A major bitcoin exchange has gone bust

[Gigas]

Forget all that nonsense and keep your money in your pocket.

Breaking news!

Buy gold and silver for when the collapse comes.

Ya, ok, good, but, just how do you spend gold and silver when buying a loaf a bread or can a soup or gas when the SHTF and nothing works.

Sell your gold and silver for cash.

Ok, hows that, the mental mass media shillbot Archons are telling you to buy gold and silver but now, at the same time, they say sell it. Than the mass media shillary Archons are telling you to invest in bit coins and be safe when the incoming collapse breaks out.

Really, do all this and keep going round and round till your dizzy and have constant episodes of anxiety attacks the worlds coming to an end and you failed to cash out your metals and never bought metals and was to late investing in bit coins cause now thats collapsing and all your friends got some but not you. WHEW!, this worlds maddening.

OKYO (AP) — A major bitcoin exchange has gone bust after secretly racking up catastrophic losses, other virtual currency companies said Tuesday — a potentially fatal blow for the exotic new form of money.

http://www.mail.com/scitech/news/2675392-major-bitcoin-exchange-to-insolvent.html#.23140-stage-hero1-4

[Gigas]

Why be surprised. John Corzine pulled off a similar tactic with MF global. Its so fine, just no tellin where the money went.

I love it how the sheeple are herded. Invest, buy, sell, the collapse is just around the next corner.

The company said it lost 750,000 bitcoins belonging to customers, and an additional 100,000 of its own bitcoins. Those bitcoins today would be worth more than $450 million.

Mt. Gox also said it has debts of about $63.6 million.

The bankruptcy filing comes at the end of a tumultuous week for Mt. Gox and the bitcoin community, which saw the credibility of the virtual currency take a big hit.

On Monday, Mt. Gox, once the largest bitcoin exchange, appeared to shut down after pausing bitcoin withdrawals earlier in the month. What at first seemed to a be glitch turned out to be much worse as the company discovered that somehow hackers had been stealing bitcoins from its system for years.

http://www.latimes.com/business/technology/la-fi-tn-mt-gox-bankruptcy-bitcoins-20140228,0,2153477.story

[sky otter]

http://www.theguardian.com/technology/2014/mar/07/satoshi-nakamoto-denies-inventing-bitcoin

Satoshi Nakamoto: man denies being bitcoin inventor amid media frenzy
Rory Carroll in Los Angeles

theguardian.com, Friday 7 March 2014 02.07 EST


'I got nothing to do with it,' says Dorian S Nakamoto after Newsweek report named him as founder of online currency


Dorian S Nakamoto, the Japanese-American man named as bitcoin inventor Satoshi Nakamoto, has denied any link to the digital currency amid a farcical media chase through Los Angeles.


Nakamoto, 64, disputed a Newsweek cover story that on Thursday unmasked him as the "father of bitcoin". His denial cast doubt on a putative scoop the magazine used to relaunch its print edition.

Nakamoto made the denial in an interview with the Associated Press after a day of near-slapstick scenes in which dozens of journalists pursued him and an AP reporter through the city, provoking a social media storm. "I got nothing to do with it," he said.

It remained unclear whether Newsweek had got the right man – the enigmatic, anonymous architect of the troubled currency – or committed a credibility-shredding blunder.


A media posse continued seeking Nakamoto on Thursday night after he left the AP office in downtown LA where he and the reporter had sought refuge earlier in the day.

On Friday morning the plot thickened when a post by "Satoshi Nakamoto" appeared on the P2P Foundation's Ning page saying: "I am not Dorian Nakamoto." The post appeared in the same discussion thread where a person going by the name Satoshi Nakamoto first published the idea of bitcoin in February 2009 – the TechCrunch blog said the P2P foundation had confirmed the latest message was from a poster with the same email address.


The Newsweek story, written by Leah McGrath Goodman, named him as "the mystery man behind the crypto-currency" which exploded in popularity in 2013 and supposedly made its founder worth $400m.

