https://bitcointalk.org/index.php?topic=492776.0;all


If you want to improve things I'm suggesting the following:

1) help find the money
2) encourage the various exchanges to adopt higher standards of security, responsibility, transparency, and accountability.  They should be community certified, be bonded, have insurance, provide performance guarantees, provide better customer service, provide signed proof of solvency via the blockchain, provide regular audited statements, and the like
3) help develop a program that can search the blockchain for critical info
4) ask others to help the cryptocurrency industry in any of these 4 ways

as it stands right now, the situation that occurred at Mt Gox could happen at any other exchange, which places the whole cryptocurrency in a downward pointing spiral.  Essentially, btc holders are slowly cashing in their coins in hopes that something material changes.  But as time passes the realization of the btc protocol flaw (inability to find the money, resulting in unreasonably high risk) becomes painfully clear.

The blockchain is a perfect witness, it sees everything but if humans are unable to use it then it's useless large scale roll-out.

It's going down but it doesn't have to, the longer it takes for the missing money to be found the faster and more permanent the injury will be to btc infrastructure and most of the cryptocurrencies that have mirrored their protocol on btc's protocol.


https://bitcointalk.org/index.php?topic=492776.0;all


If you want to improve things I'm suggesting the following:

1) help find the money
2) encourage the various exchanges to adopt higher standards of security, responsibility, transparency, and accountability.  They should be community certified, be bonded, have insurance, provide performance guarantees, provide better customer service, provide signed proof of solvency via the blockchain, provide regular audited statements, and the like
3) help develop a program that can search the blockchain for critical info
4) ask others to help the cryptocurrency industry in any of these 4 ways

as it stands right now, the situation that occurred at Mt Gox could happen at any other exchange, which places the whole cryptocurrency in a downward pointing spiral.  Essentially, btc holders are slowly cashing in their coins in hopes that something material changes.  But as time passes the realization of the btc protocol flaw (inability to find the money, resulting in unreasonably high risk) becomes painfully clear.

The blockchain is a perfect witness, it sees everything but if humans are unable to use it then it's useless large scale roll-out.

If you listen closely you will hear the sound of money vanishing, the longer it takes for the missing money to be found the faster and more permenant the injury will be to btc infrastructure and most of the cryptocurrencies that have mirrored their protocol on btc's protocol.


https://bitcointalk.org/index.php?topic=492776.0;all


If you want to improve things around here I would suggest one of the following:

1) help find the money
2) encourage the various exchanges to adopt standards that are based on higher standards of security, responsibility, transparency, and accountability.  
The should be community certified, be bonded, have insurance, provide performance guarantees, provide better customer service, provide signed proof of solvency via the blockchain, provide regular audited statements, and the like
3) help develop a program that can search the blockchain for critical info
4) as others to help the cryptocurrency industry in any of these 4 ways

as it stands right now, the situation that occurred at Mt Gox could happen at any other exchange, which places the whole cryptocurrency in a downward pointing slow churning spiral.  Essentially, btc holders are slowly cashing in their coins in hopes that something material changes.  But as time passes the realization that the btc protocol flaw (inability to find the money, resulting in unreasonable high risk) becomes a painfully clear reality.

The blockchain is a perfect witness, it sees everything but if humans are unable to use it then it's dead to us.  

 

Whistleblower Threatens to Expose Corruption at Bitcoin Foundation
http://valleywag.gawker.com/whistleblower-threatens-to-expose-corruption-at-bitcoin-1538965958/@laceydonohue



If a breathless car chase wasn't cinematic enough to make you care about Bitcoin, how about a whistleblower threatening to publish an expose about corrupt elders and ominously signing off: "You have 72 hours"?

An "entrepreneur and former venture capitalist" who goes by the handle the Two-Bit Idiot declared "war" today in a blog post entitled Coup or Death for the Bitcoin Foundation? The blogger, whose name is Ryan Selkis, previously talked to Fortune's Dan Primack about leaking documents about Mt. Gox. In today's post, he threatened to publish a searing expose on Monday unless two of its board members resign. TBI also claims that the foundation's corporate sponsors "discouraged" him from airing Bitcoin's filthy laundry.

