this post was submitted on 21 Dec 2024

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276

Man who claims he invented bitcoin faces prison after filing $1.1 trillion suit (arstechnica.com)

submitted 4 months ago by [email protected] to c/[email protected]

23 comments fedilink hide all child comments

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[–] [email protected] 121 points 4 months ago (1 children)

Damn. I just buy my suits off the rack. Way cheaper.

[–] [email protected] 38 points 4 months ago (2 children)

He should go to prison. Filing a suit that expensive could permanently damage it

[–] [email protected] 13 points 4 months ago (1 children)

I've been saying it for years. Shuits should not be filed only shelved.

[–] [email protected] 4 points 4 months ago (1 children)

Any tips on filing suits? Should I be using a metal or wood file? How long to file for?

[–] [email protected] 2 points 4 months ago

No no no. No filing I said. Use a metal rasp or sand paper. Start with a low grit and work your way higher. Finish with some polishing paste and a nice buffing wheel.

[–] [email protected] 5 points 4 months ago

At least he didn't defile it.

[–] [email protected] 73 points 4 months ago (2 children)

Looks like he won a stupid prize

[–] [email protected] 11 points 4 months ago

What I don't like about our time is that it's interesting in some baroque way. Lots of gruesome shit happens, Barry Lyndons occasionally float up, but in general it seems boring and depressing.

I guess it's winter.

[–] [email protected] 8 points 4 months ago

Yea

[–] [email protected] 55 points 4 months ago (2 children)

How frustrating would it be to be this guy if his claims were true.

[+] [email protected] 69 points 4 months ago* (last edited 3 days ago) (1 children)

[deleted]

[–] [email protected] 32 points 4 months ago (2 children)

I don't think this guy is Satoshi but no Bitcoin wallets known to belong to Satoshi have been active since their initial transactions. I think it's likely that the keys for those wallets have been lost. So I don't think the inability to sign these messages proves that he's not Satoshi, the fraud does though.

[–] [email protected] 11 points 4 months ago (2 children)

I think it's likely that the keys for those wallets have been lost.

I think that's entirely possible. But I think it's also quite likely that those wallets are intentionally being left alone. I think there are legitimate fears that revealing the identity of Satoshi would destabilize the Bitcoin economy (as well as make that person a serious target). Personally, if I were Satoshi, I would try to keep my identity secret.

Also, if you were to ask me, i'd say that this guy isn't Satoshi because in all likelihood, Satoshi is Nick Szabo.

[–] [email protected] 6 points 4 months ago (2 children)

I've often heard about these legitimate fears, though why would revealing Satoshi's real identity destabilise the bitcoin economy/make him a target?

Genuinely unsure.

[–] [email protected] 6 points 4 months ago

Because there is a huge number of bitcoins in the wallets believed to belong to Satoshi.

A lot of the people in the bitcoin markets just assume that those wallets will remain dormant indefinitely, and if there is any activity on them it might unnerve enough of them to cause a collapse.

[–] [email protected] 2 points 4 months ago

When the Bitcoin network first started, only Satoshi was mining coins. He released the white paper, he talked about it publicly and encouraged people to try it, but it took a while for other nodes to join up and start mining. He could hold half the coins mined in the first 6 months. (If it were half the coins in the first 6 months, that would be 1.3 million coins, currently worth $129 billion). That is a potentially destabilizing amount of money.

[–] [email protected] 2 points 4 months ago (1 children)

I pretty much see any person claiming to be nakamoto wether the claim is legitimate or not to be treated exactly as they are treating this guy. Governments In collusion with the military and prison industry profiteers who control all the major financial institutions want to do whatever they want with BTC’s blockchain technology and arent about to let any pesky copyright claims become a hindrance regardless of the validity or lack thereof.

[–] [email protected] 2 points 4 months ago

Nobody who understands the technology wants it. Blockchain is an extraordinarily wasteful and buggy solution to the distributed-ledger problem, with some appallingly bad privacy problems (pseudonimity is not anonymity). And the other technical features of the bitcoin implementation are even less novel.

The only banks getting involved with cryptocurrency are doing it to get a piece of the grift. Governments have a legitimate interest in preventing money-laundering, and we've seen what happens when unprincipled people with money can pay off whoever they like. So your paranoia is misplaced.

[–] [email protected] 23 points 4 months ago

Pretty sure they caught him in a lie or two

[–] [email protected] 12 points 4 months ago

[–] [email protected] 10 points 4 months ago

Free Fake-Satoshi