Vitalik Buterin Documents List of Fake Claims Made by Craig Wright with Proof

Vitalik Buterin, the co-founder of Ethereum, is not afraid of ‘calling out frauds.’ Earlier in an open conference, Buterin had called Craig a fraud, which …

Vitalik Buterin, the co-founder of Ethereum, is not afraid of ‘calling out frauds.’ Earlier in an open conference, Buterin had called Craig a fraud, which sparked a lot of controversies. Now, he has published a fork on Github titled cult of CSW.

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In the report, he has compiled a list of proof of fake claims, including the findings by other people. The report also includes details of a deleted Linkedin account which throws light on Craig’s past involvements compared to his statements.

In one of the links, Andrew O’Hagan, London Review of Books editor, cites how, when, and why the claims started. He writes about “writes about how Craig Wright was paid $15M to claim he was Satoshi to escape financial difficulties.”

Craig’s Bizarre Dilemma

The Judge of the Federal Court found Wright to be ‘serial forger’ in a recent case. Many of his submissions were found to be false. Hence, the judge decided against his and granted damages to the plaintiff.

CryptoMarketapp

The result of the case between self-acclaimed Satoshi, Craig Wright, and Dave Klieman sought to put an end to the debate. However, it apparently put Wright in a bizarre situation.

He now has to pay half of his Bitcoin holdings and Intellectual Property to the Klieman estate. Satoshi had mined 1 million Bitcoins. Hence, if Craig’s claims are valid, he had to share the fortune with Dave Klieman, whom he now recognizes as part of Satoshi. 500k Bitcoins amount to about $5 billion at current prices.

Nevertheless, Wright has claimed that the funds are locked until 2020 by some kind of timed encryption. Moreover, crypto-twitter is overwhelmed by the coup Craig has put himself into. Some suggest that Craig will have to pay $6 billion from his own wealth unrelated to Satoshi’s Bitcoins just to keep his claims alive.

In the past, to gain attention from media, Wright has also lied about owning MtGox Bitcoins. Craig Wright seems to have surrounded himself by controversies all around. While he still claims, that “it is not ever yet,” a mountain of proofs and testimonies leaves very little room for doubt.

Do you think that the ‘faketoshi’ claims will come to an end after this? Please share your views with us.

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Vitalik Buterin Documents List of Fake Claims Made by Craig Wright with Proof
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Vitalik Buterin Documents List of Fake Claims Made by Craig Wright with Proof
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Vitalik Buterin, the co-founder of Ethereum, is not afraid of ‘calling out frauds.’ Earlier in an open conference, Buterin had called Craig a fraud, which sparked a lot of controversies. Now, he has published a fork on Github titled cult of CSW.
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Nivesh Rustgi
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DisclaimerThe presented content may include the personal opinion ofthe author and is subject to market condition.Do your market research before investing in cryptocurrencies.The author or the publication does not hold any responsibilityfor your personal financial loss.
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Is Tether Taking Over the Ethereum Network? Buterin Warns of Issues

This is warning issued last week by Vitalik Buterin, the co-founder of Ethereum. According to tracker Etherscan.io, utilization of the Ether network has …
TetherTether

Processing transactions in the digital token Ether on the underlying blockchain could soon be expensive for some users. This is warning issued last week by Vitalik Buterin, the co-founder of Ethereum.

According to tracker Etherscan.io, utilization of the Ether network has significantly increased to around 90%. Buterin indicated that as utilization grows, so do transaction costs, and that might deter corporate users from using Ethereum.

Tether Replacing ICOs on Ethereum Network

During the height of cryptocurrency, the digital game CryptoKitties was taking off and slowing down the Ethereum network immensely. Then, several initial coin offerings, most of which turned out to be scams, took up even more space on the network, slowing it even more. Now, most of the ICOs are gone, but a new coin has taken over the space previously occupied by them: Tether.

Data researcher Ethgasstation.info reveals that in the past month, Tether has paid computers that process transactions on the Ethereum network close to $260,000 in fees. This is 17.5 times more than CryptoKitties and six times more than IDEX, the largest distributed exchange in the World. The use of Tether is on the rise in recent weeks following more coins being issued.

>> Slim Chance of Bitcoin (BTC) Hitting $20,000 USD By End of Year

Tether’s Market Cap Exceeds $4 Billion

According to CoinMarketCap, the coin’s market capitalization recently exceeded $4 billion, growing from $2.7 billion in 2018. Last month, John Griffin, a finance professor at the University of Texas, estimated that around 40% of Tether runs on the Ethereum network.

