Posted on 08/19/2019 1:24:06 PM PDT by DUMBGRUNT
I mined 980,000 Bitcoins using a remote computer and my laptop in 2009. As Hal Finney explained this in his 2013 Bitcointalk post quite accurately, “those were the days when difficulty was 1, and you could find blocks with a CPU, not even a GPU.”
My full legal name is James Bilal Khalid Caan.
But I will forever be known as Satoshi Nakamoto.
(Excerpt) Read more at satoshinrh.com ...
Gone but not forgotten???
Clifford Irving died a couple of years back, he could have been helpful??
what happened? did he forget his password and was he locked out after three unsuccessful tries to get into his virtual wallet?
In the unlikely event, you are still following this story...
Time will tell.
Nightmare! Very anxious, I rang the support guys the next day. They said they were looking into it and would get back in touch ASAP. They asked me to ring them back in 48 hours. I rang them again 48 hours later and they informed me they had good news! The hard drive was packed in and they had replaced the hard drive free of charge and sent the laptop on its way back.
Well that sucks. He should have bought an island while he could. 8>)
He appears to claim to be a Pakistani and he defends the old BCCI as not really corrupt. This reads like a revengeful paranoid loser who never accomplished anything. It simply lacks all credibility. It is a PR stunt, IMHO, for a Satoshi Nakamoto-named business venture that one should avoid at all costs. Ivy McLemore is a publicist. Why would the real Satoshi go to a schlockmeister like that?
Isn’t Bitcoin just a speculative investment?
What is the business model of Bitcoin; how does it have value?
I’m.no stock analyst, but, my rudimentary understanding is that the stock value of a company is based on whatever hard assets the company owns, and also based on expectations of future financial performance as the business operates.
How does Bitcoin fit into such valuation standards? And if it doesn’t fit it, isn’t investing in Bitcoin just a roll of the dice?
Trying to follow, but the cryptic bits, the numerology, and my own lack of technical understanding get in the way.
I don’t get the mining part. How do the miners know where to look? I think I understand that there are keys buried within computer code (is that accurate?).
I don’t quite get how the author lost his fortune just because his computer glitched or failed. No back ups? No way to access the digital wallet? He had 2 computers, one very well-equipped and he didn’t keep copies of the keys to a fortune?
Interested in what the professionals can add to all this.
It also seems very volatile, just from having seen (and barely understood) headlines over the years.
yes...
I don’t get the mining part.
Mining is somewhat complicated and every day seems to require greater computational power.
Those crafty old Ruskies went for the big guns!
“The suspects had tried to use one of Russia’s most powerful supercomputers to mine Bitcoins, media reports say.”
https://www.bbc.com/news/world-europe-43003740
What Coin Miners Actually Do
Miners are getting paid for their work as auditors. They are doing the work of verifying previous Bitcoin transactions. This convention is meant to keep Bitcoin users honest and was conceived by Bitcoin’s founder, Satoshi Nakamoto. By verifying transactions, miners are helping to prevent the “double-spending problem.”
More here:
https://www.investopedia.com/tech/how-does-bitcoin-mining-work/
Ponzi scheme
Dunning-Krugerrands. :P
I checked earlier and was waiting for 4 pm eastern to come around!
What’s the chance this is fake news?
“What is the business model of Bitcoin; how does it have value?”
Just like what makes gold valuable. The rarity and mostly the amount of effort it takes to mine it dictates it’s value. But unlike gold which always maintains a stable purchasing power, digital currency is vulnerable to it’s own popularity market value.
Having been involved with the precious metal mining culture all my life I never fell for this bitcoin thing. Mining physical metals is already risky and speculative enough and it actually has stable purchasing power compared to all other currencies. Digital non-physical?
Not me... Far too many times now the rate has dropped below what it costs for the computing power and electricity to mine them.
I checked earlier and was waiting for 4 pm eastern to come around
I’m thinking it is EASTERN ENGLAND TIME?
Or something?
What’s the chance this is fake news?
Coin toss?
That said, it is a bit dry and plain?
Why fake that?
I do hope it is the real deal and he proves his case.
Holy cow! Crazy history here. A 980,000 bitcoin hard drive replacement! If he had just asked for the old parts back!
I find it hard to believe any of the facts claimed in this story. Starting with the identity of Satoshi Nakamoto.
On his page there he indicated “EDT”. So I don’t know? Do they have time zone references like that there too? I honestly don’t know?
Bit what’s cool is that he put out part II and part III out together in this one. :)
Again thank you for staying on it!
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