According to TBI, chairman Peter Vessenes and executive director Jon Matonis are not "ethically entitled" to retain their board seats in the Seattle-based non-profit because conflicts of interest and gross negligence. The most damning allegations are related to the disastrous implosion of Mt. Gox. In the early days, Mt. Gox was the largest Bitcoin exchange and a tent pole for the budding economy, hiding questionable practices.

TBI says Vessnes and Matonis got their money out through connections with Mt. Gox CEO Mark Karpeles, while $473 million swirled down the blockchain drain (emphasis mine):

On Monday, I plan to publish a full article which elaborates on these damning facts and much more:

1) The Foundation never once warned Bitcoin investors about keeping deposits in Mt. Gox, despite clear red flags dating back to at least April 2013. Nor did the Foundation craft or advocate for best practices such as technical transparency, deposit audits, or appropriate consumer protection disclosures. This was a colossal failure of leadership.

2) There is evidence that Bitcoin Foundation board members may have had direct access to Mark Karpeles which allowed them to personally deposit and withdraw funds from Mt. Gox, despite persistent delays for other customers.

3) There is a troubling and inappropriate overlap between Peter Vessenes' staff at his private company, CoinLab, and the Bitcoin Foundation's staff, which goes far beyond shared office space.

4) The current leadership has shown a stunning disregard for proper communications with its members. The importance of immediate resignations (rather than gradual) is highlighted by the Board's secret plans to move the Foundation's headquarters to London without input from members and sponsors.

5) Peter Vessenes has had a nine month conflict of interest regarding Mt. Gox given that his company CoinLab was involved in an active multi-million dollar lawsuit against Mark Karpeles and Mt. Gox, following a failed partnership. Both men remained on the board of directors, and the Foundation failed to draft adequate by-laws that would allow them to address situations such as this where directors had material conflicts, which would compromise their ability to act in the best interests of its members.

This egregious behavior and negligence may not be the worst of the information to come. I have been unable to reach representatives of the Foundation for comment on a myriad of other accounting issues related to the treatment of member donations.
True believers like to tout the fact that Bitcoin is intentionally decentralized, so an industry group like the foundation is about as close to an authority figure or overseer as you're going to get. The agency's website says:

Bitcoin Foundation standardizes, protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide.

TBI claims Vessenes and Matonis are at fault, rather than the foundation itself. But it's worth noting that both Krebeles and Charlie Shrem, the indicted founder of BitInstant, were formerly board members:


And for better or for worse, with all of its blue-chip sponsors and leading role to date in events such as the Senate Bitcoin hearings and NYDFS BitLicense hearings, the Foundation is the mouthpiece for the entire industry.

Peter Vessenes and Jon Matonis are not scapegoats. They are not innocent bystanders. And they are not ethically entitled to remain in their board seats through later this year.


TBI also claims that the foundation's corporate sponsors told him to keep his mouth shut, but doesn't name said sponsors. This list of platinum, gold, and silver foundation members mainly includes Bitcoin startups. Previous donors to the foundation include Wordpress and Fred Wilson from Union Square Ventures. Among investors, the most prominent and full-throated support has come from Andreessen Horowitz, which recently invested $25 million in Coinbase.

From TBI's blog post:

At this week's Texas Bitcoin Conference, I was fortified by near-unanimous agreement (and, at times, applause) that the current leadership must resign or be forced out of their positions on the Foundation. Yet I have also been warned that I am playing a dangerous game, with cunning and ruthless power brokers. I have been discouraged by corporate sponsors of the Foundation not to make a public stink which would be "counter-productive" and "irresponsible" for Bitcoin. Most would prefer to let the Mt. Gox scandal blow over, but I would rather wipe the slate clean definitively, blood or no.
TBI describes himself as a "truth-teller," making "the business case for #Bitcoin on its journey from speculative investment to world-changing utility" and clearly sees himself as the Edward Snowden of cryptocurrency.

What if someone spends Bitcoin to take him out before he can send documents to The Wall Street Journal, The New York Times, and others? TBI's got it covered:

If I get hit by a bus this weekend, my lawyers will release it.
If you have any information to share about the Bitcoin Foundation, please email nitasha@gawker.com.

