Bitcoin Forum

His reserve is $750,000.

If he gets his money, do you think maybe he'll pay us back?(Probably not, but worth the hope right? :( )

http://i58.tinypic.com/vy4ht5.png

http://domains.ha.com/itm/bitcoinscom/a/1120-49.s

An interesting article by Forbes: http://www.forbes.com/sites/kashmirhill/2014/07/08/mt-goxs-mark-karpeles-is-auctioning-off-bitcoins-com-opening-bid-185000/

An something by coinspeaker: http://www.coinspeaker.com/tag/mark-karpeles/

"Mt. Gox is planning to sell bitcoins.com domain at the upcoming auction and give the revenues for the people affected by the exchange bankruptcy."

We'll see^

THAT, we'll have to see ;D

It would be nice if that got bid up a fair amount and he actually did use it to pay back customers. He will never reclaim his reputation, but every bit helps the people that lost so much there.

Aren't there thousands of creditors with the bankruptcy of Gox? If so you'll likely get a very small slice of what you've lost - doesn't make a big difference really aside from just looking a little better for Karpeles tattered reputation.

doubt that he will pay someone back.. Too small amount of money to pay back :D

I wonder what the plan of action is to pay people back, should that definitely be the case.

I mean is there a plan to settle on a % of pay back? Do they fulfil their payback to each person in full (or to the % of) before moving onto the next - that would require less administration than paying everybody a slice of auctions every now and again.

Wow 750k $ for a domain name?????

I think he will invest it in a pie factory  ::)

The amount of btc you'll get after that domain is bought is very small since there will be a lot of brokers taking their share of the btc they lost.

Only 19h and a couple minutes left on the internet portion of this auction
http://domains.ha.com/itm/bitcoinscom/a/1120-49.s
From that we know its less the $750 K atm but not the exact price
Item Activity:    2 Internet/mail/phone bidders

Two bids unknown amount will be interesting to see how this picks up later.

well I think all money from sale will not come anywhere near karpeles - administrators will process it. so many creditors to deal with, how to decide who gets a piece? somehow no point to divide 750k by total number creditors! but i know he also is trying to keep his other business running etc., i wonder where gets even money to do this! and whether he will auction more domains.....like mtgox.com? (or similar, do not remember url exactly)!

$750,000 is worth slightly over 1,000 BTC. Or about 0.15% of the total amount of BTC that Mt. Gox owes. There are individual people who lost more than this.

Ugh, he shouldn't even auction this off. What if it falls into the hands of someone who will use it badly? He should just donate it to the community somehow. He's never going to earn enough money from this to pay everyone back anyway.

Doubt people will pay that much.

I can't really imagine the guy who actively stole BTC for 6+ months and could of told people not to deposit into Mtgox.. but didn't... would do anything for the community. He is one of the biggest scumbags.

I hope we will be able to pay in hamburgers and pizza and perhaps chicken wings with a milkshake.

I really hope he use the money for compensating people, so many people lost so much money.

It's really disappointing to see about how greedy some people can really get.  If he just stopped everything he could be making more money than he actually stole.

This would be true if the domain name was owned by MtGox or maybe Tibanne Ltd.
If it is Mark's property the proceeds will likely not be affected by MtGox's bankruptcy at all.

Let's do a quick calculation how many Frappucinos you can buy with that kind of money... He could have 3 Frappucinos per day and that for a whole 91 years!

Honestly if he does pay us back then I would be impressed and my perspective of him would change.

If he took the proceeds from the auction, put it in bitcoin and hodl'd for a year, then he could pay everyone back maybe

Yeah, shoulda coulda woulda... Won't happen I guess. Do you expect TradeFortress to pay his debts back? Or Ukyo?

Bitcoin's price would need to grow 1,000 times in a year. And even if it were possible, it would only be in fiat terms. Someone who lost 1 BTC would only be awarded $600, not the $600,000 that they actually deserve.

Good point.  Does anyone know if Mt Gox have to reimburse creditors in terms of Bitcoin or fiat?

You forgot the third option:  Nothing. 


It technically should be fiat but will that really happen? 

If he pays everyone back it will be because of legal pressure not because he freely chose to do so. So even if everyone does somehow get payed back he's still a fat fuck thieving scumbag.

Although it would be strictly a business decision if you were to be considering purchasing this domain, I think people should not support him and refuse to pay for something that would be profitable for him.

He'd probably make more money if he sealed himself in an airtight container and auctioned off his only oxygen supply.   :P



That's actually quite a relief, wouldn't want any more of them to mysteriously vanish on his watch.



