Reasons Behind BSV Skyrocketing

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"Tulip Trust" and Huge Bitcoins

What is a Tulip Trust? Why is the trust associated with Satoshi, and why are there so many bitcoins in it? To be honest, the story is long.

Let's cut the long story short.

CSW has been claiming to be the real Satoshi Nakamoto since 2015. Because the traces he disclosed have many similarities with Satoshi Nakamoto who was once active on the Internet, he initially gained the trust of early members of the Bitcoin community. The strange thing is that CSW has been reluctant to take out the signature of the Bitcoin genesis block for a long time. He is not saying that taking out the signature in public will bring him personal danger, or that he cannot take out the signature due to various objective reasons. And this is the most critical step to prove that he is Satoshi Nakamoto.

The emergence of CSW once plunged the Bitcoin community into chaos. It was not until he got involved in a lawsuit that the truth of this matter was presented to people more and more deeply. It turned out that CSW was Dave Kleiman's business partner. According to various information unearthed later, more and more people believe that the real Satoshi Nakamoto should be Kleiman rather than CSW. The details here will not be repeated in this article. For specific content, readers can refer to the previous article "Satoshi Ao Ben: A Lie That Is Collapsing" by Carbon Chain Value.

Sadly, Dave Kleiman passed away mysteriously in 2013. But W&K Info Defense Research LLC, the company he founded before his death, has mined 1.1 million bitcoins and hosted them in a custodian called "Tulip Trust". You know, there are only 21 million bitcoins in total. Only 18 million have been excavated now, of which about 10 million are currently dormant. It is conceivable that if the 1.1 million bitcoins in the Tulip Trust really exist, and once they are unlocked and flow into the market, the price of bitcoins will suffer a devastating blow.

Then again, after Dave Kleiman's death, his brother Ira Kleiman quickly found out about the estate. However, the cryptocurrency community was still in its early days, and Ira Kleiman was not an insider. Although he was Dave's brother, he was unaware of the bitcoins he owned and its potential value.

CSW took advantage of Ira's ignorance of Bitcoin. At that time, Ira Kleiman did not know that the value contained in these bitcoins would be an "astronomical figure". And CSW told Ira that he and Dave Kleiman jointly created and owned a large amount of Bitcoin, and also jointly owned intellectual property rights, and Dave Kleiman had also signed some documents before his death, agreeing to hold himself at that time. Some bitcoins and intellectual property are transferred, sold or returned to CSW.

At the beginning, Ella didn't take this matter to heart, but as the price of Bitcoin rose higher and higher, Ella gradually realized what kind of wealth his brother left him; These documents were actually forged! In early 2018, Ella finally made up her mind to sue CSW and submitted the case to the U.S. District Court for the Southern District of Florida.

Under CSW's delaying tactics, the case has been fought from 2018 to 2020. The reason for the repeated delays is that he has claimed in court that he stored the algorithm, software, and an undisclosed version of bitcoin he was developing into an encrypted file, and then divided the file key and gave it to different people. Most of it went to Dave Kleiman, who supposedly gave the key to a bonded courier. According to the agreement, the guaranteed messenger will not return the key until January 2020.

Without this key, no one can unlock the sky-high bitcoins in the Tulip Trust, neither Ella nor CSW can get the money. As a result, the court has repeatedly granted extensions.

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CSW provides the court with key evidence of self-certified Satoshi Nakamoto

According to a trial document submitted to the U.S. District Court of South Florida on January 14, CSW has obtained a third party (a third party), namely the "Tulip Trust" information and key slice provided by the secured messenger ( key slice), which means that the huge Bitcoin encrypted file of up to 9.6 billion U.S. dollars previously sealed may be unlocked. It is worth mentioning that the key file secured courier acting as a "middleman" was very mysterious and did not provide any name information.

In another disclosed court document, Ira Kleiman's lawyer stated that it only provided a list of 16,404 addresses and did not provide any information about the key. (Note: Providing a list of addresses does not imply possession of the key.)

Unlocking the bitcoin held by the "Tulip Trust" is the key to this case. It is reported that the documents storing the relevant key information were sent by courier and should have arrived at the court on January 1, 2020, but CSW did not confirm or deny whether this happened at the time, but only asked the court to postpone the case. On January 10, 2020, U.S. District Court Judge Beth Bloom granted his request for an extension, allowing CSW to submit relevant evidence to the court until February 3, 2020.

Ira Kleiman's lawyer stated that the plaintiff (ie Ira Kleiman) required CSW to respond within ten days through seven cross-examinations to provide the keys to lock the bitcoins. Plaintiffs will then use these responses to seek additional litigation information about related companies. During this time, Plaintiff is engaging experts to review and analyze the list of addresses provided by CSW. The plaintiffs expect that they will completely "break" CSW after they get the truth in early March 2020.

