Do you care about winning the hearts and minds
of the people of the crypto community? F*** no. F*** no. 99,999 and a few more nines percent certain
that I will be taking control of my BTC and whatever else. Will I cause BTC a whole lot
of problems? Yes, but I’ll do that in many different ways. Welcome, everyone. Today, I’m going to be
talking to one of the most controversial figures in cryptocurrency. He claims to have invented Bitcoin, that he
is Satoshi Nakamoto himself. This is Dr. Craig Wright. Hi, how you doing, Dr. Craig Wright? I’m doing very well, thank you, yourself? Good, thanks for coming on. So my first question
is, last week, BitcoinSV, as you probably know, had a big spike in price and then fell
off significantly after that. What is your thoughts on this recent price action and how
relevant do you think price action is to the success of BitcoinSV? Absolutely zero. People who sit there speculating
on an asset they have no idea about are absolute idiots. This entire crypto market is basically
a regurgitation of every stupid thing that’s happened.
So your lawyer told Decrypts recently that you don’t possess or claim to possess the
private keys to the $8 billion Satoshi fund. How come you don’t have these keys? As I said, there’s a staged process. So what
people don’t seem to understand is the other bit is I don’t own the keys. A trust does. So sorry. Back when Bitcoin was not worth anything at
all, I set up a trust. I did that for asset protection reasons. That trust is a legally
registered entity with a government with a little stamp and all the rest. And like it
or not, lawyers and other wealth protection asset sort of specialists help set all these
things up. And I’m not a trustee. Why are you not a trustee? Because I’m smart enough not to be. Because
then people could force me to actually move coins. You’ve got this whole, you could take things
from trustees, if it was mine then people could have seized assets from me. Remember,
I had a whole lot of, I had a stash in the past with the Tax Office of Australia that
wanted to take a lot of money from me. I had other people wanted to take money from me.
I had lots of greedy people in the past, wanted to take money of off me. So how do you stop
that? You set up a trust. You don’t make yourself a trustee. You find people you trust to be
trustees. Hence the word trustee. You set up rules. You don’t make it discretionary
so that people can spend whatever the hell they want. You say this is how the money is
going to be used and you make it very specific. And like it or not, my money is not for me
to buy yachts. I set it all up to actually put back into building the ecosystem I wanted
to build. Do you think you will ever receive these keys?
When do you think you will receive these keys? I don’t know. I won’t. The trust might. They’re
different things. So, again, I’m not a trustee. So first, the trust has received the keys
and then they can give them to you. Is that the process? They don’t give them to me. It’s a trust.
It’s like a company. I didn’t set it up so that they could give them to me. Do you still expect to see the keys at a later
date? Are you expecting them at all? I’m hoping so. Will I cause BTC a whole lot
of problems? Yes, but I’ll do that in many different ways. So you don’t know for sure. I am 99,9999 and a few more nines percent
certain that I will be taking control of my BTC and whatever else. I don’t think people
realized that I have proof of my assets because I filed a claim with the Tax Office listing
everything. I actually did what is called a binding private ruling. I went to the tax
office and I actually, when no one knew what the hell Bitcoin was, said, I’ve got this
asset and this is how I want to approach it. And I paid 3.2 million in tax. And moved everything
overseas. And I did it legally with accountants and really expensive lawyers and paid the
tax due at the time and set it up and structured it. So you know what that’s actually called
evidence. All right. So how come you decided to commit
to being Satoshi Nakamoto? What do you stand to gain? Because it seems like this has been
a pretty painful process so far or at least drawn out process. Teaching people how law actually works and
that Bitcoin is not anonymous outside of the law. So what you’re saying is that you’re using
this claim to the identity as a way to educate people on the… No, I’m not using a claim
to the identity. I am the identity. But you’re using it as a way to educate people?
