Thread: Everything You Need To Know About Bitcoin, Satoshi Nakamoto

ENTREPRENEURS 3/06/2014 @ 4:25PM 7,339 views

Best Of FORBES: Everything You Need To Know About Bitcoin, Satoshi Nakamoto

Want to know the latest on what’s happening with Bitcoin and Satoshi Nakamoto? FORBES reporters cover the story here:

“It’s been nearly three years since anyone involved with Bitcoin heard from Satoshi Nakamoto, the inventor of the cryptocurrency that has created fortunes and changed lives. Now it seems that Nakamoto has finally been revealed. And many in the Bitcoin community would rather that the godfather of digital money had remained a cipher” — Andy Greenberg. Read Bitcoin Community Responds To Satoshi Nakamoto’s Outing With Disbelief, Anger, Fascination


“In Newsweek, finance editor Leah McGrath Goodman claims to have outed the mysterious creator of the digital currency Bitcoin. The Japanese-American man lives in California and incredibly, is actually named Satoshi Nakamoto. Many in the Bitcoin community have reacted with disbelief and outrage at the “doxxing” of the reclusive creator arguing that the exposure is a massive invasion of privacy. But if true, the article is just an act of great investigative reporting” — Kashmir Hill. Read The Outing of Bitcoin Creator Satoshi Nakamoto Is Brilliant Journalism

http://www.forbes.com/sites/emilycan...toshi-nakamoto

CEO of bitcoin exchange found dead in Singapore

BY SATISH CHENEY
Associated PressMarch 5, 2014 Updated 4 hours ago

SINGAPORE — The American CEO of a virtual currency exchange was found dead near her home in Singapore.

A police spokesman said Thursday that initial investigations indicated there was no suspicion of "foul play" in the Feb. 26 death of 28-year-old Autumn Radtke, meaning officers do not suspect murder.

The spokesman said police found Radtke lying motionless near the apartment tower where she lived.

Police have so far classified the death as "unnatural," which can mean an accident, misadventure, or suicide.

Radtke's company, First Meta, said it was "shocked and saddened by the tragic loss."

First Meta allows users of virtual currencies such as bitcoin to trade and cash out the currencies. It is one of several such exchanges.

The future of bitcoin has been under scrutiny since the collapse of the Mt. Gox exchange in Tokyo last month.

Radtke had worked at other tech companies. A funeral for her was held Wednesday in Hales Corners, Wisconsin, according to Hartson Funeral Home.

Postings on her Facebook page showed her to be a believer in the potential of virtual currencies.

Last month, she linked to an article on entrepreneurs suffering depression, commenting above the link: everything has its price.

http://www.fresnobee.com/2014/03/05/...nge-found.html

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Bitcoin bank Flexcoin shuts down after massive theft

Flexcoin, a site that described itself as the “world’s first bitcoin bank,” has closed after it got hacked and all of the bitcoins it had placed in online storage were stolen, the site recently announced.

Flexcoin was attacked and robbed March 2 of all coins in its “hot wallet”—a term that refers to bitcoin online storage—the site said in an announcement posted to its homepage. The attacker made off with 896 bitcoins, which at current prices across several exchanges would amount to roughly $600,000.

Flexcoin also said it will return to their owners the bitcoins it had put in “cold storage,” which weren’t stolen because they’re held offline.

The company will shut down immediately because it does not have the resources or assets to recuperate from the loss, it said. Flexcoin will work with law enforcement to determine the origins of the attack.

Flexcoin directs affected users to its terms of service. According to that document, Flexcoin transactions were carried out using HTTPS encryption but the company “is not responsible for insuring any bitcoins stored in the Flexcoin system.”

Users should also monitor the company’s Twitter account for updates about the situation, according to Flexcoin. In its most recent Twitter message, posted Tuesday, the company announced it would be “shutting its doors” and provided a link to its homepage.

Flexcoin did not immediately respond to a request for comment.

