WEBVTT - The Aussie who claims he invented Bitcoin

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<v Speaker 1>My name is Lily Maddon and I'm a proud Arunda

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<v Speaker 1>Bungelung Caalcutin woman from Gadighl country. The Daily oz acknowledges

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<v Speaker 1>that this podcast is recorded on the lands of the

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<v Speaker 1>Gadighl people and pays respect to all Aboriginal and Torres

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<v Speaker 1>Strait Island and nations. We pay our respects to the

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<v Speaker 1>first peoples of these countries, both past and present.

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<v Speaker 2>Good morning and welcome to the Daily os. It's Friday,

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<v Speaker 2>the ninth of February.

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<v Speaker 3>I'm Zara, I'm Saram.

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<v Speaker 2>Bitcoin is absolutely everywhere right now. But who actually invented

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<v Speaker 2>the coin? Where did it come from? Well, it turns

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<v Speaker 2>out that we actually don't have the answer to that,

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<v Speaker 2>and there is an ongoing dispute as to who.

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<v Speaker 4>Invented the coin.

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<v Speaker 2>It's a dispute that has made its way all the

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<v Speaker 2>way up to the UK's High Court. An Australian man

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<v Speaker 2>says he founded the popular cryptocurrency in two thousand and eight,

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<v Speaker 2>but on.

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<v Speaker 4>The flip side, a group of tech have launched legal action.

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<v Speaker 2>Accusing him of forging his identity. We're going to explain

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<v Speaker 2>everything there is to know about the creation of bitcoin

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<v Speaker 2>in the deep.

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<v Speaker 4>Dive but first Sam that's making headlines.

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<v Speaker 3>Toyota drivers could be at risk of having their personal

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<v Speaker 3>information leaked, according to a new warning from consumer group Choice.

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<v Speaker 3>It said Toyota's Connected Services technology collects information such as

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<v Speaker 3>vehicle location, driving data, fuel levels, and even phone numbers

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<v Speaker 3>and email addresses. Choice founds that the service poses significant

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<v Speaker 3>risks to customers privacy and warns drivers data could be

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<v Speaker 3>shared with third parties without their permission.

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<v Speaker 2>The Climate Council says Australians are experiencing what it calls

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<v Speaker 2>climate whiplash from current wild swings between weather extremes. Its

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<v Speaker 2>latest report found almost every state has broken extreme weather

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<v Speaker 2>records this summer after recent floods, bushfires, heavy rainfall, humidity

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<v Speaker 2>and heat waves across the kind. The Climate Council said

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<v Speaker 2>these extremes were signs of a fast warming planet, adding

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<v Speaker 2>that coal, oil and gas burning were key contributors to

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<v Speaker 2>climate wereplash.

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<v Speaker 3>Pakistan has suspended mobile phone service across the country during

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<v Speaker 3>its national election. It's part of efforts by Pakistani authorities

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<v Speaker 3>to ease security concerns after dozens of people were killed

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<v Speaker 3>in two blasts on Wednesday. Terrorist group Islamic State have

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<v Speaker 3>claims responsibility for the bombing attack, and it follows recent

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<v Speaker 3>political unrest and violent protests in the country. Pakistan's Interior

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<v Speaker 3>Ministry said the suspension of phone coverage was temporary.

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<v Speaker 2>And the good news Ozzie diver Alisha Kloy has won

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<v Speaker 2>gold at the World Aquatic Championships in Doha. Twenty two

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<v Speaker 2>year old placed first in the women's one meter springboard.

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<v Speaker 2>Other OZSI metallists included Annamel Smith and Madison Keeney, who

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<v Speaker 2>won silver together in the women's three meter synchronized diving event. Sam,

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<v Speaker 2>do you know who invented bitcoin?

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<v Speaker 3>The two bitcoins to Lores? I know is that one

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<v Speaker 3>of the earliest transactions using bitcoin was buying a pizza.

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<v Speaker 4>Okay, but that's not answering my question.

