On Nakamoto: the Mainstream Media Sucks

I was appalled by Newsweek’s article claiming they had found the founder of Bitcoin– an old model train enthusiast in California.

There was so much stupidity in this, previous, and subsequent reportings that I decided to dedicate an article to media stupidity.

Let me first quote Goodman to clear up just how unlettered she is on the topic of Bitcoin.

Even so, Bitcoin is vulnerable to massive theft, fraud and scandal, which has seen the price of Bitcoins whipsaw from more than $1,200 each last year to as little as $130 in late February.

Where the hell did you get the $130 from?

There’s only one place where Bitcoin has dropped to $130 (it’s currently at $600, likely in light of Goodman’s stupidity), and that’s on a dead exchange called Mt Gox.

Someone who can’t identify the current price of Bitcoin has no right to be making such pretension to finding the most elusive character in Bitcoin.

Let’s follow up by pointing out that the real Bitcoin founder came out to say that he is not Dorian Nakamoto (the poor guy in California).

Not Nakamoto!

This should clear up that Goodman was wrong. But you know what the media are doing at this point? Celebrating that they found Satoshi! They haven’t even noticed this! They haven’t even noticed that Mt Gox doesn’t represent current Bitcoin prices!

One of the things that characterizes the mainstream media is that outside of domestic issues, they usually have no idea what they’re talking about. (And domestic issues too, sometimes questionable.)

Remember Mt Gox? The mainstream media actually believed it was hackers. (Head over to a site with people who know and cover Bitcoin, like Falkvinge, and you’ll get an idea fairly quickly about how preposterous that idea is.)

Next, they assume that a cryptography expert uses his real name online, and attempt to chase him down. When they find a suspect, they didn’t stop to think that hundreds of cryptography experts have NOT made any progress on finding a person they worked with. Bitcoin cofounders have no idea who Satoshi is, and never have. They don’t even know if Satoshi is one person. (But they have discovered that he “sleeps” in the Eastern or Central Time Zone. I can see the headlines: “RUSSIAN STUDENTS KNOW MORE US GEOGRAPHY THAN US JOURNALISTS”)

And most golden of all: the media has literally brainwashed us into thinking that Putin is invading Ukraine and trying to reunite the Soviet Union. You can see one of my previous posts, but in short, Crimea wants to secede to Russia and Russia is welcoming them. What a joke.

Either the media is completely retarded or actually is trying to make everyone stupid. Or maybe it’s just Newsweek that would publish something this preposterous.

Don’t trust the mainstream. I’m not saying this in a hipster way, I’m saying this because they lie. Crimea is not being overtaken by imperious Russian soldiers, and the poor guy in California is not Satoshi Nakamoto. But if you subscribe to the mainstream, you will think otherwise.

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2 Comments

  1. Pingback: Pleasure Saucer Show #24: Hostful-A-Go-Go | Johnny Lemuria

  2. Pingback: Mt Gox: 530,000 MORE Bitcoins Still Exist! | Circular Deal

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