Tuesday, March 18, 2014
Increasingly it looks like Newsweek's outing of the creator of Bitcoin was wrong. The fingered person, Dorian Nakamoto, has hired a lawyer to clear his name. Newsweek has explaining to do. Nakamoto is upset that the media have invaded his life. The publication is standing by its story, but it looks shaky as the days progress. How could this happen, and how could the editors have allowed the report to go through? The reporter insists she did her homework and has evidence to back every allegation. It will be interesting to see if this ends in a libel suit. Sadly, Nakamoto will need to bare his life if he files because lawyers will hunt for any evidence that might prove the publication correct. No one wins with stories like this. Newsweek's credibility is shattered. Nakamoto and his personal troubles are exposed. One wonders how these things happen.
It's interesting how journalistic institutions and news media comments on the erroneous nature of crowd sourced and social media journalism. However, despite all the support and backing these institutions have, they can still make errors just as much as crowd sourced journalism. I wonder if that's because the line between institution and crowd-sourced is being blurred?