Hodlonaut vs Craig Wright: Is he Satoshi Nakamoto?

Monday the Bitcoin trial against Craig Wright and Twitter handle Hodlonaut began.

Monday the Bitcoin trial against Craig Wright and Twitter handle Hodlonaut kicked off. The two have been feuding since 2019, bringing up in court the question: is Wright really Satoshi Nakamoto?

If you’re looking for the inventor of Bitcoin, you’ll keep running into the same name: Satoshi Nakamoto. The catch: it’s a pseudonym. Probably no one knows their true identity.

The Satoshi Mystery

For years, people in crypto space have speculated about who the real Satoshi is. Names like Hal Finey or Dave Kleiman have floated around the net for a long time. Australian multi-millionaire Craig Wright even claims to be Bitcoin’s inventor.

This has led to recurring sometimes comical disputes: most recently the podcaster behind "What Bitcoin Did", Peter McCormack, ranted against the “alleged” Satoshi. He called him a fraud, a liar, and an idiot. Wright filed a lawsuit over it. A British High Court judge ruled that the insults would seriously harm his reputation. McCormack would owe just £1 in damages.

The Hodlonaut vs Craig Wright Case

In March 2019 the next drama began. A Twitter user known by the pseudonym Hodlonaut posted some spiteful messages about Wright. In those posts, which were later deleted, he accused him of being a liar and a fraud.

The alleged Satoshi fought back and filed a lawsuit against his tormentor. A month later, to uncover the identity of the anonymous person, he posted a "$5000 in Bitcoin Satoshi Vision (BSV)" bounty as a lot in Bitcoin.

A private investigator revealed the real person behind View post on X. View post on X. On that basis he wasn’t required to pay Wright damages. Wright, in turn, sued Hodlonaut in the UK for defamation in June 2019.

The View post on X in May this year said there was no serious damage done to Wright’s reputation. Hodlonaut was ordered to pay £112,000 in court costs.

Ongoing Court Proceedings

In Norway, a multi-day trial has been underway since Monday. Twitter user @bitnorbert provided live coverage from the scene. He summarized the first three days of the trial. He said, according to him, that “the court booked the largest courtroom in Norway for seven days for this case.” The first two days, he noted, were opening statements from both sides as lawyers walked through the evidence they had filed. “Those days felt a bit long because lawyers reading that stuff aloud isn’t very exciting,” he said.

Yesterday, however, the case picked up during the cross-examination of Hodlonaut and Wright. The expectation was Wright’s side would try to delegitimize Hodlonaut as a regular online mob, and that’s exactly what they attempted. But it doesn’t fully stick if Hodlonaut can show Wright does the same.

Twitter user @bitnorbert

According to him, it’s hard to say where the judge stands so far. Norway doesn’t have a jury, only judges, he said. “So in the end, everything is decided by her. She asks tough questions of both sides, as it should be,” he explained.

After yesterday, I personally think she’s having a hard time with Wright, because he struggled to explain a lot of things and got very emotional.

Twitter user @bitnorbert

Witnesses from both sides are expected to take the stand in the coming days. By the way, all parties involved are under oath. In Germany, for example, anyone who provides false testimony while under oath faces Article 288(2) of the Criminal Code, with a prison sentence of six months to five years.

Why This Case Matters for Bitcoin

The #WeAreAllHodlonaut movement, launched in 2019 after the Hodlonaut hunt, got renewed attention just before the trial. In June Hodlonaut shared how much money he had spent fighting CSW.

To raise funds, the DefendingBTC campaign was launched. “Donations are NOW live — we’re aiming for US$2.1 million, but every Sat counts,” read a post on View post on X. For the Bitcoin community, this case is about more than Hodlonaut vs. Craig Wright. A ruling in favor of the pseudonymous Twitter user could set a precedent. In the future, it could set the tone for other Bitcoin-related lawsuits.

Many Bitcoiners doubt that the unreliable Australian is really Satoshi Nakamoto. Still, Wright continues to defend his stance. Those who did their homework have long known that we are all Satoshi Nakamoto.