During a recent encounter at the doorstep of his modest two-storey home in Temple City, a suburb in the San Gabriel valley, he tacitly acknowledged his role, said the report. "I am no longer involved in that and I cannot discuss it," it quoted him saying. "It's been turned over to other people. They are in charge of it now. I no longer have any connection."

That version wobbled when Nakamoto told AP he had never heard of bitcoin until contacted by Newsweek three weeks ago.

The confusion was the latest twist to bitcoin's rollercoaster fortunes. After hitting a peak of $1,200 last year it tumbled to $130 last month after its most popular exchange, Mt Gox, collapsed. It was rebounding this week and valued at $665 on Thursday despite another scandal involving the bank Flexcoin. Detractors have accused bitcoin of facilitating drug smuggling and money laundering.

Satoshi Nakamoto, a name attributed to the currency's founder, was widely deemed a pseudonym for an elusive, genius hacker. Numerous media organisations tried and failed to find him.

Dorian S Nakamoto, named by Newsweek as Satoshi Nakamoto. Photograph: Damian Dovarganes/AP Newsweek, a venerable but struggling brand that had dropped its print edition in 2012, returned to newsstands this week trumpeting its 4,500-word story under the headline "Bitcoin's Face".


The article quoted his brother Arthur saying Nakamoto, born in Japan, was a bit eccentric, gifted at mathematics, had worked for defence and electronics companies and had a penchant for model trains.

It said he graduated from California State Polytechnic University and changed his name to Dorian Prentice Satoshi Nakamoto in 1973, from which point he signed his name Dorian S Nakamoto.

Within hours of publication dozens of journalists camped outside Nakamoto's door, ringing the bell with no response, until their silver-haired, bespectacled quarry, dressed in a grey sports coat and striped shirt, emerged and said he wanted someone who spoke Japanese and would buy him lunch.

"I'm not involved in bitcoin. Wait a minute, I want my free lunch first. I'm going with this guy," Nakamoto said, pointing at an AP reporter. "I'm not in bitcoin, I don't know anything about it."

Cameras followed as the pair headed in a Prius to a sushi restaurant. When reporters intruded they left and drove downtown, the pursuers tweeting all the way and making comparisons to the OJ Simpson highway chase in 1994.

Twitter exploded in glee and indignation via the hashtag #bitcoinchase, some people enjoying the spectacle but others critical of what they called media hounding.

A fake account, @DorianSatoshi, made jokey comments along the way. "Speeding west down the 10. I feel like this is going to end badly." And: "So many offers for free lunch. Looks like this bitcoin thing is paying off for me after all!" Later: "Ugh. AP journo isn't even asking me questions. He's just pitching his idea for APcoin."



The pair took refuge in the news agency's downtown headquarters, leaving a media mob outside. In AP's report, published late on Thursday, the alleged currency mastermind said his English was imperfect and that the Newsweek reporter misinterpreted him when he said was "no longer involved in that".

"I'm saying I'm no longer in engineering. That's it," he said of the exchange. "And even if I was, when we get hired you have to sign this document, contract, saying you will not reveal anything we divulge during and after employment. So that's what I implied. It sounded like I was involved before with bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," he said.

McGrath Goodman, who spent two months researching the story, responded that she stood by her version of the exchange on his doorstep. "There was no confusion whatsoever about the context of our conversation – and his acknowledgment of his involvement in bitcoin."

[Gigas]

Can you say CIA/federal reserve/big banker bed time story. This is what they dream of when things get warm.

In another story out of covert bitcoin intrigue, 28 year old CEO Autumn Radtke, chief executive of virtual currency exchange First Meta Pte in singapore, jumped to her death from 28 stories up as the story is now told.

http://www.cnbc.com/id/101472256

I think the bitcoin story of the founder is accurate and now that he got his cut, he turned it over to a three letter agency to handle all the profits from now on.

I think the posse has the right guy

Like bernie made-off taking investors in for a substantial hair cut, this other guy MT (empty) Gox (box) like corzine, did the same