Not as a way to educate people. That is the truth. And it’s not something I wanted to come out
with before because people had hijacked my protocol. Starting in June 2010, we had the
advent of a heroine stall being the first thing promoted on Bitcoin. Interestingly enough,
I’d already been looking at trying to commercialize things on Bitcoin, but that killed it. I was
actually looking at the creation of a peer overlay network for a number of entities,
one of which ran them, most of which I just couldn’t get past the idea of peer to peer
networks when trying to sell commercially to listed companies. They heard the word peer
to peer and that scared them because of Godzilla, Limewire, eDonkey, everything else. Okay, it’s just not, it’s not exactly clear
to me why, why you have just, what your justification is for enduring this whole process? I didn’t choose the justification. I didn’t
choose in 2015 to release a whole lot of files that people tried to make me look like a scammer
and whatever else. I didn’t choose to come out and do anything. But when I tried not
to talk to the media, you guys tried to track down my family and tried to follow up with
everything. When I tried to just sit there and patent
and write files in the background, you guys tracked me down. When I wouldn’t talk about
whether I’m Satoshi or not, everyone kept coming out there and attacking me. So if you want the truth, then it gets to
a point where whether you like it or not, I’m going to give it to you. Okay, thank you. So do you care about winning
the hearts and minds of the people of the cryptocommunity? F*** no. F*** no. Did someone sit there and
go: I’m going to have a TCP community and we’re all going to get together and circle
jerk around TCP. It’s a protocol. It’s plumbing. You don’t need to like it. You don’t need
to care. You don’t need to like me. It’s technology. You don’t sit there and go: wow, I’m going
to look at how wiring is done in my house. And we’re going to have a wiring community
and we’re going to debate which particular color red we’re going to use on a red wire. I mean, sorry. Don’t care. Mm hmm. So why do you care so much when people
question your identity as Satoshi Nakamoto? I didn’t. You didn’t? No, I didn’t, actually, I wasn’t
bringing up the fact that I was at all. So when everyone started the whole FakeToshi
and scam bit and whatever else. I was not answering the question at all. I was not addressing
it at all. I was not sitting there going, hey, I’m Satoshi, follow me. Rather the other
way around, everyone else saw me as a threat and started attacking me. So here’s the thing.
You pushed me so far. And, well, I don’t run. You don’t run? No. I fight and I fight and
I fight. And then you knock me down and I get up and
I fight and you knock me down. And then I kneecap you and then you maybe knocked me
down. And then I take out your Achilles and gradually attack the corners. And if I have
to stab you a billion times before you f%#&ing fall over, I win. I win or I die trying. I always loved Andrew
Carnegie. Andrew Carnegie, self-made, started from nothing, started as a steelworker. Wesleyan.
Has much of the same philosophy as I do. I’ve followed what he believes and a large part
of that and his idea of how you ensure you get to be where you are is you put yourself
so that you can’t fail. You don’t allow yourself to have an option. You basically sit there and you create a scenario
where it’s going to be nothing, but you winning. You don’t give yourself an out. You don’t
sit there going: well, I’ll try again. You don’t. You win. The end. So to you, is this about winning? Yes, because what we have is we have my original
vision for Bitcoin and a bunch of criminals. That simple, and I don’t like criminals, sorry. Now I’d like to hear what is your vision for
blockchain and cryptocurrencies throughout the next decade? How is it going to impact
the economy and just our everyday lives? Okay. So as I said, it’s plumbing. I want
to recreate the Internet so that we don’t have the sh%t show of Twitter and Google and
everything like that. Now, the whole problem that the Internet had, that was attempted
to be solved even by Google in the past, was how do we have micropayments? Once you can
actually do that, you can have models that aren’t reliant on ads, aren’t reliant on tracking
your information that allow people to have privacy, that allow people not to have their
entire lives captured by a bunch of oligarchical companies. And that becomes really critical.
So I want to see something that has an audit trail. Bitcoin has an audit trail forever
for a reason. It’s pseudonymous, which means private, not anonymous. You can embed information
such as the identity of parties into keys and hierarchies. So that’s doable. But what
you now have is a means of tracing corruption the old fashioned way, not like the NSA do
right now, where they look at metadata and trace that sort of stuff, but rather where
they actually put together a proper evidence trail using human intelligence and follow
things back, because now they have a trail that they can go from one person to another.
They can make deals the way policing used to be before we got lazy and thought everything
just comes to metadata. You know, in a blog post you made in May of
last year, you said: through Bitcoin, I see a world where various systems compete. I see
the individual, the local, the state and the government all competing globally. Do you
see Bitcoin as the ultimate form of capitalism? Yes. But that also is something that people
don’t understand. My idea of capitalism is more a nuanced view of what Adam Smith would
say. Updated, of course, because he had a lot of ideas that were incorrect. I mean,
200 years of research gives you a lot more information. But Adam Smith was also someone
who wrote about morality. Now, Adam Smith’s idea of morality wasn’t this fair idea of
get rid of all government and leave people to suffer on their own. Adam Smith basically
wrote about the need to regulate markets, to protect things that have ways of ensuring
that people are safe. So we need all of that. We can’t actually have this idea like a total
no government anarchist society. You have that right now. If you want to go to Sierra
Leone, you want to go to the Belgian Congo or whatever they want to call it this week.
