its definitely unethical to reveal the names of rich ppl because they will obviously be murdered
― socki (s1ocki), Thursday, 6 March 2014 15:37 (ten years ago) link
writing a person of public interest doing business in his own name is not blowing up anyones spot
― max, Thursday, 6 March 2014 16:02 (ten years ago) link
that being said its a weirdly sloppy and underinformed article. i assume they were rushing it for the first print issue
Of course, none of this puts to rest the biggest question of all - the one that only Satoshi Nakamoto himself can answer: What has kept him from spending his hundreds of millions of dollars of Bitcoin, which he reaped when he launched the currency years ago? According to his family both he - and they - could really use the money.
― max, Thursday, 6 March 2014 16:04 (ten years ago) link
wait what's wrong with that?
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:05 (ten years ago) link
he didn't "reap" it years ago, that's the current value
― sleeve, Thursday, 6 March 2014 16:08 (ten years ago) link
"...Mt. Gox, a former Magic: The Gathering card exchange that morphed into Bitcoin’s largest trading floor..."I did not know this.― nickn, Tuesday, March 4, 2014 7:44 PM (2 days ago) Bookmark Flag Post Permalinkmind was blown when i realized mt gox was an acronym for magic the gathering online xchange― PSY talks The Nut Job (forksclovetofu), Tuesday, March 4, 2014 9:39 PM (2 days ago) Bookmark Flag Post Permalink
I did not know this.
― nickn, Tuesday, March 4, 2014 7:44 PM (2 days ago) Bookmark Flag Post Permalink
mind was blown when i realized mt gox was an acronym for magic the gathering online xchange
― PSY talks The Nut Job (forksclovetofu), Tuesday, March 4, 2014 9:39 PM (2 days ago) Bookmark Flag Post Permalink
― Nhex, Thursday, 6 March 2014 16:08 (ten years ago) link
they are not
― sleeve, Thursday, 6 March 2014 16:09 (ten years ago) link
― sleeve, Thursday, March 6, 2014 11:08 AM Bookmark Flag Post Permalink
Oh I see, I guess it's just unclear writing -- I took it as meaning he reaped the bitcoin years ago, which is now worth hundreds of millions of dollars, not that he could have sold it years ago for hundreds of millions.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:11 (ten years ago) link
please tell me you guys are pulling my leg― Nhex, Thursday, March 6, 2014
― PSY talks The Nut Job (forksclovetofu), Thursday, 6 March 2014 16:17 (ten years ago) link
people always mining and reaping bitcoin. just grab some bitcoin imo.
― 4. Nels Cline and My Uncle Eat Soup at Panera Bread (3:37) (Sufjan Grafton), Thursday, 6 March 2014 16:21 (ten years ago) link
i need a bitcoin convenient as gogurt. i don't have time to reap and mine.
― 4. Nels Cline and My Uncle Eat Soup at Panera Bread (3:37) (Sufjan Grafton), Thursday, 6 March 2014 16:22 (ten years ago) link
my mind is also blown regarding that Magic revelation. wowzers!
― Nhex, Thursday, 6 March 2014 16:24 (ten years ago) link
not that he could have sold it years ago for hundreds of millions.
the other important point is that he couldn't do that now either
― frogbs, Thursday, 6 March 2014 16:26 (ten years ago) link
Well no, but he could presumably sell off a small portion of it and his family would be more than set.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:27 (ten years ago) link
He would just need to dribble it out, the same way institutional investors often sell off large, semi-illiquid blocks of stock -- a little at a time. Unless I'm missing something here.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:28 (ten years ago) link
given that btc trading volume is way down I do wonder how much $$$ you could get out right now without crashing the whole thing. Satoshi could certainly get out enough to change his life but certainly nothing in the realm of what's mentioned in the article. the fact that he hasn't is rather curious (like the Gox thing, you half-wonder if he lost his private key?)
