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Author Topic: mtgox has no incentive to insider trade; my friend thinks otherwise  (Read 1181 times)
tanerlorn (OP)
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June 27, 2011, 01:27:58 AM
 #1

Who is crazy, me or him?


(8:46:23 PM) friend: wall street folks are highly regulated
(8:46:25 PM) friend: by sec
(8:46:33 PM) friend: and tehy still trade their own accts
(8:46:41 PM) friend: theyr looking at jail time
(8:46:44 PM) friend: massive jail time
(8:46:56 PM) friend: whats gonna stop carpeles
(8:47:03 PM) friend: when nothing is regulated
(8:47:29 PM) me: thats the only way u can have a truly free market sadly
(8:47:38 PM) me: whats gonna stop him is if he insider trades
(8:47:42 PM) me: he loses all his business
(8:47:47 PM) friend: and 2 he isnt the best of moral characters on earth
(8:47:52 PM) me: prove it
(8:47:55 PM) me: ur seriously just
(8:47:59 PM) me: pulling accusations out of thin air
(8:48:03 PM) me: with zero evidence
(8:48:06 PM) me: its funny tho
(8:48:11 PM) me: just know ur not convincing anyone
(8:48:13 PM) me: except maybe urself
(8:48:16 PM) me: and ur bitterness
(8:48:20 PM) me: towards his 250k btc
(8:48:29 PM) friend: i didnt even know he had 250k
(8:48:30 PM) friend: btc
(8:48:32 PM) friend: until u told me
(8:48:34 PM) me: it was prob satoshis 250k anyways
(8:48:41 PM) me: karpeles prob only has a small amount
(8:48:44 PM) me: like 30k btc
(8:48:50 PM) me: who else would have 250k
(8:48:52 PM) me: but satoshi
(8:49:00 PM) me: that explains the 1500 btc
(8:49:01 PM) me: from 2009
(8:49:31 PM) me: whatever
(8:49:33 PM) me: u got goxed
(8:49:39 PM) me: i never had an account there
(8:49:42 PM) me: did u get your account back?
(8:50:31 PM) friend: yeah
(8:50:42 PM) me: why do u hate him then
(8:51:03 PM) friend: i dont hate him
(8:51:17 PM) me: yeah
(8:51:20 PM) me: i think u do
(8:51:24 PM) me: u talk like u do
(8:51:24 PM) friend: i thought about how it went from 32 to 10
(8:51:29 PM) me: it went from 32 to 10
(8:51:33 PM) friend: and that costed me 700$
(8:51:34 PM) me: because iidiots were stupid enoguh to buy
(8:51:35 PM) me: at 32
(8:51:42 PM) me: when that was overpriced
(8:51:46 PM) friend: no
(8:51:47 PM) me: so speculators came in and took their profits
(8:51:51 PM) me: that is how a free market works
(8:51:52 PM) friend: because someone sold huge amt
(8:51:58 PM) me: do u understand this? y/n?
(8:51:58 PM) friend: like 30k 30k 30k
(8:52:10 PM) friend: yes i do
(8:52:11 PM) me: yeah, someone can sell a huge amount in a free market, that is how it is supposed to be, do you understand? y/n?
(8:52:17 PM) me: ok
(8:52:17 PM) friend: yeah
(8:52:19 PM) me: so whats ur problem
(8:52:24 PM) me: u bought at 32
(8:52:25 PM) friend: but it was most likely
(8:52:26 PM) me: if u had held onto them
(8:52:33 PM) me: youd only be down 16 apeice
(8:52:36 PM) me: and prob even in a month
(8:52:45 PM) me: i just dont see how u can blame the exchange
(8:52:51 PM) me: for u voluntarily trading for btc at 32 each
(8:52:57 PM) me: they did not force u to trade for btc, y/n?
(8:53:16 PM) friend: LISTEN
(8:53:19 PM) friend: stop typing
(8:53:22 PM) friend: and LISTEN
(8:53:37 PM) friend: a free market is good, i agree.
(8:53:38 PM) friend: BUT
