MtGox withdrawal delays [Gathering]

[JorgeStolfi]

2 hours ago M.K. retweeted again after 21/12/2014.....
and of course not a single comment on the news that speaks about 99% fraud ....and an insider...
let's see..

Try to imagine yourself in his position -- guilty of either deliberate fraud, or of abysmal incompetence and shameless lies to cover it up.  His behavior is quite expected.

[bitcoinvest]

Is he in jail yet?

3 hours ago he retweeted something so probably no.....

[smoothie]

Is he in jail yet?

3 hours ago he retweeted something so probably no.....

Don't you know they have twitter-ing capabilities within Japan prisons? lol j/k 

[leopard2]

Is he in jail yet?

3 hours ago he retweeted something so probably no.....

In America he would be in jail or singing like a tweety bird; IMHO white collar crime is much less risky in Japan. 

[el_rlee]

Is he allowed to leave Japan?

[JorgeStolfi]

Is he allowed to leave Japan?

I don't think he has been charged with any crime yet.  The bankruptcy process is a civil one, formally "against" the company, not the managers.

[macsga]

Is he allowed to leave Japan?

He runs a second business there offering hosting of webservers and... urm... security consultation...
http://forever.net


PS: This is ACTUAL pic a couple of mins before posting this

[bitcoinvest]

Is he allowed to leave Japan?

He runs a second business there offering hosting of webservers and... urm... security consultation...
http://forever.net


PS: This is ACTUAL pic a couple of mins before posting this

this was the guy running the #1 Bitcoin Exchange?? OMG !

[bitcoinvest]

http://bitcoins.com/
https://www.kalyhost.com/

SAME ERROR!!!!

Database access error, please retry later


now that is funny



EDIT: after some hours back on line again... seems that someone informed M.K. or did he asked for help?? hahahahaha

[DrApricot]

There is no official police report yet, just "According to sources in the Metropolitan Police Department".
I am looking forward to read an official police report. If they will come to similar conclusions as the "Willy report",
then I would expect a seriously bearish influence on the market. Quoting from the "Willy report":

It needs to be recognized that, whether intentional or not (though plausible ignorance only goes so far), Mt. Gox has effectively been abusing Bitcoin to operate a Ponzi scheme for at least a year. The November “bubble” well into the $1000’s – and possibly April’s as well – was driven by hundreds of millions of dollars of fake liquidity pumped into the market out of thin air (note that this is equivalent to “with depositors’ money”). It is only natural that the Bitcoin price would deflate for around 5 months since its December peak, since there was never enough fiat coming in to support these kind of prices in the first place.

....but, what about the missing $26 million? Mt. Gox's banks must have known all along that it was an inside job. Maybe this is what really happened:

https://www.youtube.com/watch?v=6phynr2fdVU

[macsga]

There is no official police report yet, just "According to sources in the Metropolitan Police Department".
I am looking forward to read an official police report. If they will come to similar conclusions as the "Willy report",
then I would expect a seriously bearish influence on the market. Quoting from the "Willy report":

It needs to be recognized that, whether intentional or not (though plausible ignorance only goes so far), Mt. Gox has effectively been abusing Bitcoin to operate a Ponzi scheme for at least a year. The November “bubble” well into the $1000’s – and possibly April’s as well – was driven by hundreds of millions of dollars of fake liquidity pumped into the market out of thin air (note that this is equivalent to “with depositors’ money”). It is only natural that the Bitcoin price would deflate for around 5 months since its December peak, since there was never enough fiat coming in to support these kind of prices in the first place.

....but, what about the missing $26 million? Mt. Gox's banks must have known all along that it was an inside job. Maybe this is what really happened:

https://www.youtube.com/watch?v=6phynr2fdVU

That was hilarious. The story though... hmm, kinda feels like true!

[bitcoinvest]

up to now we have no news... i wonder why the newspaper told that 3rd of Janurary would post something out and yet nothing....

