Bitcoin Forum

from mtgox.com February 26th 2014

Dear MtGox Customers,

As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.

Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.

Sincerely,
Mark Karpeles

Dear MtGox Customers,

In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.

Best regards,
MtGox Team

Should have replied much earlier and should have giving more details. They really keep costumers in the dark.
If the rumors are true about losing so much money, how can they ever recover from that?

Thanks for posting this, I"m sure many people are wondering what will happen next. I'm also interested where you got this info from, was this on the MTGOX site or Twitter?

Just look at:

https://www.mtgox.com/

here we go Japanese central bank about to step in get ready for a Bitcoin price explosion

Karpeles had a meeting with his  lawyer today.

 Proly told him to deny deny deny and stall and stall...

or implosion?

I am pretty sure they will re-start operations soon so everybody will be able to withdraw their fiats/coins. :-)

Market is going to fight the price higher to stop the Central Bank of Japan buying back Marks lost coins cheap, assuming he has lost some of them and isn't hiding them.

Strange opinions in this thread. The Japanese central bank has nothing to do with this and obviously the coins are lost and operations will not resume. That is completely obvious at this point.

Well they need a whole new interface and they need to start trading all the crypto's and the bitcoin clarke moody site should link to graphs of all the different coins.

CanIHazCoins: can I live in your world please?

Bitcoinpro: you realise they are massively insolvent, right?

Until a Crytocurrency Banking act can be created the Central Banks will have to make up the numbers from the Fiat side after all
we are assuming millions upon millions of Fiat dollars have been going into Mtgox, its the central banks responsibility to make sure
it wasn't marks personal embezzlement fund.

I got know idea what kind of numbers are missing here but its got to have some kind of paper trail

Are we assuming that this is just a Crypto Issue? Why is their so much Coin still in Mtgox addresses ?

According to its charter, the missions of the Bank of Japan are

       Issuance and management of banknotes
 ->   Implementation of monetary policy
 ->   Providing settlement services and ensuring the stability of the financial system
       Treasury and government securities-related operations
       International activities
 ->   Compilation of data, economic analyses and research activities

Don't be too positive.

how is Japan ever going to get back into the Crypto scene if Mtgox collapses and investors lose 100% on the dollar?

assuming the IRC chat is legit, and karpeles wrote the announcements on mtgox as best and honest as he could..

things we can be sure of:
1. it is not just a programming glitch that they need to patch (as this only requires coders, not lawyers and a requirement to stay silent)
2. it is bad, because just asking for legal advice about delay funds until a coder fixes the bugs doesnt leave a man sleepless at night. but entering into a legal battle does.
3. (same as 1) it is not just a programming glitch, so dont keep your hopes up on that theory.

next assuming karpeles has a japanese license for money transmission. then peoples FIAT funds would be protected by these things:
so people that deposited FIAT into gox, should research making a claim with his japanese bank.

not one person posted in my thread an official Mtgox address, I haven't lost any money and I posted some,
what are they keeping the addresses for, their lawyers  :D

Will Mark Karples and staff go to Jail? THIS I want to know!

what have you lost ?

Seriously doubt BOJ will be buying BTC...

what was the name of the Bank in Japan taking Mtgox deposits/wire transfers ?

ah ok thanks friend.  I wasn't sure if the site was still down.  Thanks for letting me know, cheers !  :)

Mark said

"I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues."

what parties could these be I hope they don't involve strippers  :D

If he keeps giving extremely vague answers like this, it's not going to end well for him.

The lack of communication is what I find appalling. Luckily I have never used mtgox so I didn't lose anything but if I did, and this was the type of communication I got from a company that has my money, I would not be a happy camper.

Joke:
Update 3: I found it, my usb with 700k bitcoins, It had fell down the side of the sofa at starbucks, withdrawals to resume soonish.!

The idea that the central bank will bail anyone out is total pie in the sky, unfortunately.

All he needs to say is "we have xxxxx btc" and nothing else matters

I come from the online poker community where situations similar to this happen on a regular basis.  Whenever you see these kinds of actions such as vague announcements and stall tactics only bad things are happening.  FullTilt Poker comes to mind.  Sorry to be so negative, but based on the actions there is no way Gox has nearly enough money to cover customer liabilities.

There is zero chance that Japan`s central bank will intervene.

Charges against Karpeless could be possible because him committing crimes on their soil embarrasses them. But there will be no Japanese bailout of a company owned by foreigners that lost the money of a bunch of (mostly) foreigners.

Because, the government sucks, that's why.