(8:54:04 PM) friend: nothing can get organized
(8:54:15 PM) friend: mtgox is unregulated
(8:54:39 PM) friend: too easy for them to call there friends
(8:54:42 PM) friend: and say hey
(8:54:50 PM) friend: theres a dark pool at 31.8
(8:54:57 PM) friend: that is 60k
(8:55:15 PM) friend: get it
(8:55:35 PM) friend: there is no one with orders over 3k
(8:55:37 PM) friend: or 10k
(8:55:51 PM) friend: we can see everyones acct balance
(8:55:56 PM) friend: we control the market
(8:56:07 PM) me: ok
(8:56:18 PM) me: u just dont understand
(8:56:20 PM) me: it would get out
(8:56:24 PM) me: and theyre business wouldbe crippled
(8:56:26 PM) me: for one score?
(8:56:28 PM) me: when they can just rake
(8:56:32 PM) me: and make infinite money slowly
(8:56:34 PM) me: not all ppl tihnk like u
(8:56:40 PM) me: just trying to make that one BIG FAST CASH SCORE
(8:56:46 PM) me: some ppl are content to slowly make guarantee money
(8:56:48 PM) me: get it ?
(8:56:51 PM) friend: how would it get out?
(8:56:58 PM) me: things like that
(8:57:02 PM) me: just have a way of becoming known
(8:57:05 PM) me: too many ppl get invovled
(8:57:08 PM) me: u gotta bribe them all
(8:57:14 PM) me: eventually one of them thinks they arent getting enough
(8:57:16 PM) me: go puiblic with it
(8:57:18 PM) me: hapens all the time
(8:57:19 PM) me: and even so
(8:57:22 PM) me: if it NEVER gets out
(8:57:25 PM) me: it IS NOT WORTH THE RISK
(8:57:29 PM) me: hes making 3k BTC A DAY FREE MONEY
(8:57:31 PM) me: for running a site
(8:57:33 PM) me: why RISK IT ALL
(8:57:35 PM) me: EVEN RISK IT
(8:57:38 PM) me: EVEN IF NOONE EVER FINDS OUT
(8:57:39 PM) me: WHY RISK
(8:57:46 PM) me: WHEN U CAN GUARANTE MAKE .65% OF EVERY TRADE
(8:57:48 PM) me: AND RAPE ON FEES
(8:57:50 PM) me: CAN U EXPLAIN WHY
(8:57:51 PM) me: WHY
(8:57:52 PM) me: WHY SOMEONE
(8:57:53 PM) me: WOULD EVER
(8:57:53 PM) me: BE THAT
(8:57:54 PM) me: STUPID
(8:57:55 PM) me: EVER
(8:57:56 PM) me: ?!?!?!?!?!?!??!
(8:57:58 PM) me: !?!?!?!??!?!?!?!
(8:57:59 PM) me: !?!??!?!?!?!?!??!?!?!
(8:58:00 PM) me: no
(8:58:01 PM) me: u cannot
(8:58:04 PM) me: because noone would
(8:58:08 PM) me: noone in their right mind u
(8:58:10 PM) me: u might do it
(8:58:13 PM) me: cause ur literally insane
(8:58:14 PM) me: in the membrane
(8:58:16 PM) friend: why would multi millionaires
(8:58:18 PM) me: but no rational human woudl
(8:58:20 PM) friend: inside trade
(8:58:23 PM) friend: on wall street
(8:58:31 PM) friend: they are raking in 20m a year
(8:58:33 PM) me: to get more money
(8:58:38 PM) friend: EXACTLY
(8:58:39 PM) me: with no risk
(8:58:42 PM) me: because they work for wall street
(8:58:43 PM) friend: and they are closely regulated
(8:58:44 PM) me: they can just quit
(8:58:47 PM) me: and go work at another firm
(8:58:50 PM) me: if they get caught
(8:58:53 PM) me: u really think these ppl
(8:58:56 PM) me: have to face up for their actions?
(8:58:59 PM) me: its not af ree market dude
(8:59:00 PM) friend: no if they get caught
(8:59:01 PM) me: all government involved
(8:59:03 PM) me: all bribes
(8:59:05 PM) friend: they get fucked
(8:59:07 PM) me: its incredibly corrupt
(8:59:13 PM) me: ok
(8:59:18 PM) me: so then prob only 1% of ppl do it then
(8:59:23 PM) me: or its really hard to catch
(8:59:26 PM) me: cause noone making 20m a year
