Is DEA Agent Force Responsible For MtGox Collapse?

[ElectricMucus]

http://www.reddit.com/r/Bitcoin/comments/30xb6s/courtesy_of_mark_karpeles/

I smell a class action lawsuit from all MtGox customers coming soon.

I think it is only a 1st april fool (the joke) but a little bit previously....

It is already April 1st in some time zones, so it is all timely!

His Litecoin on mtgox joke is legendary, the conclusion priceless.

[spazzdla]

fucking pigs...

[sgbett]

I came across an interesting comment elsewhere by someone named ozlanthos and thought I would share.

I've been saying this for a while now. That the "exchange hackings" are being done by federal agents, or proxies for federal agencies. See unlike FRNs, the government can't ask the Federal Reserve to "print" more Bitcoin. Because of that, they can't keep devaluing the FRN at the rate they were, because the inflation would show in the price of Bitcoin and other cryptos. As a matter of fact, I am pretty sure that is why the Fed stopped QE to begin with, they couldn't hide the rate of release of new FRNs anymore. It's one thing when the FRN is falling in value at the same rate as the other fiat currencies, it's an entirely different matter when there are currencies like Bitcoin whose rate of production is not only fixed but deterministic, and orders of magnitude slower.

In attempts to dissuade people from investing in Bitcoin, the Fed has to distort the value of Bitcoin in contrast to Federal Reserve Notes. They can let the FRN strengthen by cutting back on QE, and increasing interest rates. Either of which will make the FRN a better store of value over the short-term. The problem is that many industries (oil specifically) have become DEPENDENT on cheap money flowing to the banks from the fed. Without the awesome rates the banks were getting (more or less FREE) exploration for sites to frack seems like a lame investment because of the cheapening prices of gas, and relatively low returns by comparison to conventional oil drilling. This negative feed-back loop has already gotten to the point where oil workers are being laid off by the thousands in the US and Canada.

All of this puts the fed in a bad spot. It could buy enough BTC to sell it at a loss, and cause major chaos on our exchanges, but, doing so would lose them money, and the market would correct too quickly for doing it to be worth it. In addition it would make everyone that sold them BTC richer. They could invest in networks to pull a 51% attack, but it would only work for 10 minutes. If they tried to mine, it would put the difficulty through the roof, make miners richer, and cost them as much to mine as it does everyone else. Everyone would know the fed got into mining, and the price would follow the difficulty. They have to steal it, or have someone else do it for them. It is the only way to get Bitcoin other than mining it, buying it (or trading for it...either of which makes traders richer), or selling something for it. Last I heard, they don't take BTC for Treasury Notes.....The markets behave the way they do because "someone" is selling Bitcoin in a way that seems to indicate that they didn't buy it, trade something of equivalent value, or mine it (meaning like they have no regard or concern for how much BTC is worth/costs)....you do the math...

-Oz

Wow, I bet there's so much going on that we have no clue about. How deep does this go?

Why did Josh Jones offer to buy everyone's goxcoins for 0.11BTC on the goXBT?

I'm not saying its aliens...

[rebuilder]

"No proof at all" about sums up how this reads to me.

[bigasic]

The whole saga, in fact everything to do with Bitcoin, is so goddamn far out that nothing would surprise me.

Judging by the way Mr Karpeles has communicated on occasion, it seems there's a lot more he'd like to share but is somehow forced not to. I think plenty of minds will be blown before Gox is ever put to bed.

The whole thing would make for a fascinating movie. So much drama in the way things are developing that could make for a great story, going deeper than the rise and rise of Bitcoin. Even an action-drama type of movie would do, not necessary a documentary format.

I know for a fact that FOX is making a movie. I heard that its going to fast tracked very soon... They were waiting for his trial to be over. Its going to be a very big budget movie. def. not a documentary.. A list actors, etc... I read that FOX purchased the rights of Silk road 2.0 when I say purchase the rights, they purchase the life story of the main people involved. too me, silk road 2 really isnt that interesting, but it makes sense that they purchased the rights just in case, so they have full control, who knows what will happen in the future, the arrest of MR. cark butt fuck Force and Shaun pound me in the ass bridges proves that theory.

