Peter McCormack trial goes to court — is Craig Wright Satoshi Nakamoto or not?

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Yerevan (CoinChapter.com) – The Peter McCormack trial made headlines this week as Dr. Wright blamed the blogger for severely damaging his credibility. However, before proceeding with the recent events, it is essential to give background information on the participants and the source of the dispute.

What is the Peter McCormack trial all about?

Dr. Craig Wright is an Australian computer scientist and a businessman that has publicly claimed to be Satoshi Nakamoto. In detail, Satoshi is the pseudonym adopted by the creator of Bitcoin in 2009. Despite the many speculations, the person or team behind the pseudonym remains anonymous.

Also read: Self-styled Bitcoin inventor Craig Wright wins $50B in BTC dispute: BSV pumps 40%

On the other side of the stand is Peter McCormack, a blogger and the creator of the “What Bitcoin Did” podcast. In a nutshell, McCormack has addressed Dr. Wright in a series of tweets and called him out for being a “fraud.” After the said instances, Dr. Wright sued the blogger for defamation in 2021.

As the trial involved the mysterious Satoshi Nakamoto, it drew massive attention from the crypto community. Then, various Twitter reporters keep their fingers on the pulse and chip in with the latest developments.

Also read: American Journalist Claims Bitcoin Creator Sold Missile Tech to Iran

Dr. Wright’s legal team stated the following:

This is a libel claim of tweets to 5500 followers in this jurisdiction and words he spoke on a podcast with HoTep Jesus. Although McCormack deleted the analytics, using comparisons it’s estimated that impressions for each tweet is between low hundreds to high tens of thousands.

tweeted the reporter.

What are the possible outcomes?

McCormack’s defense team does not deny the defamatory nature of his tweets and will not try to prove his statements were true. That would be a losing strategy in the legal setting and cost millions. So instead, the lawyer tried to prove that McCormack’s tweets did no real damage to Dr. Wright’s career.

The blogger commented that he had already lost substantial money and did not intend to take the route of proving his statements.

The costs of lawsuits such as this are astronomical, well beyond the means of an ordinary person, even those relatively successful. The costs bring insane pressure. I estimate mine is over £1m so far and I still owe money. Of that £1m I have paid over half and if I lose then I face much higher costs.

commented McCormack.

Also read: Bitcoin week ahead Ep22: Dollar's bullish return could put BTC en route to $25-26K next.

Additionally, he posted a thank-you tweet and asserted that he will “now await for the judgment, which could take several weeks.” Thus, to get answers, the community would have to wait until the Peter McCormack trial is resolved.

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