CCN Week in Review: Fake Satoshi Nakamoto, BTC Price Rise, Karpeles’ Lies, and More

CCN Week in Review: Fake Satoshi Nakamoto, BTC Price Rise, Karpeles' Lies, and MoreThis week on CCN, we learned that Newsweek journalist Leah McGrath Goodman thinks she found the real Satoshi Nakamoto, that the price of Bitcoin is finally going back up, that Mark Karpeles’ lies are nothing new, and more. Here are the biggest stories this week (3 March – 9 March) in case you missed them in video and article form.

[youtube http://www.youtube.com/watch?v=Uf4y0W5IVn0?rel=0&w=560&h=315]

Is This the Face Behind Bitcoin? (Probably Not)

Dorian Prentice Satoshi Nakamoto
Dorian Prentice Satoshi Nakamoto – AP Photo/Damian Dovarganes

Newsweek surprised everyone with a startling announcement – they had discovered the real identity of Satoshi Nakamoto, creator of Bitcoin. Or at least, that’s what they believe. According to the reporter, Leah McGrath Goodman, the elderly man pictured above is Bitcoin’s founder. However, most of the community finds this difficult to believe. First of all, “Satoshi Nakamoto” is most likely a pseudonym; it’s unlikely that someone who wants to stay anonymous would use his/her real name. Furthermore, Goodman’s evidence is circumstantial at best, as she cites vaguely worded quotations from a man whose English is not so great (compare that to the flawless grammar in Nakamoto’s original Bitcoin paper). Furthermore, Goodman was lambasted for “doxxing” Dorian’s family, invading his privacy, and publishing pictures of his house. Dorian Nakamoto soon reported himself that he never had anything to do with Bitcoin, and the real Satoshi Nakamoto broke his long silence by denying being Dorian Nakamoto. Goodman still seems to believe that Dorian is the creator of Bitcoin, but most of the community is dismissing the “Newsweak” article.

Bitcoin is Recovering

Image courtesy of Brainless Tales. At least I hope they'll be courteous about me nicking it.
Bitcoin price in a nutshell

Bitcoin price is finally starting to rise again after the Mt. Gox disaster. The failed exchange brought the price down to the low $500’s, but it is currently ~$630 (at the time of this post). Gordon Hall has a detailed analysis of the current price trend.

Mark Karpeles’s Lies are Nothing New

Mark Karpeles MtGox
Mark Karpelès

Mt. Gox recently announced civil rehabilitation proceedings – a plan to reimburse those affected by the exchange’s collapse. However, the sincerity of Karpeles’ intentions seems questionable at best, considering the fact that Karpeles has a history of lying and cheating. In 2010, a young man [name redacted] decided to take on a business project with Karpeles, who offered to do the website development. However, Karpeles failed to deliver on his promise yet he straight up cashed in the money.

New GPUs for Mining

AMD Pirate Islands
AMD will use HBM with their upcoming Pirate Islands chips

AMD’s upcoming “Pirate Island” GPUs will be using a new memory module called High Bandwidth Memory (HBM). These GPUs promise a 65% increase in speed with a 40% decrease in power consumption, something that miners can definitely look forward to.

That’s it for this CCN Week in Review, where every Sunday we feature our top stories of the week.