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I am enjoying the spectacle and irony of the crypto-currency media being "hacked" by someone who barely understands the basics of the very thing that underpins

by cubano 10y ago

I am enjoying the spectacle and irony of the crypto-currency media being "hacked" by someone who barely understands the basics of the very thing that underpins the system itself. One of the very few things that Bitcoin meaningfully has accomplished as an ecosystem is a world-readable repository of reasonably-well-attested-to-keys. Yeah no shit.

empath75 10y ago
I don't think anyone in the 'crypto-currency media' believes that this guy is Satoshi. The mainstream media that covers bitcoin seems to have been conned, though.
- Karunamon 10y ago
  These variations on a "we found Satoshi for reals this time" story seems to be on a ~6 month cycle. It happens, it gets debunked, it fades, it happens again.
  - Bartweiss 10y ago
    It's striking that they got burned by the same guy again though. Craig Wright came through as a fake Satoshi a bit over a year ago: http://hackingdistributed.com/2015/12/10/how-to-spot-satoshi/ http://hackingdistributed.com/2015/12/10/how-to-spot-satoshi...
ChemicalWarfare 10y ago
lol +1 on the irony. ecosystem-wise I think it's a bit too harsh :) Bitcoin's p2p network does work (not without hiccups of course) - if I wanted to I could send btc to someone in say Brazil or Malaysia and it WILL work after all. And in some respects it will work smoother than trying to send fiat there.
- daveguy 10y ago
  You can use western union to send money all around the world without anyone having any accounts on a blockchain or any accounts in an exchange necessary to turn bitcoin into fiat that can actually use in the destination country. I would say it is cheaper to send bitcoin, and maybe smoother for two regular users of bitcoin (and who shop online at bitcoin accepting businesses). However, that description applying to any two people is extraordinarily rare. It is still definitely smoother, but more expensive, to send fiat. The infrastructure is already in place.
  - ChemicalWarfare 10y ago
    I'm not saying bitcoins ecosystem is more evolved than fiat, merely pointing out that it does exist beyond the 'key database' factor as it does allow transfer of value between counterparties around the world. Whether the actual experience of that transfer is 'better' than fiat (WU, Swift, etc) is a different story and yes that would depend on the parties involved.
  - aianus 10y ago
    > I would say it is cheaper to send bitcoin, and maybe smoother for two regular users of bitcoin (and who shop online at bitcoin accepting businesses). In many places it's easier to sign up for a Bitcoin exchange from your couch than to drive to Western Union. I can personally vouch for the US, Canada, and Thailand, where I've had experience with it.

by cubano 10y ago

empath75 10y ago

I don't think anyone in the 'crypto-currency media' believes that this guy is Satoshi. The mainstream media that covers bitcoin seems to have been conned, though.

Karunamon 10y ago
These variations on a "we found Satoshi for reals this time" story seems to be on a ~6 month cycle. It happens, it gets debunked, it fades, it happens again.
- Bartweiss 10y ago
  It's striking that they got burned by the same guy again though. Craig Wright came through as a fake Satoshi a bit over a year ago: http://hackingdistributed.com/2015/12/10/how-to-spot-satoshi/ http://hackingdistributed.com/2015/12/10/how-to-spot-satoshi...

ChemicalWarfare 10y ago

lol +1 on the irony. ecosystem-wise I think it's a bit too harsh :) Bitcoin's p2p network does work (not without hiccups of course) - if I wanted to I could send btc to someone in say Brazil or Malaysia and it WILL work after all. And in some respects it will work smoother than trying to send fiat there.

daveguy 10y ago
You can use western union to send money all around the world without anyone having any accounts on a blockchain or any accounts in an exchange necessary to turn bitcoin into fiat that can actually use in the destination country. I would say it is cheaper to send bitcoin, and maybe smoother for two regular users of bitcoin (and who shop online at bitcoin accepting businesses). However, that description applying to any two people is extraordinarily rare. It is still definitely smoother, but more expensive, to send fiat. The infrastructure is already in place.
- ChemicalWarfare 10y ago
  I'm not saying bitcoins ecosystem is more evolved than fiat, merely pointing out that it does exist beyond the 'key database' factor as it does allow transfer of value between counterparties around the world. Whether the actual experience of that transfer is 'better' than fiat (WU, Swift, etc) is a different story and yes that would depend on the parties involved.
- aianus 10y ago
  > I would say it is cheaper to send bitcoin, and maybe smoother for two regular users of bitcoin (and who shop online at bitcoin accepting businesses). In many places it's easier to sign up for a Bitcoin exchange from your couch than to drive to Western Union. I can personally vouch for the US, Canada, and Thailand, where I've had experience with it.