Bitcoin Forum

TOKYO, Feb. 17 (UPI) -- The head of Mt. Gox, a Tokyo-based bitcoin exchange, said customers are concerned about their funds' security, but didn't explain why withdrawals were frozen.

Mark Karpeles, chief executive officer of Tibanne, which operates Mt. Gox, declined to discuss growing customer concerns about the financial status of the exchange, which has frozen customer withdrawals for more than a week, saying responses would be limited to only technical-related questions.

"We understand your concern on this issue," Karpeles told the Wall Street Journal in an email, "however, any customer-related questions are confidential."

Later Monday, Mt. Gox posted a statement on its website indicating it implemented a solution and "should be able to resume withdrawals soon." The statement said Mt. Gox would start withdrawals at a moderate pace and impose new daily and monthly limits.

Customers of the company have been pressing the trading platform to disclose more about its financial well-being.

In his email interview with the Journal, Karpeles repeatedly said the company's solvency was confidential but that it had discussed its business model with Japanese authorities "to ensure that we are operating within the law here."

Read more: http://www.upi.com/Business_News/2014/02/17/Mt-Gox-CEO-apologizes-for-bitcoin-withdrawal-freeze/UPI-99051392667941/#ixzz2uARVjdlq

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.
There is no other way to interpret his statement.

Change the title, clearly the title and content do not match

wisely said

What explicitly tells you they are NOT solvent?

The whole point is to get people to sell their goxbtc before reading the post, so the content doesn't really matter.

I don't know, but I'm not going to assume things or try and twist words into something they aren't.

I hope Gox dies a fiery death (after customers get their funds out and learn to be more informed when choosing an exchange), but I'm not going to lie about what has happened and what has not happened. The CEO hasn't confessed to anything.

1: Old news...
2: You are an idiot if that is how you translated that information as a confession or as bankrupt, or insolvency...
3: Customer information is always confidential, without a warrant...
4: Lack of even asking a "technical question", shows the poor understanding of anything worthy of printing...


How about this food for thought... All these young exchanges, who can't sell for less, because they purchased so high, when they started only a year/months ago... now have almost zero "new dollars" moving into the exchanges. (Translation, what few dollars they have, will soon be consumed by the cashing-in of all the coins which will be moving out of Gox soon. The more FUD on Gox, the lower Gox goes, the more cheap coins we get to cash-out on the other exchanges. Sooo ironic, isn't it. lol.)

Then again, I assume you have a Gox account, and know this... With hopes this FUD brings you some lower coins to purchase. lol... That ride is over. If you have not purchased your discount coins yet, you just lost your chance. Buy some higher priced coins, at a loss, and you might still have a chance at easy money from the other exchanges.

When the "price is low", the name of the game is, "get more coins"... (Buying or trading) People don't care about the dollars they can get out, when the price is low. Only idiots cash-out at the bottom. Smart ones are buying, and have sold the coins they got at $900, for $600... waited for the bottom, and purchased them back at $100, for gains.

What are the other exchanges doing... Nothing.. waiting... not making any money or BTC... being followers without any ability to earn. All while Gox strolls along, earning and trading all day long.

Nobody other than Mark is lying(or omitting), the obvious is just so obvious. No need for a literal statement. I hope they don't die before managing to pay their customers, but they are currently insovent. Confidential solvency, refusing to explain frozen USD. Nothing more is needed to say.

oh well let me put myself inside the Mark Karpeles head... IF i know a buggy software who can be exploited in some way as a EXCUSE to justify my acts i WILL use it to my OWN benefit and BLAME the software developers for being lazy and not fixing the bug in the code... bla bla bla aply lies a little here and there.

In fact Bitcoin developers had fixed this buggy version many years ago which Mt.gox says its bugged.

Lie went true and no one realized my scam!!! great theaft! are you gringos vary smart hmmm???

Bogus title about a bogus company......

Oh, trust me. A literal statement would have a massive impact.

That hasn't happened yet, and that is my only argument. Your thread title is a lie, regardless of what the actual truth of the situation may be.

I hope you like the new title.

