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Man called Bitcoin's father denies ties, leads LA car chase
Reuters.com ^ | 3/6/2014 | Aron Ranen and Brandon Lowrey

Posted on 03/06/2014 7:29:24 PM PST by Mad Dawgg

(Reuters) - A Japanese American man thought to be the reclusive multi-millionaire father of Bitcoin emerged from a modest Southern California home and denied involvement with the digital currency before leading reporters on a freeway car chase to the local headquarters of the Associated Press.

Satoshi Nakamoto, a name known to legions of bitcoin traders, practitioners and boosters around the world, appeared to lose his anonymity on Thursday after Newsweek published a story that said he lived in Temple City, California, just east of Los Angeles.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Front Page News
KEYWORDS: bitcoin; nakamoto; satoshi; satoshinakamoto; tulipbulbs
Things that make you go hmmmm.
1 posted on 03/06/2014 7:29:24 PM PST by Mad Dawgg
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To: Mad Dawgg

If only we had this much fervor against politicians.


2 posted on 03/06/2014 7:31:36 PM PST by samadams2000 (Someone important make......The Call!)
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To: Mad Dawgg

Apparently there was a trading center in Japan that just went bust and “lost” some $450 million of the customers’ bitcoins in the process. They say it was hacked, but others are calling it embezzlement.


3 posted on 03/06/2014 7:31:36 PM PST by Carry_Okie (Islam offers us three choices: Defeat them utterly, die, or surrender to a life of slavery.)
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To: samadams2000
I am guessing he wants to stay hidden so he doesn't accidentally commit suicide...
4 posted on 03/06/2014 7:34:01 PM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: Mad Dawgg
I have this great, fantastic new electronic currency I am currently selling, called SkyPilotCoin It started trading at only 2 cents, but is now at over $278 each. I take credit or debit of course.
5 posted on 03/06/2014 7:37:22 PM PST by SkyPilot
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To: Lurkina.n.Learnin; nascarnation; TsonicTsunami08; SgtHooper; Ghost of SVR4; Lee N. Field; DTA; ...

Click to be Added / Removed.
6 posted on 03/06/2014 7:40:08 PM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Mad Dawgg

LOL, paparazzi on the move.


7 posted on 03/06/2014 7:42:30 PM PST by Lurkina.n.Learnin (This is not just stupid, we're talking Democrat stupid here.)
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To: Mad Dawgg

Governments have given out the marching orders to have the fourth arm take out this threat to their fiat currency.


8 posted on 03/06/2014 7:52:49 PM PST by gura (If Allah is so great, why does he need fat sexually confused fanboys to do his dirty work? -iowahawk)
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To: samadams2000

Those kinds of investigations take patience, planning and brains. Three things you don’t find in the legacy media.


9 posted on 03/06/2014 7:58:05 PM PST by 1010RD (First, Do No Harm)
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To: Mad Dawgg

So, reporters get to harass and intimidate someone to the point that he flees, and they chase. And they get to report it in a misleading way to imply (in the headline) that he is running from police, rather than aggressive reporters? Who the he!! Do they think they are?


10 posted on 03/06/2014 8:17:38 PM PST by passionfruit (When illegals become legal, even they won't do the work Americans won't do)
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To: Mad Dawgg

As developer of CatnipManCoin, I solemnly promise to never lead any media outfit on a car chase should they attempt to seek me out. Period.


11 posted on 03/06/2014 8:23:54 PM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Carry_Okie

Yes. That is/was Mt Gox, leader in Bitcoin promotion and exchange. It’s CEO killed herself yesterday.


12 posted on 03/06/2014 8:26:54 PM PST by ctdonath2 (Making good people helpless doesn't make bad people harmless.)
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To: ctdonath2

Think of how many shady folks want their money...and how many gov. want this over with.....this guy is in worse position than mr. zim.

NOONE gets to do any e-money till china gets her share of levered out e-money on their currency...NOONE.

