bitcoin-satoshi-nakamoto.html
Newsweek has found bit coin inventor nakamoto who is mathamactics wiz and kitbasher!
Alleged creator of Bit Coin at this time.
The whole Bit Coin thing is beyond me. I couldn’t care less. Having said that, I was interested to see in the news yesterday that one of the Bit Coin on line ‘banks’ has just folded because somebody hacked into their own main account and stole $600,000 from them. They said that their account holders money was still safe. Ha! For now maybe.
Pardon me for being a dinosaur, but I keep my money where I know it will be safe! Hail to the dinosaurs![bow][(-D][(-D][2c]
Dave
Here is where the publicity “goes off the rails” for us in the hobby:
“A man of few words who refused to discuss anything beyond the currency or even communicate outside of email, Nakamoto was described by his brother in the Newsweek article as “fickle and has very weird hobbies,” including a penchant for model trains.”
That sentence alone negates any good press we model railroaders get from Rod Stewart’s affection for model railroading.
Great- just great. Thanks a lot, media clowns!
Cedarwoodron
From the Washington Post:
Hours after Newsweek published a massive exposé claiming to reveal the identity of Bitcoin’s mysterious creator, the man reportedly responsible is denying all ties to the virtual currency.
Any one think there’s a chance he’s a site member?
All I know is that some investment people I know, with whom I have no money at all invested with, have said to stay away from the bitcoin thing. That’s all I know about them. Never checked them out.
Mike.
I never heard about BitCoin until about 6 months ago when the US government shut down a site called Silk Road and conficated their assets. Silk Road used Bitcoin to buy and sell stuff. Aparently a lot of illegal activity was going on including the sale of drugs including herion, cocaine etc. Now the US government “owns” more than a million dollars in Bitcoins and is trying to figure out what to do with them. Bitcoin and other ‘elecrtronic currencies’ have a bad rep because of this. One site went bankrupt recently and another was hacked - people lost a lot of money. 1 Bitcoin = slightly over US $1000. The whole thing seems very shady to me
Currency creation and management is actually complicated as hell, but it all boils down to this: a currency works because people trust the claim the currency makes on behalf of its issuer (eg. ‘This note is legal tender’, or ‘this note can be exchanged for ten dollars in gold bullion’ or something similar). Government-issued currencies work because people (grudgingly) accept the financial claims made by the goverments issuing them. No trust=no currency.
Ask yourself this: who’s issuing Bitcoins? Do you trust them?
Yeah, those guys with model trains are weird. Think I’ll go down into my basement and make some more bitcoins with my DCC system.
Enjoy
Paul
Lots of folks say the prices on new models are too high.
Maybe I need to invent a new currency and I could afford just about anything I need?[:D]
Bitcoin is highly controversial and it’s not MRR related.
Just a warning this thread could quickly degrade.
the BBC called him a “model train entusiast”…i don’t understand how that fact makes it into the news or have an impact on the story but whatever.
He denies involvement from what I’m hearing.
And … Mount Gox, a major Bitcoin server was hacked and shut down not long ago - over a half a million dollars worth of bitcoins stolen.