It's an improvement. :)

The only confession was the confession that the reporters question was irrelevant.

Yes, because when I am bankrupt, or insolvent... I pay for my whole facility to be moved, and then setup a press-release to allow for technical questions to be asked...

Then stay running, all while not paying a dime... because I am bankrupt, and thus have no money for bills or rent of the new place... Again, also thus being insolvent, yet still somehow managing to do millions in withdraws... With imaginary money.

Yet another noob detective, just learned what a bitcoin was, and has all the answers to an exchange that helped start the whole thing. Giving bitcoin the face it has now. Led by noob-exchanges, who actually don't have money to trade, and thus, remain high, because no-one there could sell for less, if they wanted to, and no-one there has money to pay those crazy high prices.

They will fall to $420, as Gox rises to $420, then all fall again at the same rate, until more free-money is deposited into all exchanges. Stop worrying about it, and live with the choices you made. If you got stuck with high coins, sell them and catch a low, or hold them until price rises. If you are sitting on cash, buy while it is low, and wait for it to rise, or keep waiting for the next big cash-out to catch them lower.

No-one actually listens to FUD. You just think they do. Bots and real investors are the ones controlling the market, the FUD-mongers are just looking for reasons why shit happens... like people who invented gods, because they wanted answers to shit that just happens naturally. (Making up stories, just like FUD as the explanations.)

I assume you have and want to recover your loss, the obvious about his statement can't be more obvious. I do not have and would not have an account there after reading that. I am completely neutral. Solvency is NOT customer information, it is company informatiion, it is NOT confidential.

most of these FUD posts seem to be becoming a little game for the trolls. with them trying to see how far their FUD can spread and if their FUD can get as far as mainstream media.

i have no idea why the forum moderators thought they should remove the newbie zone.. if its about disk space to hold all these messages, then they should use their donatons to buy more server space, and not allow newbies to troll the forum, as its starting to become noticeably worse

Very misleading thread topic.

With that said,  I expect gox to go out of business at some point in 2014, maybe early 2015. Whether they have money or not I really can't imagine any customers choosing to stay with them once/if they get their money back.

silly thread title

This, I'm happy I have 0 in mtgox.

Nope, no losses, I cashed-out when it was high, made purchases, and now I am buying more coins...

Didn't have any delays getting coins out, not seeing any real delays that are unnatural for those getting most money out. (A few "new accounts", having trouble, being "untrusted", and "unverified", or "attempting to withdraw near minimum amounts". But no more than usual. Gox isn't a bank, its a trade exchange.)

Solvency (customers money), is "Customer information". Also, it was not the topic of the press-release, and thus, "out of order to ask"... even if he could have answered it without legal repercussions from customers. Hell, banks tell you the same thing too. However, they will tell you that if you have a court-order, the judge can have the auditing records looked at, which will just give you a legal "yes" or "no", to a simplified question, without specifics. (Since account information is not "public records".)

Besides, it is Japan, not America... Ask that question here, and you might get some form of actual answer. However, Gox simply told him to stick to the topic.

That is like saying I am guilty of murder, if I don't answer your question "Did you murder Bob?"... If I didn't bluntly say, "I didn't do it", or if I say "no comment", or if I say "I'll only talk to my lawyer", or saying "I don't have to tell you shit".

OP you trying to drive price down ? I think it is pointless at this stage

I've looked over all the news from the past 2 weeks again. This sentence is important. They probably lost a bunch of coins but they are able to pay the coins out of their own pocket. Gox is/was the richest exchange.

Or they are trying to get the hacked coins back by finding an agreement with the hacker. I mean if the coins get flagged they're meaningless as you can't use them.

I thought that server space for this forum was provided by Mark, at least at one point in time. Is this still the case?

lol?
what do you mean by flagged?
who do you expect to honor this flag?

All other exchanges and merchants. As they require ID and the crime is still a crime.

It's incredibly easy to "launder" those bitcoins through altcoin exchanges/localbitcoins and private members...

just stahp posting

Today is the 23rd why is the OP quoting news from the 17th?

Irresponsible thread title it should be corrected OP.