Surely that's a bit backwards?  Should make his creditors whole first before lining his own grubby pockets even further. 

Looks like the auction has been halted due to court actions.   750k reserve price is pretty lofty..

I think he has said that the funds are going to be used to pay back gox creditors.

That sucks. The creditors would've probably gotten much more money from this auction than whatever will happen now. (Maybe it'll be given to CoinLab for next to nothing? CoinLab seems worse than even MtGox...)

Mark should think about selling it on an auction site outside of the US. (Maybe this isn't legally possible, though.)

If the creditors were to be given the money from this it would almost be an insult. 750k of about 600m is what like a 0.15%? so if you lost 100btc you would get 0.15 btc back..... It's something yes but I feel in some ways this is Mark just trolling people.

Yup. It really puts into perspective how much the Bitcoin community lost due to the Mt. Gox disaster. $750,000 seems like a large amount of money, until you realize that it's only about 0.15% of the total BTC value that Mt. Gox owes to its customers. :(

just got an email from Heritage Auctions stating that the domain name Bitcoins.com has been withdrawn from auction.

Does it matter? If the creditors could get back 10% of that they lost,they would be happy. No matter they pay you BTC or fiat!

I'm sure a lot of people wouldn't be happy with %10, seeing as how it's almost certain that Mark fat fuck is sitting on %100 of the bitcoins.

Umm... I thought the proceeds of the auction would be going to the victims of Mt. Gox. It would be awesome if someone like Bill Gates bought the domain for $500 million. Then everyone who lost money in Mt. Gox would have all their BTC back.

That was a pretty random calculation.

He would hodl,  he just wouldn't settle his debt.

Pay back his creditors?  Filing bankruptcy?  Isn't that the point of filing, so you don't have to pay them back  ;)

I ran the calculation and those numbers are actually wrong. For purpose of this calculation let's say Mark is getting the biggest size Venti and the most expensive Frap is about $5 for a venti so let's use that price. 3x5=15x365=$5475 in one year.

Now your calculation that $750k could only buy 91 years of frappucinos at 3 a day so lets run that number. $5475x91= $498225

You still have roughly $250k left over even if you buy the most expensive frappucino for 91 years.

$750,000/$5475= 136.986 years of frappucinos

Assuming prices stay the same in dollar terms. lol likely will not be the case as the fed prints to infinity.

Hmm... the top five users of Mt Gox (> BTC10,000) had a total of BTC130,809 deposited between them at the time of robbery. The average holding was more than BTC26,000.    

That said, 0.15% of that figure (BTC26,000) is still a very significant amount of money (BTC39).

The US Court Halted that. http://www.coindesk.com/auction-bitcoins-com-domain-halted-us-court/

Good.  I'd say that's the best course of action right now.  I'd place more faith in the court's ability to arrive at a sensible decision than Karpeles.  He wanted the chapter 15 bankruptcy protection and he can suffer the consequences of that choice, especially if that means not trying to sell bits off on the side to make a quick buck.

How could he think this would be allowed by the creditors?

Karpeles probably doesn't have much of an attachment to the users of his exchange
One of those people who are like oh people have a lawsuit that's fine I'll just carry on with business as usual.

Mark Karpeles deserves a swift kick in the balls.

He does deserve a kick in the balls, but if this domain does sell I can guarantee you that you still wont even see 0.00001 BTC in your account, the money has gone and you will never get it back, if anyone is holding hope just drop it Mtgox are only dragging it out saying they are trying to recover funds etc but we all know that its gone.

Claw hammer to the eyeball  ;D

Pitchfork to the pinkie toe.  :o

No of course he wouldn't pay anyone back if the domain sold.  If he was selling the domain name to pay people back he would have done it through the court and not just posted about it on Twitter!

Hes not gonna gives us our shit.

Mine would change too. I would go from thinking he's a conman to thinking he's insane. There is absolutely no upside for him to do that at this point.

Agreed. When I first heard of this I hoped he would repay some of the money if he did get a good price. I think his advisors knew and would have told him this would happen. This was probably just an image rehab move. 

Stub his toe on a table leg?

So, who one the auction?

Don't forget a frappuccino!  :D


I think he's being watched carefully. If he sold the domain and embezzled the money again, he'd go back to jail.
If he really wanted to escape he had a chance right after the bankruptcy, when he was still free and had money in his pocket. Instead he stayed in Japan, bought a new apartment and attended court meetings.

What about the remaining gox coins and BCC that was added on top of it?

Bad debt i guess, he has got no shit to offer again and we are all waiting for  the proceedings of the court and what the outcome of this case may gut be. I feel pity for him though.

