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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

How COPA’s lawsuit against Craig Wright could benefit Bitcoin

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Bitcoin BTC

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At the end of January 2021, Craig Wright filed a cease and desist against Square, Inc. claiming to be the author and have the copyrights of Bitcoin’s Whitepaper. Wright demanded the document be removed from the payment company and other websites, including Bitcoin.org.

Square is a member of the Crypto Open Patent Alliance (COPA). Therefore, the corporation made a response in the representation of its members and in its own behalf. In addition, COPA asks Wright for further information to prove his claims.

Now, per a document introduced in the High Court of Justice in the United Kingdom, COPA has filed a lawsuit demanding the legal entity to declare Wright has no ownership over Bitcoin’s White Paper. COPA said the following via its Twitter handle:

We stand in support of the Bitcoin developer community and the many others who’ve been threatened for hosting the White Paper.

Anonymous Bitcoin developer known as “Cobra” has been unspoked about his opinions towards Wright. When the initial lawsuit was filed, Cobra claimed there was an ongoing attack against Bitcoin and rejected Wright’s statement saying he is Satoshi Nakamoto. On COPA’s initiative, Cobra said:

I don’t know what’s more noble than defending the whitepaper that started it all. Really great news. The Bitcoin community will never surrender to liars who abuse Satoshi’s absence to fraudulently claim credit for his or her work(s).

Wright’s action impact on Bitcoin and Bitcoin SV

Cobra has been sounding the alarm on the implications of Wright’s lawsuits and “harassments” on Bitcoin’s developers. Saying this action cannot be “understate” due to the experience and knowledge these individuals have been collecting for more than a decade. Cobra said:

Dangerous bugs in Bitcoin Core are more likely to slip through, without experienced eyes on the code. It may become even harder to acquire new talent: Contributing to an open-source project is already thankless enough, who wants to deal with the risk of lawsuits on top of that?

COPA’s response to Wright might serve as a deterrent for further lawsuits. The corporation seeks to create a “world where people can use” Bitcoin and cryptocurrencies without legal impediments.

Amongst is the company led by Jack Dorsey, exchanges OKCoin, Kraken, development group Chaincode Labs, MicroStrategy, and others.

Bitcoin is trading at $59.984 and has been moving sideways in the past 24 hours. In the 7-day chart, BTC has a 3% profit and a 4.6% in the last 30 days.

Bitcoin BTC BTCUSD
BTC moving sideways in the 24-hour chart. Source: BTCUSD Tradingview

On the other hand, Bitcoin’s fork BSV trades at $258 with a 4.3% loss in the 24-hour chart. As Cobra said, the cryptocurrency seems to be in a downtrend since January 21, when Wright started making legal threats.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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