Aussie thrilled to pay $142 million in damages after bitcoin court stoush

That’s because if he is who he says he is, Craig Wright holds 1.1 million bitcoin and is worth tens of billions of dollars.

The court awarded W&K Info Defense Research, a joint venture between the two men, $US100 million , which was significantly less than the amount Kleiman’s family was seeking.Stream more finance news live & on demand with Flash. Australia’s biggest news streaming service. New to Flash?Wright said he felt vindicated and that the verdict proved he is the creator of Bitcoin.

But a lawyer for the Kleiman estate, Devin Freedman, praised the verdict as “a historical precedent in the innovative and transformative industry of cryptocurrency and blockchain.” Bitcoin started in 2008, after “Nakamoto” published online an open-source paper introducing a new form of digital currency: designed to be used without the need for a central bank.Nakamoto came up with the idea for “coins” created by solving increasingly complex calculations that would eventually require extremely powerful computers. The number of Bitcoins in circulation will top out after a finite 21 million are mined — unlike traditional currency, which can be endlessly minted.

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