Bitcoin Forum

Former Bitcoin Exchange CEO No Longer Believes In Bitcoin

http://fortune.com/2018/04/06/mt-gox-bitcoin-exchange-ceo-mark-karpeles/

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Link to the AMA on reddit (quite interesting): https://www.reddit.com/r/Bitcoin/comments/89o16y/im_mark_karpel%C3%A8s_exceo_of_bankrupt_mtgox_ask_me/

He should worry himself with the charges against him relating to the loss of millions of dollars worth of bitcoins and cash from Mt.Gox exchange and how the trustees are destroying the price of bitcoin with the massive sell off.

He doesn't need to worry anymore. I am fairly sure that throughout the years he has done a tremendous job in converting a large portion of his tainted coins through private sales. If he is a fiat multi millionaire already, with on top of that his own regular crypto stash, it very well explains why he is no longer that interested in Bitcoin itself, and probably never has been, especially so if you look at how much damage MtGox inflicted on this market back then. He used Bitcoin to get what he wanted, and might be looking for a new toy soon. I wouldn't even be surprised to see him pop up launching his own fork at some point in the future. I'm afraid that this criminal will continue to harm this community....

I usually don't call articles in the media FUD that easily. But this time it seems definitively that there is a conflict of interest. Or simply we are in front of a piece of s... *cough* bad journalism.

Take this sentence:

This is wrong; Bitcoin's price was even lower in January when it even broke the $6000 level for a short time.

Karpeles' opinion is a bit strange: If he says that the technology is here "to stay", why does he sound then "pessimistic for cryptocurrencies in general"? Or is the second sentence a (speculative) interpretation of his sayings by the Fortune journalists?

I agree, we can't really call that an article, because it simply does not have enough information. It doesn't even explain why he said that. It seems to be because of the price decline, but that doesn't look like a valid argument to stop believing in bitcoin. He said bitcoin won't be able to keep up, but he doesn't give any technical justification for that statement. We all know how well bitcoin is doing in terms of development, and this should be a great year for bitcoin, with the LN getting ready for adoption. Already on the main net, and we already have a wallet that uses it, so it should be available to everyone real soon.

The price is declining because of speculation, not because bitcoin has any problems, or is a bad technology, or it wont be able to keep up.

Who cares what this corrupt, inept criminal thinks.

Fuck this guy, seriously.

I am concerned about the sudden change of heart. What could have caused this? I am surmising this is due to all cases he shall soon be confronted with. He is now trying to psywar those who are into and against Bitcoin because he knows he is so dead in either case. More importantly, he is just making ways to salvage what he is left with because he knows any conflicting interest he signifies himself with will be treated with extreme caution accordingly. Thus, I think this is only a psychological battle he is trying to win for himself.

I think the bitcoin he got in the exchange already paid off all the investors loss as the loss is in fiat, not bitcoin.

No surprises here. Ever since February I have been seeing news about the Mt. Gox trustee selling and dumping all their Bitcoin assets away for Fiat Currency. But in all fairness Mark Karpeles keep his opinion true and with no one-sided opinion. Even I see that there are other cryptocurrencies better than Bitcoin and in many ways, but I still don't think that Bitcoin's market dominance is now over because everything in the market is still read, which means that the cryptocurrency market is still bearish. If Bitcoin is losing its dominance now, it should be the only one falling in the market. But its not even Ethereum, Ripple, and Monero is falling.

Come on, please. That guy had its (un)fair share of glory. Let him talk, he will do no harm. Running a bitcoin exchange was none of his business and he's lucky that, eventually, everything got solved for good. MSM have nothing to talk about during dumps and every bit of FUD helps. Don't worry

What else he needs after he received and gathered everything out of Bitcoin. Is it the support he gives to the crypto? Who really cared his opinion? Current loss in bitcoin value of around 30% in the current correction has occurred because of his selling recent trade selling bitcoin. A great contribution from his side for which he has to be filed a case. Who needs his suggestion on bitcoin growth?

Are you nuts?

The Bankruptcy proceedings is STILL IN PROCESS YEARS LATER. Not a single person who lost money on Gox has gotten ANYTHING.

"got solved for good?"

Solved how? It hasn't been "solved" for a long time!