Update: A previous version of this post said TBI was anonymous. His name is Ryan Selkis, as he acknowledged in this interview with Fortune.

the funny thing about investigation is sometimes patterns reveal evidence that is not otherwise obvious, sometimes 'side conversations' enable words, phrases, and opinions to be heard in different or more enlightening ways, and just like reading the same study material the 4th time extracts the 'a ha' moment the first 3x didn't.

if everyone contributes what they can, how they can, it will all come together

I will update this thread with your info: https://bitcointalk.org/index.php?topic=492776.msg5564359#msg5564359


I

pop-up or not, for the time his 'pop' is 'up' he should communicate with his potential customers in a way that will enable him to be reached, presuming he got the space to do business.

bummmer, bad enough the market is down for btc overall, and not really suited for storefront sales either, but to lose a customer who has traveled over 2 hrs to get there, that is a real shame.  

Was there no phone number to call?  did you leave a note for him to call you?   This doesn't serve the interest of either of you, I sincerely hope you guys work it out.

Please provide follow-up.  

this does not bode well at all




not difficult to happen considering all there is to consider

here's your hope

https://bitcointalk.org/index.php?topic=492776.0;topicseen





yup ...  if you don't see the sell don't do the buy.

take .25 of what you want to invest and throw it at the $610, hold the rest for something better, if it hits $610 twice make the full investment because it is likely going back up, but if it continues to go down and it hits $600 dump another .50 at it, sprinkle the remains where it feels good.

the more the coins are handled the more foot/finger prints are made visible and the more connections could be made

for example, in order to mix you must go to a mixer their computer records will show the coins going in by x isp at y timestamp

that mixer will either cooperate or be materially embroiled in a criminal investigation

now with that isp as the finger print you could look for other places where that isp has engaged other mixers, exchanges, etc ...

eventually the electronic finger prints and foot prints will lead to humans who will need to explain.  If the prints are MK, MG employees, and or relatives of either arrests would be.

 , but


I didn't get any of the evil ones  ...    hahahahaaa

if you look at the trend Igorr's crazy suggestion is more accurate than a $1000 btc anytime soon


as for the birdie told you something, just because someone buys a lot of btc doesn't mean the price goes up, what if someone else decided to dump a whole  lot of btc, and what if the amount of btc buyers are a whole lot less than avg -- the result is down, down, and down.

If the Mt Gox money is not found btc is too risky for scaleable and responsible investment


Media hype will increase the price temporarily (5 days), major media news will boost the price for about a week, as the hot air dissipates btc will sink.  The only two things that could bring the market rates back up in a meaningful way is:

1) a solution for the missing money issue, if it isn't found then any exchange can do it again
2) the exchanges provide proof of solvency, work with certified date, sign transactions, provide guarantees, have insurance, be certified by the community, be bonded, be more accountable, be more transparent, provide better customer service

if #1 happens the market will shoot up to $1000 within a week from wherever it is, if #2 happens the market will grow incrementally in response and relation to what is done and how many exchanges do it, but btc will be stabilized.

lf #1 and #2 occur especially if #2 is first the market will see $1000 within a week, and as much as $1400 within a month.  Keep in mind, my numbers would represent real growth if you add the hype you could see $2000 btc.  

I was peaking through today's fragile and tattered btc floor, I saw $500+ btc

Looks like if btc market is left to it's own devices btc will see $500-zone again next week, anyone have any media hype to artificially boost the position?

dude, it looks like you got it backwards, instead of Friday being the high for the week it will likely be the low for the week

keep that up you will get evicted from the speculation table, and sent to the holders' table 

You have a point there, looking at the translated version of the reorganization plea I did a search for 'stolen' which hit twice, I could not determine if the language surrounding it was speculation about a crime taking place and a suggestion that a criminal investigation commence; or a formal complaint that they believe a crime took place with the formal request for the criminal investigation.  

So, I agree with you, someone with standing in japan should make the police and/or fed agency criminal complaint.  

yup, arguably "an evil augury".

well, I'm glad for that, but in the mean time we should have found the money