[igorr]

Bitstamp is dead !!!

https://www.bitstamp.net/


View Screen Capture

[bitcoinvest]

the way i see it we have gox # 2

we can say we got goxed and we got bitstamped

but in any case i hope they recover and most important customers have back their BTC

according to the report customers should not worry but same reports we had one year ago with mtgox



EDIT 09/01/2015: bitstamp.net is back on line!

That is great news for the community i think and of course for the customers and their Bitcoins ....

[freedombit]

For those following MtGox, please take a look at a chart of data from Dree12's list of Bitcoin heists.

A quick visualization of the data:



***A shout out to Dree12 for supply the data that went into this chart.***

What are your thoughts?

[bitcoinvest]

what is your point on that?

[bitcoinvest]

Mt Gox CEO Mark Karpeles Implicated in Silk Road Trial


As you can read in coindesk:

Reporters from the courtroom took to Twitter to address his claims; two suggested that the defense team is building a case to argue Karpeles is actually the "real mastermind" behind the Silk Road.


Read the full article here:
http://www.coindesk.com/mt-gox-ceo-mark-karpeles-implicated-silk-road-trial/


and here also:
http://www.wired.com/2015/01/dhs-believed-mt-gox-ceo-might-silk-roads-secret-mastermind/




i wait for your comments on that because the case is getting much bigger here for MtGox and of course for M.K.

[macsga]

If it is true, that could explain a lot. In any case, there's a possibility he was cooperating with the DEA on this (intern?)... Let's see how this is unfolds.

[JorgeStolfi]

Ross's defense may be able to exploit it, I won't guess on that.

But the proposition seems nonsense to me.

As often happens in these cases, for a while the detectives were amassing information about DPR but did not know who he was.  They had some suspects, including Mark, and tried hard to fit them to that information, with not much success.  Then finally they "discovered", Ross, and suddenly everything fit together. 

[freedombit]

what is your point on that?

Look at the data - most heists are very small. However, there are three heists that are very large. It is kind of like a puzzle, and fortunately for us, the pieces are SO BIG and there are SO FEW that it seems to be fairly easy to start to put the pieces together.

 850,000    Total MtGox loss according to rumors (I've never seen this as an official number).
 744,405    Total MtGox loss according to Leaked Emergency Plan.

 171,995    Amount lost on Bitcoin Savings and Trust.
 263,024    Amount Seized from Silk Road by DHS.
 207,000    Amount of MtGox Suddenly "Found".
642,019  Sum of the three amounts above.

624,408    Amount of MtGox customers' coins that are "temporarily unavailable".

All three of these events; Bitcoin Savings and Trust, Silk Road, and MtGox are tied together.

All of the people closest to both sides are not saying a thing:
https://bitcointalk.org/index.php?topic=871094.0;topicseen

Negotiations are happening behind the scenes. DHS, FBI, CIA, NSA or some other government agency from the US started seizing hardware and coins, but a handful of people at MtGox managed to protect a good portion of the coins by accidentally losing them. MtGox depositors got impatient, and Karpeles was forced to declare insolvency to protect himself from government officials that might have been a little over zealous. There may have been some "illegal" activities happening to protect the remaining Bitcoin, but it was viewed as justified because the prior seizures themselves are arguably "illegal". Irrational people on both sides did a lot of name calling, and over time, both sides realized how bad this looks for both sides. So, again, negotiations are happening. Seized and sold bitcoins are being "recovered" through drop and shop techniques on the market, pushing exchange rates down and grabbing BTC when possible. Eventually Kraken will announce that it is returning the the Bitcoin to early adopter Bitcoin users that never did a damn thing to deserve this from any of the parties involved.

Okay, so this last line is hopeful conjecture, but if it doesn't go down like this, it will be a major stain on all parties involved. If it does end like this, some of those moon travelers out there might get to put their suits on early.


Edit: if someone would like to footnote and provide sources for my numbers above, that would be nice for the community. I was going to but am a bit tired. Maybe another day.