I know it is from 17th febuary, but it is the most important piece of information regarding Mt. Gox situation that many people may not be aware just like i was not. If you search the board for confidential solvency there no match other than my thread, so i can assume most people here is not aware of that.

timanderic. awesomeshow

GREAT JOB!

Fuck you for wasting my time, OP.

+100

Fuck you, OP, for wasting Beliathon's time.


BUT NOT MINE! Thanks, bud.

~Bruno Kucinskas

+1000

Yeah, fuck you OP, Beliathon is a busy man.

Good times  :D

Bit of a misleading title op thanks for that.

I don't see anywhere where he confessed to that, in any way. But I have to admit I suspect something like that has happened.

I don't think the title is misleading at all.   It's more of using common sense.  If they really wanted to re-assure customers that all is well, he would have flat out said that they are not in jeopardy of becoming insolvent and this was just a technical issue.  The only other possibility that he said that its confidential besides for them being insolvent is to intentionally create speculation to lower the price of gox bitcoins so that he could personally benefit.   Either way, Gox is not to be trusted.

Anyone who has to say that solvency is "confidential" information already admitted they are not solvent.

Who would say that if they were solvent?

Not condoning the thread title. But it is implicit in my view.

You suck OP, clearly misleading title.

It isn't useful information at all, it's an outright lie, because Karpeles has not confessed that MtGox is insolvent!

It's shocking that this has to be explained to someone that I assume is a grown adult. You can't just make shit up and expect to come out of it with your reputation intact!

The only verified statement that you can make so far would be something more like:


Which is not at all the same thing as your current title!

If you then want to speculate that this means MtGox is insolvent, great! Join the many others doing so over the last week! I have an opinion on that as well! But all you and I have is an opinion.

Do the right thing and correct your thread title.

Calm down mate, My title is perfectly correct by commom sense but regardless of what you think my thread is just my opinion, i'm not CNN or Fox News.

your title is the opposite of common sense. If I was a mod I'd ban you.

Q: In that case then why isn't your thread title "In my opinion MtGox is insolvent"?
A: Because facts aren't as interesting as something you just made up.

Do the right thing.

Noobs/trolls bothering a OP what a surprise.

The title fits.

I wonder if some people are that starved for attention outside of here that they feel the need to create factually incorrect and potentially libellous topics just to get it.

He will never confess to such a thing.

I agree with both of you. The title is factually incorrect, Mark hasn't confessed to anything in the literal sense. But yeah, Its pretty obvious they are not solvent. At this point, they're doing all the same things every other scam has done. Just check out the threads on WeExchange and Jon Montroll and you'll know exactly how mtgox will play out.

Nice work OP, I wish more people would learn to read between the words, a lot can be learned from what is not said and which questions are avoided... it's quite obvious there's something majorly wrong when you can't answer extremely important financial questions that have a major impact on stock holders and customers' interests...

If we want to be super literal assholes about the title:

"Mt Gox CEO Confess to be bankrupt/insolvent" could be seen as a request to do so, not any sort of claim that he has done so.

Make no mistake, they moved from one temporary office to another temporary office.

https://www.facebook.com/media/set/?set=a.315958005155280.72002.116777141740035&type=3

LMMFAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

https://www.facebook.com/MtGox


http://web.archive.org/web/20100516084425/http://mayzus.com/


Bitcoins going to the stock exchange (https://www.mayzus.com/forum/archive/index.php/t-16035.html)

https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcRFs94zeGIjhZYXIAIG2PGnO1pIseETgaAG5jK8p8D1GOEHEpXTgA

https://www.facebook.com/mayzus.english

With 92,086 likes, me thinks them goin' to have some 'plainin' to do as to why them have a vested interest in two competing Bitcoin exchanges.

http://images6.fanpop.com/image/photos/34700000/shit-s-about-to-go-down-adventure-time-with-finn-and-jake-34756282-640-399.jpg

<originally, fan/shit pic was sought, but...>

NOW WHO WILL DARE TO SAY MY TITLE SUCKS?

MY TITLE IS AWESOME

Yea it was a solid title, only trolls and noobs couldn't see it

Ill say it ..you are awesome :D