Bitcoiner accumulates R$3 million in debt due to counterfeit lawsuits

Charlie Taylor

Peter McCormack. Playback/Twitter.Coingoback" srcset=" 700w, uploads/2022/06/Banner-Coingoback-700x150-1-300x64.jpg 300w, 150w, 585w" data-sizes="(max-width: 700px) 100vw, 700px " width="700" height="150" style="display: inline-block;“Our legal system is broken,” said the former Bitcoin developer Peter Todd.Craig Wright, known as Faketoshi (fake Satoshi) once, threatened “fail” and “destroy the life” of Bitcoin developers. And unfortunately, it's one of his only promises he seems to be taking seriously. But he hasn't stopped with the developers, the creator of altcoin BSV is using state coercion to harm several members of the community, including the podcaster. Peter McCormack.According to the creator of What Bitcoin Did, one of the biggest Bitcoin podcasts in the world, he is being sued by Craig Wright and could end up losing his home for it.

Want to earn Bitcoins?
We help you with this.
Open a free account!

McCormack said it all started because he publicly defended Hodlonaut on Twitter. “Just so you know, I have a debt of £500,000 to my lawyers and I had to sign my house.”, said he in a recent tweet. “Lawyers are expensive and it's been going on for years.” Peter explained about the amount of debt. The emblematic case of Hodlonaut it happened in 2019, when Faketoshi tried to intimidate a profile of an astronaut kitten discussing bitcoin on Twitter. In a now-deleted publication, Hodlonaut called Wright a "pathetic scammer." At the time, numerous profiles changed their profile picture to honor and side with the anonymous bitcoiner kitten. And Craig don't need to win his lawsuits to harm the defendants, and this may explain his supposed kink by the state legal system. Like Peter Todd explained, “There's a very good chance Craig won't pay after the court orders him to pay the costs. He's already doing it elsewhere, I hear. Our legal system is broken like that.” Todd would know what he's talking about, the former Bitcoin Core developer suffered with a false harassment charge and lost $120,000 in filing a libel suit against the plaintiff. “I was very lucky to have the cost covered after the fact through private bitcoiner donations; I had zero expectation of getting any significant amount of money from Lovecruft. It's easy for them to protect their assets. And on top of that, in my process, the more I earned, the less they were able to remain employed and thus pay severance…”This is a very real problem for the healthy development of the bitcoin community. It is also worth remembering your attempts to censor the bitcoin white paper, when you requested the removal of and Just to avoid these problems where developers waste time and money, the most important bitcoin document has been removed from In support, Square, Novi, Bitcoin Magazine, and other companies have now hosted the full white paper on their websites as well. While McCormack expects to win and receive compensation for his litigation costs, his house is at stake and he may have to sell his bitcoins if Faketoshi fails to meet its obligations after a possible court defeat. It's colossal the negative impact a person can make on the justice system even if he's not right. As early as 2019, developer James Lopp put together a gigantic list of Wright's frauds, lies and broken promises, read in English in the article “How many wrongs make a Wright?”. But we must remember that Wikileaks unmasked the fake creator of Bitcoin first.Read more:

Click to rate this post!
[Total: 0 Average: 0]
Next Post

Bitcoin reaches historical level of “oversold”, bullish signal?

To see if bitcoin has corrected enough, Willy Woo, creator of the on-chain analysis feature Woobull, analyzed the NVT signal. the high pace of the beginning of the week. Its price is now $37,234. Due to recent declines, bitcoin has reached a historic level of oversold, as Willy Woo explains. […]

Subscribe US Now