Bitcoin Forum

Everyone involved in the cryptocurrency space is watching the price of bitcoin very closely these past few weeks. One person watching the value of bitcoin rise is the former CEO of the now-defunct Mt Gox bitcoin exchange. Mark Karpeles says he’s “monitoring the situation” as the Mt Gox bankruptcy may seemingly become solvent thanks to rising price of bitcoin.

Last week a post on the subreddit r/mtgoxinsolvency detailed that “Mt Gox reached around 78.5 percent of the claims value today.” The person also asked the former CEO what would happen if bitcoin’s price makes it to 100 percent of the claims value. Karpeles appeared on the Reddit thread detailing his interest concerning the current situation. The former Mt Gox executive says because Coinlab is suing the company it really makes the claims value around 59 percent. Coinlab, the venture-backed blockchain company, has sued Mt Gox for $75 million before the company went bankrupt.

Read More Here >>> https://news.bitcoin.com/bitcoins-price-rise-mt-gox-closer-solvency/

Apparently his definition of solvency isn't the same as mine.  The fiat price now is immaterial to the value their customers were robbed of back then.  If gox lost ~850000 BTC, they aren't solvent until they find ~850000 BTC.  And we all know that's never going to happen unless someone looks under Karpeles' mattress.  

You're right, but refunding lost Bitcoin as the fiat cost at the time is realistically as far as it's going to get.  I would basically just look at it as putting money into investments with high ROI in order to make the fiat money back, regardless of whether those investments are Bitcoin.  It would be near good enough for a lot of people anyway.

What galls me is how Karpeles is going to essentially "walk" without having to do much. He was in Jail for maybe a few months? Hardly the punishment suited to ripping a multitude of people off. But here he is, released from jail and walking around like a free man. I guess he can't leave Japan, but being limited to one whole country doesn't seem like much of a restriction to me.

And I swear, just from reading all of the material on him and seeing his tweets and other excerpted materials as this whole mess evolved, I suspect him highly. Its like he got in over his head, and concocted a way to just keep most of the funds even if he had to go to jail temporarily. For all we know, he knew that their police weren't sophisticated enough to understand how Cryptocurrencies work, so he just stashed it somewhere on a cold wallet, maybe a piece of paper in a safe deposit box, and just let them search everything.

Hell, he could've hid it in plain sight by encoding it into a printed picture using steganography. I just think he ran circles around the police knowing that when he got out, he'd have a huge stash and be able to siphon it out using new business interests as a front.

I personally think Mark is a twisted and callous individual, as shown by some of his previous dealings with business partners.

But of course, none of this will lead to him ever truly "paying" for his crime...

And this is not counting interest on the claims. If you lock up my money (or bitcoins) for 4 years, I would expect interest on them.
But what matters ultimately is the definition that the liquidators have... whether Gox owes you bitcoins or a few dollars.

I suppose it'll have to do.  But if Karpeles thinks that a price rise, some money being returned to those affected by liquidators and other such circumstances entirely outside of his doing are enough for him to regain any respectability in the community, he can think again.  I very much doubt his motives are aligned with those who want to recover their money, when he just wants to recover his reputation, which rightly lies in tatters.