I doubt we'll see anything. There will be experts and court clerks to pay. Their fees will eat our funds.

I do not care about big guys' quarrels. I want this thread to only discuss giving (or not) a grant from TBF to scientifically research Gox and goxing (how this happened and where the goxed coins are and who / what addresses have it). There should be some evidence in the blockchain in case coins got stolen, right?

I want science guys (funded with TBF money) to diagnose Gox and draw conclusions for the future (to prevent from goxing).

If any of these science guys can help Gox, in case coins can be made available again, then fine. I have lot of fiat there (I should have written ''had'', because all will be lost due to legal costs).

I agree with you. Gaving and other guys (with knowledge and resources) should be on the plane to Tokyo curious to find out about what happened. Isn't science about curiosity? All I can get from the smarty guys are hypothesis on their blogs.

Hi TBF,

1. You have been doing a great job of giving grants to promising business ideas, e.g. https://bitcoinfoundation.org/blog/?p=407 that help achievieng your 3 gols of:
- standardizing Bitcoin,
- protecting Bitcoin,
- promoting Bitcoin.

2. You may have heard Gox is dead. Mark Karpeles claims BTC 750,000 of Gox clients and BTC 100,000 of Gox equity coins are unaccounted for: http://bigstory.ap.org/article/japan-minister-calls-bitcoin-collapse-expected

3. Bitcoin received a lot of promotion because of Gox having gone bust - one of your goals is achieved (promotion). Unfortunately, not the way many of us would like. One of the biggest exchanges going into the red does not help to protect bitcoin. We, the users (ordinary people) do our thing - we keep our computers clean, we use tor, we have computers that will never touch internet again for cold storing. It appears bitcoin exchanges (even your members, like Gox) do not do it.

3. There are numerous theories of what happened and why BTC 850,000 are unaccounted for (there can be a mix of the below):
a) lost private keys
b) theft through malleability bug
c) inside job by Mark himself or his employees
d) giving up the coins due to governmental coersion
e) whatever

4. I want you, the Bitcoin Foundation, to give a grant to scientists (goal: protecting Bitcoin) for the following tasks:
a) identifying reasons for unaccounting BTC 850k at Gox (malleability impact inclusive) and understanding the mechanism of this unaccounting,
b) analysing blockchain and other sources to identify where these coins are at the moment and who has them; BTC 90k may have already been found: http://www.hackingdaily.com/2014/02/mtgox-speculations.html
c) post research conclusions (protecting Bitcoin): what measures should be taken in the future to prevent from goxing / defrauding ordinary people by other exchanges (daily signing messages with exchanges' addresses, monthly financial statements signed by exchanges' CEOs, etc.) - this would help standardizing Bitcoin's environment's key element: exchanges.

5. Come on, how can Bitcoin be protected if exchanges go bankrupt, one after another. Who is next? - a payment processor? - then Bitcoin is dead and no merchant will ever touch it!

6. Please stop giving grants to business undertakings like online wallets and do something that has long-term value.

Clearly BTC 90k are sitting in 2 addresses. These seem to be either Gox's or Karpeles' addresses. Claims that Karpeles / Gox is left with only 2,000 coins are misleading at best (if not an outright lie).

I think the Bitcoin Foundation that has 3 goals https://bitcoinfoundation.org/about/
- standardizing bitcoin
- protecting bitcoin
- promoting bitcoin
and gives grants to scientists and businesses
should fund a grant for scientists whose aim would be fulfiling one of TBF's goals (protecting bitcoin) by finding Gox missing / / lost / stolen / hidden by inside job coins through blockchain analysis.

If people DBA government (either US or Japanese or yet some other) did this (stole bitcoins or forced Karpeles to steal bitcoins), then Karpeles will be found dead soon or will never be found. These people leave no witnesses.

Thanks

It is probably in usd thousands. So 20,000k were used to purchase bitcoins.

Yes, they are idiots. even markets proved them idiots.

source?

Given Gox filed for bankruptcy, is it better (in terms of value that can be retrieved) for the goxxxed traders to sit there on fiat or on BTC?

Anyone know Japanese bankruptcy law?

LOL, you made my day 

This!

Exactly. These stolen / inside job btcs have already been in circulation for a long time and are reflected in the prices on other exchanges. This is not a bullish news.

In case privkeys were lost - that would be pro-bullish.

At least he allowed people to trade on fake data. People thought they were trading real BTCs, while in fact they were playing a video game* (vaults were empty). People were lied to point blank for a long time.

If that doesn't deserve to be called a scam then tell me what is a scam.


* I admit it was a high quality game though   I even managed to make a few profitable (on paper) trades.

The joint statement killed the rescue (if one ever was to be effected).

Gox's collapse will be a huge blow to bitcoin. Expect lots of ignorant merchants to simply withdrew from accepting bitcoins and expect potentially new merchants abandon their plans to start accepting bitcoins.

Bottom will be well below 400 and if btc ever recovers it might take years.

It'S official now http://bigstory.ap.org/article/japan-minister-calls-bitcoin-collapse-expected

OP please list Karpeles as scammer.

These messages will give me a hart attack one day