(8:59:28 PM) friend: enron
(8:59:28 PM) me: would be that greedy
(8:59:30 PM) me: unless their iditso
(8:59:32 PM) me: ok enron
(8:59:35 PM) me: one company out of 1,000
(8:59:36 PM) friend: one of the dudes committed suicide
(8:59:37 PM) me: way to prove my point
(8:59:43 PM) friend: yeah
(8:59:48 PM) me: im saying theres a 1% chance someone is scum
(8:59:50 PM) me: and does it
(8:59:53 PM) friend: yeah
(8:59:55 PM) me: ur saying theres a 100% chance karpeles
(8:59:56 PM) me: is doing it
(8:59:59 PM) friend: in a regulated exchange
(8:59:59 PM) me: i say its 1% or less
(9:00:03 PM) friend: 1% ppl do it
(9:00:05 PM) me: theres no REASON to
(9:00:13 PM) friend: in a unregulated exchange
(9:00:14 PM) me: when it would be so easy
(9:00:16 PM) friend: where if u get caught
(9:00:16 PM) me: dude dont u realize
(9:00:18 PM) me: tons of ppl
(9:00:20 PM) friend: u walk away freely
(9:00:23 PM) me: all mtgox data is public
(9:00:23 PM) friend: with no fines
(9:00:28 PM) me: and all btc transactions are public
(9:00:31 PM) me: someone would fucking figure it out
(9:00:36 PM) me: therees tons of smart ppl analyzing this stuff
(9:00:38 PM) me: its all out in the open
(9:00:40 PM) me: there is no fuckign way
(9:00:42 PM) me: he could just insider trade
(9:00:51 PM) me: and not have someone notice gee uhhhh somethigns wrong with the market
(9:00:54 PM) me: and then word would spread
(9:00:55 PM) friend: hes doing it slowly
(9:00:57 PM) me: and his exchange would collapse
(9:00:58 PM) me: ok pal
(9:01:03 PM) me: u say im a conspiracy theorist
(9:01:04 PM) friend: obv not sell 500k
(9:01:07 PM) me: when ur making up a conspiracy
(9:01:10 PM) me: that literally requires
(9:01:13 PM) me: SO MANY VARIABLES
(9:01:16 PM) me: to be exactly what you say
(9:01:18 PM) me: but im the theories
(9:01:21 PM) me: hahaha
(9:01:29 PM) friend: it doesnt require anything
(9:01:33 PM) friend: lolomfg
(9:01:36 PM) friend: u kiding me
(9:01:52 PM) friend: it requires an acct
(9:02:00 PM) friend: a pw
(9:02:04 PM) friend: and an email
(9:02:05 PM) friend: hahaha
(9:02:18 PM) friend: and a phone
(9:02:22 PM) friend: or messenger
(9:02:59 PM) me: and it also requires u being clever enough to avoid detection
(9:03:06 PM) me: and risking your entire MILLION DOLLAR BUSINESS
(9:03:10 PM) friend: how are they going to detect
(9:03:13 PM) me: which youve invested countless time
(9:03:15 PM) me: and energy into
(9:03:15 PM) friend: how is anyone going to detect
(9:03:18 PM) me: but youre gonna risk it all
(9:03:20 PM) me: for that quick score
(9:03:21 PM) me: hahahahah
(9:03:25 PM) me: ur literally delusional bud
(9:03:26 PM) friend: no its not a quick score
(9:03:27 PM) me: duno what to say to u
(9:03:37 PM) me: anyone can buy or sell btc for usd on mtgox
(9:03:37 PM) friend: its easy
(9:03:46 PM) friend: ur just trading like 1k -5k
(9:03:53 PM) friend: at every ceiling
(9:03:54 PM) me: how do u know karpeles even has access to the dark pool information
(9:03:59 PM) me: it could be encrypted and stored
(9:04:02 PM) me: so even he doesnt know
(9:04:07 PM) me: then he could trade without any advantage
(9:04:09 PM) me: u just dont know anything
(9:04:20 PM) me: and how does he know when its gonna ceiling
