I'm Mark Karpelès, ex-CEO of bankrupt MtGox. Ask me anything

[LeGaulois]

Guys, this is huge, Karpeles is on a AMA session on Reditt
https://www.reddit.com/r/Bitcoin/comments/89o16y/im_mark_karpel%C3%A8s_exceo_of_bankrupt_mtgox_ask_me/

it's so hot🔥🔥🔥, go there to follow the discussion...

I will donate $500 worth of Bitcoin to charity if he posts bcash is trash
I am serious !

[Xester]

Guys, this is huge, Karpeles is on a AMA session on Reditt
https://www.reddit.com/r/Bitcoin/comments/89o16y/im_mark_karpel%C3%A8s_exceo_of_bankrupt_mtgox_ask_me/

it's so hot🔥🔥🔥, go there to follow the discussion...

I will donate $500 worth of Bitcoin if he posts bcash is trash
I am serious !

I have been reading Mark Karpeles statements and eventually I agree with his statements. I guess he has no longer in control with what is happening at MT. Gox since there are laws thats need to be followed. Also, Mark is a very interesting man since even though there are many people who hate him, he courageously appeared and answering questions of people.

[buwaytress]

Not as interesting as I'd expected, although curious to see how he basically admitted that he would eventually be coming into billions once everything is settled down. Not much the AMA as a PR move can do to redress his reputation, be really interesting if he publishes everything transparently once litigation is concluded.

Also, note that he says Mt Gox isn't linked to Bitcoin's price plunge according to the trustee, but that's almost how he immediately starts his introduction.

Plenty of "I'm sorry" peppered throughout =)

[LeGaulois]

Yeah true, however, it's always more easy to deal using your keyboard than face to face. This is the first time I regret to not have an account there. He can't talk about everything as he isn't allowed to by the court and the current investigation.
At least an "I am sorry" is better to read than an "I don't care"

Can you imagine if the same happens here with Satoshi

[Mometaskers]

Japanese bankruptcy law has a particularly nasty outcome here, and I want to address this up front. As creditors claims were registered, those claims were registered in the valuation of Japanese Yen on the bankruptcy date. That's the only way Japanese bankruptcy law can work (most bankruptcy laws around the world operate this way for that matter). This means that the claims can be paid back in full, and there will still be over 160,000 bitcoin and bitcoin cash in assets in the Gox estate. The way bankruptcy law works is that if there are any assets remaining after the creditors have been paid in full, then those assets are distributed to shareholders as part of the liquidation.

That's the only way any bankruptcy law can reasonably work. And yet, in this case, it produces an egregiously distasteful outcome in that the shareholders of MtGox would walk away with the value of over 160,000 bitcoin as a result of what happened.

I don't want this. I don't want this billion dollars. From day one I never expected to receive anything from this bankruptcy. The fact that today this is a possibility is an aberration and I believe it is my responsibility to make sure it doesn’t happen. One of the ways to do this would be civil rehabilitation, and as it seems most creditors agree with this, I am doing my best to help make it happen. I do not want to become instantly rich. I do not ask for forgiveness. I just want to see this end as soon as possible with everyone receiving their share of what they had on MtGox so everyone, myself included, can get some closure.

Plenty of sorry peppered here and there through it. Wasn't around in the btc scene when it happened but it was definitely big that people are still talking about it. I suppose he's not required to give people some of those btc he'll get after this.

[cellard]

Karpeles looks or sounds like a good man after all. I think he was never trying to cause this massive clusterfuck, he just didn't envision such thing could happen.. or he did, but it was too late to stop it and he couldn't react until things went south.

Now he has no control of these coins, and due insanely stupid government laws, a ton is going to be lost. Since the coins aren't sent back to the owners, but sold in fiat, then sent in fiat (at the prices at the time, against hodler's will) there will be many losses due taxes. When Karpeles recieves the remaining coins (in fiat) potentially half of it will be lost in taxes, which means if he wanted to pay back what creditors actually deserve (current valuation of BTC) he couldn't.

The insane laws have created this clusterfuck. It would have been as easy as sending the BTC back to the owners in BTC transactions, but the government dumbasses had to ruin it all.

