MtGox withdrawal delays [Gathering]

[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.

[atlosas]

I didn't follow the thread for some time, can some1 summerize what is new? How is the court case going?

[macsga]

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.

I must say that (without my tinfoil hat on) I like your approach. It's based on good old "follow the money" principle. OK, the numbers may not add up perfectly, but it's a pretty close call to be honest. I tend to disagree with your last sentence though. I'd call it wishful thinking, we (myself included) want it to happen, but it won't. The reason is that it will be extremely difficult to find out who is who among the (allegedly) 1M MtGox customers... but then again... you never know!

[solex]

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.

I must say that (without my tinfoil hat on) I like your approach. It's based on good old "follow the money" principle. OK, the numbers may not add up perfectly, but it's a pretty close call to be honest. I tend to disagree with your last sentence though. I'd call it wishful thinking, we (myself included) want it to happen, but it won't. The reason is that it will be extremely difficult to find out who is who among the (allegedly) 1M MtGox customers... but then again... you never know!

Because MtGox had 80% of the market up to the April 2013 bubble, then it is inevitable that major bitcoin "businesses" (using the term loosely) like Bitcoin Savings and Trust, Silk Road would have had accounts. MtGox likely handled a lot of their btc/fiat flow.  As big customers it follows that MK communicated to the owners: Shavers and DPR.

[BitCoinNutJob]

before going down gox was losing market share at an increasing rate if they were still open now they've probably be at BTC-e volume maybe less.

[macsga]

before going down gox was losing market share at an increasing rate if they were still open now they've probably be at BTC-e volume maybe less.

That happened because of their constantly declining QOS of their support team. Many people (including myself) got out when they wanted to sell ie: 5 BTCs and the withdrawal took 3 months(!) to get through, if not at all. They sucked day by day more. Was it because of the missing BTCs? Other reasons? Who knows.

Just for the sake of truth though, I managed to withdraw BTCs out (about 10) on 23 of January (If I can recall correctly). No fiat though. They claimed back then that their Bank associate had been causing problems. True? Lie? Who knows?

[solex]

before going down gox was losing market share at an increasing rate if they were still open now they've probably be at BTC-e volume maybe less.

Yes. Gox really lost market share after about June 2013 when their fiat withdrawals choked up, only 4 months before Ulbricht was arrested.

[zinjo]

heh i'm lazy to read everything here. But can someone explain what happened with https://www.mtgox.com/
I didn't even remember that i had account there, today i tried to login with my account and wonder that i had balance $218
So yeah i guess he closed website or something and this can't be withdrawed right ? c:

[solex]

heh i'm lazy to read everything here. But can someone explain what happened with https://www.mtgox.com/
I didn't even remember that i had account there, today i tried to login with my account and wonder that i had balance $218
So yeah i guess he closed website or something and this can't be withdrawed right ? c:

He spent your $218 on frappuchinos. Japan, very expensive.

[zinjo]

heh i'm lazy to read everything here. But can someone explain what happened with https://www.mtgox.com/
I didn't even remember that i had account there, today i tried to login with my account and wonder that i had balance $218
So yeah i guess he closed website or something and this can't be withdrawed right ? c:

He spent your $218 on frappuchinos. Japan, very expensive.

Lmfao, my friend also have over $4k 
I hope he will be killed one day for this dick move.

[bitcoinvest]

UPDATE ON www.forever.net   

looks like forever wasn't a good choice on the domain

one more bussiness that is going down with CEO, Mark Karpeles





Dear Valued Customers

We deeply thank you all for using FOREVER.NET. However the decision has been made to close all services of FOREVER.NET on February 15th, 2015, Sunday 23:59 JST.
All users are able to access to Control Panel until February 15th, 2015. Thank you for your understanding.

The FOREVER.NET Support Team

January 7, 2015

TIBANNE Co. Ltd.
Mark Karpeles, CEO
For further information, please contact at Forever.net Customer Support.

◆FOREVER.NET Customer Support
support@forever.net
※Contact form or email are available 24 hours. We will respond in order within a business hours: Monday to Friday, 10:00 ~ 17:00 local time.

Download the operation manual PDF version here.

[macsga]

UPDATE ON www.forever.net   

looks like forever wasn't a good choice on the domain

one more bussiness that is going down with CEO, Mark Karpeles





Dear Valued Customers

We deeply thank you all for using FOREVER.NET. However the decision has been made to close all services of FOREVER.NET on February 15th, 2015, Sunday 23:59 JST.
All users are able to access to Control Panel until February 15th, 2015. Thank you for your understanding.

The FOREVER.NET Support Team

January 7, 2015

TIBANNE Co. Ltd.
Mark Karpeles, CEO
For further information, please contact at Forever.net Customer Support.

◆FOREVER.NET Customer Support
support@forever.net
※Contact form or email are available 24 hours. We will respond in order within a business hours: Monday to Friday, 10:00 ~ 17:00 local time.

Download the operation manual PDF version here.

Woah! I didn't expect that. He was so competent, so smart CEO, so honest, the business was booming (literally)...
Seriously, why this is not surprising at all?

[zinjo]

UPDATE ON www.forever.net   

looks like forever wasn't a good choice on the domain

one more bussiness that is going down with CEO, Mark Karpeles





Dear Valued Customers

We deeply thank you all for using FOREVER.NET. However the decision has been made to close all services of FOREVER.NET on February 15th, 2015, Sunday 23:59 JST.
All users are able to access to Control Panel until February 15th, 2015. Thank you for your understanding.

The FOREVER.NET Support Team

January 7, 2015

TIBANNE Co. Ltd.
Mark Karpeles, CEO
For further information, please contact at Forever.net Customer Support.

◆FOREVER.NET Customer Support
support@forever.net
※Contact form or email are available 24 hours. We will respond in order within a business hours: Monday to Friday, 10:00 ~ 17:00 local time.

Download the operation manual PDF version here.

lmfao what a dumbfuck..

[el_rlee]

Does this have anything to do with the parent company TIBANNE Co. Ltd.?

[macsga]

Does this have anything to do with the parent company TIBANNE Co. Ltd.?

I believe Tibanne is the mother company of forever.net (and MtGox, back in its days of glory)...

That "Dear Valued Customers" though... Priceless...