Any statements that are not statements of historical fact (including statements containing the words “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, risks related to our chief executive officer transition and search, protection of our intellectual property, and economic conditions generally. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in the Company’s periodic reports, including our report on Form 10-K for the year ended December 31, 2012 and our report on Form 10-Q for the three months ended September 30, 2013. Forward-looking statements are based on the beliefs, opinions, and expectations of the Company’s management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. Forward-looking statements are based on the beliefs, opinions, and expectations of the Company’s management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. there can be no assurance.PEROID


13 posted on 03/06/2014 8:45:05 PM PST by Therapsid
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To: Mad Dawgg

“that make you go hmmmm.”
I go, $$$$$$$$$$$!!! ;)


14 posted on 03/06/2014 8:49:02 PM PST by Frank_2001
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To: Mad Dawgg

“Nakamoto”

Hey, wasn’t his building blown up in the first “Die Hard”?

hehehehe


15 posted on 03/06/2014 8:52:52 PM PST by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: ctdonath2

The woman that died was CEO of First Meta, which was involved in the Second Life online cjurrency. They recently started doing Bitcoin exchanges. They are not associated with MtGox at all.


16 posted on 03/06/2014 9:28:10 PM PST by Database
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To: SkyPilot

Your version makes as much sense to me as Bitcoin. I wrote in another thread some time back that Bitcoin sounded a lot like Beanie Babies and Cabbage Patch Dolls and received a few posts letting me more I was not smart enough to understand Bitcoin. I agree with that assessment but would like to mention that I am smart enough to recognize a scam when I see one.


17 posted on 03/07/2014 1:14:09 AM PST by Foundahardheadedwoman (God don't have a statute of limitations)
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To: ctdonath2
was Mt Gox, leader in Bitcoin promotion and exchange. It’s CEO killed herself

That is so freaking spurious! No such thing happened. You're confusing Mt Gox with another company named FirstMeta. The MSM recently tried to link the MtGox debacle to the recent death of Autumn Rathke, the CEO of FirstMeta. FirstMeta is a completely different company! The linkage proffered in the news is founded in that FirstMeta at one time accepted bitcoin along with other currencies in exchange for digital goods...The original business of MtGox was very similar to FirstMeta.

It only took 30 seconds to figure this out...

18 posted on 03/07/2014 2:30:07 AM PST by no-s (when democracy is displaced by tyranny, the armed citizen still gets to vote)
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To: Carry_Okie
that just went bust and “lost” some $450 million of the customers’ bitcoins in the process.

Amusingly it was originally founded to provide an out-of-game exchange for "property" in multiplayer online games...Seems people wanted to buy game artifacts like magic swords and such so as to avoid wasting the time playing as a newbie in the game...

19 posted on 03/07/2014 2:35:50 AM PST by no-s (when democracy is displaced by tyranny, the armed citizen still gets to vote)
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To: ctdonath2
Yes. That is/was Mt Gox, leader in Bitcoin promotion and exchange. It’s CEO killed herself yesterday.

False

Mt Gox IS busted. It is not related to the suicide yesterday
20 posted on 03/07/2014 2:49:28 AM PST by AK_47_7.62x39 (N)
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To: Foundahardheadedwoman

Well, there is a reason for bitcoin, or at least the idea of it, and that is the desire of people to get away from the GOVERNMENT having control over money. There was Egold and bitcoin and other cryptocurrencies. There may be a few more. The idea is having something that is “backed” by more than “the full faith and confidence of the US Government” which is also secure. They have the first part down, whether you are data mining prime numbers, using electronic warehouse receipts for gold or whatever. Egold (and now Bitcoin) have shown that the security part is also going to be troublesome.

Governments HATE this because people can move money quickly, and outside the control of the state, to an area they cannot confiscate. This is why bitcoin rocketed up to over $1,000 just after the seizure of funds by the Eurozone in Cyprus. Same thing with the currency controls now in place in Greece and Italy.

Look for howling screeches about “drug money” and “terrorism” from the usual state mouthpieces (and the idiots here who think themselves “patriots” in repeating the propaganda), but this is really about governments keeping wealth where they can tax and confiscate it, vs the desire of people to get it out of an environment where the government is committed to do that.


21 posted on 03/07/2014 2:57:52 AM PST by AK_47_7.62x39 (N)
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To: Mad Dawgg; P-Marlowe
Bitcoin is bought and sold on a peer-to-peer network independent of central control. Its value soared last year, and the total worth of bitcoins minted is now about $7 billion.

And I'm thinking that in a few months they'll be on a penny stock advertisement on TV.

A cyber digit is minted?

22 posted on 03/07/2014 5:12:05 AM PST by xzins ( Retired Army Chaplain and Proud of It! Those who truly support our troops pray for victory!)
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To: Mad Dawgg

I just heard the Bitcoin CEO, a young female, commited suicide a couple of days ago.


23 posted on 03/07/2014 5:29:27 AM PST by SisterK (behold a pale horse)
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To: AK_47_7.62x39

In other news, the IMF is already in Crimea, there to help re-build.


