17 votes

Australian who says he invented bitcoin ordered to hand over between 410,000 and 500,000 bitcoin

3 comments

  1. [3]
    KapteinB
    Link
    There's a very big difference between handing over 5 billion USD (as the title implies) and handing over 500,000 bitcoin. Wright probably doesn't have that much money, so to obtain the money he...

    A US district court in Florida on Tuesday ruled that half of the bitcoin mined and half of the intellectual property held by Wright from that time belongs to Kleiman.

    One issue is it is not known exactly how much bitcoin Wright holds. It has been claimed that the Kleiman estate could get anywhere between 410,000 and 500,000 bitcoin, putting the value at between A$6.1bn and A$7.4bn as of Wednesday.

    There's a very big difference between handing over 5 billion USD (as the title implies) and handing over 500,000 bitcoin. Wright probably doesn't have that much money, so to obtain the money he would have to sell his bitcoin. But if he sells only a small fraction of those bitcoin, it will probably be enough to completely crash the entire bitcoin market, just like what happened when they sold off the recovered Mt. Gox bitcoin.

    11 votes
    1. [2]
      cfabbro
      Link Parent
      Updated the title... is that more accurate?

      Updated the title... is that more accurate?

      1. KapteinB
        Link Parent
        Well, you used the original article title, so the fault lies with The Guardian, not you. :-) But yes, the new title is more accurate, I believe.

        Well, you used the original article title, so the fault lies with The Guardian, not you. :-)

        But yes, the new title is more accurate, I believe.

        3 votes