Bitcoin Forum

Angry Bitcoin investors demand answers at Tokyo creditors' meet

http://news.yahoo.com/angry-bitcoin-investors-demand-answers-tokyo-creditors-meet-114524119.html


I am feeling sorry for them... but IMO, these protests are useless.  >:(

I'm enjoying the obvious hate spam by the moron making several accounts on the comments page :D

Yeah, I feel sorry for them to, Mark Karpeles is clearly an arrogant bastard, he reminds me of the politicians we have in the UK who are utterly convinced they've done no wrong even when they evidence is all stacked against them, I mean David Cameron is making the mistakes now but we've got our own historical example of Tony Blair and they're so desperate when they ever appear on television to convince us not that they were right but that they think they were right about the decisions they made.

There's a really good reason Karpeles doesn't want to travel here to the states to answer for his crimes.  Currently the DOJ doesn't allow inmates to use bitcoin for commissary.  As soon as tubby can buy his twinkies and ho-ho's with bitcoin I suspect he'll do the right thing!

reading the yahoo comments, i cant believe how stupid some people are  :-\

"More than 100 investors, mostly expatriates, attended the meeting at a courthouse in the Japanese capital, demanding to know how some $500 million worth of Bitcoins disappeared from the disgraced company's digital vaults earlier this year.

"They are very careful about giving out any information at this stage, it seems," Kim Nilsson, 32, a Tokyo-based information technology engineer, told AFP after the meeting.

"We were hoping for more, obviously," he added.

Kolin Burges, a 40-year-old investor from London, lashed out what he called a lack of transparency over the missing money.

"I felt that they didn't give out the answers they should have done," he said."


The "lack of transparency" is horrible, since so much is going on behind closed doors:
What are the courts doing, and are they planning to turn Gox over to Sunlot Holdings?
AND...
What really did happen to all the missing coins?

But one of them is pretty good

"BitCoin opportunists whine to the govenrment "We got ripped off...you have to fix it."

Kind of ironic...

I just don't see how they can recover something.

They will get a fraction of their original deposit. Somewhere around 20% to 25%. Several of the big investors lost more than BTC10,000. They will get somewhere around BTC2,000 to BTC2,500 back. And that is not a bad amount. Even at today's exchange rate, that will make them USD millionaires. They made the mistake by keeping their coins in an exchange. I hope now they will deal with their coins more carefully.

I doubt these protests can lead to anything, Unless someone is caught with the coins which is unlikely with the nature of bitcoin/mixing. This also give excuses to agencies and governments to demand regulation for BTC.

Why is there no Asset seizures? Leave them with nothing, they smiling all the way to the bank and other must suffer for their obvious mistakes.

Mt.gox is leaving a sour taste in their governments mouths, and the innocent will suffer for their mistakes.  >:(

I seriously doubt this but secretly hope that your right.  A good friend of mine lost quite a bit of fiat and btc on there :-(

A lot of USD deposits missing as well, obvious scam. It is the same as if I run online shop and used the customer money after their order for my expences and not delivering the ordered goods.

Where are you numbers coming from?

Can you post a link?

Thanks!

The title sould be:  Angry MtGox Traders Bitcoin investors demand answers at Tokyo creditors' meet
I wonder if they'll ever get their money back.. meanwhile Mark is living in a nice suite.

With a nice 'kiss-my-ass' view when he takes a dump.  Talk about adding insult to injury.

This is very optimistic since the court and lawyer costs will be HUGE.
Also, if Sunlot Holdings gets "awarded" with a green light for their plan, then expect your friend to receive almost nothing, ever... 
....sorry.

As a percentage, the amount of dollar/fiat deposits that are missing is small when compared to the size of the bitcoin deposits that are missing

Reading some yahoo comments on this here are a few lowlights but then an army of informed people who provided counter commentary but since the subsequent posts are not showing anything at all unless you press on them kind of keeps the FUD on top lol.

Warren Buffet, the smartest and one of the richest investors in the world, has said that bitcoin is going to zero.

Then all the comments on that
He has the same sentiments about gold.
There is a huge different between bitcoin and gold. Gold is a commodity which actually has value. Bitcoin has no value. Not that I would invest in gold, it's speculative at best. Almost any other investment will beat gold over the long run.
Gold is worth $1300 per oz only because that's how much people will pay for it. Bitcoins are worth $600 because that's how much people will pay for one. There is no difference in how they get their value.

This one was amusing though
I only invest in currency that can make this claim: "In God we trust that... anyone try to mess with this currency, we will send CIA/FBI to your doors, if any country mess with this currency, we will nuke you".

^_^ Classic.

May I ask why you find that amusing?
http://www.youtube.com/watch?v=lhol3zIoynE

Nice video Bit_Happy
And you know the good old central fiat printing bank promoting wars and what not to enforce their currency because its nowhere near worth that value otherwise.

I did enjoy your song choice and the drums good song choice ^_^
Nothing wrong with peace love and understanding nothing at all

Heres one back Peace :D
https://www.youtube.com/watch?v=K-69_ncALA0&
They want your soul
https://www.youtube.com/watch?v=XvwK-3cQ6gE
Now where the Hood At
https://www.youtube.com/watch?v=IIeSGUK-Lyo

BTC is a high risk speculative asset. A BTC investor should know it.

You cant just say it like that. Investors carry on certain risk, ofc, but there definetly needs to be some regulation to stop thing like this from happening.
It is not the first case of bitcoin missuse, and scamming through bitcoin, and that is one of reasons bitcoin doesnt have more investors.
Some say regulation will ruin bitcoin due to centralisation of some kind, but actualy heavy regulations are needed to give bitcoin a chance to move forward.

Investors have risk that the price declines, however investors should not bear risk that their assets get stolen from the entity responsible holding them.

True enough a person who keeps their wallets in cold storage runs virtually zero risk of ever having their coins stolen will call it the Dooglus model since just-dice is the best example of it.
Mark also apparently did not code his site well so yah....

These "investors" were not informed about the lack of regulations? I guess they were well informed and were gambling with the unregulated, highly speculative and risky asset. If you are investor, not "amateur" - you should take all risks, including the possibility of criminal issues.

Who said that investor should take one risk but not the another? Who is primarily responsible for the risk of your cash not stolen from your pocket? Investor takes all risks, but clever investor evaluate risks against the possible profit and is not blaming others afterwords.