24 posted on 03/07/2014 5:36:02 AM PST by SisterK (behold a pale horse)
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To: ctdonath2
That is/was Mt Gox, leader in Bitcoin promotion and exchange. It’s CEO killed herself yesterday.

That's not true. The CEO of Mt Gox is Mark Karpeles who is very much still alive.

Autumn Radtke, the CEO of a company called First Meta, was found dead and suicide is suspected but not official yet. I searched their site and they have no Bitcoin trading that I can see. Only trading in game-related currency like "Lindens" (secondlife).

It would be like if somebody who sold credits for "Candy Crush" died and people tied it to Bitcoin.
25 posted on 03/07/2014 5:38:40 AM PST by mmichaels1970
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To: SisterK
I just heard the Bitcoin CEO, a young female, commited suicide a couple of days ago.

You heard wrong. But that's exactly the connection people would like you to make.
26 posted on 03/07/2014 5:42:15 AM PST by mmichaels1970
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To: mmichaels1970

Lots of confusion going around re bitcoins.


27 posted on 03/07/2014 5:48:44 AM PST by ctdonath2 (Making good people helpless doesn't make bad people harmless.)
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To: ctdonath2
Lots of confusion going around re bitcoins.

Agreed. A lot of it is media-driven.
28 posted on 03/07/2014 5:55:07 AM PST by mmichaels1970
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To: AK_47_7.62x39
Governments HATE this because people can move money quickly, and outside the control of the state, to an area they cannot confiscate. This is why bitcoin rocketed up to over $1,000 just after the seizure of funds by the Eurozone in Cyprus. Same thing with the currency controls now in place in Greece and Italy.

You definitely have the right idea. But here are a few more details. You don't have to move money anywhere ever since it is already distributed safely worldwide in a hashed chain. If you want to convert to cash and transfer coin to an exchange, then you can have problems. But simply keeping your coins is a snap: keep a secure backup of your private key (e.g. in a USB stick stuck someplace secure). Your coins will be safe in the chain forever.

The backing of bitcoin is proof of work, it takes 10 minutes to get the next coins and that is automatically controlled by the mining algorithms. There can be no glut of new coins since nobody can print them willy nilly. So scarcity is guaranteed.

The second criteria for a currency is spendability. That is guaranteed by the same mining algorithms that produce new coins. Each new coin issue is in a block and the block also contains all the transactions. A coin can not be fraudulently spent (need the private key) nor double spent (the chain is checked for double spending). Since that is all part of the mining, the same computing power devoted to mining is also devoted to transaction security.

29 posted on 03/07/2014 5:56:38 AM PST by palmer (There's someone in my lead but it's not me)
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To: no-s
The MSM recently tried to link the MtGox debacle to the recent death of Autumn Rathke, the CEO of FirstMeta. FirstMeta is a completely different company!

Now why in heaven would the MSM disparage an exchange in competition with the money gin preferred by their major stockholders?

30 posted on 03/07/2014 5:58:47 AM PST by Carry_Okie (ObamaCare: Make them pay; do not delay.)
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To: gura; xzins; Mad Dawg
Governments have given out the marching orders to have the fourth arm take out this threat to their fiat currency.

There is nothing backing up the value of a bitcoin other than the good faith and credit of the idiots who keep throwing money into it.

United States paper currency is subject to a slow and inevitable decline in value. Bitcoin, on the other hand is subject to an inevitable and instant disintegration. When Bitcoin collapses it will be worth nothing overnight.

It is an entirely ephemeral currency. It does not really exist except in the minds of the fools and suckers who are willing to trade real dollars for nothing more than Hope and Change.

31 posted on 03/07/2014 6:13:58 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: P-Marlowe; gura; Mad Dawg

Of interest to me is that the article says the car chase bitcoin engineer was worth 400 million bucks.

Taking him at his claim that he was not the founder of bitcoin but only an engineer involved in it, explain how he gets worth 400 million bucks. No one mentioned any patents, businesses, speech circuits, etc.

400 million....top of the pyramid or near the top.

Those at the bottom have in their possession cyber digits. Can’t eat it, touch it, taste it, see it....can barely explain it.

If I had some of them, I would quietly be trying to dump them.


32 posted on 03/07/2014 6:20:34 AM PST by xzins ( Retired Army Chaplain and Proud of It! Those who truly support our troops pray for victory!)
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To: ctdonath2

“Yes. That is/was Mt Gox, leader in Bitcoin promotion and exchange. It’s CEO killed herself yesterday.”