(9:04:24 PM) me: like u say when a bunch of deposits come in
(9:04:26 PM) me: but like
(9:04:30 PM) me: theres ppl who have mtgoxusd
(9:04:31 PM) me: just sitting there
(9:04:34 PM) me: waiting to buy
(9:04:38 PM) me: and same thing with btc, ppl waiting to sell
(9:04:39 PM) friend: uh
(9:04:39 PM) friend: uh
(9:04:40 PM) friend: uh
(9:04:41 PM) friend: uh
(9:04:42 PM) friend: uh
(9:04:42 PM) me: so he'd have to KNOW when it was gonna ceiling
(9:04:44 PM) me: and then
(9:04:45 PM) friend: he does the deposists
(9:04:46 PM) me: sell quicker
(9:04:48 PM) me: than the other ppl
(9:04:50 PM) me: who had btc
(9:04:50 PM) friend: manually
(9:04:53 PM) me: trying to sell at the ceiling
(9:04:56 PM) me: what does that have to do
(9:04:58 PM) me: with anything
(9:05:01 PM) me: ok
(9:05:02 PM) me: im done
(9:05:03 PM) me: im literally done
(9:05:11 PM) me: not gonna explain to u for the 50th time how an exchange
(9:05:13 PM) me: works
(9:05:40 PM) me: enjoy ur conspiracy theories
(9:05:45 PM) me: hope u get far with them
(9:05:51 PM) me: ill stick to embracing my diet
(9:05:55 PM) me: and thinking about life
(9:06:02 PM) friend: ok
(9:06:19 PM) friend: it is much more likely for ppl to be inclined to insider trading
(9:06:25 PM) me: stop dude
(9:06:30 PM) me: u dont understand the simplest of concepts
(9:06:32 PM) friend: rather than regulated
(9:06:33 PM) me: knowledge of the deposits means nothing
(9:06:40 PM) me: he cant force ppl to use those deposits
(9:06:47 PM) friend: ok
(9:06:56 PM) me: and he cant force ppl with btc to sell either
(9:07:02 PM) friend: IF HE KNOWS THAT NO ONE IS SITTING WITH 500K CASH
(9:07:07 PM) me: all he does is facilitate an exchange
(9:07:10 PM) me: for a small fee
(9:07:12 PM) me: hahaha
(9:07:12 PM) friend: THEN HE KNOWS FOR A FACT THERE WON'T BE A HUGE BUY
(9:07:17 PM) friend: IN AN INSTANT
(9:07:19 PM) me: when is anyone ever sitting with 500k
(9:07:22 PM) me: ur outta ur mind
(9:07:25 PM) me: its funny
(9:07:31 PM) me: it makes so much sense in ur head
(9:07:34 PM) me: thats why im not gonna argue
(9:07:36 PM) me: but ur wrong
(9:07:37 PM) me: just know that
(9:07:57 PM) friend: I AM NOT WRONG
(9:08:06 PM) friend: INSIDER TRADING MEANS
(9:08:12 PM) friend: YOU ARE TRADING AT AN ADVANTAGE
(9:08:18 PM) friend: THIS MARKET IS SO SMALL
(9:08:33 PM) friend: THAT THERE ARE TOO LITTLE VARIABLES
(9:08:40 PM) friend: INFO IS TOO IMPORTANT
(9:09:01 PM) me: i just explained to u
(9:09:08 PM) me: there is no clear way for him to gain an advantage
(9:09:31 PM) me: if u are so sure theres an advantage, literally NOTHING is stopping u from starting your own exchange, and doing all these things you talk about him doing
(9:09:37 PM) me: lets see if you make money, or get RAPED
(9:09:38 PM) me: hahahaah
(9:09:42 PM) me: freakin genius man
(9:09:45 PM) me: info is too important
(9:09:49 PM) me: info that deposits are coming in
(9:09:50 PM) friend: MY EXCCHANGE MEANS NOTHING
(9:09:52 PM) me: info that he can use for what?
(9:09:57 PM) me: info that ppl have mtgoxusd
(9:10:04 PM) me: and can of their own free will trade it for btc
(9:10:06 PM) friend: BC IF I MAKE AN EXCHANGE, DOESN'T MEAN IT CONTROLS THE MARKET
(9:10:07 PM) me: how does that help him?
(9:10:09 PM) me: hahaha
(9:10:16 PM) me: there is no advtange
