[2014-02-17] Mt. Gox Shows Bitcoin's Growing Pains -- Update

[Nagle]

"Mt. Gox Shows Bitcoin's Growing Pains -- Update" - Wall Street Journal
Quotes:

Investors are increasingly concerned about the status of their Mt. Gox accounts.

In the email interview, Mr. Karpelès responded to questions about the company's solvency or protection for customers' funds by saying that the matter is confidential.

Japanese officials are cautious about making any comments about bitcoins as they wait for the Bank of Japan to finish a study about the virtual currency. Still, some Japan-based lawyers say certain restrictions, especially on exchange platforms, should be considered in order to prevent criminal use of the currency, such as for money-laundering.

"I believe that regulating exchanges would be the best way to address these problems," said So Saito, a lawyer at the Tokyo law firm of Nishimura & Asahi.

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[Rannasha]

Wow. Just wow.

-  "We are very surprised that anyone could fault MtGox instead of the bitcoin software."
- In the email interview, Mr. Karpelès responded to questions about the company's solvency or protection for customers' funds by saying that the matter is confidential

[segeln]

In the german WSJ Edition the Headline was:
Mt.-Gox-Chef schweigt über Solvenz des Unternehmens
.http://www.wsj.de/article/SB10001424052702303491404579388703793106732.html

"CEO of Gox does`nt respond to questions about the companies solvency"

If you asked about the solvency and you are solvent you would very proudly state that you are solvent.

So my clue is, Mt.Gox is not solvent

[TraderTimm]

This is what you get when a programmer is in a position that they can't handle. It is like taking the reclusive engineer and pushing them into a management position. The door is always closed, they don't say much at meetings, and if you really could check behind the door - they're working on whatever captures their interest at the moment - ignoring the glaring red flags of day-to-day operational problems.

Gox will self-gox itself, and Mark is solely to blame for the continued opaque management style, the lack of communication and especially - the lack of staffing from a business that is still pulling in over 1 Million a MONTH on shitty volume compared to the other exchanges.

[CurbsideProphet]

Gox will self-gox itself, and Mark is solely to blame for the continued opaque management style, the lack of communication and especially - the lack of staffing from a business that is still pulling in over 1 Million a MONTH on shitty volume compared to the other exchanges.

Exactly.  All these apologist writers for Gox is ridiculous, they've shown their incompetence time and time again.