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Glad Roger Ver came in here also. It would be wonderful if you could keep us informed with developments Roger as you may get information before the general public.
Personally I lost 5/6 of my BTC - at a bad time also. It's set me back. But that's my fault.
Anyway we all make mistakes. You let yourself be the mouthpiece for Gox, whether conscious or not. And it's looking quite clear they were in deep shit already. Just be so careful from now on, a man in your position.
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Just wait until whatever GOXXX is hiding is released. You'll see that price correct pretty quick. I think $1 is probably low, but I wouldn't be surprised if it stayed in the $100-$200 range.
One should break into their offices and steal everything. What, a dozen computers? a copier or two maybe? In a locked and guarded building? It would just be easier to open my own exchange and rob people for 367 million... lol What about the big bouncy balls? I'd buy one of those for $50 as a collector's item. |
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"Temporarily unavailable"
could be referring to the accounts that have been frozen by the US because of their links to Silk Road. I believe there are a number of them and perhaps Mark doesn't even have the private keys for these coins anymore.
I've read a lot of speculation about this (including time-stamped cold storage on stolen coins etc.) but unfortunately I fear the more mundane explanation - that Mark is simply referring to the fact that withdrawals have not yet been opened - is the most likely. And also that this is just him going through the motions of drawing out the official line started weeks ago... when he realised Gox had completely run out of juice. |
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1. Gox was robbed of a massive amount of coins (800k+) at some prior point in time, possibly June 2011, and has been operating a fractional reserve since.
This is incredible. Really really bad news. I find it impossible to believe that this, if it happened, was only known to Mark and perhaps one or two key members of his staff. Others must have been aware of this.
If you are right, then the fact that the theft of such a large number of coins has been covered up for so long is extremely damaging.
He is only speculating in the blog post when he says that. No facts, just guesses. That's why I said "your proposed point" |
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I think you're missing the more important point from that scandal, which was the first GOXXXing that I remember anyhow... It was revealed that they didn't have any outside parties auditing their books or verifying their security practices.
That never changed!
Shrem says they were getting auditedHe was also very confident about the "good news" this week. Suspicious as hell if you ask me. |
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I dont know about you all, but I do want to see Mark locked up. He has been allowing people to trade on his defunked site for months knowing full well that they dont have the cash or BTC to cover the trades. Off with his head!  Read this: http://jesse.forthewin.com/blog/2014/02/unilateral-statement-regarding-fucked-up-shit-and-the-greater-good.htmlScroll to near bottom and read the propositions, point 1. Gox was robbed of a massive amount of coins (800k+) at some prior point in time, possibly June 2011, and has been operating a fractional reserve since.If everything was stolen in 2011, then we could possibly see a massive cover up unveiled, involving more people than just Karpeles. I fail to see how only he would notice the theft of 800k coins. |
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Thanks for the article.
Your proposed point stands out:
1. Gox was robbed of a massive amount of coins (800k+) at some prior point in time, possibly June 2011, and has been operating a fractional reserve since.
This is incredible. Really really bad news. I find it impossible to believe that this, if it happened, was only known to Mark and perhaps one or two key members of his staff. Others must have been aware of this.
If you are right, then the fact that the theft of such a large number of coins has been covered up for so long is extremely damaging.
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Let's pretend that either through theft or mild to moderate mental retardation you were responsible for 1,000,000 people losing $367 million dollars.
What would you do?
If it were me, I would shut down my office, and my website, stop talking to people and hire a lawyer.
Oh, wait...
And yes, we knew all along it was a bad decision since the first big goxxxing in 2011.
Come on bitcoinminer, at least come up with some original trolling and not just a paste of what you had in the other thread!  |
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Moot point. Sorry. This drives me nuts.
That's quite a pacific thing to get annoyed about if you ask me. You could of just ignored it. No itz alright. Thanx bitconminor!!  (Moot, moot, moot....) |
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Here goes... The following document gets leaked:  March Crisis plan!
Urgent Mark Karplees jailbroak feasibility study!
A call to Major Figures in the Bitticoin community.
We at MtGox are worried that Mark is cracking under FBI pressure and that any day he will reveal himself to be none other than Satoshi Nakamoto. The fallout from this will surely spell THE END to all computer programmers EVERYWHERE in the entire UNIVERSE!!!
You must heed our call and send thousands of cheap coins VERY QUICKLY to pay for our Getaway Vehicle!
Then Mark Karpooles needs a spcial ID CARD tha twill help him to go wherever he wants. It must look like this and all memebers of the Bitcoin Foundtation must send arbed coinz (right now) to make sure it is of highest quality!
Once far away Mark promises never ever ever ever to tell NOBODY at all crosses his heart and hopes to die (because he surely deserves to). IF.....
You take advantage of our extremely top-level links with Bitcoin to buy as many cheap coins as quickly as possible from TURTLE MOUNTAIN© (PS that is our new brand!!!) so that Marc can have coffee whenever he wants.
The fate of every coin is IN YOUR HANDZ NOW secret, solvent investor !!![/size] |
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lol yeah that might be the reason why actually.... i speak no lie though there have been studies on this & its kinda obvious anyway.