Recently, Coin Metrics indicated in what is seen as the growing popularity of the coin that it was used in 40% of all transactions on Binance and 80% of transactions on Huobi. With Tether taking up more space in the Ethereum network, then it means less space will be available for other developers.

Most crypto enthusiasts touted Etherreum to be better than Bitcoin because of its extra features. For instance, users could automate tasks as well as set autonomous corporations running themselves through software. But with this new development, some developers are avoiding Ethereum until it tweaks the network to increase capacity.

Featured image: DepositPhotos © artefacti

Cryptocurrency in Focus: Ethereum Aims for ‘Serenity’

… high fees associated with these volumes have been a deterrent to adoption by large businesses, said Ethereum’s founder, Vitalik Buterin, recently.

Leading cryptocurrency project Ethereum (ETHGet Report) garners a lot of attention in the industry, but this is a particularly interesting time for the asset as its ratings have declined over the last two months. Price has also dropped significantly.

As the prominent “smart contract platform” in the space, Ethereum boasts a market cap just over $20 billion at the time of this writing. Ether, ETH, is the native currency and lifeblood of the platform, used as “gas” to pay for network transactions.

Nearing ‘Serenity’

The Ethereum blockchain — or database containing transaction information — currently processes transactions in a similar way to Bitcoin. However, massive development efforts are underway on Ethereum 2.0, also known as “Serenity,” to produce a new type of blockchain capable of greater scale. The need for scalability is key as the number of transactions, and subsequent gas prices, continue to rise on the platform.

This summer, Ethereum ratings have been in decline. Its FCAS (Fundamental Crypto Asset Score) slid 2.43% over the last two months, driven by a 50-point (-5.27%) drop in User Activity. Developer Behavior also fell 1-point (-0.1%), and Market Maturity slipped 18-points (-2.27%). Price is down 41.41% over the same time period.

From a high-level, Ethereum’s slump in User Activity is potentially tied to several trends impacted by scalability concerns. First, existing projects building on top of Ethereum are either launching their own types of blockchains or moving to other platform competitors with better scale and cheaper fees. Second, new projects are simply choosing to build elsewhere, and third, users are engaging with Ethereum’s decentralized applications at a diminishing rate.

Additionally, increasing competition for transaction processing and the high fees associated with these volumes have been a deterrent to adoption by large businesses, said Ethereum’s founder, Vitalik Buterin, recently.

Still, Ethereum’s overall User Activity rating is still very strong, ranking 11th overall.

Our Hot Take

Ethereum has a major head-start in what has been dubbed the “Platform Wars,” where a number of emerging blockchain platforms are vying for supremacy and mass adoption in the industry. These new platforms have benefited from watching Ethereum take the early lead, creating offerings that focus on delivering both greater scalability and a higher level of compatibility with competitor assets and functionality.

While the Ethereum team’s planned move to Ethereum 2.0 is ambitious, a number of projects in the industry are already working concurrently to solve its scalability issues. These projects are known as “Layer 2” solutions and come in a variety of forms.

In all, Buterin and team are highly capable of keeping the Ethereum ship on course to Serenity. The headwinds of scalability and declining use are surmountable challenges as the industry becomes increasingly focused on delivering real use cases through the applications it fosters.

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Crypto’s civil discussion of the century

Well, brace yourself for what promises to be the Civil Discussion of the Century: Ethereum co-founders Vitalik Buterin and Joseph Lubin square off for …

Perhaps you’ve attended one of the various, crypto-related “Debates of the Century” during the past year, pitting New York University’s Nouriel Roubini, a crypto skeptic, against a variety of pro-crypto grandees? Well, brace yourself for what promises to be the Civil Discussion of the Century: Ethereum co-founders Vitalik Buterin and Joseph Lubin square off for a pleasant chat at the upcoming Ethereal Summit in Tel Aviv on September 15.

Buterin and Lubin will be joined by Yoni Assia, Founder & CEO of the social-media crypto trading platform, eToro, during the final session of the day.

The day-long conference kicks off with an AMA with Buterin, on the long-awaited Ethereum upgrade, ETH2. According to a conference spokeswoman, Buterin said he’s game to discuss: privacy, collusion resistance, quadratic voting and quadratic funding, and the dapp ecosystem as well as a few project advancements in areas that might benefit the Ethereum ecosystem.