― frogbs, Thursday, 6 March 2014 16:32 (ten years ago) link
From the description I could kind of see him just being weird and eccentric and constipated about the whole thing. Maybe he doesn't like the way bitcoin has gone and doesn't want to profit from it or something.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:33 (ten years ago) link
frogbs otm, just a weird question to leave hanging without pointing out that converting btc to real dollars at that rate is impossible and would destroy the market
― max, Thursday, 6 March 2014 16:34 (ten years ago) link
But he could easily sell off a mil or two without causing a blip, I'd think. Why not just do that?
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:34 (ten years ago) link
(a million united states of amerikkka fiat dollars worth I mean)
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:35 (ten years ago) link
has anyone been able to do that?
― frogbs, Thursday, 6 March 2014 16:38 (ten years ago) link
Aren't there still Winklevosses etc. out there willing to pony up real cash?
― Nhex, Thursday, 6 March 2014 16:42 (ten years ago) link
Wau @ the magic the gathering reveal
― gimme the lute (upper mississippi sh@kedown), Thursday, 6 March 2014 16:43 (ten years ago) link
― frogbs, Thursday, March 6, 2014 11:38 AM Bookmark Flag Post Permalink
I don't understand why it would be difficult -- I mean just watching the trades here: https://bitcoinity.org/markets, it seems pretty clear that there's enough volume to do that, if not all in one shot, then gradually over a few days or weeks or months at worse.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:47 (ten years ago) link
He doesn't have to sell it all to one dude, that's not how it works.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:48 (ten years ago) link
what about a bro?
― Prostitute Farm Online (Bananaman Begins), Thursday, 6 March 2014 16:49 (ten years ago) link
fyi, the numbers are "mBTC" not bitcoin, so 49,232 = 49 and change bitcoins, not 49 thousand. Still, that's like $30,000 in a single trade, a few minutes ago.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 16:49 (ten years ago) link
well we do know that a lot of people trade them back and forth to manipulate the price. I've heard of ppl who 'cashed out' at a total of $20k or so which is nice but I have yet to hear of the early miners who got six figures out of it. not saying they don't exist, just that I don't know if the market could handle say someone trying to get a million USD out of it
― frogbs, Thursday, 6 March 2014 17:05 (ten years ago) link
https://bitcointalk.org/index.php?topic=413349.0illuminating
― PSY talks The Nut Job (forksclovetofu), Thursday, 6 March 2014 17:06 (ten years ago) link
xp they quote a guy in the article who said he bought "a nice apartment" with the money he cashed out of bitcoin.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 17:07 (ten years ago) link
Intelligent people "cash out" gradually as the price increases, and do things like buy lambos http://i.imgur.com/MkuABq5.gif
― death and darkness and other night kinda shit (crüt), Thursday, 6 March 2014 17:09 (ten years ago) link
"a man potentially worth 1000 million dollars,"
or worth a billion dollars?
I tell you now is the time to buy bitcoin yo - dont be a FOOL!!
― Brian Eno's Mother (Latham Green), Thursday, 6 March 2014 17:09 (ten years ago) link
you can xp to things that look like onion articles or whatever but i don't see how much further down the bitcoin rabbithole you can go than this; url says it all
http://blogs.marketwatch.com/thetell/2014/03/05/winkelvoss-twins-pay-richard-branson-in-bitcoins-for-virgin-galactic-tickets/
― PSY talks The Nut Job (forksclovetofu), Thursday, 6 March 2014 17:09 (ten years ago) link
The Japanese pronunciation of "Gox" sounds quite similar to an extremely vulgar phrase meaning "gulping down shit". Just putting that out there for y'all.
― Jersey Al (Albert R. Broccoli), Thursday, 6 March 2014 17:19 (ten years ago) link
whoops, I meant to post that in the real thread, not this lamestream NPR-ready one.