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<v Speaker 3>Sorry, so. And the other one was that I think

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<v Speaker 3>it was someone called Santoshi.

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<v Speaker 4>Okay, do you know anything more than that that?

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<v Speaker 3>We don't know who Santoshi is.

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<v Speaker 4>So it's a pseudonym. Yes, Okay, you're right.

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<v Speaker 1>Cool.

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<v Speaker 4>Ten points for you.

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<v Speaker 3>Thank you.

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<v Speaker 2>I love that I was asking you that with the

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<v Speaker 2>full expectation that you wouldn't know the answer. I when

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<v Speaker 2>I was researching this story, was reflecting on this thing

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<v Speaker 2>that my friends and I do that sounds really lame

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<v Speaker 2>when I say it out loud, but it is actually

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<v Speaker 2>a really valuable exercise, which is that every few months,

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<v Speaker 2>and certainly last year, we got together to learn something new.

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<v Speaker 4>We realized that we all have heaps.

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<v Speaker 2>Of skills and understanding and knowledge in certain areas, and

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<v Speaker 2>that that's never transferred through like social groups. Anyway, I digress.

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<v Speaker 2>The reason I'm saying it was we did one on

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<v Speaker 2>crypto right, like a full deep dive on crypto, and

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<v Speaker 2>that was the first time that I heard the name

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<v Speaker 2>Satoshi Nakamoto, which I thought was the real name of

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<v Speaker 2>the person that created bitcoin, but it turns out is

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<v Speaker 2>a pseudonym. And we're talking about that today specifically because

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<v Speaker 2>the idea of who actually created bitcoin is in the

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<v Speaker 2>news at this moment in time.

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<v Speaker 3>So why do you give me a really quick tail

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<v Speaker 3>dr from that night with your friends and quickly explain

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<v Speaker 3>what bitcoin is before we jump into this story in

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<v Speaker 3>this current court case.

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<v Speaker 2>So Bitcoin became the world's first cryptocurrency and exchange platform.

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<v Speaker 2>It launched in two thousand and eight, and the central

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<v Speaker 2>idea behind bitcoin was the ability to make payments without

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<v Speaker 2>going through traditional banking channels. So the digital currency runs

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<v Speaker 2>via something called the blockchain, where all transactions are verified

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<v Speaker 2>and connected in sequence, and it goes to this whole

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<v Speaker 2>idea of decentralizing the way that we understand financing and

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<v Speaker 2>money and.

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<v Speaker 4>Power really in the world around us. You're right.

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<v Speaker 2>In twenty ten, a man in the US state of

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<v Speaker 2>Florida made the first commercial purchase using bitcoin when he

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<v Speaker 2>brought two pizzas.

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<v Speaker 3>And so the discussion this week is about who invented it.

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<v Speaker 3>And you said before that the person who invented it,

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<v Speaker 3>what we do know is that they used a fake name.

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<v Speaker 2>Right. So Bitcoin's first white paper, as it's called, which

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<v Speaker 2>is just a document describing how bitcoin would work, that

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<v Speaker 2>was drafted under the name I mentioned before, Satoshi Nakamoto,

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<v Speaker 2>And in twenty fifteen several tech publications named somebody called

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<v Speaker 2>Craig Wright, who funnily enough, is an Australian scientif.

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<v Speaker 3>Wow, there's a local angleton I know.

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<v Speaker 2>As the possible creator of bitcoin. Wright alleges that he

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<v Speaker 2>wrote the paper under this pseudonym Totoshi Nakamoto. A bit

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<v Speaker 2>about Craig Wright, who I truly had never heard of

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<v Speaker 2>until this week and had no idea that there was

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<v Speaker 2>any local connection to the story of bitcoin. Craig Wright

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<v Speaker 2>describes himself like this in his Twitter bio. He says,

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<v Speaker 2>the creator of bitcoin, eternal student and researcher in chain, consultant, lawyer, economist, pastor, investor,

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<v Speaker 2>mathematician and husband.

