The lawsuit against the Australian, who says he invented bitcoin, has the world of encryption stuck

Cryptocurrency enthusiasts may be disappointed if they expect a three-week trial in Miami’s federal court to finally establish the true identity of Satoshi Nakamoto, the pseudonymous creator of bitcoin. But curious seekers will nonetheless be attracted to watching Australian computer scientist Craig Wright, the self-described inventor of bitcoin, defend himself against allegations that he swindled the estate of a deceased Florida man with his share of about $ 65 billion (86 , $ 4 billion) of the peer-to-peer currency and intellectual property related to blockchain technology worth billions of dollars more.

Dave Kleiman’s brother, who died in 2013, claims that the late computer scientist collaborated with Wright on the early development of bitcoin, and that the estate is entitled to half the value of a cache of 1.1 million bitcoins, valued to $ US62,545 each. October 29, is believed to be in the possession of Satoshi. Whether it saves can still be recovered is in no way guaranteed.

Craig Wright claims to have invented Bitcoin.

Craig Wright claims to have invented Bitcoin. Credit:BBC news

Some prominent cryptocurrency entrepreneurs and investors view Wright as a forger and believe that Satoshi’s persistent anonymity is part of the genius of bitcoin – a competitive advantage for an innovation that has aroused scrutiny and anger from countless governments. Wright has stood by his claim, even suing critics who have called him a fraud.

But the Kleiman case is not primarily about whether Wright really is Satoshi. The question in the trial, which begins Monday (U.S. time) with jury selection, is whether there was a business partnership between Wright and Kleiman before the latter’s death.

Wright is certainly “an important early innovator in cryptocurrency and is also rich in cryptocurrency,” said Aaron Brown, a crypto investor who also writes for Bloomberg Opinion. “Beyond that, his claims to be the most important or sole author of the original bitcoin white paper have little support.”

Despite the skepticism, crypto fans will follow the trial for any clues. Satoshi speculation is a favorite hobby of the crypto community, and last month even venture capitalist Peter Thiel joined in, speculating that the real Satoshi was on the same beach as him in Anguilla in February 2000. Whoever Satoshi is, he or she has probably access to enough bitcoin to dramatically impact the market.

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The Kleiman property lawsuit against Wright was first filed nearly three years ago, but the case has been delayed due to the COVID-19 pandemic.

Emails in court records show the men had a sympathetic relationship – in a message Wright called Kleiman his “best friend” – but Kleiman’s brother, Ira, will try to prove they had a business partnership.

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