Flexcoin’s closure comes less than a week after Mt. Gox, a prominent Bitcoin exchange, declared bankruptcy following a hacking attack on its own site.

Just last week, Flexcoin asserted its strength in the Bitcoin industry. “We hold zero coins in other companies, exchanges, etc.,” the site said in a tweet last week. “While the Mt. Gox closure is unfortunate, we at Flexcoin have not lost anything.”

http://www.pcworld.com/article/21044...ive-theft.html

Dorian Satoshi Nakamoto chased by reporters, denies founding Bitcoin

Journalists surround the man believed to be Bitcoin's creator, Dorian Satoshi Nakamoto, as he walks from his home to a car in Temple City. (Allen J. Schaben / Los Angeles Times / March 6, 2014)

• Also
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• Video: How Nakamoto chose which reporter to speak to

By Salvador Rodriguez
March 6, 2014, 1:36 p.m.

Dorian Satoshi Nakamoto, who Newsweek alleges is the creator of Bitcoin, rode around Los Angeles in a car with a reporter while being chased by several other journalists.

Nakamoto emerged from his home and joined a reporter for the Associated Press, according to The Times' Andrea Chang, who relayed her information to Times deputy business editor Joe Bel Bruno.

In a brief exchange with Chang, Nakamoto denied being the creator of Bitcoin.

Before leaving his home in Temple City, journalists had staked themselves outside as the result of a Thursday report by Newsweek.

The magazine alleges that Nakamoto is the man who invented Bitcoin, the popular cryptocurrency that gained widespread adoption in 2013.

Bitcoin was invented in the late 2000s, but the identity of the founder has remained a mystery. Many believe the creator uses "Satoshi Nakamoto" as a pseudonym.

Follow the chase below. If you're reading this on your mobile device, click here for live updates.

http://www.latimes.com/business/tech...#ixzz2vEAG6ZBF

http://www.alipac.us/f9/feds-shut-do...tplace-289031/

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   www.independent.co.uk › Life › Gadgets & Tech‎
   The Independent
   Jan 17, 2014 - At today's exchange rate these coins are worth just under $120 million, making the FBI the holder of the world's largest bitcoin wallet . . .

Mt. Gox Hack Allegedly Reveals Bitcoin Balances, Customer Account Totals

Posted 1 hour ago by John Biggs (@johnbiggs)



Anonymous hackers have defaced Mt. Gox CEO Mark Karpeles’ blog and have uploaded a data dump of customer data that, according to users with accounts on the site, is accurate. A Reddit user created an Excel spreadsheet [mirror] of anonymized user accounts with balances and many current Mt. Gox users have found their balances present.

The text of the post reads [NSFW]:
*** SAVE THIS POST, MIRROR THE FILES, REPOST, SHARE AND KEEP THIS DATA AVAILABLE ***http://blog.magicaltux.net/wp-conten...ox2014Leak.zip
http://89.248.171.30/MtGox2014Leak.zip

First and foremost, this is not Mark Karpeles. **** that bitch-titted mother****er.

It’s time that MTGOX got the bitcoin communities wrath instead of Bitcoin Community getting Goxed. This release would have been sooner, but in spirit of responsible disclosure and making sure all of ducks were in a row, it took a few days longer than would have liked to verify the data.

Above you will finding download link and a mirror used without asking from Mark Karpeles very own blog.magicaltux.net.

Included in this download you will find relevant database dumps, csv exports, specialized tools, and some highlighted summaries compiled from data. Keeping in line with ****ing Gox alone, no user database dumps have been included.

Repost and share this info before it’s gone. Lots of people, including us, lost money and coins. Upvote this post.

