Facebook Coin to Launch in 2020, Craig Wright Copyrights Bitcoin Whitepaper | Hodler’s Digest

The whole crypto space was founded on the ideas of the original cypherpunks. But that was a long time ago, and now it's 2019, and it is time for the era of the crypto rock stars. This week I'm back. I'm Molly Jane, and this is your weekly Hodler's Digest. Let's take a look at the latest market updates. Nchain chief scientist Craig Wright is busy again with his favorite hobby, proving that he is Satoshi Nakamoto, the creator of bitcoin. On Tuesday, he successfully filed a copyright Registration to the U.S. copyright Office for the bitcoin white paper and source code. According to Wright's spokesperson, this is the first government agency recognition that Craig Wright is Satoshi Nakamoto, the creator of bitcoin, a claim that soon proved to be baseless. In fact, the U.S. copyright Office does not recognize authors of a given piece of work. It just registers applicants claims. As pointed out by an official press release, in a case where a work is registered under a pseudonym, the Copyright Office does not investigate whether there is a provable connection between the claimant and the pseudonymous author. Still, Wright's supporters have pointed out that by certifying his claims into legal records, Wright shows his readiness to defend them. In court, Wright said, I created bitcoin, but if you try and falsely claim that you did, you are committing a criminal offense and we will ensure that you are charged with a crime. Despite the dubious significance of Wright's copyright registration, Bitcoin SV the coin Wright is pushing as the only legitimate bitcoin skyrocketed by 125% after the registration was filed. This week, we talked to intellectual property lawyer David Edge Faw and asked him to clarify the legal side of the issue. So David, does a copyright registration carry any sort of legal weight with US.

Copyright registration, you get the keys to the courtroom. If I were to accuse you of infringing my copyright and took you to court, the first question the judge would ask is, Mr. Foe, do you have a registration with the U.S. copyright Office? If I said, no, I don't have a registration, the court would dismiss the case and allow me time to go and get the registration. You can't even sue anybody without the registration.

So what would the benefit be then for Craig Wright to file the registration in the first place?

So if somebody were to claim the white paper for him or herself, that wasn't Craig and he wanted to sue, he would have to prove that he had a prima facie that he had the legitimate copyright at that point, should this go into court, he would have to Show Proof that 2008 he wrote this thing beyond what the Copyright office had asked of him. He doesn't have to proactively go out and prove it in court. He's made the claim, he's got the registration. Now it's up to the rest of the world if they want to challenge him on it.

We also reached out to Jimmy Nguyen, Wright's staunch supporter and president of the Bitcoin association, asking him to comment on the issue. So, Jimmy, the copyright registration does not actually recognize Craig Wright as Satoshi Nakamoto, as it doesn't have the mandate to prove his claim's truthfulness. What's the point of getting the copyright registration then?

He's chosen to do it for a very simple reason. As we all know, there have been for many years, people saying he's a liar, he's a fraud, that he's not really satoshi. And as you've seen, he's been taking efforts to establish that he is the creator of Bitcoin. Not on Twitter, not on social media, where people can say whatever they want, want and send out what he believes are forged documents against him. He's using the legal system. So one step in that process is to say, legally, I'm going to certify as a matter of law to the U.S. copyright Office that I am the author of the Bitcoin white paper and most of the early code and receive then a registration certificate which confirms my claim of ownership of that, and that carries certain legal weight. To submit the application, you have to certify, I actually am the author, I authored this, I own it. And subject yourself to potential criminal penalties in the event that that's false, people will dispute that and they're perfectly entitled to dispute that. But then if they want to dispute that, it becomes a legal question, not a question for social media.

Block 1, the developer of the EOS Blockchain, is returning huge profits to early investors through a new buyback plan. The company is repurchasing 10% of its own shares, which could result in an outstanding 6,567% in return for early investors such as Venture Capital's Peter Thiel, that is equivalent to $6.6 million for a $100,000 stake. These are jaw dropping numbers considering the crisis that impacted the crypto market not too long ago. However, Block 1 investor Christian Angermeier told Bloomberg that he does not intend to sell his shares. He said Block 1 is one of the most promising and best positioned companies in the blockchain industry and its success story is just beginning. Last year, Block 1 had conducted the largest token crowdsale ever, which lasted for an entire year, gathering $4 billion, leading to the launch of the EOS Blockchain. At the time of its seed funding round, the company was worth $40 million. Since then, its value has been raised over $2.3 billion. Galaxy Digital is also benefiting from Block 1's outstanding performance. Mike Novogratz's firm sold the majority of its shares in Block 1, receiving $71.2 million, which means it secured a one hundred and twenty three percent return on the initial investment. Novogratz said that the sale was aimed at rebalancing the company's portfolio. According to a Bloomberg report, block 1 holds 140,000 bitcoins, which makes the company one of the largest holders of the original cryptocurrency. During the crypto winter, its crypto fortune had shrunk to $500 million, but it pretty much fully recovered during the recent price rally.