Seems like it was stopped: https://www.coindesk.com/auction-bitcoins-com-domain-halted-us-court/

I completly forgot about karpeles auctioning off the domain, I quick whois lookup shows that it still belongs to him and his company. https://www.whois.com/whois/bitcoins.com So I very much doubt it was auctioned

https://www.financemagnates.com/cryptocurrency/news/u-s-lawyer-on-karpeles-he-would-be-arrested/


So, the FBI could go to Greece and arrest the BTC-e dude on holiday from Russia, but can't go to Japan and get Mark Karpeles, eh?

Even though we might think it as an expensive offer, I think anything is possible. Since the domain BitcoinWallet.com fetched $250,000 back then a few years ago, at this stage I don't think such domain in .com extension deserves anything less than that figure. Considering the future possibilities of the growth of Bitcoin, any investor (probably Bitcoin early adopter) might give it a try after few rounds of negotiations in my opinion.

P.S - Sorry, something went wrong on my side and I misunderstood that the domain is again offered for sale in the auction. Somehow I missed the date and few previous posts regarding it.  ???

Seems like he's staying in Japan for a reason. Back in 2015 he's pleaded not guilty for the events based off MtGox. I don't know how, but that's that. Possible FBI involvement too? He's been tied with links to silk road as well as the fracas with MtGox, upsetting to see where priorities lie.


Read the last 3 posts and stop shit spamming for your signature.

Why did you bump a 3 year old dead thread?

Anyways, this is an unbelievable domain. BITCOINS.COM ???

Wow. Easily worth over a million.

Look, you moronic cocksucker, I'M NOT SHIT SPAMMING MY SIGNATURE. If I were, I would say that I was/am, BUT I'M FUCKIN NOT. My posting happens have remained the same regardless of what's in my sig, YOU FUCKIN ASSHOLE !!! Apologies if I didn't come across as rude your fuckin ass deserves.

BTW, in case you forgot, revisit this thread - https://bitcointalk.org/index.php?topic=349039.msg3737910#msg3737910 - where you caused folks to loose money, you fuckin asshole.

[14:13] <xiando> I'm surprised you actually answer me for once. I did not expect that. I'm just wondering if you have a timeframe for when the "temporary unavailable" bitcoins will be available?
[14:15] <MagicalTux> I never thought it would come to this but here we are
[14:15] <MagicalTux> I'm gonna give a public statement later
[14:16] <MagicalTux> I give you my word
[14:17] <MagicalTux> For you see there is a lot of things we have to deal with now
[14:17] <MagicalTux> It's up to the US govt when we can access the cold storage
[14:17] <MagicalTux> We never got it back after they confiscated it last summer
[14:18] <MagicalTux> I'm gonna be frank here
[14:18] <MagicalTux> They let us keep running the exchange but they did freeze all our assets in relation to the SR to investigation
[14:19] <MagicalTux> So you see it is really not our fault
[14:19] <MagicalTux> So down to the deep truth
[14:13] <xiando> truth?
[14:19] <MagicalTux> It never accrued to us that we would have to access the cold storage
[14:20] <MagicalTux> I'm gonna have
[14:20] <MagicalTux> to run out shortly
[14:21] <MagicalTux> hang around for a while so
[14:21] <MagicalTux> you and I can talk some more
[14:21] <MagicalTux> after desert
[14:21] <MagicalTux> Now you should read the second word of everything I wrote (https://pastebin.com/LPm3jBG7)

I was fuckin bored at the time while waiting for my favorite girl on MFC to login so that I can jack off to her playing with her pussy.

Mark Karpeles also still owns gox.com purchased the day Mt Gox went dark:


Don't forget to checkout my sig.  ::) ::) ::)

Okay, I for-real apologize to CrackedLogic after he reached out to me via PM in re this post of mine ->https://bitcointalk.org/index.php?topic=706230.msg20992450#msg20992450

It's all good now.

Again, I apologize.

Bruno

Looks like he's probably going to cash in on that, or a possible restart? I doubt it's the latter. Seems like an attempt from greed.


This made me laugh - also, they let the exchange run while they froze their assets, And they had access to the cold wallet , Was this legitimate or just bulldust?

Remember when CoinLab was suing Mt Gox for U$75M?

Here's the original contract:

http://ia601700.us.archive.org/8/items/gov.uscourts.wawd.192566/gov.uscourts.wawd.192566.1.1.pdf


Two months prior was the creation of The Bitcoin Foundation consisting of both Peter and Mark, among others, it, too, having the same office address as highlighted above.

Speaking of strange bedfellows, is one the following Mark's cat?