Nope, the suicide was not a Mt. Gox employee, but was involved another BTC exchange in Singapore. It’s not clear what prompted the suicide.

Likewise, Satoshi Nakamoto was not involved with Mt. Gox, a Japanese company. Its CEO was Mark Karpeles.

Meanwhile BTC continues to trade at around $650, roughly where it’s been for a month.


33 posted on 03/07/2014 6:40:47 AM PST by PreciousLiberty
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To: Mad Dawgg

34 posted on 03/07/2014 7:39:48 AM PST by 444Flyer (How long O LORD?)
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To: P-Marlowe
United States paper currency is subject to a slow and inevitable decline in value.

Are you sure about that?

Ask Argentina, Zimbabwe, the Wiemar Republic, Mexico, Russia or those old enough to remember the Great Depression if they believe it is possible for paper fiat money to rapidly collapse.

I have yet to hear a good answer to the question...

If we must have a fiat currency with no intrinsic value, that is back by nothing and it's only value is the faith that people put in it, what reason can you give as to why we should choose the USD over Bitcoin?

35 posted on 03/07/2014 7:48:00 AM PST by nitzy
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To: nitzy

I don’t have a lot of faith in our currency given the person who is charged with running our Treasury department and who is spending us into bankruptcy. However the reality is that the US Dollar is the strongest currency on the planet and I get paid every week in US Currency and everywhere I go in the World it is still accepted as legal tender for all debts public and private.

I would not be willing to hold a Bit coin in my computer for any longer than it would take for me to transfer it into another asset, be it goods, services or currency. It could completely crash in a matter of minutes and I could be holding an invisible ephemeral symbol of what used to be somebody’s hard earned money.

Buy the stupid bitcoins. Corner the market on them. I could care less what YOU do with your money. Eventually even Bitcoins need to be turned into dollars and the way things are going, it won’t be long before you won’t even be able to turn them into pennies.

I challenge you to take your entire life savings and buy bitcoins. If you trust them more than the dollar, then put your money where your mouth is.


36 posted on 03/07/2014 8:35:58 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: Mad Dawgg

He went on LA High speed chase didn’t get caught yet OH MAN amateur LOL!


37 posted on 03/07/2014 1:23:32 PM PST by SevenofNine (We are Freepers, all your media bases belong to us ,resistance is futile)
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To: nitzy

“If we must have a fiat currency with no intrinsic value, that is back by nothing and it’s only value is the faith that people put in it, what reason can you give as to why we should choose the USD over Bitcoin?”

I’ll give you one reason: Currency that is totally electronic is hard to get your mind around for the average person. People worry about the security of something that they don’t understand. Now this?

Both are fiat currencies as you say.


38 posted on 03/07/2014 1:35:06 PM PST by Tallguy
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To: Tallguy
I remember my Grandmother expressing the same type of concerns over ATM machines in the 1980's. She was afraid and refused to use them. Technology changes. People change with it. What I am more concerned with are the underlying aspects of the currency. Long term, Bitcoin is far and away superior to USD.

If you are concerned about the future of technology, you can always purchase some insurance.

39 posted on 03/07/2014 1:57:57 PM PST by nitzy
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To: nitzy

I think that we were (are?) in the early adoption phase of crypto-currency. It’s been coming for a while now. How many people have a Paypal account for instance? I don’t think any of those people would have a serious problem with using BitCoin. Except for the recent News, I mean.

Personally I’m intrigued by it, and see its potential.


40 posted on 03/07/2014 2:01:47 PM PST by Tallguy
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To: Tallguy

Reading over your post again...I want to point out that Bitcoin can be stored physically. A copy of the private key can be printed off on a piece of paper and stored in a safe. However, the only way to conduct a transaction is through electronic means.


41 posted on 03/07/2014 2:03:32 PM PST by nitzy
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To: Tallguy

Even with the “recent news”, if you don’t keep your Bitcoin on an exchange and make sure that however you store them is secure, they won’t be lost. They may loose value as many on FreeRepublic point out. At this point I would never hold more Bitcoin than I would reasonably spend in a week or two. $50-$75 or so. If the value craters to $25, oh well.


42 posted on 03/07/2014 2:20:29 PM PST by nitzy
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To: ctdonath2

Like most things discussed about Bitcoin on this throw back website your statement is factually incorrect.


43 posted on 03/07/2014 2:45:24 PM PST by TsonicTsunami08
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