POLL: Mark K's state of mind

BTCtrader71 (OP)

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POLL: Mark K's state of mind

February 21, 2014, 05:40:54 AM
Last edit: February 21, 2014, 05:52:17 AM by BTCtrader71

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At the time of this poll's creation, Mt Gox has not allowed bitcoin withdrawals for a few weeks now. The latest update (their "update to an update") has shaken the already weakened public perception of Mt Gox, with many observers predicting that Gox is insolvent. The price on Gox is $0.100 per mBTC, as compared to about $0.550 everywhere else.

There is panic in the streets. Dogs and cats, living together. Mass hysteria!

Question: what is Mark K's state of mind these days? Choose the ONE SCENARIO you think is the most likely:

1. confident under stress
Mt Gox has problems but they're overestimated by the public. Mark genuinely appreciated the implications of transaction malleability sooner than anyone else and someday he'll get credit for that. The reason that Mt Gox is slower than Bitstamp and all the other exchanges to fix the mess surrounding transaction malleability is a result of the fact that Gox code was less than professional from the start, but that was to be expected back in the old days. Unfortunately, the only way to fix the sloppy code is to start over from scratch and we the public don't realize how difficult that would be. IOW, the legacy of sloppy code is an albatross to Mt Gox that does not apply to newer exchanges and wallets, and even the best and brightest would have a hard time shaking that albatross. He's gonna pull through this crisis just like Mt Gox always has in the past. Good news: Gox is solvent, they just need time. To play him in the inevitable move, Gary Cooper will be cloned. (And fattened up, of course.)

2. conniving
Mark is actually 10 times smarter than anyone suspects. He made a ton through legitimate means, and now he is making 5 times more by exploiting arbitrage opportunity. Indeed, the present crisis was meticulously planned long ago and has been expertly executed. He is looking forward to the day his bitcoin stash will exceed Satoshi's at which time he will disappear (and yes he will embezzle every last bitcoin, dollar, euro, etc in Gox' possession) and prepare to take over the world fo' real, a la Pinky and the Brain. When the Technological Singularity hits, his will be the first conscious mind to be copied over into AI. Emile Hirsch will portray him in the movie.

3. oblivious (aka "incompetent" aka "nom nom")
He really has no idea how bad this all looks. His days are spent holed up by himself drinking frappacino and tinkering with Mt Gox code in between wacking off 5 times a day. To him, we're still living in 2011 and it's still amateur hour. He's not taking advantage of the arbitrage opportunities available to him because he'd rather sleep late. The bad PR and customer service is because, why bother? Good news is that Gox has enough fiat and bitcoin to cover all depositors. Actor to portray him in the movie: Jonah Hill.

4. panicky
In this scenario, Mt Gox is in a deep financial hole due to all the problems we know (e.g. FinCEN) and even some that we don't, most of which were not his fault. Like, maybe, the Russian Mafia is holding someone hostage and forcing him to do shit like manipulate the market so they can take advantage of it. It's going to end badly for everyone (except the mafia) and we'll all sympathize with him when the truth comes out. Despite the fact that we'll never recover our bitcoins. Philip Seymour Hoffman would have portrayed him in the movie if he were still around to do so. (RIP!)