(9:10:19 PM) me: just get that thru your head
(9:10:22 PM) me: there is no advantage
(9:10:45 PM) friend: DARK POOLS
(9:11:00 PM) friend: HE IS NOT GOING TO NOT BE ABLE TO SEE DARK POOLS
(9:11:06 PM) friend: LOL
(9:11:11 PM) friend: AT HIM ENCRYPTING IT
(9:11:16 PM) friend: HAHAHA
(9:11:55 PM) friend: HERES WHY I CANT RUN AN EXCHANGE AND DO THAT
(9:12:02 PM) me: how does dark pool knowledge hepl him make money trading
(9:12:02 PM) me: how does dark pool knowledge hepl him make money trading
(9:12:02 PM) me: how does dark pool knowledge hepl him make money trading
(9:12:02 PM) me: how does dark pool knowledge hepl him make money trading
(9:12:03 PM) me: how does dark pool knowledge hepl him make money trading
(9:12:03 PM) me: how does dark pool knowledge hepl him make money trading
(9:12:08 PM) friend: B/C MY EXCHANGE IS NOT BIG ENOUGH
(9:12:13 PM) me: dark pool is just so ppl wont use bots
(9:12:13 PM) me: dark pool is just so ppl wont use bots
dark pool is just so ppl wont use bots
(9:12:14 PM) me: dark pool is just so ppl wont use bots
(9:12:14 PM) me: dark pool is just so ppl wont use bots
(9:12:14 PM) me: dark pool is just so ppl wont use bots
(9:12:14 PM) me: dark pool is just so ppl wont use bots
(9:12:15 PM) me: dark pool is just so ppl wont use bots
(9:12:23 PM) me: ur literally clueless as to how any of this stuff works, and i am done
(9:12:26 PM) me: hahahaha
(9:12:39 PM) me: if he knows theres a dark pool
(9:12:42 PM) me: that dosnt make him any money
(9:12:44 PM) me: hahahahahahaha
(9:12:47 PM) me: its so ppl can trade
(9:12:51 PM) me: without affecting the market price
(9:12:54 PM) me: put orders up at least
(9:13:00 PM) me: if it gets traded, then it still affects the price
(9:13:03 PM) me: because the trade will show up
(9:13:13 PM) me: u rlly talk a lot for someone who doesnt even understand the most basic of things
(9:13:32 PM) me: the size of the exchange doesnt matter at all anyways, since u said ppl who make 20m will insider trade, so why would u do it for 5$?
(9:13:47 PM) friend: IT DOES
(9:13:55 PM) friend: BC UR ALL TRADING THE SAME COMMODITY
(9:13:58 PM) friend: DUMBASS
(9:14:01 PM) me: ok
(9:14:03 PM) me: that makes sense
(9:14:04 PM) me: NOT
(9:14:52 PM) friend: IF I WERE GOING TO MAKE AN EXCHANGE
(9:15:01 PM) me: just explain to me
(9:15:04 PM) me: this very simple thing
(9:15:05 PM) friend: AND IT WOULD HAVE LIKE 90% VOLUME
(9:15:09 PM) me: how does he profit from knowleedge of dark pools
(9:15:11 PM) friend: OF ALL THE MARKETS
(9:15:13 PM) me: and how does he profit from knowledge of deposits
(9:15:18 PM) me: i need you to expalin to me
(9:15:21 PM) me: how that gives him more profit
(9:15:26 PM) me: cause i honestly dont understand
(9:15:30 PM) me: if i knew about the dark pools, thats it
(9:15:32 PM) me: i know they exist
(9:15:37 PM) friend: OK
(9:15:39 PM) me: but say theres an order to buy
(9:15:40 PM) me: at 20?
(9:15:41 PM) me: ok?
(9:15:45 PM) me: for 100k btc
(9:15:49 PM) me: i cant fill that order
(9:15:53 PM) me: because the higher orders have to be filled first
(9:15:56 PM) me: so it doesnt matter
(9:15:58 PM) me: dont u get it?
(9:15:59 PM) me: sigh
(9:16:08 PM) me: err at 10$
(9:16:14 PM) me: not 20, because obv that would filled
(9:16:18 PM) me: since its 16 right now
