Often i read the question: where is the missing $$$ from mtgox? The missing bitcoins are gone due to the btc bug (they say), but where are the dollars ?
Answere: they didnt exist.
I just want to remind you:
https://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/Mark Karepeles created the dollars himself and entered them into his database. But these dollars never existed in the mtgox bank account.
Total BTC bought: 268132.73433409
Total USD spent:
$111,770,744.48"So basically, each time, (1) an account was created, (2) the account spent some very exact amount of USD to market-buy coins ($2,500,000 was most common), (3) a new account was created very shortly after. Repeat. In total, a staggering ~$112 million was spent to buy close to 270,000 BTC – the bulk of which was bought in November. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this may be why. Not Chinese investors, not the Silkroad bust – these events may have contributed, but they may not have been main reason. But more on that later."
dont forget this
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