This is the first Ethereal conference to be held in Israel, and it coincides with Blockchain Week there.

Ethereal is an international conference series dedicated to decentralization and other promises of the Ethereum platform, and is sponsored by the Brooklyn-based incubator, ConsenSys, which also funds Decrypt. And if you’ve read this far: Here’s a code for $50 off: SP150DECRYPT

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“Ethereum Is A Technological Dead End” That Will Ultimately “Die”: Samson Mow, CSO Blockstream

Last week, Vitalik Buterin, the co-founder of Ethereum expressed his concerns about Ethereum’s scalability saying this issue could lead to increased …
“Ethereum Is A Technological Dead End” That Will Ultimately “Die”_ Samson Mow, CSO Blockstream

Last week, Vitalik Buterin, the co-founder of Ethereum expressed his concerns about Ethereum’s scalability saying this issue could lead to increased transaction fees and therefore discourage corporate clients. The scalability issue only seems to be escalating as per data from Etherscan.io which shows that Ethereum network utilization has reached the critical 90% mark.

This revelation prompted Samson Mow, CSO of Blockstream to lambast Ethereum blockchain, referring to it as a “technological dead end”.

Ethereum Is A Technological Dead End – Mow

It is patently clear Mow has been an ardent critic of the Ethereum blockchain. In the past, he has referred to ethereum as a “science fair project” with minimal use cases and he has also said ethereum is “centralized AF”. The Blockstream CSO is now referring to ethereum as a “technological dead-end” due to its almost full network. Mow goes ahead to say that with continued use, Ethereum is doomed to inevitably die. He asserted:

“Ethereum is a technological dead end. The more it’s used, the faster it dies. Fortunately, USDT is also available on the #LiquidNetwork which is more scalable and later will allow Lightning Networks to be created for assets like Tether.”

Buterin responded to Mow stating that other blockchains like bitcoin are facing scalability issues as well, not just Ethereum. He explained:

“You do realize that Bitcoin is also “almost full” in exactly the same way ethereum is, right?”

Liquid Network, according to Buterin is a centralized system. He criticized Liquid Network by making a reference to Tim Swanson, head of market intelligence at Clearmatics. Clearmatics is a blockchain fintech company that has close ties with Ethereum Foundation and has been working on developing scalability solutions since its inception in 2015.

“I’m sure @ofnumbers will be glad to hear about your support of permissioned consortium chains!”

Despite Mow being a firm critic of ethereum, a recent draft sent to SEC shows he has invested in an ethereum token, ERC20 proposed by INX Limited. This has since sparked off harsh criticism from the community with some referring to Mow as a hypocrite.

The Culprit: Controversial Stablecoin Tether

According to a report published by Bloomberg, the jamming of the ethereum network is due to the US dollar-pegged stablecoin, Tether. In 2017, the cause of ethereum’s capacity congestion was attributed to an application developed on top of ethereum’s blockchain, CryptoKitties. At present, however, Tether is exerting 17.5 times more pressure on ethereum blockchain than CryptoKitties did back then.

Notably, close to 40% of all the Tether in circulation runs on the ethereum blockchain. Due to this clogging, Tether parted with $260,000 in the past month as fees for miners verifying transactions on Ethereum’s ledger, as per data by Ethgasstation data researcher.

ETH 2.0, The Panacea For Ethereum’s Scalability Woes – Or Not

Ethereum network is focused on ETH 2.0 (Serenity) upgrade which, for all intents and purposes, will fix Ethereum’s persistent scalability issue. This ambitious update is slated for some time in 2020 and will introduce a proof-of-stake consensus mechanism and sharding as scalability solutions.

Be that as it may, some developers have no trust on this upcoming upgrade being a full-proof solution to ethereum’s scaling drawback. Case in point, Jeff Dorman, chief investment officer at Arca, a cryptocurrency asset manager based in Los Angeles. Dorman told Bloomberg that this ethereum upgrade is “not a guarantee” and therefore wise to keep off any development operations on the network until the upgrade is fully implemented and proves successful:

“So the biggest implication today is simply that developers may be incentivized to wait until this transition happens before fully committing to building on ethereum. Tether isn’t helping.”

The ETH 2.0 update expected in the near-future is designed to fix the scalability issue currently experienced by the network. If it does not fix this issue as planned, a good number of developers and customers could flee the blockchain.

What’s Your Thought On This?, Let Us Know In the Comment Section Below.


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