Ethereum Classic Soars Over Hard Fork, Craig Wright Wins Copyright Case

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Last Updated on 30 June 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin remains steady near the $35k mark as it continues its almost boring summer months. As said, the world’s biggest crypto has been stuck in a tight trading range for several weeks now.

XRP, the coin of Ripple Labs, is proving resilient and has risen over 5% in the past day, over 6% in the past week as rumors of a possible settlements with the SEC arise on social media again.

The biggest winner today however is Ethereum Classic (up 25%), which announced that it is aiming for a major upgrade in late July. The developers informed the community about the hard fork that will happen to implement the coin’s latest version and introduce major changes, an upgrade that has been dubbed Magneto.

In an announcement, the community was told:

To ensure a successful fork, we ask ETC consumers to upgrade their node software to a Magneto compatible version if they have not done so already. If you’re not operating nodes or services, but use ETC through other services, then check with that service to ensure they’re supporting the Magneto hard fork.

Ethereum Classic is gaining mentions on social media as Twitter and 4Chan in the past few days.

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Craig Wright Wins Copyright Case

The Bitcoin Whitepaper, the origin document explaining the meaning and future usage of Bitcoin has once been called a work of internet poetry by Twitter CEO Jack Dorsey.

As multiple crypto sites had published it, the man who claims to be Satoshi Nakamoto, aka Australian businessman Craig Wright, had sued them in court for copyright infringement. Given that Wright claims to be the original Bitcoin creator, he also claims to hold the sole legitimacy to publish the Bitcoin White Paper.

One of the websites that were sued by Wright, the Bitcoin.org URL holders, have now lost their court case as they decided not to mount a defense against the suit. The owners of Bitcoin.org have been sentenced to pay some $50,000 for Wright defense team in order to cover his legal costs.

Craig Wright’s lawyer stated:

Dr Wright does not wish to restrict access to his White Paper. However, he does not agree that it should be used by supporters and developers of alternative assets, such as Bitcoin Core, to promote or otherwise misrepresent those assets as being Bitcoin given that they do not support or align with the vision for Bitcoin as he set out in his White Paper.

With this, Craig Wright has just ensured that he is hated by even more people in the cryptosphere. In the past, he already tried to sue Ethereum founder Vitalik Buterin and many others.