In my opinion, the 2 agents didnt cause the collapse, but i think they damaged it. Who knows, shaun was a secret service computer guy, he is very capable of hacking most likely, so, maybe they did have something to do with it. I believe in Russ Ulbichts accounting file, he said that the DEA stole 2 million from him, so to me, that is a huge.. if they could steal 2 million from mt. gox, maybe they stole the whole thing. btw, I dont think that Foxs movie will be about mt gox, at least not yet, more proof or something else would have to happen to make it interesting, like a murder for hire, lol..

[Bit_Happy]

The whole saga, in fact everything to do with Bitcoin, is so goddamn far out that nothing would surprise me.

Judging by the way Mr Karpeles has communicated on occasion, it seems there's a lot more he'd like to share but is somehow forced not to. I think plenty of minds will be blown before Gox is ever put to bed.

The whole thing would make for a fascinating movie. So much drama in the way things are developing that could make for a great story, going deeper than the rise and rise of Bitcoin. Even an action-drama type of movie would do, not necessary a documentary format.

I know for a fact that FOX is making a movie. I heard that its going to fast tracked very soon... They were waiting for his trial to be over. Its going to be a very big budget movie. def. not a documentary.. A list actors, etc... I read that FOX purchased the rights of Silk road 2.0 when I say purchase the rights, they purchase the life story of the main people involved. too me, silk road 2 really isnt that interesting, but it makes sense that they purchased the rights just in case, so they have full control, who knows what will happen in the future, the arrest of MR. cark butt fuck Force and Shaun pound me in the ass bridges proves that theory.

In my opinion, the 2 agents didnt cause the collapse, but i think they damaged it. Who knows, shaun was a secret service computer guy, he is very capable of hacking most likely, so, maybe they did have something to do with it. I believe in Russ Ulbichts accounting file, he said that the DEA stole 2 million from him, so to me, that is a huge.. if they could steal 2 million from mt. gox, maybe they stole the whole thing. btw, I dont think that Foxs movie will be about mt gox, at least not yet, more proof or something else would have to happen to make it interesting, like a murder for hire, lol..

Fox, Chernin Set Dennis Lehane To Adapt ‘Silk Road’

EXCLUSIVE: 20th Century Fox and Chernin Entertainment have set best-selling author Dennis Lehane to script Silk Road, a fact-based tale taken from an article that Joshua Davis is writing for the Epic website, which is devoted to film-friendly longform journalism. It’s the true story of a young kid who was arrested for putting out a hit on the clients of the Silk Road, the illegal online bazaar he created where one could buy illegal goods including drugs or services like contract killings....
http://deadline.com/2013/10/fox-sets-dennis-lehane-to-adapt-silk-road-613293/

The link is ~1.5 years old, I wonder how soon the movie will be ready?

[gentlemand]

The link is ~1.5 years old, I wonder how soon the movie will be ready?

It's such a fast moving story that they'd be better off letting it simmer and fully conclude. You don't want to spend a few tens of millions only for it to be irrelevant when it comes out. It's also certain to become an awful lot juicier yet.

[bigasic]

Actually, dennis lehane excused himself from the project about a year ago, he stated that he had other projects, but i dont buy it, it  probably had something to do with money, but who knows for sure. Yea, they are going fast track it, there will be a very lengthy article, almost a book size that will be released in  print in couple weeks, then it will be available online after that. They are basing the script off this article....

I need to get a life..lol.

If a studio wants to, they can get a movie in the can ( i guess now in the hard drive) in less than 6 months, 6 week shoot, 1  month of editing, etc 1 month of reshooting and special effects and sound... So, Im thinking this will be out by Christmas, but they need to hurry or it wont make as much money...Once the script is in the bag, they really could get it done in 4 months, but they will want to to a ton of promotions, etc...

But from what i hear, this is like at the top of the list for Fox right now... (plus they wanted to wait til the sundance film and other festivals were over so that they can pitch the idea to a list actors, directors, lighting guys, editors, etc..

From what i heard, Fox didnt want to wait til the trial was over, but the writers insisted...But the Rogue agent busts adds a whole new dimension to the film, you could almost make a film just on those two guys, they really fucked a lot of people over, not just the silk road theft, but mt. gox, they tried to take 200 plus spoondoolies from customs, the list is quite long.. and it seems like something is added every day...