(9:16:31 PM) me: but someone wants to buy 100k btc for 1mill usd at 10
(9:16:35 PM) me: mtgox cant just fill that order
(9:16:36 PM) friend: the buys are not as relevant
(9:16:38 PM) friend: as the sells
(9:16:40 PM) me: the higher orders have to be filled first
(9:16:41 PM) me: im just saying
(9:16:44 PM) me: theres no advantage
(9:16:45 PM) me: either way
(9:16:51 PM) me: dark pools are simply
(9:16:54 PM) friend: there is an order
(9:16:55 PM) me: so that ppl wont have to write trading bots
(9:16:59 PM) friend: at 20
(9:17:02 PM) me: to sell of a bunch at a vertain price
(9:17:02 PM) friend: for 100k
(9:17:20 PM) friend: and at 25 for 200k
(9:17:25 PM) friend: and a whole bunch
(9:17:28 PM) friend: near 20-25
(9:17:44 PM) friend: thats clearly a brick wall
(9:17:55 PM) friend: say its at 19.4
(9:18:02 PM) friend: or 18
(9:18:05 PM) friend: say its at 18
(9:18:07 PM) me: ok
(9:18:10 PM) me: he still cant control
(9:18:12 PM) friend: ur regular folk
(9:18:12 PM) me: what legit traders too
(9:18:18 PM) me: legit traders might assume the brick wall is at 19
(9:18:18 PM) friend: has no idea
(9:18:20 PM) me: and sell before he can
(9:18:22 PM) friend: if it is goign to breach 20
(9:18:26 PM) friend: and goto 24
(9:18:32 PM) me: ok
(9:18:34 PM) me: so then they dont trade
(9:18:39 PM) me: thats bad for karpeles
(9:18:41 PM) me: do u see?
(9:18:45 PM) me: and he doesnt make any money
(9:18:51 PM) me: i mean ur whole theory is just insane
(9:18:59 PM) me: dont u realize the avg mtgox user has like 50 bucks
(9:19:10 PM) me: ppl insider trade on wall street casue it makes them millions
(9:19:16 PM) me: with your theory hed make like an extra 50btc a day
(9:19:18 PM) me: and risk his whole busienss
(9:19:20 PM) me: hahahahahahaha
(9:19:25 PM) me: really just gotta laugh at u sorry
(9:19:44 PM) friend: thats an extra 1k a day
(9:19:59 PM) friend: if he has like 20 ppl do it
(9:20:03 PM) me: oh yeah
(9:20:06 PM) me: that'd never get found out
(9:20:07 PM) me: hahaha 20 ppl
(9:20:12 PM) me: u are literally out of ur FUCKING MIND
(9:20:16 PM) me: 20 ppl
(9:20:17 PM) me: oh man
(9:20:18 PM) friend: how would they get caught
(9:20:21 PM) me: this is hilarious
(9:20:28 PM) me: no of course they wouldnt
(9:20:29 PM) me: please go on
(9:20:31 PM) me: with this master plan
(9:20:35 PM) me: u should actually contact mark
(9:20:36 PM) friend: thats whats causing an already unstable market
(9:20:38 PM) me: tell him of this
(9:20:40 PM) friend: to be extra insane
(9:20:41 PM) me: i tihnk hed be interested
(9:20:44 PM) me: ohhhhhhhhhh
(9:20:46 PM) me: THATS WHATS CAUSING IT
(9:20:54 PM) me: i thought it was cause it was like a revolutionary new commodity
(9:21:03 PM) me: with increasing demand but also concerns for its infrastructure
(9:21:09 PM) me: OF COURSE! IT WAS KARPELES CAUSING IT!
(9:21:11 PM) me: BRILLIANT!
(9:21:28 PM) friend: i didnt say insider trading was 100% causing it
(9:21:39 PM) friend: its making it MORE swingy
(9:21:43 PM) friend: it is not he cause
(9:21:49 PM) me: interesting theory
(9:21:51 PM) friend: it is the fuel to the fire
(9:21:52 PM) me: post it on the forums
(9:22:00 PM) me: theres plent y of mtgox haters there
Prze_koles
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June 27, 2011, 01:30:51 AM
 #2