We stole no bitcoins. There were none to steal. If you want to donate, you can keep us full of pizzas and beers by sending coins here, 1859rayqN1X7DYjD1BrAHm4vaQxoUhhzsN .
Balance SUM for ALL USERS by currency.
[][][][][][][][][][][][][][][][][][][][][][][][][][][][][][][]
Currency: AUD Balance: 924,124.65121
Currency: BTC Balance: 951,116.21905382 <– That fat **** has been lying!!
Currency: CAD Balance: 320,184.36558
Currency: CHF Balance: 99,487.07308
Currency: CNY Balance: 297,775.78994
Currency: DKK Balance: 112,264.56207
Currency: EUR Balance: 5,634,625.59531
Currency: GBP Balance: 921,892.96793
Currency: HKD Balance: 740,519.14894
Currency: JPY Balance: 384,885,150.13700
Currency: NOK Balance: 91,346.00305
Currency: NZD Balance: 58,224.95320
Currency: PLN Balance: 1,645,194.67364
Currency: RUB Balance: 551,162.54477
Currency: SEK Balance: 15,335.84383
Currency: SGD Balance: 43,193.59706
Currency: THB Balance: 666,464.33497
Currency: USD Balance: 30,611,805.67481
[][][][][][][][][][][][][][][][][][][][][][][][][][][][][][][]
Total BTC Deposits: 19,065,241.307202
Total BTC Withdrawl: 18,563,466.149383
————————————
BTC Difference: 501,775.157819
[][][][][][][][][][][][][][][][][][][][][][][][][][][][][][][]

The most important number, obviously, is the 951,116.21905382 balance. As you recall, Mt. Gox filed for bankruptcy while stating a 850,000 BTC loss.

This would suggest Karpeles’ estimates were off by a large margin. Whether all of this is accurate or not is an entirely different manner. What the leak does show us is how easy it was to grab nearly all of Mt. Gox’s user data as well as how hardened Karpeles blog was. Furthermore, the files contain the app Mt. Gox admins used to manage transfers. A screenshot appears below.

Who hacked Mt. Gox? The leak contains some clues. A visit to the above-mentioned mirror brings a link to the zip file and a note: “I hated working with you. You deserve everything you get for what you did.

http://techcrunch.com/2014/03/09/mt-...tals/?ncid=rss

Mt.Gox finds 200,000 bitcoins in old wallet

By Charles Riley @CRrileyCNN March 21, 2014: 2:19 AM ET


A protester outside Mt.Gox headquarters in Tokyo.

HONG KONG (CNNMoney)

Embattled exchange Mt.Gox said Friday that it has found 200,000 bitcoins in a "forgotten" digital wallet -- a haul worth $116 million at current prices.

Mt.Gox CEO Mark Karpeles said in a statement that the bitcoins had been uncovered in an old-format wallet that was thought to be empty. Bitcoin wallets allow users to store the digital currency and execute transactions.


"On March 7, 2014, Mt.Gox Co., Ltd. confirmed that an old-format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC," the statement said.

Karpeles said that the discovery was reported to lawyers on March 8. The bitcoins were later moved to "offline" wallets.

Mt.Gox was one of the world's largest Bitcoin exchanges until last month, when it stopped investors from withdrawing money and blamed the disruption on technical issues and cyber attacks.

The Japan-based company then filed for bankruptcy in Tokyo and the U.S., with debts totaling $64 million.

Related: How Mt.Gox went down


Why Bitcoin will recover from Mt.Gox

At the time of its closure, Mt.Gox said that it was unable to locate 850,000 bitcoins, the vast majority of which belonged to customers. The discovery reduces the number of lost bitcoins to 650,000, but also raises questions about what really happened to the missing currency.

While the search for the missing bitcoins will continue, many investors harbor little hope that all will be recovered. Japanese authorities had not regulated the exchange, and no deposit insurance was offered.

Related: 'I lost money with Mt.Gox'

Responding to the wave of doubt generated by the exchange's failure, several other exchanges and digital wallet providers have sought to reassure investors.

"This tragic violation of the trust of users of Mt.Gox was the result of one company's abhorrent actions and does not reflect the resilience or value of Bitcoin and the digital currency industry," an industry group said in February.

http://money.cnn.com/2014/03/21/tech...html?hpt=hp_t3

IRS says bitcoin will be taxed like property

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