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<v Speaker 4>That's does he have more hours in the day?

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<v Speaker 3>What I mean that a normal person? What an incredible buyer?

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<v Speaker 2>I mean some of those make sense together, some of

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<v Speaker 2>them are a bit confusing anyway.

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<v Speaker 3>So he says he is the creative of bitcoin.

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<v Speaker 2>So in all the spare time he has from being

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<v Speaker 2>a loyer, economist, pastor, investor, and mathematician, son and husband,

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<v Speaker 2>why not create bitcoin?

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<v Speaker 4>He claims that.

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<v Speaker 2>But not everyone is on board with this idea that

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<v Speaker 2>he is actually the creator of bitcoin. Some online reports

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<v Speaker 2>have questioned the claims and have said that he forged

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<v Speaker 2>some of his academic credentials. He's right, talking to Kipko

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<v Speaker 2>News in twenty twenty two.

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<v Speaker 5>In twenty fifteen, Wyatt and Gizmoto put a whole lot

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<v Speaker 5>of clap trap out outing me. I didn't want that

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<v Speaker 5>out and a number of other people in Core did

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<v Speaker 5>that to basically muddy the waters about what I was doing.

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<v Speaker 5>I mean, then they came out with a whole lot

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<v Speaker 5>of stuff about fake degrees, et cetera, which there's all

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<v Speaker 5>proven wrong, but I didn't really want to face sort

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<v Speaker 5>of media or any of that at the time.

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<v Speaker 2>Nakamoto's identity has never been verified. And now there is this,

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<v Speaker 2>as I said, ongoing lawsuit as to who actually is

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<v Speaker 2>the real founder. Is it this Australian professor or is

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<v Speaker 2>it someone else?

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<v Speaker 3>And so who's the lawsuit between? Like how does that

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<v Speaker 3>actually work in court?

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<v Speaker 2>So Craig Right, the Aussie scientist, he's launched multiple lawsuits

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<v Speaker 2>against people who have developed bitcoin technology without his consent.

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<v Speaker 2>He claims to hold the copyright to the cryptocurrency.

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<v Speaker 3>You know what's interesting about that claim is that the

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<v Speaker 3>whole idea.

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<v Speaker 2>There's no ownership, Yeah, yeah, is meant to decentralize ownership, right,

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<v Speaker 2>and he were talking about.

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<v Speaker 4>But like if I created something like bitcoin, you.

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<v Speaker 3>Want to cut it.

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<v Speaker 2>Yeah, So he brought a defamation lawsuit against a blogger

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<v Speaker 2>and a podcaster who said that he wasn't the creator

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<v Speaker 2>of bitcoin. And then now the case that we're talking

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<v Speaker 2>about is a group of tech developers who are suing him.

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<v Speaker 2>They're saying that he falsified his identity and that his

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<v Speaker 2>copyright claim to bitcoin is delaying innovation to the cryptocurrency technology.

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<v Speaker 2>And the group that is suing Right is called the

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<v Speaker 2>Cryptocurrency Open Patent Alliance. We're going to call them COPA.

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<v Speaker 2>It's a group of individuals and organizations linked to the

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<v Speaker 2>crypto industry. And I kept seeing headlines when I was

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<v Speaker 2>reading about this about Jack Dawsey.

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<v Speaker 3>Who's a former CEO of Twitter.

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<v Speaker 4>Correct, he is financially backing COPA.

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<v Speaker 3>Okay, so they're well funded.

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<v Speaker 4>Yes, So that's a.

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<v Speaker 2>Group that is taking legal action against RIGHT, and they

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<v Speaker 2>claim that developers have been silenced by thread of legal

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<v Speaker 2>action from RIGHT, and they've suggested that the future of

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<v Speaker 2>the crypto.

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<v Speaker 4>Industry is at stake.

