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Regarding your point about paranoia: Here's an example of people in Ecuador executing a father and son for a mere $20,000: http://www.reddit.com/r/MorbidReality
by sillysaurus3 13y ago
Regarding your point about paranoia: Here's an example of people in Ecuador executing a father and son for a mere $20,000: http://www.reddit.com/r/MorbidReality/comments/1zktth/quito_robbery_devolved_into_two_cold_blooded/ http://www.reddit.com/r/MorbidReality/comments/1zktth/quito_...
This is what the Nakamoto family now has to worry about. It wasn't a random killing. There were at least 6 people arrested in connection with the murders. Apparently the robbers had people inside the bank who they were paying to alert them whenever someone withdrew large amounts of cash.
People get killed over money a lot. It's probably not paranoia. I would recommend you watch the video to understand the gruesome nature of what Nakamoto now has to live with.
- rickyc091 13y agoThere are plenty of unreported ransoms out there... I just did a quick google and found this. http://www.therichest.com/luxury/most-expensive/10-most-expensive-ransoms-ever-paid/ http://www.therichest.com/luxury/most-expensive/10-most-expe...
- bertil 13y agoI understand the fear, but the article seems to clearly say that he has less than any aging engineer -- I’d say with his actual name out there, he was a target, but no more. If anything it ties him to Federal security people, who tend to scare random Ecuadorians.
- acjohnson55 13y agoA lot of people have that much money in the US. SN might have to actually take precautions appropriate of someone of his net worth. Boo hoo.
- orclev 13y agoExcept his actual net worth is probably a fraction of what his theoretical net worth is. It's assumed for instance that he still has access to all those bitcoins, but something could have happened to that wallet. There's also the difficulty of actually converting those coins into something the average business will accept. It's like suggesting that handing someone a billion dollars in un-vested bonds suddenly makes them a billionaire, but in reality there not really any richer currently than they were before, although in some theoretical future they might be (assuming they hang onto the bonds till they vest and can cash them in).
- acjohnson55 13y agoFair point. It's a tricky situation. But, hey, sometimes, life hands us lemons. I'm sure there are many reasonable solutions. Perhaps not his preferred solution, but solutions nonetheless.
- bitJericho 13y agoHis cashing in bitcoins could destroy Bitcoin XD
- arrrg 13y agoYeah, and people get robbed and killed for a few hundred dollar all the time. So what? That’s just a reality. I don’t really see the connection.
- sillysaurus3 13y agoThis wasn't a random robbery though. This was a systematic killing involving dirty banking employees who sent people to hunt them down. The connection is that $20,000 is a ton of money in Ecuador, and Nakamoto has a ton of money, so Nakamoto now has to worry about being hunted.
- scott_s 13y agoExcept that Nakamoto lives in LA.
- sillysaurus3 13y agoIsn't Nakamoto the only person who lives in LA who also controls >10% of a currency?
- scott_s 13y agoYes, but he's not the only person in LA with a net worth that large. And people who hold a large amount of stock in a company are in a similar situation.
- ceejayoz 13y ago> And people who hold a large amount of stock in a company are in a similar situation. Initiate a Bitcoin transfer at the same time as a stock sale followed up by a bank transfer from your brokerage and let us know which one finishes faster. Plus, the brokerage and the bank can choose to hold and/or reverse your transactions, for reasons like "hmm, we should probably see if Bill Gates really meant to sell all his Microsoft shares..." There are not many people sitting on tens/hundreds of millions of dollars in a format that you can store in your house and send irretrievably to a guy in Eastern Europe in an instant.
- whyenot 13y agoNakamoto doesn't live in Quito, Ecuador.
- mzs 13y agohttp://www.lapdonline.org/southeast_news/news_view/22885 http://www.lapdonline.org/southeast_news/news_view/22885 http://en.wikipedia.org/wiki/Marion_Parker http://en.wikipedia.org/wiki/Marion_Parker http://www.latimes.com/news/nationworld/world/latinamerica/la-na-drug-kidnappings12-2009feb12,0,544773.story http://www.latimes.com/news/nationworld/world/latinamerica/l...
- ceejayoz 13y agoCounterpoint: the potential reward for bagging him isn't $20k.
- discardorama 13y agoMeanwhile Bill Gates, who is worth 200X more than SN, continues to waltz around in public.
- rl12345 13y agoBill Gates doesn't have virtually 100% of his fortune actually stored in his house, does he?
- seren 13y agoIf by some extortion means, you manage to get a few percent of Microsoft shares, what are you going to do ? Sit at the board ?
- judk 13y agoBill Gates spends millions of dollars per year on personal security.
- anigbrowl 13y agoSo? Nakamoto can spend money on security too if he feels like it. As a cryptographer he's surely familiar with the adage that 'tehre's no security in obscurity,' and I'm only surprised it's taken this long to ID him.