Bitcoin ‘creator’ backs out of Satoshi coin move ‘proof’

By May 5, 2016Bitcoin Business

Image caption Dr Wright said he did not "have the courage" to prove he is Satoshi Nakamoto The Australian entrepreneur who has claimed to be the inventor of Bitcoin has reneged on a promise to present new "proof" to support his case.

Craig Wright had pledged to move some of the virtual currency from one of its early address blocks, an act many believe can only be done by the tech’s creator.

This would have addressed complaints that earlier evidence he had published online was misleading.

Dr Wright said that he was "sorry".

"I believed that I could put years of anonymity and hiding behind me," he blogged .

"But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot.

"When the rumours began, my qualifications and character were attacked. When those allegations were proven false, new allegations have already begun. I know now that I am not strong enough for this."

Dr Wright’s claims were first reported by the BBC, the Economist and GQ magazine on Monday. ‘Extraordinary proof’ Dr Wright had earlier indicated that he would transfer some bitcoins from "block 9" by using a private key thought to be known only to Satoshi Nakamoto, a pseudonym used by the person or team that designed the crypto-currency.Satoshi is known to have used the address in 2009 to send coins to a computer scientist.Dr Wright had promised the "extraordinary proof" in light of a growing backlash against one of his blogs.On Monday, he had posted what seemed to be evidence that he had Satoshi’s key by describing a process that led to the creation of a "digital signature".But soon after, this was attacked by security researchers who linked the signature to an earlier Satoshi Bitcoin […]

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