MUST WATCH: Account Holder Flies To Japan And Confronts MtGox CEO

[makoto1337]

One possibility that I haven't seen brought up is that the Japanese authorities ordered this shutdown. Recently bitcoins have gotten a lot of bad press in Japan and on the national network, so it is likely that a government official ordered things to be put on hold immediately. Not sure what is up with the secrecy, though.

From the reddit thread (http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/):
Q1. What is causing the withdrawal delays?
• Well, because Gox is the best known of all the exchanges, we have been under the regulatory spotlight.
• This has created problems with government agencies, and also with our banking partners.
• There are also some ongoing investigations, which we cannot talk about.

[gog1]

I wonder can you start suing them.

[redhawk979]

Free market bitches. Go elsewhere if you don't like how Gox does its business

[#Darren]

I think it is admirable that the CEO has taken up the local tradition of Sumo wrestling.

[The-Real-Link]

I certainly feel horrible for the people who've lost money, then spent even more to fly directly to Gox' headquarters to confront them face to face.  One would think that any respectable company would do good go head over heels to fix said problem, but oh wait this is Gox.

A nearly 50% spread is insane.  For a change everyone else is ahead of Gox now and rightfully so.  If they're blatantly disrespecting their depositors then yeah, I won't be sad to see Gox go.

[Bitcoin Oz]

[Armis]

mtgox 1btc = $360
coinbase 1btc = $650

Spread is now ~45%. Those assholes at mtgox have a license to print money: buy their own cheap btc from panic sellers, don't allow anyone else to transfer out but themselves, sell on another exchange like coinbase for an instant 100% gain, rinse, and repeat. Maybe that's the plan all along, criminals...

If true all should be provable via block chain, you're suggesting a multibillion dollar scam, surely that is worth a million dollar investigation.   So who is willing to pay for it, because all of the BTC folk already told the govt in each country to F-off, and thing all of the rich folk are out for themselves, so who do you turn to to find the money?

Here's the thing, 'what if you are wrong?'   

All of these negative and malicious suggestions might get some MtGox executes physically hurt, if there is just cause I have no problem with it, but what if they are actually doing their jobs?   

Again I ask, is this same type of thing occuring at BTC-e or is it undercontrol over there, if so why the difference?

[Armis]

Free market bitches. Go elsewhere if you don't like how Gox does its business

it's not free if they have arrested your money

[buzybit]

On second thought, somebody wearing t-shirt in winter probably doesn't care about anything.

BTW You should make a comic with this guy!

its been months that mt gox had higher price than all other exchanges , this looked suspicious but many did arbitrage trading because of this,
so many people have made money out of this...
and many are loosing now because of panic sells etc...
 
i think the price will rise again at mt gox as the problem is solved!
i dont think this is the end of mt gox, bitcoin is here to stay along with its exchanges
i am also aware of japanese government closing it down - that will be devastating for bitcoin economy and go for p2p exchainges solutions like nxt coin - or other coins have to offer.

one aspect is that cryptocurrencies thrive because of decentralization but exchanges are a single point of failure!
and we should watch that!

[smoothie]

This thread is epic! haha

I'm glad to see some people have got a set to go all that way and not back down.

 

[smoothie]

mtgox 1btc = $360
coinbase 1btc = $650

Spread is now ~45%. Those assholes at mtgox have a license to print money: buy their own cheap btc from panic sellers, don't allow anyone else to transfer out but themselves, sell on another exchange like coinbase for an instant 100% gain, rinse, and repeat. Maybe that's the plan all along, criminals...

The market has spoken. That is all the information I need aside from Mark running like a pussy.

Wow just wow. 

[smoothie]

Kolin's approach was antagonistic. Intentionally moving to block the employee as he tries to get inside. If that was me, I'd have punched the Kolin upside the head.

There were other ways to accomplish this and have people be more 'receptive' to speaking to you.

I disagree. He asked Mark some point blank questions and literaly got no answer. He did not yell nor antagonize. Just asked.

Mark looked like he didnt want to talk AT ALL.

[smoothie]

Free market bitches. Go elsewhere if you don't like how Gox does its business

Registered February 12th. Yeah we are the "bitches". Nice one noob. 

[BTC5OOO]

Unfortunately, if Gox really did lose it all, that will probably lead to Japan banning crypto-currencies. The government is thinking right now about what their policy should be, so this couldn't have come at a worse time. Japan is the world's 3rd largest economy, so this hurts us all.

first consider a ban on nuclear reactors!..yea?  =0

[technocoma]

Just unbelievable that he didn't go out of his way to sit down and talk to someone that had flown 12 hours to talk to your company. Even if all the btc are safe and there is a legitimate reason why he couldn't give the guy his coins (don't see why there is tho) there's many right ways to treat your customers and by the fact that he flew from London to try and get his coins back means hes an important customer. Instead just tries to walk past without talking and leaving him out in the rain.

Should of used it as a chance to do some good PR instead just ignored him and wouldn't comment on if BTC is safe which if they were surely they would be repeating it as its the most important thing.