There are places in the Western Sahara, all of these have no governments right now. So
you have that. You can choose no government. And guess what you have? You have anarchy.
There’s a reason anarchy is not considered a good word, because whenever you have anarchy,
you have murder. Without fail and everyone says, oh, it’s not truly anarchist. What the
hell is truly anarchist? Where is this so-called society, there are 1200 experiments in anarchy
in the U.S. alone. Every one of them ended in murder. Without exception, there is not
a single case of an anarchist society not ending in murder. Ever. So one of the things I’ve noticed is that
you seem to start a lot of your answers to questions in interviews with some version
of: “people don’t seem to understand that blah, blah, blah”. “What people fail to understand
is”, “what people don’t realize”, “What people also don’t understand is”. How come you feel
that so many people don’t understand things the way that you understand them? Well, let’s see, none of them bother to actually
read up anything on the topic. The so-called experts in blockchain. I don’t think I’ve
ever read any of the references I put in there. We’re talking 11 years now and no one has
realized the blockchain as a concept. A string of hashes concatenated with a binary tree
or merkle tree was invented in 1994. It’s published. The time chain concept or
round chain or whatever they wanted to call it back then. So the terms have changed a
little bit and the use is a little bit different. But Antonopoulos in his deposition utterly
screwed up in saying that Bitcoin’s the first peer-to-peer cryptocurrency. Wrong. There
are multiples, including pPay, Revest of the RSA fame. Did one in 1992. Distributed cryptocurrency.
Again – wrong. There’s Mnet Mojo. There’s the reputation distribution system in eDonkey,
eMule. So I mean and when he was asked about it, he basically said, oh well I had no involvement
with any of this before. So effectively you’ve taken the bullsh#t that people have heard. You’ve regurgitated it and you’ve done no
research because well, I guess you say this and coin goes up. It’s called lazy a%#holes
wanting to make money doing nothing. So what sets you apart? I work. You work? I’ve got 1540 whitepapers now from nChain.
When everything goes through and the updates happen this month, I should hopefully hit
1000 patents filed. I spend, let’s say I’m doing two doctoral
degree simultaneously while I’m working. I work 60 to 80 hours every single week in
my work. Then I study the two degrees. I’ve done up to four degrees simultaneously
while working. I run multiple companies, so, yes, I work. How do you find time to do all this? Luckily, I have a wife and family who understand
me well enough to put up with the fact that I’m a workaholic. So you claim that BitcoinSV is the real Bitcoin,
yet the original Bitcoin is still the most dominant and widely known. All right, what original Bitcoin? There’s
no original Bitcoin. Bitcoin Core. There’s no SegWit. You’ve got this era and people
keep forgetting that the ticker symbol changes when the thing changes. That was set as a
precedent by Vitalik with Ethereum. Ethereum Classic is the original Ethereum,
yet it is ETC. ETH is, basically, the fork, so the fork that he changed Ethereum into
kept the original ticker symbol. So this is whole bait and switch thing where a bunch
of guys scamming investors keep the ticker symbol, avoiding demutualisation and dematerialization
law the way it is in securities. And these are securities because when we’re talking
about exchanges, it’s not the actual underlying asset. It’s the promise to pay. And we’re
going to start seeing that. I’ve got regulators starting to understand the fact that when
you’re on an exchange, you have a security. So crackdown starting to happen any time.
Now, the same with BTC. BTC changed my protocol. You cannot run a version 3 node and have it
synchronize or even have SPV from version 3 and have it run. So no, changed. And not
minorly – majorly. SegWit is not compatible. The underlying aspects of SegWit where they
sit there going: oh, it’s actually backward compatible. What a load of f%#&ing bull%#t.
They’ve got all these changed up codes like CLTV and whatever else that they’ve added.
