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The Face Behind Bitcoin?

mag.newsweek.com

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Re: The Face Behind Bitcoin?

#41

Post by rtpg »

ewoodrich wrote: post #38
nwh wrote: post #22

Being labeled Satoshi regardless of truth is pretty much going to get you robbed, kidnapped or killed. This dude lives in this town and has $400M of untraceable currency? The article gives his name, face, address and relatives. You can be sure as hell that somebody will do something stupid to try and get to it. I wouldn't wish this label upon anybody, it's exactly why the community tries to avoid speculating about it…

It is hardly untraceable. I hear Bitcoin advocates frequently claim that government has an interest in "shutting down Bitcoin", but compared to the all-cash industry of most organized crime, Bitcoin's pseudonymity is law enforcement's dream come true. A state actor would merely have to obtain the identity of one key in a series of transactions on the blockchain, and would gain far more information than any informant…

One thing that someone noted is that for a seller of illicit goods, bitcoin is better than paper in that with dollar bills you have to physically pick them up at one point.

With bitcoin, sure you can trace coins, but laundering services (namely things like exchanges) can make you disappear a bit quicker.

Overall, though, bitcoin is the IRS' dream.

Re: The Face Behind Bitcoin?

#42

Post by thaumasiotes »

dagw wrote: post #24
Angostura wrote: post #21

Earlier quoted context omitted.

While I empathise withe guy and understand his discomfiture at being discovered, I don't have any particular problems with the ethics of the piece.

They basically published not only his full name and home address, but that of his whole family. What journalistic purpose does that serve? They could have written exactly the same story, but without giving away exactly where he and his family lives, and it wouldn't have suffered in any way.

> They basically published not only his full name and home address, but that of his whole family.

I might argue that it's often difficult to publish someone's home address without publishing his family's address too.

Re: The Face Behind Bitcoin?

#43

Post by Angostura »

Blahah wrote: post #26
Angostura wrote: post #21

Earlier quoted context omitted.

While I empathise withe guy and understand his discomfiture at being discovered, I don't have any particular problems with the ethics of the piece.

Really? From the photo of his house, people on reddit have already got his address. And the photo shows his car registration. They also explicitly state he's got keys worth ~$400 million. Seems like painting a target on him.

The photo of the house and the car is extraneous, I agree. However, there is he, apparently posing for a photo. This is a man who decided to use his own family name in the Bitcoin papers, and the journalist simply searched people with the family name to find a decent match and did a lot of leg work.

Re: The Face Behind Bitcoin?

#44

Post by brohee »

nwh wrote: post #22

Being labeled Satoshi regardless of truth is pretty much going to get you robbed, kidnapped or killed. This dude lives in this town and has $400M of untraceable currency? The article gives his name, face, address and relatives. You can be sure as hell that somebody will do something stupid to try and get to it. I wouldn't wish this label upon anybody, it's exactly why the community tries to avoid speculating about it…

The main issue here is that Newsweek is not a newspaper anymore. It was sold for a pitance to a small Internet only publisher named IBT media ans is now a glorified blog.

A recent article on France showed that fact checking wasn't part of the editorial process anymore...

At this pace, the name will be completely worthless within five years...

edit: well, it seems it is back in print just this week, but with very few printed

Re: The Face Behind Bitcoin?

#46

Post by confluence »

There's one thing that doesn't add up: why would such a privacy conscious man use his real name on a project he thought might be illegal? If he was so serious about his privacy, he would not have used his real name in public.

Re: The Face Behind Bitcoin?

#47

Post by [deleted] »

ewoodrich wrote: post #38
nwh wrote: post #22

Being labeled Satoshi regardless of truth is pretty much going to get you robbed, kidnapped or killed. This dude lives in this town and has $400M of untraceable currency? The article gives his name, face, address and relatives. You can be sure as hell that somebody will do something stupid to try and get to it. I wouldn't wish this label upon anybody, it's exactly why the community tries to avoid speculating about it…

It is hardly untraceable. I hear Bitcoin advocates frequently claim that government has an interest in "shutting down Bitcoin", but compared to the all-cash industry of most organized crime, Bitcoin's pseudonymity is law enforcement's dream come true. A state actor would merely have to obtain the identity of one key in a series of transactions on the blockchain, and would gain far more information than any informant…

[deleted]

Re: The Face Behind Bitcoin?

#48

Post by greyskull »

mcphilip wrote: post #15

Apparently the author of this newsweek piece will be on CNBC sometime this morning: https://twitter.com/SquawkCNBC/status/441544016421978112

I feel really bad for Mr. Nakamoto. He would have likely been found out at some point, but this is the worst way for it to happen. Now everyone knows.

If he was put off by just one journalist visit, I imagine he'll consider relocating now.

Re: The Face Behind Bitcoin?

#49

Post by Tyrannosaurs »

jxf wrote: post #28

So Newsweek outed a guy who allegedly owns half a billion dollars in pseudo-untraceable, digital cash? I hope they're also going to chip in for a permanent security detail... More seriously, I think they could have done a better job reporting on the identity without giving so much away: * A picture of his house is posted, identical to the one in Google Street View * The license plate is relatively clear in the high-r…

I agree with you, but would temper it very slightly by saying that a man with a $400m fortune has some options here.

That doesn't make it right and his wealth doesn't make him free game but it does mean that he's not completely been hung out to dry.

Re: The Face Behind Bitcoin?

#50

Post by [deleted] »

ewoodrich wrote: post #38
nwh wrote: post #22

Being labeled Satoshi regardless of truth is pretty much going to get you robbed, kidnapped or killed. This dude lives in this town and has $400M of untraceable currency? The article gives his name, face, address and relatives. You can be sure as hell that somebody will do something stupid to try and get to it. I wouldn't wish this label upon anybody, it's exactly why the community tries to avoid speculating about it…

It is hardly untraceable. I hear Bitcoin advocates frequently claim that government has an interest in "shutting down Bitcoin", but compared to the all-cash industry of most organized crime, Bitcoin's pseudonymity is law enforcement's dream come true. A state actor would merely have to obtain the identity of one key in a series of transactions on the blockchain, and would gain far more information than any informant…

[deleted]
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