Glad I haven't used Gox in a long time feel sorry for these people with huge life changing amounts tide up.

Even if all coins are returned this is surely the end for gox who is going to trust someone with there money that can't take 5 minutes out of his day to talk to a customer.

[Loozik]

Free market bitches. Go elsewhere if you don't like how Gox does its business

it's not free if they have arrested your money

It's the people doing business as US gov that arrested the money (several million US dollars of Gox's clients at Wells Fargo and Dwolla) last year and set in motion problems at Gox.

Stalkers should give Mark time to focus on work to undone the harm done by US gov.

[Lauda]

I feel sorry for the guy, damn you Gox!

[TheFootMan]

Just unbelievable that he didn't go out of his way to sit down and talk to someone that had flown 12 hours to talk to your company.

When I watched that I had an urge to just knock the drink out of Marks hands. Or punch him friendly in the face. Of course, violence never solves anything, but good lord, is he suffering from autism or something similar?

Maybe he should not put that protest dude in front of the que, as that would be unfair, but at least he could take him in for a chat and some biscuits, perhaps even give him a frappucino or whatever it is that Mark is consuming daily, just imagine how much sugar and calories are in there.

or is Mark unable to picture the same situation in reverse? One english exchange is holding Marks money hostage, and Mark takes an air plane to London, and gets meet by a cold shoulder when trying to speak to those in charge. He do not see it from that viewpoint?

If so, it explains a lot of the things that's going on at MtGox.

Free market bitches. Go elsewhere if you don't like how Gox does its business

it's not free if they have arrested your money

It's the people doing business as US gov that arrested the money (several million US dollars of Gox's clients at Wells Fargo and Dwolla) last year and set in motion problems at Gox.

Well, everybody knows what happens if your're not in compliance in the US. Consequences... Gox should've hired a lawyer to look into everything on the US side, to ensure everything was legit once they started to have any sizable business.

One can disagree with the rules, but they're there, and they will be enforced, it's only a matter of time when you run an unlicensed money transmitter business in the US.

All of these negative and malicious suggestions might get some MtGox executes physically hurt, if there is just cause I have no problem with it, but what if they are actually doing their jobs?  

Do you remember the Cyprus crisis? Some rich customers where conveniently told that they could withdraw money in english branch before the collapse.

Certain well connected individuals do not go and complain to the police when something really bad happens, they fix matters themselves.

When money is involved, people do the strangest things. Personally I would be scared to death if I owed people millions.

[Loozik]

I have a hypothesis (that I cannot prove / that can be completely wrong):

1. Around two years ago in somebody's head there was a thought to own the the biggest crypto-fiat exchange in the world. Such exchange could either be created from scratch (not easy) or purchased. This somebody is influential.

2. This somebody arranged for a person or institution from England to approach Mark Karpeles with an offer to purchase MtGox. The price on the offer was ridiculously low. Mark declined the offer.

3. The offeree told Mark MtGox would not succeed under Mark's management (he is too young, he does not have legal expertise, he is not connected, etc) and maybe even placed a slightly better offer. The second offer was also declined.

4. At first ''soft'' measures were taken like smear campaign by Max Keiser (England) and trolls on this forum.

4. Next ''hard'' measures were taken to prove Mark is not capable of running crypto exchange business: people dba US stole / frozen / confiscated worth of millions MtGox's clients funds at Wells Fargo and Dwolla.

5. Another offer was placed by a person or institution from England. Mark declined.

6. A guy (from England) was paid to threaten Mark through this forum with a physical confrontation: https://bitcointalk.org/index.php?topic=304568.0;all Mark did nothing.

7. Another or the same guy (from England) finally confronted Mark physically: http://www.youtube.com/watch?v=ob9Ak1t09Ao Look at the stalker: his sign doesn't say ''where is my money'', it says ''where is our money'' - the stalker wants to appeal to a broader public. If you wanted your money, you would put your login name on the sign, wouldn't you? If you wanted your money, you would negotiate/ present your case instead of uttering phrases that appeal publicly, wouldn't you? He did not forget to mention he flew from London.

8. Now Mark dislikes anything that comes from England. He will soon be ready to accept an offer from the influential somebody (who happens to be not from London).

-----------------------------------------

A few years ago I heard about a similar case in the financial sector.

[pleiotropik]

The real Karpeles has not been shown in ANY interview he has given or video clip. He always wears the same gesture of contented smug satis-fat-shion. What does that tell us?
Imho he is a sock puppet for somebody else that truly controls the strings...

The other possibility is that he is an almost perfect sociopath, unable to have an emotional grasp of what's happening around him.
In both instances, Karpeles remaining as CEO of Mt.Gox. is a guarantee at this stage that there is no beneficial outcome for the enterprise. He has isolated himself in order to protect himself instead of reaching out and searching allies.  Anybody else in that position would have recruited an able spokesperson to confront the situation. "Oh the hugemanatee!"