― Jersey Al (Albert R. Broccoli), Thursday, 6 March 2014 17:22 (ten years ago) link
I agree that obviously magic tha gathering online exchange was nto teh best place to spark the internet virtual currency revolution
it was what Kurzewil would call the "false pretender"
http://www.kurzweilai.net/the-future-of-libraries-part-1-the-technology-of-the-book
― Brian Eno's Mother (Latham Green), Thursday, 6 March 2014 17:22 (ten years ago) link
Not exactly the best way to lend an air of seriousness to your project, in any case.
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 17:53 (ten years ago) link
newsweek article doesnt seem that convincing in describing either this person's theoretical-political motive or suggest any specific cryptography background (all the prior shrill detective pieces about this suggested an academic background)
as it is there is someone of a fairly common japanese name who might not like the govt and works with computers? has anyone more adept that newsweek adduced more evidence?
― Thanks in anticipation of your opinions (nakhchivan), Thursday, 6 March 2014 18:07 (ten years ago) link
well he also implicitly claims to be the guy by saying he's "no longer" involved with it or whatever, but it's definitely possible that he's pulling their legs
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 19:11 (ten years ago) link
I do think that concerns about his safety are not unwarranted. I think one of the weaknesses of Bitcoins is that they are a nice fat target for thieves, kidnappers, extortionists, etc., do to the ease of instantly transferring enormous sums and the irreversibility of transactions. It is kind of like having $100 million in cash in your house.
― o. nate, Thursday, 6 March 2014 19:35 (ten years ago) link
the bitcoin world is giving me weird crossover vibes with that game that came out recently castle doctrine
― anonanon, Thursday, 6 March 2014 19:41 (ten years ago) link
i'm just curious, how much actual $$$ is there in the bitcoin ecosystem right now ?
― frogbs, Thursday, 6 March 2014 20:06 (ten years ago) link
I do think that concerns about his safety are not unwarranted. I think one of the weaknesses of Bitcoins is that they are a nice fat target for thieves, kidnappers, extortionists, etc., do to the ease of instantly transferring enormous sums and the irreversibility of transactions. It is kind of like having $100 million in cash in your house.― o. nate, Thursday, March 6, 2014 11:35 AM (28 minutes ago)
― o. nate, Thursday, March 6, 2014 11:35 AM (28 minutes ago)
I bet RockStar/GTA gamedevs are sad that they didn't weave a Bitcoin thread into their game fabric.
― Jersey Al (Albert R. Broccoli), Thursday, 6 March 2014 20:06 (ten years ago) link
How do you define "how much actual $$$ is there in the bitcoin ecosystem"?
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 20:07 (ten years ago) link
"Meanwhile, bitcoin has lost just 3% in the last 24 hours, according to data from CoinMarketCap, down to $649 per coin and with a market cap of just under $8.1bn."
― anonanon, Thursday, 6 March 2014 20:09 (ten years ago) link
i didnt think that question through
what i meant was, if everyone were to 'cash out', how much money would there be that was pumped into BTC for them to get back. of course so much of the same money has gone back and forth and if everyone wanted out the value would obviously be $0 so it's a dumb question
― frogbs, Thursday, 6 March 2014 20:09 (ten years ago) link
― james franco tur(oll)ing test (Hurting 2), Thursday, March 6, 2014 8:07 PM (49 minutes ago) Bookmark Flag Post Permalink
thought this said 'egosystem,' didn't blink
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Thursday, 6 March 2014 21:00 (ten years ago) link
I wish you could sell chickens and get bitcoins
― Brian Eno's Mother (Latham Green), Thursday, 6 March 2014 21:13 (ten years ago) link
I have 0.04 BTC, please send chickens
― American Fear of Pranksterism (Ed), Thursday, 6 March 2014 21:17 (ten years ago) link
http://www.latimes.com/business/technology/la-fi-tn-bitcoin-founder-la-chased-20140306,0,3692933.story#axzz2vDojDoCt
― Brian Eno's Mother (Latham Green), Thursday, 6 March 2014 21:50 (ten years ago) link