In my opinion, this is just the beginning. We're going to see a whole host of unicorns coming out of the blockchain arena. So it's not just EOS and Block 1. There's been some criticism that they raised so much money where Bitcoin hardly raised any and Ethereum hardly raised any money to grow the network. There's a lot more competition now. As more and more blockchains come online and more and more projects come online and more and more ridiculous projects come online, you still have to compete for the mind share of that audience. So you have to do that with capital. For one, it's not cheap to build and grow a community and to keep a community and that, you know, we think $4 billion is an extreme amount. But even you know, if you're trying to grow a network of a billion users, that's a dollar per user and times four, right? That's not that much capital. And when it's easy to raise money, you want to be raising money and then once you have that capital then you can start to put it back either to the shareholders or into building that network of users.

It has been a week of record highs for Stablecoins and Bitcoin derivatives. First off, the market cap for USD Stablecoins has hit an all time high. According to crypto research firm Dr. The market cap has reached over $4 billion. USD stablecoin trading volumes have surged with Circle and Coinbase backed USDC posting a 130% uptick in volume between April and May. USDC's trading volume increase since January 2019 is a whopping 435%. Trust tokens USD outperformed USDC in terms of absolute trading volumes, reporting $3.8 billion so far in May as compared with $2.88 billion in April. Despite still being dogged by uncertainty and scandal, tether is still king. The leading stablecoin commands the majority share of the market with trading volumes this year going past $1.3 trillion. That's already $200 million higher than the entirety of 2018. Dr. Also reported on Bitcoin derivatives. They revealed that institutional traders recently posted record high volumes on derivatives exchanges. The SME hit an all time high and incredible two months running. All in all a good time to be in the market.

Breaking news JPMorgan Chase says that Bitcoin has intrinsic value JP Morgan's strategist concluded that Bitcoin has recently been trading in a way that mirrors its late 2017 rally. Just before the price slump, the strategist reportedly analyzed Bitcoin as a commodity and calculated the cost of production. So basically they think the leading crypto has intrinsic value but has soared past it and will eventually crash again. But what really is intrinsic value anyway? Why do we trust the dollar so much? The dollar could crash, like at the end of Fight Club, when all the buildings fall and everything goes back to zero. And this week, former Congressman Ron Paul, who has neither confirmed nor denied membership in a fight club, claimed the Fed had created a bubble with the US dollar, which is on the brink of a major crash, and suggested Bitcoin as an alternative. But what alternative do we have if an asteroid hits the Earth, what intrinsic value does Jamie Dimon's 30 million dollar annual salary have if a giant rock plummets toward him and all of humanity, destroying everything that he loves, like his money and his family, but mostly his money. Just before the end, a revelation will appear to him that not only is Bitcoin a fraud, but everything is a delusion and everything is a fraud. Once you stare into the abyss, you realize that life is meaningless. Nothing matters and nothing has intrinsic value. No human achievement will be remembered when the world explodes.

This week a lot of exciting news has broken out around big actors entering the crypto space. According to a BBC report, Facebook will really launch its own stablecoin, dubbed the global coin, in 2020, with trials set to be conducted at the end of this year. According to the report, Mark Zuckerberg has been discussing regulatory issues with bank of England Governor Mark Carney and U.S. treasury officials, according to the Financial Times. Facebook is also discussing the future listing of its Coin on major crypto exchanges Coinbase and Gemini. Apparently, Facebook aims to create a payment system that will allow users to transfer money to each other, bypassing the traditional banking systems and lessening transaction fees. In order to realize this ambitious project, Facebook plans to cooperate with both banks and brokers all around the world, which will provide access to exchange services and fiat. On ramping as previously announced, Facebook plans to integrate its messaging services WhatsApp, Instagram and Messenger into one canopy, which will then give GlobalCoin a potential exposure to 2.7 million users each month. But Zuckerberg should better watch out because messaging firm Telegram is not lagging behind. According to recent reports from this week, the company will also be launching its own blockchain, the Telegram Open Network, or TON, in the third quarter of 2019. This TON network will supposedly be in competition with Ethereum and hosting decentralized applications. And last but definitely not least, this week US telecom and media giant AT&T started accepting crypto as a way of payment. From now on, it will be possible to pay for telephone bills using crypto via the Bitpay app. Bitpay is an app which converts crypto into fiat and is already adopted by around 20,000 different businesses. According to the announcement, AT&T is the first US based business in the wireless network industry to accept Bitcoin as a form of payment. So Game of Thrones has officially ended the sweet. But not only for us, the fans of the series, it is an end of an epic. For the cast it is the end as well. But for some, this end is just the beginning of a bigger step in life like it is for actor Jerome Flynn who played Bronn. This week it was revealed that Flynn became an advisor for a vegan focused ico. Sound surprising? Not for Game of Thrones fans. As you remember, Bronn was made a master of coin in the final episode, so it all makes sense. But so guys, what are you going to do now that Game of Thrones is over? Are you also going to start advising a beacon coin company? Comment below. And as always, remember to like subscribe and hodl cointelegraph like subscribe and hodl. It.