Nicholas Kamm/AFP/Getty Images
Republican nominee Mitt Romney, shown speaking in Colorado. Were his tax returns really hacked? And how is he going to get $1 million in Bitcoin?
There hasn't been much movement on last week's news that Mitt Romney's tax returns were hacked and that the hackers have demanded a $1-million ransom to not release them to the media — a ransom payable in the peer-to-peer cybercurrency Bitcoin, about which I have been frequently writing for the past few months.
Matthew Elias and James Woods have an excellent piece at American Banker detailing the caper and offering what I think is a good explanation for why the hackers, if they're for real, have done this:
It is...plausible that these actions are motivated by a desire to manipulate the market price of bitcoins, regardless of whether this is a hoax. Someone holding a large position in bitcoins would have a strong incentive to create demand for the large number of coins needed to meet the $1 million ultimatum. The Bitcoin/U.S. dollar exchange rate has historically been very volatile, and an influx of $1 million could drive up the price by as much as 25%...
EMMANUEL DUNAND/AFP/Getty Images
Republican presidential hopeful Mitt Romney addresses a primary night victory rally in Manchester, New Hampshire, January 10, 2012. AFP PHOTO/Emmanuel Dunand (Photo credit should read EMMANUEL DUNAND/AFP/Getty Images)
At last night's Republican debate, Mitt Romney said that if he sews up the nomination, he would likely release his tax returns, as opponents and the Obama Administration have demanded. This is from USA Today:
I think I've heard enough from folks saying, look, let's see your tax records. I have nothing in them that suggests there's any problem and I'm happy to do so. I sort of feel like we are showing a lot of exposure at this point. And if I become our nominee, and what's happened in history is people have released them in about April of the coming year and that's probably what I would do.
OK, so Romney isn't necessarily the most blissfully fluid speaker in the land. It's hard to blame him for nonlinear sentence structure after the 734 debates he's endured in his quest to take on the president in November. But a more important question looms: What would we learn from Romney taxes?