They’ve changed the way that in sequence and in lock time works, they have radically screwed
with the protocol without having any idea what they’re doing with an attempt just to
try and make something that is more anonymous because they think they can get away with
Lightning losing records and that law enforcement around the world are going to keep turning
a blind eye as it gets bigger. These guys are f%$&ing morons. So, let me reformulate that question then.
So you claim that BitcoinSV is the original Bitcoin, the real Bitcoin, the real Bitcoin.
But yet the Bitcoin that we know now is the most widely known and dominant crypto? No, sorry. There is no bitcoin that you know
now. There is the way I made it. And there’s this whole scam of calling BTC Bitcoin. You
alter the protocol that I said was set in stone and you go: oh, it’s the community,
get to decide. F%&k off. Community don’t get to sit there and go: TCP should have a different
packet size. How community changes the way IP processes data packets? Sorry, that work
that way. It’s a protocol, it’s set. Get over it. Okay. So what series of events or event would
need to happen in order for BitcoinSV to succeed or replace Bitcoin BTC? We’re already doing it. The end. You can sit there and gamble, coin
will keep going up in massive giant Ponzi that will work forever. And if you’re that stupid, enjoy being broke.
Very simple. I mean, honestly. What, four transactions a second, whoop de
f%#@ing doo dah. You realize in economics you’ve got this thing called substitute goods
and that applies to transactions too. Now, if your transaction costs you $40, $50, whatever
else, no one’s going to use it. Now, the argument like a whole lot of them run around going,
oh, but it’s free. We can fund terrorism, we can fund child porn. And Antonopoulos actually
underoath has just said that Bitcoin is wonderful for funding child pornography. His deposition will come out and he said that,
so… Guess what? That’s a death sentence for your
thing. Liberty Reserve was bigger than Bitcoin. Liberty Reserve had more nodes than Bitcoin. This idea. Oh, it’s centralized. What a load
of crap. People can’t even tell me what that word means.
Why it matters. What does decentralized mean to you? Decentralized is actually a term in computer
science, which relates to robustness. So we’re not talking about political decentralization.
And if you’re looking at political decentralization, then China’s actually one of the most politically
centralized places on earth. Everyone looks at going, oh, see, is actually the leader
and whatever else. But by the time it filters down to the individual locations and it goes
through provincial down to individual local areas, the control of the Communist Party
is over 50,000 people. Now, the reality of decentralization is you
have nodes able to join, rejoin and not have loss. So in number two, the idea of a timestamp
server going back to the core of Bitcoin. The reason this fails, if you look at something
like DigiNota, if you have a single entity, sign something and fail. Everything that they’ve ever touched fails.
The timestamps and the certificates signed by DigiNota, a certificate authority that
was hacked, including Microsoft and Google certificates years ago, allowing Iran and
others, including North Korea, to issue malware as if it was digitally signed by Google or
even Microsoft. Well, everything at all times is compromised.
Now, if you have a group of even 10 different commercial entities. More better, and you
have to hack all of those simultaneously and not be detected. It’s nearly impossible. That’s what Bitcoin
is really about. Okay. And so I’ve just got one last question
for you. Do you think it would have been better if Satoshi’s identity had remained a mystery? For me, for my family, yes. What about for the good of the crypto community? F%#k the crypto community. I mean, what are we talking about with the
crypto community? You mean people actually building things? They don’t care. You mean
the traders or the scammers and the speculators, the people who pump coins and go, coin go
up, everything… Look, magic. I’ve got a fricking yacht now. You too could own your
own Lambo without having to work hard, because, well, coin go up. F#%k them. What about for Bitcoin? I’m still working
on Bitcoin. I haven’t stopped working on Bitcoin. And if you think Bitcoin is going to be valuable
because I’m Satoshi, not because of what I do, you’re a f$#&ing idiot. Sorry, Bitcoin will be valuable because… Well, all those things that IBM would love
to solve. The things to do with making HyperLedger actually a working thing rather than the piece
of sh#t it is, I’d been patenting. So if HyperLedger gets to be successful, nChain makes money,
nChain makes money – I put it back in Bitcoin. So, banks and IBM are going to eventually
either come over to Bitcoin or pay us money and we’ll build Bitcoin. Thank you, everyone, for watching. That was
Dr. Craig Wright. He claims to be the inventor of Bitcoin. And, guys, always remember to
like, subscribe and hodl.

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