I dont think its entirely peoples fault for having money in gox, they just did what they could, shit decision though yup & nobody has to help them
I fall into this category as I transferred funds in recently. But some have been trying to get out for months and been stuck. These people are entirely blameless IMO. I disagree. The writing was on the wall about 8 month ago when GOX stopped doing USD wire transfers and claimed "TWO WEEKS" was their delay which turned out to be FOREVER. Those who lost in GOX got what was coming to them. If you dont do your due diligence then you are asking to get burned. On behalf of myself I agree with you. |
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That would change my current opinion of the man in a second. Come on Bitcoin Jesus - "all in" to Gox! |
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would be nice to hear from another source also
I agree - just saying "three big companies" was exciting yesterday - but its yesterday's news! Give us something more now. EDIT: oh yeah, and the other source! |
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Just realised that my comment to Roger Ver on his YouTube Video only shows up to me! Clever Roger is selecting what goes into comments and what does not. The poor guy must be getting hell if some of the authorised comments are anything to go by!  Anyway here is mine: "Yes you are right Roger: we need more decentralization so that we don't end up trusting anyone else, because anyone trusting your broadcast claiming Gox was solvent when we now all know that they have not been for a long time, lost out. Some people lost EVERYTHING. You should be ashamed today spinning this into the "wider picture". I am afraid that you will remember your "favour to Gox" as one of the biggest mistakes in your life. And you will probably be reminded of this by people over the years to come. In my opinion just say "I am very sorry for publicly backing Gox at a time when we now know they were deeply insolvent" as sincerely as you can and then be quiet for a while. Don't fudge the issue now. Sorry to be so blunt but I was one of those people who took your word quite seriously, although ultimately my decision to hold funds in Gox was of course my own. I made a stupid mistake." You may think I'm a trollish asshole for publishing that but this latest video is about as disingenuous as it gets. Roger trying to cover his back as quickly as he can and help us all to "move on". |
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lol yeah that might be the reason why actually.... i speak no lie though there have been studies on this & its kinda obvious anyway.
I dont think its entirely peoples fault for having money in gox, they just did what they could, shit decision though yup & nobody has to help them
I fall into this category as I transferred funds in recently. But some have been trying to get out for months and been stuck. These people are entirely blameless IMO. |
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meh
Life changing amount of money lost by who?....him? he probably lost 2% at most, same with eric voorhees moaning about losing 550, its a tough loss but both multi millionaires.
These early adopters could help alot more, bitcoin is gunna lose alot of hardcore enthusiasts who got burnt by gox. There will be new blood at some point sure...
If im roger ver id be looking into a gox take over, limit withdraws & get it up and running, remove CEO & staff... its no longer gox then & customers dont get burned.
Smoothie i know you may probably disagree, i dont want to argue ok really cant be bothered:)
Some people really have lost their entire savings through this. Of course it is everyone's own decision what they do with their money but we are talking real "life-changing" amounts here. "poorer" people do silly things like hold more money than they should have in gox, it happens for a # of reasons. Its a socioeconomic problem, rich people on average make better decisions. In this case hold lesser % in gox. Its nothing new, it will happen again & again. edit: yep i know intelligence is another variable The amount of stupid decisions being made by the Bitcoin richlist is astounding - guess they haven't been rich for long enough eh?  |
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To make myself clear. I do not think Karpeles only created BTC out of thin air for the _supposed_ BTC he lost to _supposed_ scammers.
I believe he created WAY WAY more goxBTC out of thin air than most would dare to think. Pushing the price that low, some of the users now might own incredible amount of fake goxBTC far above the 750k he mentions. Same goes for the USD part.
In such a case, you cannot simply trust their books. But who can you trust then? Taking the company just to find out you owe 1 billion BTC later and who knows how much USD will NOT be fun...
Well I suppose it could be that there was no leak of coins - they had all been withdrawn correctly - and that you are right in the sense that he created fake BTC over and above the number of coins in existence (and not only that he had an IOU for a real BTC on his books when that real BTC had been stolen). That - the idea that in the end in fact he was running a true BTC ponzi - would be a huge relief to those who rue the fact that 6% of the BTC in circulation have become black market coins. |
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But it can't really be much worse than what is being said already: that they have almost zero of all funds held by customers! liabilities are not just what they owe to the customers. Plus, how do you know if he did not lie about how many customers are out there he owes how many USD/BTC to? What if he just created a few billions fake BTC and passed them onto him as the owner. His personal bitcoins stored on MtGox. What if he sold those in return for real USD? What if he also created fake USD and sold those for real BTC? It gets so mind boggling i cannot even think it out. You have to be VERY careful with this rat. This is not someone who was out just for the money, but a paid BTC assassin by someone high up.... The truth could be way way more complex than we like it... No I still don't think it can be much worse than what is being said: everything that the books say the customers have in their accounts is owed without any funds to pay. This is the rock bottom scenario, and it makes the most sense looking at what is going on. It is likely that Karpeles has known about this for a long time but has been paralyzed by a mix of stupidity, laziness and fear. I think it will come to light that he faked BTC balances for his accountants. Whether or not he embezzled funds also remains to be seen. Of course it is possible that the company also owes massive, hitherto undiscovered debts - to Starbucks for example. But the scenario we are being presented with today already takes into account your idea of creating BTC balances out of thin air. That is what is being insinuated already. |
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Personaly, I don't even see a takeover/buyout to be a viable option.
What do you get for your money? A client base that hates your guts basicaly. Most of them will pull out ASAP.
Sure they may sell off some of their assets. The value of their software is highly questionable... And the name is just synoymous with incompetence.
I think Karpeles is getting the hate. I don't think many would swap that hate onto a new owner - they'd be so relieved! |
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