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▲ Bitcoin (BTC), Satoshi Nakamoto/ChatGPT generated image
Bitcoin (BTC) developer Paul Sztorc has announced a hard fork plan to redistribute Satoshi Nakamoto's assets. This news is sparking intense ownership controversy in the virtual asset industry.
According to a report by virtual asset media Decrypt on April 28 (local time), Paul Sztorc plans to implement a hard fork named eCash in August. The hard fork will occur at block height 964,000. The core content is to reallocate up to half of the 1.1 million BTC held by Satoshi Nakamoto. Approximately $40 billion worth of value will leave the creator's hands and be converted into a fund for new ecosystem development.
Sztorc explained that eCash will maintain Bitcoin's design while integrating Drivechains technology. At the time of the hard fork, all users holding Bitcoin will receive eCash at a 1:1 ratio. An investor holding 4.19 BTC will additionally receive the same amount, 4.19 eCash. Sztorc stated, "Satoshi Nakamoto's assets will be maintained, but I will sell some tokens to activate the project."
However, this plan has faced strong criticism for violating Bitcoin's immutability. Virtual asset analyst Peter McCormack described the plan as outright theft. The arbitrary handling of Satoshi Nakamoto's coins is criticized as a decision that disregards respect. While there have been numerous hard forks in the past, this is the first instance attempting to redistribute the creator's holdings.
Sztorc argued that this decision is necessary to prevent eCash from being abandoned without early contributors. He added that compared to Satoshi Nakamoto not receiving rewards from other assets, the provision of 600,000 eCash is sufficient compensation. The virtual asset community is watching closely to see whether this hard fork will be a technological innovation or a dangerous precedent that undermines trust.
*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*
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