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<v Speaker 2>The main aspect of the case is looking to prove

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<v Speaker 2>that Right is not Satoshi Nakamoto last month writes intermedia

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<v Speaker 2>release out saying that he had tried to settle the

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<v Speaker 2>case with COPA. The settlement offer included inviting the involved

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<v Speaker 2>parties to make a donation to a specific Australian church

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<v Speaker 2>which runs community support services. So that was one of

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<v Speaker 2>the elements of this settlement, which is fascinating another was

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<v Speaker 2>ending what he labeled as any media campaign against me

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<v Speaker 2>and committing to ensure that bitcoin isn't used to lauander

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<v Speaker 2>money or evade taxes. So those were the conditions that

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<v Speaker 2>he wanted to settle. Ultimately, COPA rejected that settlement offer,

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<v Speaker 2>and it's now gone to court in the UK.

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<v Speaker 3>So we've now got that core case playing out. What's

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<v Speaker 3>been happening in the courtroom.

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<v Speaker 2>Yes, so, Copa's lawyers this week alleged that Wright had

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<v Speaker 2>committed forgery on an industrial scale.

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<v Speaker 4>It's a direct quote there.

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<v Speaker 2>He stands by his claims obviously that he is the founder,

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<v Speaker 2>insisting that he never forged any of these documents. Part

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<v Speaker 2>of his defense rights defense will also rely on proving

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<v Speaker 2>that COPA can't actually provide an alternative for who this

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<v Speaker 2>pseudonym actually is.

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<v Speaker 3>Right. I think it's so if you don't know any better,

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<v Speaker 3>it could be me, I do. I think I'm not

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<v Speaker 3>saying I invented bitclaim. It definitely wasn't me. When I

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<v Speaker 3>was fourteen, I was thinking about you know, footy.

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<v Speaker 2>No one has successfully proven that it was them, right,

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<v Speaker 2>and so in the absence of being able to identify

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<v Speaker 2>it right as saying, well, if you can't identify anyone else,

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<v Speaker 2>and I'm saying it's me, you know, go forth with

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<v Speaker 2>that knowledge, And that's the case that's playing out in

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<v Speaker 2>the court at the moment.

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<v Speaker 3>I think it's just absolutely fascinating to think about how

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<v Speaker 3>much this technology has changed the world and has the

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<v Speaker 3>potential to be even more embedded into our financial systems.

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<v Speaker 3>I mean, in the last twelve months, it's just been

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<v Speaker 3>adopted by a country as a sovereign coin for the

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<v Speaker 3>first time, that's El Salvador. But yet despite that impact,

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<v Speaker 3>we don't know who the owner is, whether it's Craig

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<v Speaker 3>Right from Australia or well.

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<v Speaker 2>I think that's why it's you know, we always talk

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<v Speaker 2>about this news versus noise. I think ordinarily, if I

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<v Speaker 2>was reading a piece about something like this, I would

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<v Speaker 2>think it's noise.

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<v Speaker 4>But I think you're right.

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<v Speaker 2>I think that the significant impact it has made in

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<v Speaker 2>kind of all economic spheres means it actually is really

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<v Speaker 2>important where it came from, what its origin is, what

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<v Speaker 2>the use of it was originally, and what the intention

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<v Speaker 2>was because it's reshaped everything.

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<v Speaker 3>But interestingly, it wouldn't matter who invented it if Craig

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<v Speaker 3>Wright wasn't taking action to stop the development of it.

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<v Speaker 3>So in some ways he's trying to kind of stand

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<v Speaker 3>his authority on this coin. I mean, we don't know

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<v Speaker 3>who invented money. I'm sure somebody does, but if there

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<v Speaker 3>was a claim to patent money that would be very

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<v Speaker 3>interesting as well. Well, you've got the answer of wow,

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<v Speaker 3>those existential questions. Ends the week.

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<v Speaker 2>Thanks for joining us for another week on the Daily Odds.

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<v Speaker 2>If you have found us through the Daily Drive, welcome.

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<v Speaker 2>We're back next week for another big week in the news,

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<v Speaker 2>but until then, have a fabulous weekend

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<v Speaker 1>Already and this is the Daily Oh now it makes sense.