Mixer: Bits & Flicks, and the money they make and take

The man who reportedly created Bitcoin is 64 year-old Satoshi Nakamoto.

Newsweek magazine says he lives in a house in Temple City, with his mother, and has a $400 million fortune thanks to the virtual currency.

But then, Nakamoto gave the Associated Press a two-hour interview yesterday claiming that he is NOT the creator of Bitcoin, adding further mystery to the story of how the world’s most popular digital currency came to be.

Most recently, the Los Angeles Times reports LA County Sheriff’s Deputies confirm they, and Nakamoto, were quoted correctly for the Newsweek story.

So, what is Bitcoin? And why should we care about it?

Also, a new report from the group Film LA says the local production industry is being devastated by runaway production. Just 8 percent of big budget Hollywood films were made here last year, down by nearly two-thirds since 1997.

The report comes as California lawmakers are pushing for an overhaul of the state’s incentives program.

Visual effects are one of the many industries connected with TV and film production and many of those companies are moving, taking thousands of jobs with them. We even saw VFX workers protesting outside the Oscars last weekend.

Chris O’Brien, reporter for the LA Times, joined us to talk about Bitcoin. KCRW’s own Kim Masters, host of The Business, also Editor-at-Large of The Hollywood Reporter, also was with us.