Craig Wright’s Ramblings: Everyone Using Bitcoin And The Lightning Network Are Thieves, Binance Is A Criminal Cartel, Bitcoin Is Breaking The Law And Will Be Sued

April 3, 2020 / by Zachary Mashiach

Craig Wright runs his own blog which is filled with anti crypto space ramblings. Right off the bat, the tagline for the blog is “Bitcoin SV is the original Bitcoin”, which is a solid sign that everything else in the blog will be madness. This article explores several of Craig Wright’s more unhinged blog posts.

Binance Is A Criminal Cartel According To Wright

One of the craziest posts is about how Binance is a criminal cartel and will be taken down like the Silk Road. Apparently, in order to prove this Wright set up 100 Binance accounts in a single day, and then laundered $20,000 per day per account with Binance via washing it through various cryptocurrencies.

Basically, Wright exploited Binance’s 24 hour grace period after signing up, during which time users can withdraw 2 Bitcoins (BTC). Wright used completely fake names and addresses.

Based on this experiment, Wright says Binance is just like Liberty Reserve, and that Binance is a money laundering syndicate and a supporter of crime. Wright then says that Binance will one day be raided.

Of course, Wright ignores that Binance is a fundamental centerpiece of the crypto space, since it is one of the biggest spot exchanges and largely facilitates legitimate trading activity, in addition to releasing revolutionary crypto trading and investment products on a regular basis.

In actuality, it seems all this post proves is that Wright hates Binance.

Bitcoin Is Using Wright’s Database Without Permission, And Wright Will Sue

One of Wright’s most mind numbing posts is essentially about how Wright is going to sue Bitcoin (BTC) and Bitcoin Cash (BCH) for changing the underlying protocol.

Essentially, Wright says that under the MIT license Bitcoin (BTC) was created with, people are allowed to fork the protocol, but they are not allowed to change the underlying protocol and claim that it is the original. Wright says the underlying protocol and registry of Bitcoin (BTC) is his intellectual property.

Wright goes on to specifically mention that Bitcoin (BTC) has violated the Database Regulations law of 1997 and the Computer Misuse Act of 1990. Also, Wright says SegWit is the breaking point where Bitcoin (BTC) began to break the law.

Apparently Wright did not get the memo, despite claiming to be Satoshi, that Bitcoin (BTC) is decentralized and cannot be sued out of existence. In general, his article about this is filled with hate, rage, and veiled threats, but does not seem to hold any water, since Bitcoin (BTC) cannot be sued.

All Bitcoin And Lightning Users Are Thieves

The next blog post from Wright is a real legal reach. Wright essentially says that if a Bitcoin (BTC) is stolen, then it is considered stolen property even if it is transacted 1,000 times after that.

Therefore, if Bitcoin (BTC) is stolen and ends up in the Lightning Network eventually, then everyone who passed it along within the Lightning Network is committing theft, and would be subject to a court order and criminal penalties.

Wright actually goes on to say that any Bitcoin (BTC) miners which take transaction fees from stolen Bitcoin (BTC) are committing criminal acts as well. By this logic, if anyone out there ended up receiving a Satoshi of a stolen Bitcoin (BTC), even if it was stolen years ago, they are a criminal.

In a nutshell, Wright is saying that everyone who uses Bitcoin (BTC) and the Lightning Network, including miners, are trafficking stolen goods.

There are many more crazy Craig Wright blog posts than the few covered in this article. It is not necessary to analyze them though, the general summary of any of Wright’s articles is that he hates the crypto space and really wishes he could destroy it, and then replace it with Bitcoin SV (BSV). Perhaps in some dystopian parallel universe this has already happened, but hopefully in this universe Wright loses his big lawsuit with the heirs of Dave Kleiman and becomes a harmless fugitive.

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