tl;dr

but rly, what kind of information mtgox can have which is not public? Only the amount of cash/BTC stored in his accounts. So if someone transfers $1m, he knows that the price will go up.

1FzTJh1C58m1gqnNzxLTt2ryNYkuk1YdfN
BitQuestr (BitCoinWorldMarket)
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June 27, 2011, 01:56:21 AM
 #3

I agree that it is pretty stupid for the owner of any exchange to trade on their own exchange. MtGox is back because he will make more money from trade transactions than stealing all the money and running.

However your friend does have a point. What prevents him from skimming off the top, manipulating the market, and other unethical actions? I personally am very excited MtGox is back and stable again. I am glad he is regaining trust and continuing on. I do think however there are a lot of questions about what happened that haven't been answered.

Some interesting points have been brought up about the details of the hacks, who's money was being controlled, what was actually withdrawn, etc. I do think that these questions need to be answered, most likely by an independant financial audit (with better security involved).

I for one applaud the guys over at MtGox for all the work they have done and the contribution they have made to this community. I wish them the best in all their endevours. Hopefully with more forthcoming transparency as things calm down.

jibjabz
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June 27, 2011, 02:26:00 AM
 #4

Do you guys really hit enter every 3 words when you're IM'ing? Also lol @ thinking someone will read this.
PLATO
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June 27, 2011, 02:30:58 AM
 #5

hey i read it
(the first like 4 lines)

All posts by me after 2012 were a compromised account. Probably by "BBOD The Best Futures Exchange". SORRY Y'ALL
bitcoinminer
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June 27, 2011, 02:49:32 AM
 #6

What motivation would someone with millions of dollars worth of BTC have for manipulating price?  Roll Eyes

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
finack
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June 27, 2011, 02:59:40 AM
 #7

I didn't read your irc logs, learn to ask your question in a few tight paragraphs.

Why wouldn't he do prop trading? He has quite a number of built in advantages over any other market participant and zero transparency or oversight. Your thesis is that it'd ruin his business when(if) found out? It's difficult for me to believe that enough people would abandon him even if it came out - just look at these forums, there are plenty of people posting that don't even understand how much of an advantage he'd have.
dutt
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June 27, 2011, 03:12:33 AM
 #8

I read the log, it's about how when you got all the info on the exchange like darkpool liquidity, peoples account sizes, you can best determine when to sell and how to make price fall just far enough to get yourself a good buy opportunity.
It is an interesting thought to say the least, but I don't think mtgox is that smart.

peach
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June 27, 2011, 03:17:03 AM
 #9

Word Count: 2,195 (not including timestamps or names)

Average length of a novel: 80,000 words

I'd rather read 1/40th of a book.
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