[LeGaulois]

Well, we are all humans and make mistakes from time to time and so we learn from it. But in his case, it was a really really big mistake.
As he said, he is a tech guy and not a guy for management and other things
Some people can't accept the fact that they can't do everything for the company and they need to rely on staff.
At least, he doesn't look really interested in crypto as for today and he is focusing only helping the MtGox bankruptcy

[BlockEye]

I smell something behind this showy appearance of the Mt.Gox Ex-CEO, He is almost a Billionaire at this moment so why on earth he will keep in touch to the people that loss their money in their site. Is this just a conscience or planning a Mt.Gox 2.0? The smartest move he made was paying the user of their site in terms of $ and not in BTC while BTC rate was very low at that time. I believe that he didn't deserves a second chance if ever he decided to give the excess amount in charity then that will be better

[buwaytress]

Karpeles looks or sounds like a good man after all. I think he was never trying to cause this massive clusterfuck, he just didn't envision such thing could happen.. or he did, but it was too late to stop it and he couldn't react until things went south.

Now he has no control of these coins, and due insanely stupid government laws, a ton is going to be lost. Since the coins aren't sent back to the owners, but sold in fiat, then sent in fiat (at the prices at the time, against hodler's will) there will be many losses due taxes. When Karpeles recieves the remaining coins (in fiat) potentially half of it will be lost in taxes, which means if he wanted to pay back what creditors actually deserve (current valuation of BTC) he couldn't.

The insane laws have created this clusterfuck. It would have been as easy as sending the BTC back to the owners in BTC transactions, but the government dumbasses had to ruin it all.

Hard to tell. On the face of it all, he does seem truly apologetic... but that's actually quite common for figures like him, same as the Dogetip app guy who was really sorry to let people down after losing millions. Let's not forget that he seemed to know what was going on for a long time, and did his best to maintain semblance of normality for as long as possible before eventually being forced to come clean. Again, not abnormal and certainly, a natural human instinct.

Plenty of ponzi operators started out well meaning too. Doesn't really forgive them for what they did. What's "refreshing" is to see just how many victims seem ready to forgive and forget. Also interesting to see how Blockstream just kept quiet on the whole saga. Surprised Ver himself didn't show up or did I miss his comments?

[stompix]

Karpeles looks or sounds like a good man after all.

Wow, he really managed to convince somebody of this?
He is a total scammer, idiot and what is even worse he has the nerve to come out in public and claim his "innocence".

Just looking at the first questions:

Who wrote/managed the "Willy bot" & what was it's intended purpose?
I'm sorry but I cannot respond to that at this point due to ongoing legal proceedings.

He can't answer my...

France-born Mark Karpeles said he had tried to save the bankrupted exchange by using a kind of automated computer software called a "Willy bot," also described as an "obligation exchange," to help cover its rising debts by pushing bitcoin values higher.

Also he still claims that those coins where found in a stored away wallet, not hidden.

He has the courage to come out only because the price are up and he knows he will be the only one ending with a profit. With BTC at 500 you wouldn't hear a word from him.

[cellard]

Karpeles looks or sounds like a good man after all. I think he was never trying to cause this massive clusterfuck, he just didn't envision such thing could happen.. or he did, but it was too late to stop it and he couldn't react until things went south.

Now he has no control of these coins, and due insanely stupid government laws, a ton is going to be lost. Since the coins aren't sent back to the owners, but sold in fiat, then sent in fiat (at the prices at the time, against hodler's will) there will be many losses due taxes. When Karpeles recieves the remaining coins (in fiat) potentially half of it will be lost in taxes, which means if he wanted to pay back what creditors actually deserve (current valuation of BTC) he couldn't.

The insane laws have created this clusterfuck. It would have been as easy as sending the BTC back to the owners in BTC transactions, but the government dumbasses had to ruin it all.

Hard to tell. On the face of it all, he does seem truly apologetic... but that's actually quite common for figures like him, same as the Dogetip app guy who was really sorry to let people down after losing millions. Let's not forget that he seemed to know what was going on for a long time, and did his best to maintain semblance of normality for as long as possible before eventually being forced to come clean. Again, not abnormal and certainly, a natural human instinct.

Plenty of ponzi operators started out well meaning too. Doesn't really forgive them for what they did. What's "refreshing" is to see just how many victims seem ready to forgive and forget. Also interesting to see how Blockstream just kept quiet on the whole saga. Surprised Ver himself didn't show up or did I miss his comments?

Well im not going to say he is innocent, he is obviously guilty of his action, his decision taking to run such a business was a complete clusterfuck and so he must pay for it, and I also don't know what his original, true intentions were, but looking at it right now, the guy could run free with hundreds of millions of dollars without any legal needs to give them back to the people that lost the coins due his shitty management, but he is claiming that he doesn't want all that money and he wants to give it back to the people, so the people get their original BTC value and BCash as well, at current rates.

In any case, this is all bureaucracy incompetence, if again, they sent their BTC back to owners instead of having to sell it first, but their want their tax cut, even if it means screwing up the victims. Governments are making more damage than Karpeles with the way they go about it.