Just when you thought things couldn’t get anymore hectic…weekly news update

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Satoshi Nakamoto Revealed?

Perhaps no other question has intrigued the Bitcoin community as much as the identity of Satoshi Nakamoto. There’s likely not a Bitcoin trader unfamiliar with the term. And yet for all the intrigue, every attempt to unmask his identity has met with failure, or at least uncertainty.

Now a new theory has popped up, pointing to a Japanese-American by the name of “Nakamoto” who may in fact be the Nakamoto. In a Newsweek interview Mr. Nakamoto apparently said he was no longer involved in Bitcoin and turned it over to others.

Since then, Mr. Nakamoto has denied making such statements and claims that it is all a misunderstanding. He claims that he said he was no longer involved in engineering and that he could not discuss the details because of an agreement signed with his employer.

For the record – I don’t really think it’s him.

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Warren Buffet Says Bitcoin is not a Currency

Whether or not Bitcoin is a legitimate currency or something else, such as an asset, has remained a topic of debate. Arguably the most successful investor in history, Warren Buffet, has come on record stating that Bitcoin is not in fact a currency. Mr. Buffet has claimed that Bitcoin does not store value and that he wouldn’t be surprised if it wasn’t around in 10 or 20 years.

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More Bitcoin Exchanges Collapse

Mt. Gox appears to have been wiped out following cyber attacks. Many hoped that the dramatic death of the mega-exchange would be the final note on a sad song, but it appears that other exchanges  may have been affected. Flexcoin has apparently lost over 440,000 Euros worth of coins and is now in the process of bankruptcy. Like Mt. Gox, the exchange blames hackers for its loses.

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Bitcoin CEO Found Dead In CEO, Suicide Suspected

Singapore celebrated a recent first: a Bitcoin ATM was opened in the past week.  The machine drew long lines and plenty of media attention. Unfortunately that recent first was followed by the apparent suicide of Autumn Radtke, an American living in Singapore.  Ms. Radtke was the CEO of First Meta Bitcoin exchange. It is not clear if her death was related to the performance of her Bitcoin exchange.

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Japan May Restrict Banks From Handling Bitcoin and Investment Taxes

It should be no surprise that the Japanese government is a bit wary of Bitcoin. Up until a month ago, Japan was home to the world’s largest Bitcoin exchange, Mt. Gox. Now the nation is home to the world’s largest Bitcoin bankruptcy. Apparently, banks and securities firms will not be able to handle Bitcoin as their main investment. Further, Bitcoin might be taxed like other investments. How this will actually be accomplished given Bitcoin’s anonymity remains unknown.

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Brian Booker

An international financial analyst and writer. He has consulted for the Malaysian government, various MNC's, and other organisations. He focuses on currencies, commodities, and emerging South East Asian markets.

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