At present, the "Tulip Trust" holds 1.1 million bitcoins, which is also the core of Ira Kleiman's case against CSW. Kleiman believes the man embezzled the fortune and also forged documents, emails and other correspondence to defraud his brother Dave Kleiman of his fortune.

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Behind the BSV magic explosion

If these keys can really unlock the 1.1 million bitcoins held by the "Tulip Trust", it will undoubtedly throw a heavy blow to the entire cryptocurrency market. It can be said that the Ella v. Ao Bencong case has become the most concerned case in the cryptocurrency circle.

It is worth noting that on January 14 (the day CSW claimed to have mastered the key evidence of self-certification), BSV on the CSW platform started a "magic" pull-up, from $210 to $455 in a single day The highest increase reached 116%. At the same time, the currency price surpassed the forked counterpart coin BCH, and became the fourth largest currency in the cryptocurrency market by market value. On the same day, the price of Bitcoin, the "large market index" of cryptocurrency, rose by only 7%.

In the currency circle, it is not uncommon for those projects to rise by 1000% at one time. Why did BSV rise by 116%, causing such an uproar? The reason is that generally speaking, those explosive projects have a small market value, are highly controlled by market makers, and have low liquidity, so price manipulation is extremely easy. However, for a project party like BSV, the amount of funds required and the difficulty of operation are much greater to suddenly pull the market value ranking into the top four in the cryptocurrency market. At the same time as BSV exploded this time, many people also sold coins and shipped them. The trading volume on the 14th and 15th was astonishingly high, but the price of BSV remained above $400 for more than a day. The strong financial strength of the controlling party behind it can be imagined.

CSW itself does not actually have enough funds to pull market for BSV. Some people suspect that the real "gold master" who manipulated the price of BSV currency behind the scenes is Calvin Ayre (Calvin Ayre), who has been secretly funding CSW. Regarding the rise in the price of BSV, Calvin Ayre has responded quickly on Twitter. He pointed out that if BSV continues to rise, the market value will soon surpass BCH, and Bitcoin miners will slowly switch to BSV. (Carbon chain value note: CSW and Calvin Ayre currently control about 40% of the computing power of the BSV network).

So, how do you view the future direction of BSV?

One optimistic view from BSV community members is that CSW will unlock 1.1 million bitcoins in the "Tulip Trust" in 2020, use these bitcoins to blow the market upside down, and then buy "real bitcoins" BSV. At that time, the price of BSV will be far higher than the current price. "$1,000 is a small thing, it's just the beginning."

Another view is diametrically opposed to the former. Some people think that with Ella pressing every step of the way in court, CSW's fox tail will be out of hiding. Once he discloses his credit bankruptcy in court, the maneuverability of the BSV plate will decline. Instead of waiting for the plate to lose its attractiveness to the community, it is better to take advantage of the current situation to mobilize and mow. "I will believe it even if it reaches $1,000, after all, there is a huge sickle behind it."

In fact, since Craig Wright has applied for an adjournment of the trial and has been approved by U.S. District Court Judge Beth Bloom, he can submit evidence before February 3, 2020, which means that Wright Greg Wright got another roughly 18-day reprieve. But problems have also emerged. If Craig Wright fails to produce the key on February 3, or provides the wrong key, it will also bring unpredictable consequences to the current skyrocketing BSV.

There is also a darker speculation: Even if CSW got the 1.1 million bitcoins, he could refuse to provide enough evidence for the court. Because according to the previous ruling, if he has so many assets, he must distribute half of them, that is, 550,000 bitcoins, to Ira Kleiman. Faced with such a large loss, CSW can completely give up the name of Satoshi Nakamoto. But before that, he can harvest the BSV community well, and then spend the rest of his life with the 1.1 million bitcoins with the harvested money.

But at present, these speculations are not important. After all, the core fans of BSV have obtained a return on assets. As for who will take over, that is not their concern. It will be a happy new year to greet these people.

Halved market. Eight currencies, some of which have already risen, Doomsday Chariot is still relatively safe, although other currencies are given priority to reduce production by 20%, ETH should still make up for it. Compared with BSV, many contract exchanges have removed BSV contracts one after another, and cannot afford to spend...

1.15 Today's Quotes

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Yesterday, I chose to make a strong upward breakthrough. The highest contract price reached 8900, but the pressure above 8900 is obvious. It is expected that there should be a small adjustment in this position. Recently, mainstream currencies have fluctuated violently. Investors are advised to control their positions, pay attention to risks, and strictly stop losses.

When your talent can’t support your ambition, you should calm down and learn. When your ability can’t control your goal, you should sink down and practice. Only through learning, trading, and summarizing, can you learn You will understand that it is not that you are not accepted by the market, but that you were unwilling to change before. There are two types of investment, one is physical investment, which is to solve food and clothing, and the other is spiritual investment, which is to realize the value of life. It is a game and race against human greed and fear.

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