinMarketCap.

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